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Shanxi Taigang Stainless Steel Co (Tisco), one of China’s major stainless producers and headquartered in Taiyuan City in North China’s Shanxi province, plans to purchase a controlling 51% share of Linyi Xinhai New Materials Co (Xinhai), located in Linyi City in East China’s Shandong province, according to an official announcement
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China’s four state-owned enterprises including three major steel mills including China Baowu Steel Group Co have set up an asset management joint venture expected to provide professional assistance in the country’s steel industrial consolidation and concentration via the means of acquiring, investing, or managing those heavily-indebted steel mills on the
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Brazilian mining giant Vale has begun to operate seven autonomous haul trucks, each with a capacity for 240 tonnes, to transport iron ore from the mine head to the processing plant at its Brucutu mine in Minas Gerais, helping the firm to reduce costs, according to its official statement released
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By 2020, the eleven major steel enterprises in Anyang city in Central China’sHenan province will be amalgamated into just four conglomerates, an Anyang government official has confirmed. The eleven mills – comprising state-owned Anyang Iron & Steel and ten privately-owned steel and iron producers – together produced 17.5 million tonnes
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Jiangsu Shagang Group, China’s largest privately-owned steel producer and based in East China’s Jiangsu province, has decided to roll over all its long steel prices for sales during September 11-20, the company has declared. The September 11 announcement ends Shagang’s string of price hikes for five consecutive sales periods, Mysteel
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Baoshan Iron & Steel (Baoshan Steel),the listed arm of China Baowu Steel Group and headquartered in Shanghai,has optedto raisehot-rolled coil list prices by a large Yuan 100/tonne ($14.6/t) for Octoberdomestic sales at threeof its four steelworks to reflect recovered demand in the country’s HRCmarket, Mysteel has learned.
According to market sources
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The Tangshan city authorities in North China’s Hebei province have instructed Tangshan Guofeng Iron & Steel Co to proceed with its dismantlement of iron and steelmaking facilities in the second and last steelworks in the Fengnan district, in parallel with the steel mill’s ongoing closure of its other steel plant also in Fengnan, a company official confirmed on Thursday.
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Local authorities in Wuhu City in East China’s Anhui province have introduced emergency restrictions on the operative capacity of blast furnaces in use at local steelmakers, according to a September 5 document released by Wuhu City Environmental Protection Bureau seen by Mysteel.
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More details have emerged about plans by Baowu Steel Group Corporation, China’s top steelmaker by capacity, to install a third blast furnace and converter at its Zhanjiang works in South China’s Guangdong province, Mysteel has learned. These were contained in an August 28 post released by Guangdong Economic and Information Commission announcing that the project is open for public review over August 28-September 27.
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Fushun Special Steel Co, based on Northeast China’s Liaoning province, posted a net loss of Yuan 69.54 million ($10.2 million) for the first half of 2018, down by a huge 217% on year, according to the company’s semi-annual financial report.
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung, Central Taiwan, has decided to hold its domestic rebar list price and its procurement price for locally-sourced scrap for the second week during September 3-7, a company official confirmed Monday.
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Two major steelmakers in Anhui province in East China will be halting some upstream facilities for maintenance next month but the stoppages are not related to market chatter that the Anhui provincial government will order all steelmakers it supervises to cut operative capacities on their blast furnaces by 20-30% from October, Mysteel is told.
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Shagang Group, China’s largest privately-owned steel producer, has increased all long steel prices by Yuan 80/tonne ($11.8/t) for sales during its September 1-10, the company announced on September 1, marking the fifth time in succession that the Jiangsu-based mill has raised its longs prices, Mysteel notes.
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Releasing its list prices for September sales on Monday, Yieh United Steel Corp (Yusco), one of Taiwan’s largest integrated stainless makers and headquartered in Kaohsiung in Southwest Taiwan, will be cutting these by another TWD 500-1,000/tonne ($16.3-32.6/t) from August, a company official confirmed on September 3.
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Shanxi Taigang Stainless Steel Co (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, has no intention to increase its steel output much amid the persisting concern on domestic oversupply, according to TISCO’s interim report released on August 31.
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Jianlong Beiman Special Steel Co in Northeast China’s Heilongjiang province, targets to export 214,000 tonnes of steel, realizing a revenue at $150 million for 2018 after it resumed operations in November 2017 after restructuring, an official from the company confirmed last Friday.
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After a month of frequent increases, Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker and headquartered in East China’s Jiangsu province, has decided the market has peaked and has slashed its steel scrap procurement prices by Yuan 50/tonne ($7.3/t), according to the company’s announcement on August 31.
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Steel mills in Linfen, a major steel production centre in North China's Shanxi province, are going to periodically limit their operative blast-furnace capacity by as much as 50% over the coming two months to help to clear the city’s air, according to a plan drafted by the local government and confirmed by market sources on Wednesday.
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Magang Group Holding Co (Magang), headquartered in Central China’s Anhui province, maintained its crude steel output largely unchanged on year at nearly 10 million tonnes, while its auto sheet production surged 31.5% on year over January-June, according to Ma’anshan Iron and Steel Company’s interim report released on August 30.
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Chinese domestic steel scrap prices have been showing signs of losing ground since the start of this week, mainly as a consequence of the erosion in finished steel prices and weakened sentiment among traders. Market transaction prices of 6-8 common grade steel scrap among the scrap dealers in Zhangjiagang city in East China’s Jiangsu province, the country’s core scrap consumption base, shrank by Yuan 50/tonne ($7.3/t) on week to Yuan 2,410/t as of August 29 and excluding the 16% VAT, according to Mysteel data.
