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Japanese spot prices of heavy plate have risen by Yen 2,000-3,000/tonne ($18-27/t) over the past week, mainly on tighter supplies from producers and a rush of orders from dealers anticipating even higher prices ahead, sources in Tokyo said on Friday.
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For May, Japan’s exports of finished steel in all grades and forms rose by 10.9% on year to about 2.75 million tonnes, or the first month with an on-year gain after 12 consecutive months of drops, according to the preliminary data released by Japan’s Ministry of Finance on June 16.
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Coke market participants are closely monitoring what measures government authorities in East China’s Shandong might adopt to keep the province’s coke output under control, as part of the province’s work to rein in coal consumption.
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During the 14th Five Year Plan period over 2021-2025, China’s coal industry should go through further optimization by capping the number of the operative coal mines within 4,000 and raising the contribution to the country’s annual coal production by the larger-sized mines each with 1.2 million tonnes/year and above to over 85% by the end of the period, the China National Coal Association (CNCA) proposed.
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Shanxi, China’s top coking base located in the northern region, has exceeded Beijing’s order by capping its coking capacity at 143.7 million tonnes/year by early June, according to a post by Shanxi's Department of Industry and Information Technology on June 3.
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For April, Japan’s carbon steel exports dropped by 4.2% on year to about 1.72 million tonnes, according to the latest data released by the Japan Iron & Steel Federation (JISF) on May 31, which was the 12th month with an on-year decline, though an JISF official dismissed any concern, emphasizing that the country’s steel exports had been improving.
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Kobe Steel, Japan’s third largest integrated steelmaker, has raised its wire rod and bar list prices by Yen 5,000/tonne ($46/t) for July sales to both its domestic and overseas customers as part of the efforts to pass on some added input costs, a company official confirmed on June 1.
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China’s steel mills should conduct a more thorough study when exploring overseas steel investment opportunities either in greenfield projects or takeovers of existing steel assets, as risks have been arising in steel overcapacity in some countries or the growing difficulties in receiving funding, Ruan Qinghua, vice general manager of Capital Engineering & Research Incorporation Limited of Metallurgical Corporation of China (MCC) reminded the market.
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The new guideline governing steel capacity ‘swaps’ in China to take effect next week will help the steel industry to meet new challenges over 2021-2025, said Lv Guixin, an official with China’s Ministry of Industry and Information Technology, and called for its strict implementation.
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For April, Japan’s crude steel production including both carbon and special steel rose by 18.9% on year to about 7.82 million tonnes, or the second month scoring an on-year rise, according to the latest data from the Japan Iron & Steel Federation (JISF) on May 21.
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Anyang Iron & Steel Group (Angang), a 10 million tonnes/year steelmaker headquartered in Anyang city of Central China’s Henan province, formally blew-in a 1,860 cu m blast furnace at its greenfield steelworks in Zhoukou city, also in Henan, on May 18, the steelmaker announced via a Wechat post the same day.
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Japan’s sales of finished carbon steel items during fiscal 2020 (ending March 2021), fell by 9% on year to 56.8 million tonnes, according to the latest data released by the Japan Iron & Steel Federation on May 17, the lowest that ordinary steel sales have plunged since the 55.96 million tonnes total in fiscal 1970 when the Japanese economy was haemorrhaging from the first Oil Shock. “It’s clear to see the negative impact of the COVID-19 outbreak,” a JISF official commented Tuesday.
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China’s National Development and Reform Commission (NDRC) and Ministry of Information and Technology (MIIT) are inaugurating a nationwide probe to verify the progress made in terms of steel capacity elimination since 2016, a re-examination which market insiders suggest could be a precursor to the central government unveiling new measures aimed at limiting crude steel output this year.
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After nearly one and a half years of long wait, China’s Ministry of Industry and Information (MIIT), the governing body of the domestic steel industry, released the updated detailed guidelines regarding the old-for-new steel capacity swaps in China on May 6, and it will take effect on June 1 nationwide.
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Japan’s carbon steel exports during fiscal 2020 (April 2020-March 2021) declined by 12.8% on year to some 20.26 million tonnes, according to the latest data released by the Japan Iron & Steel Federation on April 30, a fall the JISF attributed to the global coronavirus outbreak.
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Japan’s crude steel output during fiscal 2020 (April 2020-March 2021) including both carbon and special steel declined to a new low since fiscal 1969, down 15.9% on year to about 82.8 million tonnes, according to the latest data from the Japan Iron & Steel Federation (JISF) released on April 22.
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Nippon Denko, Japan’s largest high-carbon ferromanganese producer, will shut its 80,000 tonnes/year Kashima plant in Ibaraki prefecture near Tokyo by the end of 2021 due to less demand for steel and thereafter FeMn, and its 220,000 t/y Tokushima plant on Shikoku Island in western Japan will be the core production base, a company official confirmed on April 21.
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Kyoei Steel, Japan’s largest rebar producer, has decided to increase its rebar price by 3,000/tonne ($28/t) to Yen 85,000/t for all its four plants across Japan for May domestic sales, mainly to transfer higher input costs and also to brace for rises in raw material prices in the future, the company announced on April 20.
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Japan’s finished steel exports of all grades and forms for the fiscal year 2020 (April 2020-March 2021) slumped to its 20-year low of about 30.8 million tonnes, or down 12.2% on year, Mysteel Global noted from the latest preliminary data released by Japan’s Ministry of Finance on April 19.
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Domestic sales of carbon steel products in Japan in February totalled 3.11 million tonnes, up 3.8% on year and made for the third consecutive monthly on-year rise, according to the latest data released by the Japan Iron & Steel Federation on April 16, suggesting that the country’s steel demand is steadily recovering. The February sales were down 5% from January, however.
