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China's Steel Prices Keep Falling Despite Peak Season for Demand Amid Overcapacity yicaiglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yicaiglobal.com Daily Mail and Mail on Sunday newspapers.
China’s oil refiners will have to shut down old, inefficient operations as authorities set a cap on domestic crude processing capacity under new guidelines promoting green development of the sector, reports Caixin. The capacity lid of 1 billion tons a year starting in 2025 will force a reduction from this year’s 1.008 billion tons, based… ....
ChinaChina April crude steel output hits record despite production controls Min ZhangShivani Singh 2 minute read Employees work at a factory of Dongbei Special Steel Group Co. Ltd. in Dalian, Liaoning province March 16, 2015. REUTERS/China Daily China s crude steel output hit an all-time high in April, despite the government s pledge to curb annual production to reduce pollution as well as increasing costs from raw materials. With mills cranking up production fuelled by strong profits, the world s top steel producer churned out 97.85 million tonnes of the metal last month, data from the National Bureau of Statistics (NBS) showed on Monday. That was up 4.1% from March and well above output of 85.03 million tonnes in April 2020. ....
EnergyChina plugs tax loophole with import levies for key blending fuels Muyu XuChen Aizhu 3 minute read China will introduce hefty taxes on imports of light cycle oil (LCO), mixed aromatics and diluted bitumen from June 12 aiming to curb imports blamed for worsening a fuel surplus and polluting the environment. Authorities in south China have recently cracked down on illicit trade and sales of LCO, a blending fuel for diesel. The charges will inflate the cost of buying from regional suppliers such as South Korean refiners and international traders which in recent years have sold China record volumes of these fuels cashing in on tax loopholes. ....
BEIJING Chinese coking coal futures slumped more than 6% on Monday to their lowest in three months as stable output and imports eased supply worries, while… ....