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Anyang and Shougang losses grow
May 21, 2013
Anyang Steel’s quarterly report released on in early May showed losses increased to RMB 392M ($63.12M) in the first quarter.
US imports challenged by domestic steel
May 21, 2013
Imports have remained at modest levels for many months, as the ‘short, inventory-driven cycles’ have given way to a long cycle of lower prices, short lead times at domestic mills.
Chinese banks cut loans to steel traders
May 21, 2013
China’s banks were cutting credit loans to steel traders because bad debt had increased sharply. Analysts expected the move would add to pressure on the steel industry, along with the current weak demand.
US production recovers from May
May 21, 2013
In its May newsletter, the American Institute for International Steel (AIIS) observes the steel market in the USA has not shown its normal early year rebound this year.
Chinese output jumps despite small profits
May 21, 2013
Chinese crude steel output rose 9.1% from a year earlier in Q1 2013 to 191.89Mt, iron output expanded 7.6% to 178.23Mt, and rolled steel output jumped 12.3% in the period.
Chinese steel barely returns profit in Q1
May 21, 2013
China’s steel industry swung back to report profits in the first quarter 2013 after recording losses in the same period last year.
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