Steel industry news

The Department of Foreign Trade under the Thai Ministry of Commerce has launched an investigation into Chinese steel products, after receiving petitions from three domestic hot-rolled steel coil producers.

The global nickel market has been volatile for many years now as the price of this commodity suddenly plummeted, affecting Australia's nickel industry.

On April 9, the domestic steel market continued to stabilize; on the Shanghai trading floor increased by 38 Yuan with the October 2024 steel contract.

The amount of Chinese steel exported to countries including Vietnam will still remain high in the context of low consumption in the country's domestic market.

China's giant steel industry is having difficulty reducing carbon emissions due to slowing market demand and low recycling rates.

Pressures from weak domestic market demand have prompted Chinese steelmakers to boost steel exports at cheap prices.

Steel manufacturing businesses are waiting for recovery from the real estate industry and the government's continued promotion of public investment.

Steel consumption is forecast to increase by 6% this year after a sharp decrease in 2023. In particular, steel exports continue to grow thanks to expectations of recovery in world steel demand.

According to experts, China and India's coal consumption continues to increase even as they set ambitious renewable energy goals.

The rise in iron ore prices on the Singapore Exchange suggests that Beijing may be trying to contain domestic prices, but it will be difficult to control international prices, especially if there are fundamental reasons supporting ore prices higher iron.