China will continue to reduce its outdated production capacity of coal and steel this year, the country's top economic planner said Thursday.

Domestic prices for heavy steel place in Europe have been fairly stable over the week, but some mills have started to increase offers due to higher production costs, sources told Fastmarkets on Wednesday June 17.

Flat steel product shipments from EU steel service centers fell by 18.5% in January-April from the same 2019 period.

Activity in the European HRC market has remained slow this week due to ample stocks among distributors and persistently weak demand from end consumers.

The country saw its largest spike in Covid-19 cases on Sunday June 14 at 11,929 cases, according to local media reports.

United Arab Emirates producer Conares Steel has increased its rebar price to 1,774 dirhams ($483) per tonne ex-works, from the previous month’s level of 1,690 dirhams per tonne ex-works.

About 130 employees are being recalled for the startup, Panzeri said.

China's imports of both semi-finished and finished steel products surged in April.