July 03,2023

According to the latest data from the General Administration of Customs, from January to May 2023, China exported 36.369 million tons of steel products, a year-on-year increase of 40.9%.   In the first five months of this year, China's steel exports totaled US$41.60 billion, a year-on-year increase of 15.1%. Based on this calculation, the average price of China's steel exports from January to May was US$1,143.7/ton, a year-on-year decrease of 18.6%.   In May, China exported 8.356 million tons of steel products, an increase of 5.3% month-on-month and a year-on-year increase of 7.7%; the export value was US$7.71 billion, a decrease of 11.5% month-on-month and a year-on-year decrease of 28.0%; A decrease of 16.0%, a year-on-year decrease of 33.1%.

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July 03,2023

【6/28/2023 - What does the future hold for the steel industry? A mild recession, lower Chinese steel production and volatile energy prices, according to market analysts who spoke during the final day of the inaugural Global Steel Dynamics Forum.】   What does the future hold for the steel industry? A mild recession, lower Chinese steel production and the potential for volatile energy prices, according to market analysts who offered a few views into the future during the final day of the inaugural Global Steel Dynamics Forum   Opening the final sessions on Wednesday, Ryan Sweet, chief U.S. economist for Oxford Economics said his firm believes the global economy is likely to tip into a mild recession late this year or early next year.   “Cracks are forming,” he said, adding, “The pandemic hasn’t repealed the business cycle.”   Sweet said the global economy is expected to contract as central banks raise interest rates to fight inflation. Likely, he said, they'll overcorrect. However, recessions brought on by monetary policy errors tend to be short in duration and limited in severity, Sweet said.     Also on Wednesday, attendees heard from Lucas Pipes, managing director of B. Riley Securities and Timna Tanners, managing director and senior analyst at Wolfe Research, who agreed that Chinese steel production has already peaked.   Pipes noted that as China ended its strict COVID-19 lockdowns, there was great anticipation of a surge in building activity. But it did not materialize.    “It sputtered,” he said, adding that the expected boom didn't come despite polices meant to prop up China's property market, a key driver of demand.   In addition, Rick Preckel, a principal at pipe and tube consultancy Preston Pipe, said there’s a risk of volatile energy prices in the future.   He said that going forward, fossil fuels will still provide much of the world's energy, more than 30% or 40%, depending on the estimate. However, in the U.S., government policy is discouraging fossil fuel investment at a time when oil and gas exploration and production companies are prioritizing shareholder returns over new wells.    "With the path we're on today there's a possibility we're going to see very volatile energy prices in the future," he said.    The 2024 Global Steel Dynamics Forum will return New York City in mid-June. A date will be announced soon.

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April 11,2024

The EU’s Carbon Border Adjustment Mechanism (CBAM) is the EU's tool to put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.  By confirming that a price has been paid for the embedded carbon emissions generated in the production of certain goods imported into the EU, the CBAM will ensure the carbon price of imports is equivalent to the carbon price of domestic production, and that the EU's climate objectives are not undermined. The CBAM is designed to be compatible with WTO-rules. CBAM will apply in its definitive regime from 2026, while the current transitional phase lasts between 2023 and 2026. This gradual introduction of the CBAM is aligned with the phase-out of the allocation of free allowances under the EU Emissions Trading System (ETS) to support the decarbonisation of EU industry.\   It is said that any steel products enter to EU must had the CBAM certificate

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April 11,2024

Any steel products enter to EU need had the Russia certiciate We hereby declares that we fully comply with the official Journal of the European Union L 159 I/1 regulations at Annex XVII, with attention to CN code 7206-7326 inclusive, There is no directly or indirectly Russian source in our procurement that is used in our products.

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