Sales by China's major excavator producers continued to expand fast in May, adding to evidence that economic activity remains strong.The country's 25 leading excavator makers sold 19,313 digging machines in May, up 71.3 percent year-on-year, according to the China Construction Machinery Association.More than 17,700 machines were sold in the domestic market, up 69.6 percent year on year. Overseas sales surged 95.3 perc
R.W. Baird and FCH Sourcing Network released their monthly Fastener Distributor Index (FDI) for May on Friday, showing a modest decrease last month for the U.S. market— its fourth straight decline overall.The seasonally-adjusted May FDI showed a mark of 56.6, down from April's 57.4; March's 59.5; February's 60.4; and January's 60.8. Since a recent peak of 62.2 in October 2017, the FDI has declined in five out
The European Union will apply 25% “rebalancing” tariffs on a wide range of products imported from the United States, including seven categories of fasteners, effective from Friday 22ndJune 2018.The tariffs are in response to the Section 232 tariffs applied by President Donald Trump to steel and aluminium from the EU. Commissioner for Trade Cecilia Malmström said: "We did not want to be in this position. However, the unilateral
Steel tariffs could force the nation’s largest nail manufacturer to close or move to Mexico.The Mid-Continent Nail plant in Poplar Bluff, Missouri, laid off 60 of its 500 workers last week because of increased steel costs. The company blames the 25% tariff on imported steel. Orders for nails plunged 50% after the company raised its prices to deal with higher steel costs.The company is in danger of shutting production by Labor
Tokyo Steel Manufacturing Co., Ltd. said on Nov.21st, 2016 it would raise the prices of all of its products by 5,000 yen ($45.12) per tonne for December delivery, reflecting a rally in raw material prices and higher product prices abroad.Tokyo Steel's pricing strategy is closely watched by Asian rivals such as South Korea's Posco and Hyundai Steel Co and China's Baoshan Iron & Steel Co (Baosteel) that export t
Throughout history, the path to industrial development has been paved by steel industry. It has built up invaluable infrastructures, spearheaded technological development and spurred economic growth.For Iran, the steel industry is set to play an even more important role. After years of crippling sanctions, the country wants to get its industries back on track and streamline economic growth. This is while low oil prices have fa
KOLKATA: Domestic steel production is expected to remain high in the current year 2017-18 and is likely to rise by around 8-10%, an industry research report by CARE Ratings has said. However, steel prices may rise going forward as steel producers are expected to face increased cost pressure due to supply disruption and a steep surge in coking coal prices on account of Cyclone Debbie in Australia. The latter accounts for aroun
Chinese steel prices dropped for the second straight session to the lowest in a week as demand remained subdued, dragging down the key steelmaking raw material iron ore more than 3 per cent. Steel demand has remained weak since the Lunar New Year holiday in late February and is likely to recover gradually from mid-March. That is limiting gains in steel prices made over the past few sessions on expecta
