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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.
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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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Guangxi Dingfeng Stainless Steel Co, headquartered in Wuzhou city in Southwest China's Guangxi Zhuang Autonomous Region, plans to commission its 300,000 tonnes/year stainless steel cold-rolled strip mill in June, a company official confirmed on May 10.
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Gansu Jiu Steel Group Hongxing Iron & Steel Company, a Shanghai-listed arm of Jiuquan Iron & Steel (JISCO) located in Jiayuguan city in Northwest China's Gansu province, plans to produce 6.5 million tonnes of crude steel in 2018, up 25% on year, according to the company's 2017 annual report released on April 27.
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Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, reaped the rewards of a recovering domestic steel market during its financial year 2017 to March 31, posting a 49% year-on-year jump on its net profit to Yen 195.1 billion ($1.8 billion), according to its annual report released on April 26.
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Stainless steel prices in China are currently under stress, mainly due to the mounting pressure of the mismatch between supply and demand, Mysteel notes.
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Shanxi Taigang Stainless Steel Co (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, aims to produce 7.8 million tonnes of pig iron and 10.5 million tonnes of crude steel this year, the latter unchanged from last year, according to the company's 2017 annual report released on April 20.
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The reborn specialty steelmaker located in Northeast China's Heilongjiang province, Jianlong Beiman Special Steel, is celebrating the posting of its first profit - an impressive Yuan 3.26 million ($520,110) - from its March business. The result brought an end to the monthly losses the carbon and specialty maker has been struggling with since it resumed operations last November.
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Shanghai-listed Xining Special Steel, based in Xining city in Northwest China's Qinghai province, aims to produce 1.65 million tonnes of crude steel and 1.5 million tonnes of finished steel this year, according to the company's 2017 annual report released on April 10.
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China will impose 25% tariffs on $50 billion worth of imported goods from the US such as aircraft, China's Ministry of Commerce (MoC) announced late on April 4. The move was Beijing's response to the announcement of the United States Trade Representative (USTR) the previous day that Washington intends to apply tariffs of 25% to some 1,300 Chinese industrial products.
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Lianyungang Huale Alloy Company, located in Lianyungang city in East China's Jiangsu province, expects to commission the first of two 6-stand cold rolling mills for stainless by June and complete the second during the first half year of 2019, a company official confirmed on Monday.
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Hebei Iron & Steel Group (HBIS), a top steel producer in North China's Hebei province, will install new steel capacity in Tangshan city, Hebei, by shutting down facilities including all those at its Xuanhua Iron & Steel Co as planned, Mysteel understands from a Hebei provincial government notice on March 27.
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New guidelines issued by Shanxi Provincial Commission of Economy and Information Technology aimed at "transforming" Shanxi's steel industry and allow the replacement of old facilities with new will benefit Taiyuan Iron and Steel Group (TISCO), the province's largest stainless steel producer, a company official confirmed on March 28.
