15 January 2019

Latest Steel Market News

Hebei to cut 14 million tonnes of steel capacity in 2019

(Asia Pacific): Hebei, the largest Chinese steel-producing province, to cut 14 million tonnes/year steel production capacity in 2019. The governor of Hebei, Xu Qin, revealed the plan while presenting government work report yesterday. In 2018, the province was succeeded to cut 12.3 million tonnes per year steel capacity.

India’s crude steel production declined by 1.4% year-on-year in December 

(Asia Pacific): Crude steel production in India fell by 1.4% in December 2018 to 8.936 million tonnes as compared to 9.067 million tonnes of December 2017, according to Joint Plant Committee (JPC) latest report.

Xingda Steel Tyre Cord increasing its global footprint

(Asia Pacific): Xingda Steel Tyre Cord established an office in Luxembourg to provide technical services to local tyre producers. The company recently established a subsidiary in the United States and a production plant in Thailand. Xingda is a Chinese producer of steel cord and bead wire.