Ferrosilicon Daily Express 10.21

  • Monday, October 21, 2019
  • Source:ferro-alloys.com

  • Keywords:Ferrosilicon futures spot
[Fellow]Yu Yong was elected as the new chairman of the World Steel Association.
[Ferro-Alloys.comYu Yong, chairman of HBIS Group Co Ltd, one of China's largest steelmakers, was elected as the new chairman of the World Steel Association during its annual conference last Tuesday in Monterrey, Mexico.

Adhering to green and intelligent development is fundamental to the healthy development of the steel industry in China, Yu said.

Yu said China's current steel output and consumption occupies about half of the world's total.

China saw robust growth of major bulk commodity imports in the first nine months of this year, data from the General Administration of Customs (GAC) showed Monday.

The country's imports of coal increased 9.5 percent year-on-year to 251 million tons, according to the GAC.

However, iron ore imports during the period declined 2.4 percent to 784 million tons. 

Frequent changes to the tariffs by Trump create uncertainty. Rising geopolitical tensions are also negative for equity markets. Notably, US steel stocks aren’t an exception. Last year, when President Trump authorized doubling Turkey’s tariffs, there was selling pressure in steel stocks. As things turn out, President Trump’s steel tariffs have nothing to do with US national security.

 
 
  • [Editor:kangmingfei]

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