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[Ferro-Alloys.com] Shanghai-listed Baosteel, during a news conference held Aug. 28, said China's major steel end-users will continue recovering in the second half of the year, driving China's crude steel production 4% higher year on year in 2020 at 1.04 billion mt -- the first time ever that the country's steel production breaches 1 billion mt.
Baosteel expects China's vehicle production to drop 6% year on year to 24.2 million units in 2020, improving from a 11.8% year-on-year drop in January-July.
The United States lowered its import quota for shipments of semi-finished steel from Brazil for the remainder of 2020, amid challenging conditions in the domestic market, according to a presidential proclamation issued late Aug. 28.
Due to the depressed conditions, the remaining quota for Brazilian semi-finished steel products has been lowered to 60,000 mt, down from 350,000 mt, according to the US-based Steel Manufacturers Association (SMA).
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