On July 21, the spot steel market was dominated by price increases, and all major futures market products rose, including rebar, hot-rolled coil, and iron ore, which rose by more than 2%, hitting a 4-month high. Coke rose by 5.05%, and coking coal rose by 7.88%, breaking through the 1,000 yuan mark.
The China Iron and Steel Association and the Ministry of Industry and Information Technology spoke out in succession to promote the anti-involution of the steel industry, triggering market sentiment.
The second round of price increases for coke began, and steel cost support was strong, but the spot transaction of finished products was relatively general.
The Ministry of Commerce talks about China-US economic and trade relations: artificial “decoupling” is impossible
Minister of Commerce Wang Wentao said at a series of thematic press conferences on “High-quality Completion of the 14th Five-Year Plan” held by the State Council Information Office on July 18 that China-US economic and trade relations have gone through ups and downs, and the two sides remain important economic and trade partners to each other.
Since 2018, the US unilateralism and protectionism have risen, constantly provoking economic and trade frictions, and a series of actions have seriously impacted and interfered with the normal economic and trade cooperation between China and the United States. Although the share of China-US trade has declined, bilateral trade has remained stable overall. In 2024, the volume of China-US trade in goods and the scale of China-US trade in services will reach US$688.3 billion and US$155.8 billion, respectively, an increase of 18% and 34.7% over 2017.
Facts have proved that China-US economic and trade cooperation has a solid economic and public opinion basis, and artificial “decoupling” cannot be removed.
Some domestic coking enterprises held a market analysis meeting: the current coking market should raise prices as soon as possible
On the morning of July 21, the Market Committee of the China Coking Industry Association held a special market analysis meeting. The delegates agreed that the current coke market should raise prices as soon as possible. In order to improve the difficult situation of the industry and realize the reasonable distribution of profits in the industrial chain, the participating enterprises reached the following resolutions:
(1) From July 22, the price of ramming wet quenching coke for steel mill customers will be increased by 50 yuan/ton, and the price of ramming dry quenching coke will be increased by 55 yuan/ton.
(2) Coke enterprises will actively communicate with steel mills to ensure a reasonable price for coke and maintain the healthy operation of the black industrial chain.
(3) Continue to adhere to the business model of prepayment, do not sell on credit, and do not give up the right to weigh and measure. At present, the second round of coke price increase has begun, and the cost of steel is strongly supported, which is beneficial to the trend of steel prices.
Australian Prime Minister Albanese ended his visit to China last week, and China responded
According to the Global Times, at the regular press conference of the Ministry of Foreign Affairs on July 21, a reporter asked, “Australian Prime Minister Albanese ended his visit to China last week. How does China view this visit?” In response, spokesman Guo Jiakun said that China has issued a press release on the activities related to the visit of Australian Prime Minister Albanese to China, which you can check.
I would like to point out that during the official visit of Australian Prime Minister Albanese to China, the leaders of China and Australia reached an important consensus on deepening and expanding mutually beneficial cooperation.
China is willing to work with Australia to strengthen cooperation planning and design in various fields, strengthen communication and exchanges at all levels, and make greater efforts to promote a higher level of mutual benefit and win-win results and better benefit the people of the two countries.
Ministry of Industry and Information Technology: Work plans for stabilizing growth in ten key industries including steel, nonferrous metals, and petrochemicals will be released soon
Xie Shaofeng, chief engineer of the Ministry of Industry and Information Technology, said at a press conference held by the State Council Information Office on July 18 that the work plan for stabilizing growth in ten key industries, including steel, nonferrous metals, petrochemicals, and building materials, will be released soon.
The Ministry of Industry and Information Technology will promote key industries to focus on adjusting structures, optimizing supply, and eliminating backward production capacity.
The work plan for stabilizing growth in the steel industry will be released soon, which will help boost market confidence and benefit steel prices.
