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JFE Steel, Japan’s second largest integrated steelmaker, has decided to lift its entire catalogue of products by over Yen 13,000/t ($121/t) for April sales to all domestic and overseas customers, spot and long-term contract buyers, the Tokyo-based steelmaker has announced. The across-the-board increase is to offset higher iron ore and coal prices, a company official confirmed on March 4.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has raised its March list prices of 300-series cold-rolled coils (CRCs) and plates for domestic sales to the distributors by Yen 15,000/tonne ($140/t), and the increment for the 400-series CRC prices will be Yen 10,000/t, all because of higher input costs, a company official confirmed on March 4.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 100/tonne ($15.5/t) effective March 2, hoping to secure more deliveries to satisfy its firm demand, according to the market sources.
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Japan’s domestically-generated H2 grade scrap prices rose another Yen 1,000-2,000/tonne ($9-19/t) on week for both domestic sales and exports over February 22-26, and scrap suppliers are still hopeful for further price rises, scrap traders in Tokyo shared on March 2.
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Japan’s eight major automakers posted a 4.5% on-year drop in January output at both the domestic and overseas plants to about 2.11 million units, according to the data released by automakers until February 26, and the decline was not about auto demand but the worldwide shortage of semi-conductors, according to market sources.
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Shagang Group (Shagang), China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, is raising list prices of rebar by Yuan 150/tonne ($23.2/t) for sales over March 1-10, the company announced March 1, after keeping its prices unchanged since January 11.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 100/tonne ($15.5/t) effective from February 26, according tyo a brief announcement from the mill late Thursday.
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Osaka Steel, Japan’s largest steel sections producer, decided to keep its list prices of sections unchanged for domestic sales in March, trying to stabilize the prices in steelmaking raw materials and other input costs, though the company is ready to raise its prices in the coming months should the input costs incline further, a company official said on February 26.
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Kyoei Steel, Japan’s largest rebar producer, has decided to keep its rebar prices unchanged at Yen 82,000/tonne ($773/t) for domestic sales in March, and this applies to all its four plants across Japan, according to the company notice on February 25, just to give the market one more month to digest the previous price increases, a company official explained.
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Japan’s domestic plate prices rose Yen 2,000/tonne ($19/) on week by February 25, mainly on the list price hikes by the domestic steel producers, which have intensified the worry among the distributors, as higher prices may dampen the sales in an already stagnant market, market sources in Tokyo shared on Thursday.
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China Baowu Steel Group (Baowu), the world’s and the country’s top steel producer, has been the first in China’s steel industry to pledge realizing carbon neutral by 2050, or ten years ahead of China’s targeted timeline as a country, Chen Derong, Baowu’s chairman, disclosed in an interview with China’s media.
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Toyota Motor, Japan’s largest automaker, has informed its auto components suppliers that it will keep domestic automobile production at around 12,500-13,000 units/day during March-May, and its auto steel consumption, thus, will not be affected much by the short-time stoppage at half of its 28 assembly lines in Japan after the earthquake in mid-February, industry sources in Tokyo and Nagoya of central Japan shared on February 24.
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Australia’s Fortescue Metals Group (FMG), the world’s fourth largest iron ore miner, has decided to delay starting production at its 22 million tonnes/year Iron Bridge Magnetite Project in Western Australia’s Pilbara region until the second half of Calendar 2022, according to a company statement released on February 18.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker and located in East China’s Jiangsu province, has shown no inclination it aims to adjust its steel scrap procurement prices anytime soon, though many other domestic EAF and blast furnace (BF) steelmakers have already raised their buying prices after Chinese New Year (CNY) holiday ended on February 18.
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Shagang Group, China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, will continue to roll over its list prices of long steel products for sales over February 21-28, it announced on February 21. Industry watchers were surprised given that the domestic steel market is in a strong mood for price increases.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc furnace producer, will keep prices of all its finished carbon steel items unchanged for March sales, to give the market more time to fully digest its previous increases, the company announced on February 22.
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Japan’s domestically-generated H2 grade scrap prices stayed on the uptrend over February 15-19, up another Yen 2,000-3,000/tonne ($19-28/t) on week for domestic sales, and exports prices have caught up with the pace too, up Yen 5,500-6,500/t from end of January, as scrap sellers have been slowing down their deliveries awaiting further price rises, scrap traders in Tokyo shared on February 22.
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Beijing Jianlong Heavy Industry Group (Jianlong), a privately-owned steel conglomerate headquartered in Beijing experienced in acquisition and restructuring, is tipped to acquire Xingtai Iron & Steel (Xingtai Steel), a leading specialty longs maker based in Xingtai city in North China’s Hebei province, Mysteel Global has learned.
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Japan’s largest integrated mill – Nippon Steel – denied a news report by Nihon Keizai Shimbun (Nikkei), Japan’s business daily, that it has decided to suspend a blast furnace at its Kashima Area of East Nippon Works near Tokyo for a few years, though the domestic steel market sources see the likelihood.
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Canada-based Teck Resources sold 6.1 million tonnes of coal for steelmaking over October-December 2020, down 6.3 million tonnes on year but swelling by 18% on quarter, thanks to the higher demand particularly from China, according to the company’s quarterly report released on February 18.
