Chinese steel giant eyes Simandou

LME nickel price trend on June 23rd

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.8 million tonnes (Mt) in May 2020, an 8.7% decrease compared to May 2019.

Spot prices for flat-rolled steel in the US fell again this week as mills struggled to book new spot orders.

Steelmakers are still expected to purchase another 50,000-100,000t of July-shipment deep-sea scrap, but almost all of their requirements have been met.

China has lowered the target for coal's share in its primary energy mix as it continues to encourage the use of cleaner energy to combat air pollution.

Growth in India's renewable energy capacity is on course to easily outpace the expansion of its coal-power fleet in the current decade, given the country's broader plan to cut its dependence on the thermal fuel.

ArcelorMittal today announced a €440/t ex-works base price for hot-rolled coil (HRC) in the northwest European market, buyers told Argus.