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Maruti Suzuki and Toyota Tsusho Group announced setting up one-of-its-kind vehicle dismantling and recycling joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI). The joint venture named Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) will have both the companies holding 50% share each, further strengthening the relationship between the two.
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Steel market sources in and out of China are divided on the recent news that Jingye Group, a privately-owned rebar maker in North China’s Hebei province, is mulling to acquire British Steel, arguing possible new markets will also bring along a series of uncertainties.
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Nippon Steel, a major steel producing company of Japan is going to integrate and reorganise its different units into four steel works by 01 Apr’20. As per the press release issued by the Nippon Steel Corporation, the restructuring of these units is being carried out as a part of organisational and operational review.
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Mysteel’s national average price of 600 ultra-high-power (UHP) grade electrodes in East China’s Jiangsu province kept stable on week at Yuan 45,000/t ($6,338) including the 13% VAT as of October 25, still at a 28-month low, according to Mysteel’s database.
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Six Chinese scrap and waste processing companies, mainly located in East and South China, have secured limited quotas allowing them to import 2,780 tonnes of ferrous scrap in total this year, according to the latest list recently disclosed by the China Solid Waste and Chemicals Management, the state conduit regulating the import of waste materials under the Ministry of Ecology and Environment.
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China’s graphite electrode market has remained weak over the past month, with Mysteel’s benchmark price for 600mm ultra-high-power (UHP) grade electrodes in East China’s Jiangsu province sliding by a further Yuan 2,000/tonne ($282/t) or 4.3% on month to hit a 28-month low of Yuan 45,000/t including the 13% VAT as of October 15.
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Hoa Phat Group, the largest steel manufacturer in Vietnam, has hot commissioned the second of four converters that will form the core of the company’s new 4 million tonnes/year steel works under construction at Dung Quat in Quang Ngai province in South-central Vietnam.
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Odisha govt. has today (i.e 14th Oct 2019) invited bids for grant of ten more iron and manganese ore mining leases via Phase II. In this phase few key iron ore mining leases that are being auctioned include - Rungta's Jajang mine, Serajuddin Balda block, GS Mishra & Sons & BICO.
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The blast furnace capacity utilization rate among the 247 blast furnace steelmakers across China under Mysteel’s weekly survey recovered 6.61 percentage points on week to 76.94% as of October 10, as some steel mills in China that had been under restrictions have resumed normal operations gradually in early October, according to Mysteel’s latest weekly survey released on October 11.
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While global steel scrap prices continue their slow decline, China's scrap market remains quite strong with prices increasing for two successive days after China’s National Day break to reach a relatively high level, according to Mysteel’s latest survey.
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China has just put the longest 1,813.5 km Haoji Railway (originally Menghua Railway), a heavy-duty railway line for coal transportation, into operation on September 28, according to a release by the China State Railway Group Co on the very day.
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“Qingdao Port can dock the largest iron ore vessels in the world,” officials from Dongjiakou port, part of Qingdao port operations in East China’s Shandong province, said matter-of-factly. They were leading a field trip of around 20 local and international delegates from the 19th China International Steel & Raw Materials Conference which Qingdao hosted where two recurring themes had been safeguarding China’s voracious appetite for steelmaking raw materials and the challenge the country’s steel industry faces to protect the environment. The visit to Dongjiakou port showed that at this facility anyway, the industry is successfully achieving both.
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It will be by no means easy for China to realize its target to have its top ten steelmakers contribute to 60% of the country’s total steel output by 2020, though all the leading producers are sparing no efforts to work towards the goal, officials from China Baowu Steel Group admitted at the 19th China International Steel & Raw Materials Conference on September 26.
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The operational rate of blast furnaces at 247 sampled integrated steel mills across China hit its new low of 70.85% over September 20-26 ever since March 2 2018 when Mysteel started the survey, or down 10.33 percentage points on week because of the emergency curbs on steel mills in North China’s Hebei, according to Mysteel’s latest weekly survey released on September 27.
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Many electric-arc furnace (EAF) steelmakers across China have returned to the market to procure scrap after gradually resuming production following stoppages for maintenance, according to Mysteel’s latest survey released on September 25. Others whose furnaces are still switched off are nonetheless preparing to re-enter the market as the profit margins available for EAF producers are increasing, respondents said.
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Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, is striving to achieve “green” and “smart” manufacturing to speed the qualitative development of China’s steel industry, Baoshan Steel President Hou Anhui disclosed at the 19th China International Steel & Raw Materials Conference on September 26.
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China’s domestic output of graphite electrodes at 18 major surveyed producers maintained strong growth momentum during the first seven months of 2019, with production rising by another 13% on year to 394,000 tonnes, according to data disclosed by the China Carbon Industry Association (CCIA) released on September 24. Within the total, output of ultra-high-power (UHP) grade electrodes increased by a whopping 39% to 200,000 tonnes.
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China Baowu Steel Group Co (Baowu), China’s largest steel producer, is actioning a plan to advance electric arc furnace (EAF) steelmaking, with many EAF steel projects currently under study at its subsidiaries nationwide, a Baowu official confirmed.
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India, now the second largest steel production country in the world, is expected to see its rude steel output grow by about 6% on year to 113 million tonnes in 2019, slightly higher than the 5.1% year-on-year rise for 2018, Nishtha Mukerjee, Head of Research from SteelMint – an Indian steel market intelligence provider, shared at the Asia Steel Forum 2019 on September 19 in Shanghai, China.
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Most Chinese electric arc furnace (EAF) steel producers won’t be turning off their equipment for the country’s week-long National holiday over October 1-7 but will continue to maintain normal production, several mill officials told Mysteel Global on Thursday.
