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China’s steel industry has removed steel capacity equivalent to nearly 150 million tonnes/year since 2016, basically fulfilling the capacity reduction target the central government had set the industry, according to Chi Jingdong, deputy secretary general of China Iron and Steel Association.
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Between January and end-September, East China’s Shandong province had eliminated some 3.55 million tonnes/year of steelmaking capacity and 600,000 t/y of ironmaking capacity, the Shandong provincial government’s Ministry of Industry and Information Technology (MIIT) announced on November 26.
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Gross profits in China’s ferrous industry including ironmakers, steelmakers and fabricators, surged 63.7% on year over January-October, the highest among all the major industries other than oil and gas exploration, but it was down further by 7.4 percentage points from that over January-September, Mysteel notes.
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Steel mills in North China has lost the appetite to ship their extra rebar supplies to East China as price gap between the two regions are closing up with domestic steel price declines since early November, market sources shared on November 23.
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The city government of North China’s Tangshan has issued another emergency alert curtailing the sintering operations of local steelmakers during November 22-27 out of concerns for a spike in air pollution during the five days. But local producers have just shrugged.
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In a move aimed at creating ‘greener’ steel, China’s third largest steelmaking province, Shandong, aims to install more electric arc furnace capacity and more than double the EAF sector’s contribution to the province’s total steelmaking capacity to 20% by 2025.
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East China’s Shandong province has unveiled an ambitious seven-year rationalization scheme for its steel industry which it hopes will see the creation of two steel production hubs – one inland, one coastal – and increase the percentage of steel capacity in the coastal hub to 70% by 2025.
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The city government of Tangshan in North China’s Hebei has finalized the degree to which steelmakers in the city are to reduce production during the winter restrictions period, market respondents confirmed Tuesday. Given the city’s prominence as the supplier of the most steel in the world’s largest steel producing country, Tangshan’s advisory should be a crucial indicator of how China’s steel sector will manage this season’s production cuts. Unfortunately, it is not.
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Hongxing Iron and Steel Co, a steelmaker with 5 million tonnes/year crude steel capacity located in North China’s Hebei province, intends to start installing new facilities at its existing works from early next year, an official from Hebei’s Ministry of Industry and Information Technology (MIIT) confirmed on November 1.
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Changzhou Eastern Special Steel Co, a major special steel producer in East China’s Jiangsu province, is planning to build a new 1,820 cu m blast furnace and two 100-tonne converters to replace old facilities of a smaller size, two company officials confirmed on October 26.
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Domestic capacity utilization in China’s ferrous smelting and processing industry during this year’s July-September quarter rose 2 percentage points year on year to 78.7%, with the total average during January-September climbing by 2.7 percentage points on year to 78.1%, according to the latest release from China’s National Bureau of Statistics on October 20.
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Luoyuan Minguang Steel Co, a subsidiary of Fujian Sangang Group headquartered in South China’s Fujian province, has begun an expansion project on an 84-heactare block inside its existing works in Luoyuan County in Fujian, an official from Sangang Group confirmed on Thursday. Once the project is completed – expected in the first half of 2020 – it will take Luoyuan Minguang’s total crude steel capacity to about 3 million tonnes/year, Mysteel was told.
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Crude steel output among the 64 countries in the regular survey of the World Steel Association (WSA) increased 4.4% on year to 151.7 million tonnes in September, which was almost unchanged from August, according to the latest data released by the association late on October 24.
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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
