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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.
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Local authorities in Beijing-Tianjin-Hebei region of North China will differentiate restriction measures on individual steel mills during the 2018-2019 winter months to guarantee a fairer and more effective result in improving the regional air quality, Mysteel understands from a planning draft that is reportedly from China’s Ministry of Ecology and Environment (MEE) late last week.
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Changzhou Eastran Special Steel Co, headquartered in East China’s Jiangsu province, plans to build new upstream facilities to lift both production volume and environmental protection performance, according to an official announcement released by Jiangsu Economic and Information Technology Committee on August 2.
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Jiangxi Fangda Steel Group, one of China’s most profitable steelmakers headquartered in Nanchang, East China’s Jiangxi province, has called off the acquisition of the state-owned Xining Special Steel Group on having failed to reach an agreement with the latter’s stakeholders, a Xining Special Steel official confirmed on August 3.
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Local authorities of different levels in China have intensified their efforts in curtailing polluting industries with steel at the core of attention to support Beijing’s initiative of “Blue Sky Safeguard” plan over 2018-2020 in the long term and air quality improvement in the short term, Mysteel notes.
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Zenith Steel Group Company, a leading producer of high-quality and special steel bar and wire rod in China, mulls relocating its steel capacities to the coastal city Nantong in East China’s Jiangsu province, a Zenith official confirmed a post by the Nantong government on July 31.
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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The Purchasing Managers’ Index for China’s domestic steel industry saw a surprising jump of 3.2 basis points on month to 54.8 in July, showing the sector has expanded now for five straight months, according to index compiler, CFLP Steel Logistics Professional Committee (CSLPC).
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry stayed above the benchmark 50 for the 24th successive month for July, indicating a continuing expansion, though the it fell by 0.3 basis point on month to 51.2, according to the latest release by China’s National Bureau of Statistics on July 31.
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The price of the most-traded nickel contract on the Shanghai Futures Exchange for September has tracked down since entering July, with Wednesday's settlement price losing Yuan 2,820/tonne ($434/t) on day to close at Yuan 112,660/t.
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Many overseas investors have already or are exploring steel investment opportunities in the ASEAN region as many ASEAN countries are with great market potential with their fast-growing economies, Mysteel understands from the market sources.
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Prices of stainless steel across China remained steady during the June 22-28 week, with the price of SUS 304 grade 2.0mm cold-rolled stainless coil in Foshan, China's major stainless trading hub in South China's Guangdong province, remaining at Yuan 15,950/tonne ($2,417/t) for a sixth straight day as of June 29, according to Mysteel's database.
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Tsingshan Holdings, China's top stainless producer, has commissioned the third and final phase of its stainless rolling plant in Indonesia's central Sulawesi province, the company has announced. The formal commissioning on June 20 added 1 million tonnes/year of stainless rolling capacity to take total capacity to 3 million tonnes/year. Earlier announcements from East China-based Tsingshan refer to stainless hot- and cold-rolling capacity being built at the plant but details are not known. Tsingshan officials refused all comment to Mysteel.
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China's stainless steel industry will remain its capacity largely unchanged at 37 million tonnes/year for 2018 as against 36 million t/y in 2017, though it may grow steadily afterwards with new projects to replace existing facilities with low efficiency, Liu Yanping, Secretary General of Stainless Steel Council of China Special Steel Enterprises Association, said at the 3rd China Ferrous Derivatives International Conference in Shanghai on June 21.
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Baosteel Stainless Steel Co, a subsidiary of China Baowu Group, has permanently shut down its carbon and stainless slab mills on June 1 in Baoshan district, East China's Shanghai, after 17 years of operations, moving the capacity to South China, a company official confirmed on June 5.
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Chinese stainless steel maker Taiyuan Iron & Steel Group (TISCO) signed a cooperative structure agreement with Xishan Coal Electricity Group (Xishan Group) on June 1 to enhance their cooperation in aluminum, officials from both companies confirmed on June 5.
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Liuzhou Iron & Steel Group (Liugang Group), headquartered in Liuzhou city in South China's Guangxi Zhuang Autonomous Region, plans to install two 630 cu metre blast furnaces under a steel capacity swap plan the steelmaker has placed for public review on the website of Guangxi's provincial Commission of Industry and Information.
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The forced closures of induction furnaces in Dainan county, a major stainless steel production center in East China's Jiangsu province, threatens to cause a temporary supply shortage of stainless bar and wire rod, market sources in the area tell Mysteel. Prices of austenitic wire rods have jumped over the past week following news of the crackdown.
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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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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.
