debts rise at chinas big steel mills

China's clout is growing on the edge of the EU, and the US is worried

Sep 14, 2019HBIS Group, or Hesteel Group, a state-run steel manufacturer, bought the mill for a premium of $52 million, and promised tens of millions more in the future. Of the 66,000 people who live in...

Contra Corner The Red Ponzi Implosion Begins-China To Layoff 5-6 ...

Although China has promised to help local banks transfer the bad debts of zombie steel mills to asset management firms, local governments are not expected to gain access to the worker lay-off funds until the zombie firms have actually been shut down and debt issues settled. ($1 = 6.5476 Chinese yuan)

China and Evergrande ascended together. Now one is about to fall

Sep 29, 2021Debt-saddled corporate giants like Evergrande were given the freedom to "open their bloody mouths and devour the wealth of our country and our people until they are too big to fall," Li ...

Nippon Steel says iron ore prices likely to ease towards March

Spot prices of 62% iron ore for delivery to northern China MT-IO-QIN62=ARG, as assessed by commodity price reporting agency Argus, rose to a 6-1/2-year high last week, as mills in the world's ...

The Indian steel industry: Growth, challenges and digital disruption - PwC

usage of steel stood at 1712.1 MT, up from 1632.5 MT in 2017. Per capita consumption of steel increased to 224.5 kg in 2018 from 216.3 kg in 2017.6 Globally, the steel industry has witnessed astonishing growth in the last 50 years. The World Steel Association recognises steel as the foundation for the last 100 years of progress and

Port Report: Capesize dry bulk rates may be at bottom after series of ...

Ocean shipping, it must be remembered, experiences derived demand. Malpas points out that demand for capesizes on the 30-day C5 route (Australia-China) is driven by the demand that Chinese steel mills have for iron ore, which is the primary ingredient in steel. Malpas says that Chinese mills have tended to restock their iron ore stockpiles ...

Evergrande's Struggles Offer a Glimpse of China's New Financial Future ...

Sep 28, 2021Many fear they will become unwitting victims in China's debt-reform campaign. Yong Jushang, a contractor from Changsha in central China, still hasn't been paid for the $460,000 of materials and...

Why China's property mess is Australia's problem

Sep 21, 2021It coincides with China's attempt to impose cuts to steel production to reduce carbon emissions for which the mills are responsible for between 10 and 20 per cent. Evergrande's fallout is ...

China's Surprising Solutions to Air Pollution - Science

The economic rise has lifted hundreds of millions of people out of poverty—and in Tangshan, out of utter ruin. But it has also left many of them with undrinkable water, tainted food, and toxic air....

Sinosteel woes resurrect China debt concerns | Financial Times

That reluctance came to the fore this week following allegations in Chinese media that Sinosteel, an importer of iron ore for many of the country's steel mills, holds at least $12.6bn in overdue...

What everyone needs to know about China's debt load - Quartz

So the point is that China had a pretty stable debt-to-GDP ratio fro a long time. But over the last few years its gone up really fast it's gone up from 140% of GDP to 240% in seven years. And...

Steel bar sales slump - Newspaper - DAWN.COM

Subsequently, the rates of good quality steel bars, which usually rise after currency depreciation, have fallen to around Rs100,000 per tonne from Rs103,000-104,000. Mowjee, however, brushed away ...

China Makes Big Move On Battery Metals In Africa

Apr 27, 2021Trade between China and Africa has surged dramatically from US$1 billion in 1980 to US$128 billion in 2016, while cumulative loans to African governments have hit US$143 billion, with half of them...

Awash with an oversupply of Chinese steel and no end in sight

Results released so far this year show five listed steel mills posted losses of greater than 1 billion yuan ($203 million) in 2015. The worst performance was recorded by Chongqing Steel, in the...

With Protests on the Rise, State Sector Facing Layoffs - China Digital ...

Bloomberg reports on the decline of a steel mill in Tonghua, Jilin, which was beset by protests in 2009 after plans were announced to sell the state-owned mill to a private company.

How China's Energy Crisis Has Sent Commodity Markets Reeling

Oct 18, 2021Chinese steel mills will have to keep output at August's depressed level for the rest of the year so as not to exceed 2020 levels. And the restrictions keep coming. The Ministry of Industry last week asked more steel mills to cut production from Nov. 15 to March 15 next year to achieve the output reduction target.

Steel Industry Rides on Zooming Prices: 5 Red-Hot Stocks to Buy - Yahoo!

Mar 23, 2021HRC prices have catapulted to levels not seen since 2008 on U.S. steel mills' back-to-back price hike actions, tight supply and surging end-market demand. HRC prices zoomed past $1,200 per short ...

Old woes and new: business turmoil awaits Italy's election winner

6 days agoAccording to Milan-based economic think-tank Cerved some 24.5% of Terni's 16,000 firms are at risk of bankruptcy in the near term, the second highest level of any place in the country after Crotone in the depressed southern region of Calabria.

As growth slows, the spectre of local-government debt looms once more ...

At last count China had 11,566 LGFV s. According to the IMF, when they are factored in, government debt rises to about 70% of GDP. This is worrying for three reasons. The first is the trajectory,...

Britain sacrifices steel industry to curry favour with China

Mar 31, 2016The giant state producer Sinosteel - with $16bn of debts - was rescued from bankruptcy in October. The reforms failed their first big test. UBS estimates that the 100 biggest steel producers in...

China Can't Sustain Its Debt-Fueled Binge, Moody's Says

May 23, 2017China's debt has been increasing lately by an amount equal to about 15 percent of the country's output each year, to keep the economy growing from 6.5 percent to 7 percent. Overall debt in China,...

Old woes and new: business turmoil awaits Italy's election winner

6 days agoBusiness turmoil awaits Italy's election winner. By Gavin Jones and Angelo Amante. TERNI, Italy (Reuters) - Inflation, looming recession and impossibly high energy bills are among the daunting economic problems awaiting whoever wins Italy's election on Sunday, and they are casting a particularly long shadow over the industrial city of Terni.

How do you sell steel? | Yale Insights

Steel is a ubiquitous part of both the industrial economy and the consumer economy. The steel business in the U.S. was at the vanguard of restructuring. Long before the automotive industry, for example, the steel industry had already gone through huge bankruptcies, Chapter 7 liquidations, and difficult changes in employment practices.

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The Swift Collapse of a Company Built on Debt - The New York Times

Mar 28, 2021Even though steel prices are relatively high, GFG has been hampered by the pandemic, with some mills shut or operating intermittently. In Britain, where Mr. Gupta's companies employ 5,000, trade ...

Steel prices continue to rise but domestic concerns may derail a global ...

May 17, 2021A big export opportunity. Rising steel prices are a global phenomenon. The report says that prices in Europe rose by $20 per tonne to a record $1,185 per tonne, while Chinese domestic prices ...

China's steel meltdown will ripple around the world

Highsee Iron and Steel Group, a large private firm in Shanxi province, is mired in debt. There is a long queue of creditors and banks seeking recovery, according to Caixin, the Chinese online...

Will China's "Debt Diplomacy" Backfire? | OilPrice

China's string of pearls. ... The government said earlier this year its debt will rise to $77.3 billion, or 70.8 percent of GDP, by the end of 2018. ... European Stainless Steel Mills Are ...

China's response to the global financial crisis | East Asia Forum

In 2004, China's steel production was about 400 million tons. Concerned about overcapacity, the government clamped down on construction of new steel mills. But strong demand for steel, attributable to real estate development and strong export demand, meant new steel mills continued to appear. China's steel production rose to more than 600 ...

Ahead of winter, Chinese steel mills rush to meet stricter smog rules

"Big mills are enforcing the emission regulations, but for some debt-laden producers, funding is a big obstacle," said Zhao Yu, steel analyst at Huatai Futures. Closures of sintering plants will...

How China Impacts the Global Steel Industry - Investopedia

Jan 31, 2022Steel Industry ETF: A sector exchange-traded fund that invests only in companies that manufacture and market steel. The steel industry is very cyclical, as demand surges during economic boom times ...

National Debt Under Trump | US Deficit & Trade | Self.

Data & Guides Money National Debt Under Trump The national debt under President Trump increased from $20,244,900,016,053 to $27,751,896,236,415 (20th January 2021). [13] That's $5.138 billion a day. In less than one term, the debt under Trump's presidency increased more than $7.5 trillion.

China Makes Big Move On Battery Metals In Africa

Apr 27, 2021According to the China Africa Research Initiative (CARI) at Johns Hopkins University, between 2000 and 2019, China extended US$42.6 billion worth of loans to Angola, good for 30 percent of its ...

Chinese cities put tax heat on steel mills | Financial Times

January 30 2013 Cash-strapped local governments in China have started demanding taxes from the country's steel mills up to two years in advance, an unusual practice that highlights how desperate...

Green Steel: How Arkansas Became Home To America's Cleanest And Fastest ...

Aug 6, 2019Though tiny relative to North Carolina's Nucor, Big River is hands down the most technologically advanced and fastest-growing steel producer in North America. With only 513 employees its cash ...

Steel Industry: Steel Production News, Steel Price in India, Steel ...

The steel demand in China, which accounted for 52 per cent of the global demand in 2021, is witnessing a decline as the economy prepares for the combined impact of the property bubble, strict zero Covid lockdowns, and a severe ongoing heatwave. Tata Steel infuses around Rs 54 crore in TSML Aug 30, 2022

Steel prices have tripled. Now Bank of America is sounding the alarm

May 6, 2021After bottoming out around $460 last year, US benchmark hot-rolled coil steel prices are now sitting at around $1,500 a ton, a record high that is nearly triple the 20-year average. Steel stocks...

bne IntelliNews - Energy crisis: Europe's industry shutting down

Sep 20, 2022Other big steel mills in the firing line are Acerinox SA, Salzgitter AG and Liberty Steel. Spain's Acerinox has already partially closed one plant in Cadiz, where a stainless steel mill has halted but other hot and cold rolling lines are still working. The company has also furloughed 1,800 workers, 85% of its work force.

China Can't Sustain Its Debt-Fueled Binge, Moody's Says

May 23, 2017China's debt has been increasing lately by an amount equal to about 15 percent of the country's output each year, to keep the economy growing from 6.5 percent to 7 percent.

China's ghost cities and their multibillion-dollar debt are raising ...

Even worse, China's cities and towns have amassed a mountain of debt in near-record time. at the end of 2008, China's local governments owed about 5.6 trillion yuan in debt. Eight years later, the ...