Steel Times International News
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PMI rises for Chinese steel in February
The purchasing managers index (PMI) for China’s iron and steel sector bounced back to the expansion area in February, rising 9.6% to 58.9 and hitting a high since March 2011, according to the latest data released by the China Federation of Logistics and Purchasing (CFLP).
27 March 2013 -
Report calls for China’s steel sector reorganisation
China will step up efforts to promote the transformation and upgrading of the steel industry this year, according to the report on a draft plan for 2013 by the National Development and Reform Commission (NDRC) presented to the first session of the 12th National People’s Congress (NPC).
27 March 2013 -
Chinese ore price expected to rise
The costs of steel production in China remained high in February as iron ore stocks previously purchased by steel mills had already been half consumed. A new round of iron ore restocking will begin, which means iron ore prices are likely to rise.
27 March 2013 -
Ovako Steel sees 77% drop in profit
Special steel producer, Ovako Steel of Sweden reported full year results for 2012 of net sales €937M down 16% on sales of €1121M in 2011. Adjusted for a production stoppage at the Imatra steel mill, the decrease was 15%.
27 March 2013 -
Steel demand in China fails to improve
Traditionally, Chinese downstream sectors’ demand for steel products shoots up when the weather turns warm but this year, after the Spring Festival holiday (February 9-15), the situation in steel market failed to do so. Recently China’s steel demand has failed to meet expectations.
27 March 2013 -
China’s steelmakers urged to cut air pollution
As haze continues to plague China the steel industry is seen as a major source of air pollution. Industrial insiders say the country’s steel sector is faced with problems including excessive capacity and serious air pollution, but becoming greener will be a daunting and painful task.
27 March 2013
