China’s steel sector will see an improved performance in the second half of 2014, as government stimulus measures and financial controls take effect, according to a key industry executive.
This is indicated in the recent price indexes -the China Iron Ore Price Index (CIOPI) climbed by 1.16 points or 0.36% week on week to 327.04 points as of August 4th, according to the latest statistics by the China Iron and Steel Association (CISA)..
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Sources: Yieh, Steel First
Siobhan R.// SMC Editor
For us, sustainable growth improves the quality of life for everyone, now and for generations to come. It encompasses environmental, economic and social dimensions, as well as the concept of stewardship, the responsible management of resource use.
Without a doubt, Steel Products help to meet society’s needs and as producers of steel, it is our responsibility to meet the demand for steel in a sustainable way. With companies all across the world, we face a broad range of challenges and we are committed to taking action, individually and together as an industry, to address them.
Steel’s combination of properties such as availability, cost, durability, strength, and ductility (the ability to be stretched or shaped without breaking) is what makes it unique. Steel’s properties enable it to suit a variety of product applications for which there are no energy and cost-effective substitutes.
Moreover, steel is 100% recyclable. It can be recycled infinitely, which helps to save energy and raw materials, reduce CO2 emissions and reduce the waste generated from raw materials extraction. Virtually, all the steel we use has the potential to be recycled. Improving the recycling rate of end-of-life steel products as well as product design for recycling can increase further steel scrap quality, and hence steel’s contribution to the environment.
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Elle T. // SMC Editor
Having registered the Indian steel industry’s lowest growth rate ever, most of India’s steel companies are reeling from low domestic consumption and the reduced value of the rupee. They have either cut the prices or are actively contemplating it.A far cry from earlier this year when some, including the publicly-owned Steel Authority of India (SAIL), had increased prices.
Though the official growth figure for the steel sector in the last fiscal year has not been announced by the Indian Government, most analysts here are unwilling to peg it at over 1 percent and some insist the 1 percent figure is a very charitable estimate.Reports in the Indian media have reported it to be between 0.5 to 1.5 percent. A report in the Financial Chronicle, quoting analysts, said the Indian steel sector has seen a listless growth of less than 1 percent for 2013-14.
Government indecisiveness, an election year and a delay in project approvals have all resulted in a slowdown in the auto, real estate and infrastructure sectors negatively impacting demand for steel.The FC report quoted Sanjay Jain, analyst with brokerage firm Motilal Oswal, saying that the steel sector had witnessed only 0.6 percent growth in the first 11 months of FY14. Demand continued to remain low in March, too.That was the trigger for steel companies to slash prices even before the onset of the monsoon season in June, when steel prices historically begin to correct themselves in India.Now the appreciation of the rupee against the US dollar combined with falling international steel prices has forced steelmakers to marginally cut prices of flat steel product like hot-rolled coil (HRC) in order to stay competitive with cheaper imports.
Source: Metal Miner
Elle T. // SMC Editor
Morocco has called on interested stakeholders to provide input and evidence as a safeguard investigation on cold-rolled sheets and plated or coated sheets gets under way.
A WTO member could have imports of a product temporarily restricted if the increased imports of the product are found to be “causing, or threatening to cause, serious injury” to domestic production.
According to an application by Maghreb Steel to the Moroccan Ministry in charge of Foreign Trade, the rising imports had resulted in a decline in domestic output of cold-rolled and coated, or clad, plates since the start of 2012.
It claimed that the wave of plate exports to Morocco, owing to a decline in Europe’s steelconsumption and the persistent economic and financial crises facing some European countries, had impacted productivity, capacity, sales and employment levels and had led to declines in the financial performance of the domestic industry.
The application noted that the volume of imports of cold-rolled sheet jumped 100% from 2011 to 2012 and 89% between 2012 and 2013.
Further, imports of coated or clad plates increased 77% between 2011 and 2012.
During the first two months of 2014, 28 146 t of cold-rolled and coated, or clad, sheets were imported into Morocco – a 62% increase on the quantities imported during the same period of 2013.
The Moroccan Ministry in charge of Foreign Trade invited importers, exporters and other interested parties to present evidence and views and respond to the presentations of other parties.
Source: Engineering News
Elle T. // SMC Editor
Asia has became a vital producer of steel products that the global economy has become dependent upon. The Asian average cost of Hot Rolled Plate’s & Hot Rolled Coil’s is significantly less than the World average price as show by the graph above. The lower costs allows Asian manufactures to remain competitive and customers can save important funds that can be used else where in the business.
SMC offers a great range of competitively priced quality products with a reliable service you know you can trust. Our company’s commitment is to continue Building Value Across the Globe.
Source: MEPS UK Online
Elle T. // SMC Editor
Shanghai Metal Corporation (SMC) serves the world’s businesses as an integrated global manufacturer, exporter, and supplier with offices and subsidiaries located throughout Asia, Europe, Australia, and the Americas. Our company manufactures a wide-array of value-added Metal Products, Building Systems, Shipping Containers, and Machinery.
Our company prides itself on being a leader in both material manufacturing and process innovation. Just as crucial to this leadership is our commitment to environmental stewardship and sustainability, safeguarding our planet for our family and friends across the globe.
Everyday SMC employees throughout the world dedicate their efforts to providing quality products and reliable service, which embodies our company’s commitment to Building Value Across the Globe.
Elle T. // SMC Editor
Australia and China share a unique trading relationship which is rapidly growing and improving each country’s economy. The possibility of strengthening and improving this existing relationship is a major priority for both countries. Both governments are committed to sustaining and increasing the trade and investment flows that have been achieved in the past two decades. In 2013, the total trade between the two nations was $150.9 billion (AUD$) making China the biggest export partner of Australia and a vital part to the Australian economy.
Australia’s main export to China is Iron Ore equaling to 57% of total exports in 2011 with a worth of $43,960 million (AUD$). Australia also is a service exporter to China with education-related travel services equaling to 5.3%. In 2012 over one million trips were made between Australia and China with 624,500 Chinese visitors to Australia and 380,000 Australians travelling to China. The Australian tourism market is highly dependent upon Chinese tourist as they contribute significantly to the economies and tourism industry performance.
On the 18th of April 2005, Australia and China agreed to commence negotiations on a Free Trade Agreement after a feasibility study found that there would be significant economic benefits for both Australia and China. The negotiations are continuing but are complex and cover a large array of trade issues including: agricultural tariffs, quotas, manufactured goods, services, temporary entry of people and foreign investment. The associated benefits and interests of the potential agreement include the removal/reduction of tariff and non-tariff barriers which would significantly reduce transaction costs, removal of regulatory barriers to improve trade flows across goods and services and to implement measures to encourage more foreign investment between the two countries enhancing the future economic relationship.
Elle T. // Editor SMC