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China mulls differentiating curbing measures among Chinese steel mills during the 2018 winter months depending on their individual waste emission situation, Wang Libin, President of Shijiazhuang Municipal Research Academy of Environmental Science, shared at a panel discussion at the Singapore Iron Ore Forum on May 24.
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Magang Group Holding Co (Magang) in Central China's Anhui province expects to commission a new reheating furnace for slabs within this month which the company says should help make production of hot rolled coils more efficient.
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Chinese production of ferrosilicon rose by an average of 5.7% or 23,395 tonnes to reach 431,150 tonnes in April, according to Mysteel's latest monthly survey among the country's 60 major FeSi smelters and released on May 23. The average was also 20.4% higher from a year ago, the survey found.
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Shougang Jingtang United Iron & Steel Co (Shougang Jingtang), a major steelmaker headquartered at Caofeidian in North China's Hebei province, is investing Yuan 1.3 billion ($205 million) to add new rolling facilities for producing high-strength galvanized sheets for automotive applications, a company official confirmed on May 22.
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China's National Development and Reform Commission on Monday confirmed that government authorities will begin a new round of random checks on steelmakers nationwide to ensure that scrapped or 'illegal' steel capacity is not being quietly reintroduced.
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China's daily crude steel output nationwide during the period of May 1-10 was estimated at 2.47 million tonnes/day, up 1.3% or 32,000 tonnes/day from the previous ten days, according to the latest released from China Iron and Steel Association (CISA) on May 22.
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Construction steel stocks at the 139 surveyed steelmakers across China returned to the downtrend with a minor 0.14% week-on-week slip over the week of May 10-16 after a short-lived rebound over the previous week amid the cautiousness among the traders for restocking, Mysteel's latest weekly survey showed.
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India's Tata Steel Ltd (Tata) has announced that the country's National Company Law Tribunal has approved its resolution plan for acquiring a controlling stake of bankrupt flat products maker Bhushan Steel Ltd (BSL). When the deal might be completed remains unclear, however.
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Formosa Ha Tinh Steel Corporation (FHS), the new integrated steelworks in north central Vietnam's Ha Tinh province, ignited its second blast furnace on Friday morning, officially doubling the mill's raw steel capacity to 7 million tonnes/year. A company official confirmed the blow in to Mysteel but declined to provide more details.
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The price of stainless 304/No.1 5mm hot-rolled coil in Foshan, one of China's core stainless trading hubs in South China's Guangdong province, has soared by Yuan 2,600/tonne ($413/t) or 22% as of May 16 - from the one-year low it hit on June 12 last year - and is now at Yuan 14,200/t in-warehouse including the 16% VAT, according to Mysteel's database. But the surge from last year's trough of Yuan 11,600/t is mainly due to the rise in raw materials prices and not the result of a huge change in demand.
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Formosa Ha Tinh Steel Corporation (FHS), the newly-integrated largest steelworks in Ha Tinh province, north central Vietnam, has indefinitely delayed the blow-in of its second blast furnace, a company source told Mysteel Thursday.
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China's domestic hot-rolled coils price stay on the uptrend on the boost of major HRC producers' price rises for the June sales, the latest being Anshan Iron and Steel Group (Angang) in Northeast China's Liaoning province, Mysteel noted.
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China's Ministry of Ecology and Environment is working on a draft plan which if fully implemented, will oblige the country's steelmakers to invest even more heavily in modern and environmentally friendly facilities, Mysteel learned from market sources Wednesday. A key focus - just after many Chinese mills spent a bleak winter on reduced capacity to aid pollution control - will compel Chinese steelmakers to meet tough new emissions standards.
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Shanxi Taigang Stainless Steel (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, says the suspension of trading in its shares on the Shenzhen Stock Exchange which took effect from mid-April will be extended for another month while it finalizes an acquisition, according to a company report on May 16.
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Despite the uptick in domestic demand that usually occurs in April at the start of spring, steel prices in China will not increase markedly over the near term given the rapid jump in steel output and the consequent threat of oversupply.
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Shanxi, China's top coal production base, has pledged to close down another 35 local coal mines with a total 22.4 million tonnes/year coal capacity in 2018 in its cooperation with Beijing's continuing supply-side reform, according to a local media post on Tuesday.
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China's domestic steel prices are likely to be rangebound in the near term throughout June, and supplies have been on the rise, offsetting the efforts by the Chinese mills and traders in destocking, market sources shared on May 15.
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China's daily crude steel output for April hit a record high at 2.557 million tonnes/day basing on the latest data released by China's National Bureau of Statistics on May 15, but it is not as alarming as it sounded, as domestic steel market and prices have so far been holding well, according to the market sources.
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Construction steel stocks at the 139 surveyed steelmakers across China rebounded over the week of May 3-9 after five weeks of continuing declines, partly due to the receding buying enthusiasm of traders amid the rain in South and Southwest China last week, according to Mysteel's latest weekly survey released on May 11.
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Shanxi Jianlong Industry Co (Shanxi Jianlong), a steel subsidiary of Beijing Jianlong Heavy Industry Group's in Yuncheng city, North China's Shanxi province, is awaiting the public review on its construction of a 1,680 cu m blast furnace under its steel capacity swap plan, according to a post by the Shanxi local authority.
