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Xining Special Steel Co, the largest specialty steel producer in West China, produced 168,000 tonnes of steel products in April, an historical high, according to company chairman Yi Liangqiu. He’s aiming for total steel production of 1.8 million tonnes this year, up 23.3% from last year.
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Brazilian iron ore miner Vale has warned of possible safety issues relating to its Gongo Soco iron ore mine in Barão de Cocais, Minas Geraus, Southeast Brazil, according to a statement it issued on May 16 local time.
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Two subsidiaries of Shangang Iron & Steel Group, the largest steelmaker in East China’s Shandong province, are uniting in a new company to spearhead the building of a greenfield steel works in the coastal city of Linyi, according to an official announcement by released by Shandong’s Department of Industry and Information Technology on May 14.
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The world’s top iron ore miner Vale is planning to double the iron ore output from its Carajas Serra Sul iron ore mine in its Northern System, North Brazil, to 150 million tonnes beyond 2020 mainly via dry processing method at the operations that will reduce the use of tailings dams, according to a presentation Vale shared at an industrial event on May 14.
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At the Singapore Exchange (SGX) Commodities Awards Night held on Wednesday 8th May 2019, Mysteel claimed the prestigious “Best Iron Ore Research House” for a second consecutive year.
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Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, has cut its steel scrap procurement price by Yuan 40/tonne ($5.8/t) for delivery starting May 15 in its latest pricing policy, which is in tune with sufficient supply while the growing uncertainty in domestic steel prices.
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China Railway Corporation (CR) has begun calling for bids in two public tenders for 35,000 open-topped wagons for transportation of goods including coal, according to a notice by its subsidiary China Railway Investment on May 10. The rail giant’s tenders are viewed as another big outlay soon after CR purchased thousands of wagons last year in accordance with the central government’s “road-to-railway” policy, market sources commented.
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Angang Steel Co (Angang), the listed arm of Anshan Iron & Steel Group, a key flat steelmaker headquartered in Northeast China’s Liaoning province, announced to roll over its flat steel list prices including HRC for June delivery, a pause after price rises for the previous four months with a total increase of Yuan 300/tonne ($43.6/t).
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Vale will invest $2.5 billion in installing and expanding dry processing in its iron ore operations to 70% by 2023 from the present 60%, according to its announcement on May 13.
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The Indian steel conglomerate Tata Steel will stick to its original plan of operating all its 32 million tonnes/year crude steel capacity at its home country by 2025 despite that its proposed joint venture with Thyssenkrupp as part of its divestment efforts was rejected by the European Commission on May 10.
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Jiangsu Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, announced in its latest pricing policy to remain its long steel list prices unchanged for spot orders over May 11-20 amid a possible softening in demand and not to widen the gap with the market level.
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Global iron ore market sources were little surprised at the admission from Vale, the world’s top iron ore miner, that its iron ore fines cash cost for the January-March quarter up $1.2/tonne on quarter amid the halts of mining operations and lower sales volume during the period.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, opted to roll over its list prices for carbon steel hot-rolled coil for June sales from its three HRC works, according to the company’s latest pricing policy released via its official Wechat account on May 10. The East China steel giant’s announcement means the company will have rolled over its HRC prices for two successive months.
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The Fortescue Metals Group will provide a wider scope of iron ore products with a ferrous content ranging 57-67% to better meet market needs, Greg Lilleyman, the company’s chief operating officer, told delegates attending the Singapore Iron Ore Week 2019 forum on May 9.
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Vale, the world’s largest iron ore producer, has announced that its iron ore production and sales slumped in this year’s first quarter ending in March as a consequence of the tailings dam collapse at Brumadinho in late January, as well as disruptions caused by adverse weather.
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The related local authority in Lvliang city, North China’s Shanxi province, has urged 11 local enterprises including three coking plants to complete the rectification to bring down their waste emission especially liquid within the limit, or they may face their operations suspended, according to a notice available to the public on May 7.
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Shanghai-listed Fangda Carbon New Material Company (Fangda Carbon) saw its net profit plummet by a substantial 62% on year to Yuan 713 million ($105.2 million) in the first three months of this year, mainly due to the tumble in market prices of graphite electrodes, according to its Q1 report.
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Both the Chinese authorities and the domestic steel mills have been quietly intensifying their endeavours in growing the country’s recycling business to be prepared for the greener growth in the next five to ten years.
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Note: Exchange rate in May 1US$=RMB 6.7614; Exchange rate in April 1US$=RMB 6.7193; price excluding 13% VAT
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Vale, the world’s largest iron ore miner announced on May 6 local time to have halted the wet processing operations at its 30 million tonnes/year Brucutu mine in Minas Gerais State, Southeast Brazil on the ruling of the Minas Gerais Court of Justice (TJMG) against the resumption of the mine’s operations.
