A near-50pc surge in iron ore prices over the past three months has lifted the product's share of Chinese steel costs to an all-time high.

The seaborne iron ore price hit more than six-year high Aug. 18, due to supply shortness of medium grade fines and a strong demand recovery in China post-pandemic.

Shanxi-based TISCO, which has an annual capacity of 12.94 million tons, is a global leader in stainless steel.

Shanxi-based TISCO, which has an annual capacity of 12.94 million tons, is a global leader in stainless steel.

The steel subsidiary should combine its own reform and development with the integrated development of the Yangtze River Delta.

Minmetals released its interim financial results yesterday, both the company's commodity prices and sales fell in the first half of this year, and the revenue falling 14% to $1.1914 billion from a year earlier.

In the week ending on August 15, 2020, domestic raw steel production was 1,377,000 net tons while the capability utilization rate was 61.5 percent.

The American Iron and Steel Institute (AISI) announced the release of its 2019 Annual Statistical Report (ASR) on August 12, 2020.