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In March, aluminum contributed the most to China's production of ten major nonferrous metals with 2.8 million tonnes, or up 4% on year, compared with a total output at 4.5 million tonnes for the ten metals including aluminum, copper, lead, zinc and nickel, or up 3% on year, according to the latest detailed data released by National Bureau of Statistics.
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South Korean steel giant POSCO says its crude steel production during this year's first quarter slid by 279,000 tonnes or 3% on quarter to 9.3 million tonnes but mainly due to there being "fewer calendar days" during the period, the firm's Q1 earnings release on April 24 showed.
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China mined 66.89 million tonnes of run-of-mine (ROM) iron ore in March, representing a mild decrease of 0.4% on year. Last month's result took total ROM iron ore output over January-March to 189.46 million tonnes, up 1.9% year on year, according to the latest data just released by China's National Bureau of Statistics (NBS).
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Chinese domestic prices of rebar should continue tracking upward over the short term as market players envisage the robust demand for the construction steel product continuing to linger, market sources shared on April 24. But they warned that prices were unlikely to refresh last December's 74-month high anytime soon.
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China will trim another 30 million tonnes/year of excess and outdated steel capacity in 2018 as part of the central government's ongoing supply-side reforms, according to a joint notice issued on April 20 by six powerful central government departments.
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Daily crude steel output among China's major steelmakers climbed by 5% or 90,000 tonnes/day over April 1-10 from the previous eleven days to 1.88 million t/d, according to the latest data from the China Iron and Steel Association (CISA) on April 23.
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Crude steel production in Japan during the fiscal year 2017 ending March 31 slipped by 0.3% on year, or the first annual decline in two years, according to the data released by the Japan Iron & Steel Federation on April 20.
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The price of Q235 billet in Hebei province's Tangshan, the barometer of China's steel market, jumped another Yuan 80/tonne ($12.7/t) on week to Yuan 3,560/t EXW and including the 17% VAT as of April 20, according to Mysteel's latest weekly survey. Industry players cited the continuing improvement in steel demand and firm market sentiment.
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Bengang Steel Plates Company, the Shenzhen-listed arm of China's Benxi iron & Steel Group (Bengang Group), plans to produce 9.2 million tonnes of crude steel in 2018, or up 3.4% on year, according to the company's 2017 annual report released on April 20.
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Construction steel stocks at the 139 surveyed steelmakers across China continued to dwindle over April 12-18, with rebar and wire rod stocks being down 9.8% and 10.4% on week respectively, according to Mysteel's latest weekly survey released on April 20.
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Buying interest in hot-rolled coil has been waning in China with the national average benchmark price for the Q235B 4.75mm HRC up by Yuan 72/tonne ($11.5/t) week on week to Yuan 4,075/t including the 17% VAT as of April 20, market sources noted.
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Some large-sized coking plants in China explored the possibility of idling 15-30% of their coking capacities at a recent industrial meeting as part of the efforts to rescue the domestic coke price from further declines, an industrial source confirmed on April 20.
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China will totally ban the imports of 16 waste solid materials for steel, nonferrous metals and plastics recycling starting December 31 and December 31 2019 respectively, according to the latest release from the newly-formed Ministry of Ecology and Environment on April 19.
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Shanxi Taigang Stainless Steel Co (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, aims to produce 7.8 million tonnes of pig iron and 10.5 million tonnes of crude steel this year, the latter unchanged from last year, according to the company's 2017 annual report released on April 20.
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Hesteel Company, the Shenzhen-listed arm of China's N0.2 steel mill - Hebei Iron & Steel Group, target to lift its crude steel output moderately by 1.4% from last year to 27.3 million tonnes for 2018 on its remaining confidence on China's steel market, according to its 2017 annual report released on April 20.
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China's steel industry has managed to return to the track of concentration since 2017 thanks to Beijing's efforts in excess steel capacity cuts and environmental protection, the China Iron & Steel Association notes.
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The reborn specialty steelmaker located in Northeast China's Heilongjiang province, Jianlong Beiman Special Steel, is celebrating the posting of its first profit - an impressive Yuan 3.26 million ($520,110) - from its March business. The result brought an end to the monthly losses the carbon and specialty maker has been struggling with since it resumed operations last November.
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China's capacity utilization rate across heavy industrial sectors increased 0.7 percentage point year on year to 76.5% for the first quarter of 2018, according to the latest data from the country's National Bureau of Statistics.
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Domestic steel prices in China are expected to remain rangebound over the near term given the rapid jump in steel production at a time when domestic demand remains stable, according to the latest release by the China Iron & Steel Association (CISA) posted on April 18.
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Japanese integrated mills Nippon Steel and Sumitomo Metal Corp (NSSMC) and Kobe Steel have each announced plans to expand production of high-strength sheets for automotive applications at their works in Japan.
