Latest news with #steelmills
Bloomberg
3 days ago
- Business
- Bloomberg
China's Steel Output Cuts Could Intensify Coking Coal's Plunge
China's declining steel demand is sweeping through related markets, with prices of the coking coal and coke used in blast furnaces plunging to their lowest since 2016. Steel mills are expected to curtail production this year to cope with the drop in consumption. The protracted collapse in the property sector remains the biggest drag, while exports that have helped soak up the domestic surplus are likely to recede in the face of mounting trade barriers.
Bloomberg
5 days ago
- Business
- Bloomberg
Iron Ore Retreats as Traders Stay Cautious on Demand Outlook
Iron ore extended its losing streak for a fourth day as traders remained cautious about demand and assessed moves to limit overcapacity in China's steel sector. The steel-making material dropped to a three-week low as industry players, gathered at the annual Singapore International Ferrous Week, weighed expectations for production cuts at Chinese mills. Meanwhile, daily ore flows from Brazil increased from the month before.
