{"id":1140883,"date":"2019-09-27T16:27:26","date_gmt":"2019-09-27T21:27:26","guid":{"rendered":"https:\/\/www.mining.com\/?p=1003111"},"modified":"2019-09-27T16:27:26","modified_gmt":"2019-09-27T21:27:26","slug":"china-now-produces-56-of-the-worlds-steel","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1140883","title":{"rendered":"China now produces 56% of the world\u2019s steel"},"content":{"rendered":"<p>Data released on Monday showed Chinese steel output rebounded in August rose 9.3% from the same month a year before to 87.3m tonnes; not far off the record set in May this year according to the World Steel Association.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Chinese furnaces now produce 56% of the world&#8217;s steel despite pollution-related output cuts mandated by Beijing over the winter months and a slowdown in construction activity. <\/p>\n<p>This is due to blast furnaces in the rest of the world being idled, notably in Japan where August saw a 7.8% drop in crude steel leaving mills. US output was flat while Europe marked a 2.2% decline. Production in the rest of the world outside China is now down for three straight months. <\/p>\n<p>Benchmark iron ore prices were flat on Friday with the Chinese import price of 62% Fe content fines exchanging hands for $90.91 per dry metric tonne according to Fastmarkets MB, after coming close to triple digits a fortnight ago. <\/p>\n<p>Iron ore remains in a bull market for 2019, up 25% on the back of supply disruptions from top miner Vale following a deadly dam burst in January.<\/p>\n<p>The Australian export price of metallurgical coal (FOB hard coking coal Fastmarkets MB) used in steelmaking eased again on Friday to $121.50 a tonne. That\u2019s down almost $70 a tonne compared to the start of the year amid oversupply and import restrictions imposed by Beijing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese production up 9.4% so far this year, despite Beijing&#8217;s pollution fight and slowing construction.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140883"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1140883"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140883\/revisions"}],"predecessor-version":[{"id":1140887,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140883\/revisions\/1140887"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1140883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1140883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1140883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}