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Market participants in East China anticipate little affection on the local steel mills even if the speculated three-month winter restriction in China’s Yangtze River Deltacovering mostly East China becomes a reality in the end.
A draftplan on the possible curbing over steel, coal and coke sectors over November-February in East China
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The Purchasing
Managers’Index for China’s domestic steel industry declined further for
the second consecutive month in September,
down 1.4basis points on
month to 52, according to the latest release by the index compiler - CFLP Steel
Logistics Professional Committee (CSLPC) on September 30, mainly as steel
production and stocks were on the rise while demand softened
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The Tangshan Q235 billet price dropped to nearly two-month low at Yuan 3,840/tonne ($565/t)EXW and including the 16% VAT on September 30, the last working day before China’s National Day holiday on October 1-5, even though it rebounded Yuan 20/t day on day, amid the growing concern upon the domestic
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Beijing’s shift of its focus onto detailed air pollution
control guidelines for the “2+26” cities over October 1-March 31 2019, which
differs from the specific and detailed blanket control over polluting
industries including steel on their capacities,will by no meanssuggest “the loosening in control or lower severity
in essence from the 2017 winter”, according
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Crude steel output among the 64 countries in the regular survey of the World Steel Association (WSA) increased2.6% on year to 151.7million tonnes, according to the latest data released by WSA late on September 25.
The August growth was3.2 percentage pointslower than July’s yearly growth, according to WSA’s data.
China remained the
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The local government of Xingtai City in North China’s Hebei province is beefing up efforts to reduce excesssteel capacity and accelerate the relocation of industrial enterprises from urban centres in response to provincial and central government pressure to improve air quality, market sources said.
In a post on its website earlier
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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Authorities in North China’s Tianjin
municipality have found two small factories operating ‘illegal’ induction
furnaces and arrested four suspects involved in operating the furnaces, Tianjin
Daily, the city’s official media, reported on September 12.
According to the daily, a tipoff from the
public led special task forces from the city to recently raid two steel
factories
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This winter, work on construction sites in North China is likely to slow or be suspended no earlier than the traditional beginning of the season – around November 15 – in line with government-backed efforts to reduce dust and other sources of atmospheric pollution, Mysteel has learned.
“We haven’t received any
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Local authorities in Wuhu City in East China’s Anhui province have introduced emergency restrictions on the operative capacity of blast furnaces in use at local steelmakers, according to a September 5 document released by Wuhu City Environmental Protection Bureau seen by Mysteel.
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More details have emerged about plans by Baowu Steel Group Corporation, China’s top steelmaker by capacity, to install a third blast furnace and converter at its Zhanjiang works in South China’s Guangdong province, Mysteel has learned. These were contained in an August 28 post released by Guangdong Economic and Information Commission announcing that the project is open for public review over August 28-September 27.
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Fushun Special Steel Co, based on Northeast China’s Liaoning province, posted a net loss of Yuan 69.54 million ($10.2 million) for the first half of 2018, down by a huge 217% on year, according to the company’s semi-annual financial report.
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The Purchasing Managers’ Index for the steel sector in North China’s Hebei province reversed up 3 basis points month on month to 48.8 in August, which was mainly because of improvement in new orders, according to latest release from Hebei Metallurgical Industry Association (HMIA) on September 1.
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The Purchasing Managers’ Index for China’s domestic steel industry declined in August, albeit by a tiny 1.4 basis points on month, to 53.4, according to index compiler, CFLP Steel Logistics Professional Committee. Nevertheless, though still in positive territory this brought an end to a five-month run of increases, showing that the sector’s growth pace has slowed down, CSLPC said. The result was still above the threshold of 50 connoting growth, Mysteel notes.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry nudged up 0.1 basis point on month to 51.3 for August, or staying above the benchmark 50 for the 25th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on August 31.
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The privately-owned mills in China’s steel industry contributed to a majority of 58.6% of China’s total steel output in the first half of 2018, according to a post on the China Chamber of Commerce for Metallurgical Enterprises (CCCME) on August 28.
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China’s ferrous smelting and processing sector continued to reap considerable profits during January to July with industrial profits soaring 97.8% on year to Yuan 230.5 billion ($33.9 billion), according to latest release from China’s National Bureau of Statistics on August 27.
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Crude steel output among the 64 countries regularly monitored by the World Steel Association jumped by 5.8% on year and by 2.1% on month in July to reach 154.6 million tonnes, according to the latest WSA data released on August 27.
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Altogether 12 steel mills in North China’s Shanxi province are planning to upgrade their old iron and steel capacities via new facilities that will be totalling around 20 million tonnes/year in ironmaking and 17.4 million t/y steelmaking, an official from the Shanxi Provincial Commission of Economy and Information Technology confirmed on August 24. Public comments will be accepted until September 18.
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Jiangsu province in East China has pledged to upgrade and transform the local steel industry and thus meet its target of eliminating 17.5 million tonnes/year of iron and steelmaking capacity during 2016-2020, according to a newly-released local government document seen by Mysteel.
