Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Chinese steel exports remained above 9 million tonnes (MT) in April, adding to concerns that overcapacity is prompting mills to shift surpluses overseas.
Trade tensions are being exacerbated by a number of industries, including steel, as other countries express alarm over China's surplus production. Washington and Brussels' criticisms have focused on clean energy, where China has outpaced its Western competitors. However, as the extended housing market crisis constrains domestic consumption, Beijing's failure to appropriately address past overcapacity in the world's largest steel industry is once again highlighted.
Shipments hit 9.22 MT last month, according to customs data on Thursday. Although that’s below the level posted in March, the 35 MT exported in the first four months of the year is the biggest volume for the period since 2016.
At the same time, monthly imports of iron ore, the key feedstock for steelmaking, rose above 100 MT for the third time this year. In another indication that domestic demand remains weak, much of the ore is piling up at ports, where inventories run above seasonal norms.
A crackdown on the tax evasion that has helped fuel overseas sales could see steel exports decline in the next couple of months, according to Tomas Gutierrez, an analyst at Kallanish Commodities Ltd. But unless China cuts production, the total this year could still rise above 100 MT, he said, a level that was last breached eight years ago when the trade row over steel was at its peak.
Also Read : EU starts a new initiative to recycle steel by-products Global scrap prices fluctuate in June amid steel market uncertainty
India's fuel usage is predicted to go up by 2.7% in the upcoming fiscal year starting April 1, as pe...
Notification 25-Jan-2024
Net profit jumped 160% YoY in Q4 FY25.A good order book and delivery boosted revenues...
Business 31-May-2025
The Ministry of Coal has begun the monetisation process for Bharat Coking Coal Limited's (BBCL) 2-MT...
Ferrous 14-Mar-2024
Indian steel companies are likely to slow down their capacity expansion plans as rising steel import...
Business 12-Mar-2025
Metalogic PMS, India’s leading Metals & Mining intelligence firm, successfully hosted the...
Defence 01-Aug-2024
Vietnam’s steel imports from China surged 30% in Q1 2025. Potential anti-dumping duties and s...
China 23-Apr-2025