Under the action of many factors, the short-term rebar price is easy to fall but difficult to rise.

The increase took overall shipments for the last year to 407mn, slightly higher than a government-set target for the year of 400mn t.

"[Rail operator] Transnet Freight Rail (TFR) is cancelling many trains," said one supplier.

Japanese steel mill Nippon Steel expects its crude steel output in this year's January-March quarter to recover above 10mn t for the first time since January-March 2020.

The German Business Daily reported recently, the German Steel Association said, German crude steel production in 2020 was 35.7 million tons, down 10% from the weaker 2019, the lowest level since 2009.

According to the news, the Ministry of Finance of India released its 2021 budget on February 1 and said it would reduce import duties on some stainless steel products.

Myanmar's military coup spurs growth of rare earth metals market

Bahia Mining Company begins production of iron ore in Pedra de Ferro