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China’s consumption of steel scrap will continue to grow steadily over the next five to ten years, in line with the country’s increased care for the environment for the healthier development of China’s steel industry, according to Wang Weixing, senior engineer of the Chinese Society for Metals. Moreover, China’s blast-furnace steel mills remain the country’s core scrap users.
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Chinese rebar output from the 137 major long steelmakers Mysteel canvasses across the country continued to firm strongly during the May 2-8 week, up by another 2.1% week on week to nearly 3.8 million tonnes, according to Mysteel’s latest weekly production study.
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China will improve consolidation in the steel, coal and coal-fired power sectors this year, as part of the central government’s campaign to streamline the country’s heavy industries, according to a May 9 announcement published by National Development and Reform Commission (NDRC), China’s central planning agency.
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Jiangsu province, China’s second largest steel production province after Hebei, has shared its detailed steel industrial upgrading and optimization plans and also volunteered to hit the ultra low emission requirements by the end of 2019, Mysteel Global understands.
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The Fortescue Metals Group will provide a wider scope of iron ore products with a ferrous content ranging 57-67% to better meet market needs, Greg Lilleyman, the company’s chief operating officer, told delegates attending the Singapore Iron Ore Week 2019 forum on May 9.
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China’s steel demand from key consuming sectors such as the property market and infrastructure construction is expected to remain stable for the rest of 2019, Wu Jingjing from the China Iron & Steel Association (CISA) shared at the Singapore Iron Ore Week 2019 forum in the city-state on May 9.
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Shanghai-listed Fangda Carbon New Material Company (Fangda Carbon) saw its net profit plummet by a substantial 62% on year to Yuan 713 million ($105.2 million) in the first three months of this year, mainly due to the tumble in market prices of graphite electrodes, according to its Q1 report.
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Both the Chinese authorities and the domestic steel mills have been quietly intensifying their endeavours in growing the country’s recycling business to be prepared for the greener growth in the next five to ten years.
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China’s domestic steel scrap market remained steady in general over April 28-May 4 both for demand and price with Mysteel’s steel scrap pricing index inching up Yuan 3.2/tonne ($0.47/t) or 0.1% on week to Yuan 2,544.6/t on delivery to mills and including the 13% VAT as of May 5.
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China wants more of its steelmakers to locate at the coastal areas - not just for their health but for everyone else’s. Begun tentatively a decade ago when land was needed for special events – the 2008 Beijing Olympic Games and Expo 2010 in Shanghai, to name but two – the relocation of steelmakers from city areas to coastal regions is now a heavily-promoted industrial guidance upheld by many local and provincial governments. Less widely publicized are the merits for the involved steel mills to get to know their new neighbours.
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Domestic demand for steel scrap among the countries of ASEAN will steadily rise in coming years, thanks to the continuing growth in steel consumption, Pichsini Tepa-Apirak, senior technical manager of ASEAN Iron & Steel Council told delegates attending the 12th China International Metal Recycling Conference 2019 held in South China’s Zhuhai on Friday.
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A notable uptrend in China’s steel scrap market is likely in the coming three months, mainly supported by the continuing improvement in domestic steel demand, Li Shubin, vice chairman of the China Association of Metalscrap Utilization predicted Friday at the 12th China International Metal Recycling Conference 2019 in Zhuhai city in South China’s Guangdong province.
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Chinese speakers and delegates attending the 12th China International Metal Recycling Conference over April 25-26 in South China’s Zhuhai city were divided on whether or when China should proceed with boosting the country’s electric-arc furnace (EAF) steel capacity to replace blast furnaces.
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China’s raw material industry should seek quality development instead of blindly chasing for quantitative achievement even though the latter seems to serving the purpose well, Wang Jiangping, vice minister of China’s Ministry of Industry and Information Technology (MIIT) emphasized at recently at an industrial event in Nanjing, East China’s Jiangsu province.
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Mysteel’s national benchmark price of 600mm ultra-high-power (UHP) graphite electrodes in East China’s Jiangsu province had plunged to a 21-month low as of April 16 to reach Yuan 54,000/tonne ($8,051/t) including the 13% VAT, according to Mysteel’s data base. Tuesday’s result meant prices had lost a total of Yuan 2,000/t or 3.6% from one month earlier.
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China’s domestic steel scrap market enjoyed a notable price recovery last week, with Mysteel’s steel scrap price index rising by Yuan 51.5/tonne ($7.7/t) or 2.1% from the previous week to reach Yuan 2,527.1/t on delivery to steel plants and including the 13% VAT as of April 12.
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The capacity utilization rate of the blast furnaces at the 247 Chinese steel companies across the country surged to its 24-week high of 81.74% as of April 11, as steel mills in the regions under the winter restriction until the end of March have been able to ramp up output in April when both demand and prices are in their favour.
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Hebei, the top steel producing province in North China, will remove 14 million tonnes/year of steel capacity this year as part of its efforts to combat air pollution over the province, according to a post from Hebei’s Provincial Ecology and Environment Department on April 11.
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China’s coal market is anticipated to stay balanced for 2019, with both supply and demand to increase, Li Xin, deputy director of economic operation department, China National Coal Association, shared on April 10 at the 2019 China Coal Market Annual Conference & Global Seaborne Coal Market Summit in Shanghai.
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Tangshan Dongri New Energy Materials Company in Tangshan, North China’s Hebei province, has started constructing a 100,000 t/y ultra-high-power (UHP) grade graphite electrode plant, a market source confirmed on April 10.
