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Shagang Group (Shagang), a leading electric-arc-furnace (EAF) steelmaker in China, has added Yuan 50/tonne ($7.7/t) onto its domestic steel scrap procurement price starting September 27, which is interpreted by the market sources as an attempt to encourage more deliveries from the buyers.
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Despite the heated discussion in the overseas market about the financial matter of Evergrande Group, China’s second largest property developer, and the concerns about the ripple effect on China’s property market and steel demand, China’s domestic steel market sources appeared rather calm, anticipating whatever adverse impact on this individual case will be contained and managed.
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Kyoei Steel, Japan’s largest rebar producer, has decided to lift its rebar base price by Yen 3,000/tonne ($27/t) on month to Yen 93,000/t for all its four plants across Japan for October domestic sales, mainly to transfer higher input costs, the company announced on September 22.
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In August, China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, post a six-month low in carbon steel sales, reaching 780,776 tonnes, or down on month for the third month by 19,338 tonnes or 2.4% mainly due to the mediocre demand in the summer month, according to the company release on September 22.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer under Nippon Steel, will lift its list prices of 300-series and 400-series wire rods by Yen 10,000-25,000/tonne ($91-229/t) for September-November domestic sales, to reflect higher costs in nickel and other raw materials, a company official confirmed on September 22.
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Over September 13-17, Japan’s domestically-generated H2 scrap prices recovered from five consecutive weeks of drops, regaining Yen 500/tonne ($4.6/t) on week for both domestic sales and exports of the total fall by Yen 1,000-2,000/t recently, market sources in Tokyo shared, as demand showed signs of recovery.
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Over September 21-30, Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, has raised its rebar ex-works price for the second ten-day domestic sales cycle by another Yuan 150/tonne ($23.2/t) on noting the strong demand especially from steel traders recently, according to a Shagang official.
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Shagang Group, a leading electric-arc-furnace (EAF) mill in East China’s Jiangsu province, has trimmed its steel scrap procurement price by Yuan 70/tonne ($10.8/t) effective September 17, as many local steel mills have reduced their output upon the local authority’s order and their scrap consumption, thus, dropped recently, according to market sources.
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China Steel Corp (CSC), the largest steel mill in Taiwan, is raising some of its steel list prices for sales in October and for this year’s last quarter to offset higher raw material costs and to narrow the gap with global prices, according to the company’s pricing policy released on September 15.
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Nippon Steel, Japan’s largest integrated mill, announced on September 14 to add Yen 5,000/tonne ($46/t) onto its H-beam list price for spot domestic sales with immediate effect, which is meant to transfer some of the rising costs as well as to narrow the gap with the global prices.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, announced on September 14 to keep all its carbon steel finished products prices unchanged for October sales, using the one month to review how much of its previous price hikes have been absorbed by the spot market and to monitor the steel market development both at home and abroad.
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Baoshan Iron & Steel Co (Baoshan Steel), the listed-arm of China’s top steelmaker China Baowu Steel Group, will keep its list price of carbon steel hot-rolled coil (HRC) unchanged for October domestic sales, according to the company’s release through its WeChat account on September 10.
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Iron ore shipments to China from Port Hedland, Western Australia’s top iron ore terminal, dropped to 35.9 million tonnes in August, down for the second successive month and by another 2.7 million tonnes or 7% on month to reach a new low since February, according to data released by the Pilbara Ports Authority (PPA) on August 10. The total was also 10.6% lower than the volume despatched in August 2020, Mysteel Global notes.
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Toyota Motor, Japan’s largest auto maker, will deepen the cuts on its September auto output globally to 430,000 units than the planned 360,000 units announced on August 19, mainly due to limited improvement in deliveries of auto components from Southeast Asia amid the latest wave of the COVID-19 in the region, according to a company official on September 10.
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Shagang Group, China’s largest privately-owned steel producer based in Jiangsu of East China, announced on September 11, the start of its latest ten-day sales cycle, to raise its long steel prices by Yuan 200-350/tonne ($31-54/t), just as many other steel mills in the province, on the prospect of lower output while better demand in the coming days, according to market sources.
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Vale, the world’s top iron ore miner, has lowered its target for productive iron ore capacity as at end-2022 to 370 million tonnes/year, compared with its previous target of 400 million t/y, the company revealed during a virtual meeting with market analysts on September 9.
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Kobe Steel, Japan’s third largest integrated steel producer, has decided to add Yen 10,000/tonne ($91/t) onto its flat steel prices for October deliveries to domestic buyers via spot deals, re-rollers and pipe makers, and the price rise, the fifth so far in 2021 is meant to improve its profitability, according to a company official.
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The world’s top steelmaker China Baowu Steel Group signed a Memorandum of Understanding (MoU) with the world’s top crude oil producer Saudi Aramco through its Shanghai-listed arm - Baoshan Iron & Steel Co (Baoshan Steel), planning to build an integrated heavy plate steel mill in Saudi Arabia, Baoshan Steel disclosed on September 9.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has raised its domestic list prices of the 300-series cold-rolled coil (CRC) and plate by Yen 20,000/tonne ($181/t) on month, and the 400-series CRC by Yen 10,000/t on month for September domestic sales to distributors mainly to transfer some of the rising input costs, a company official confirmed on September 9.
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Nippon Steel, Japan’s largest integrated steel producer, has started notifying its domestic consumers including general contractors, distributors and construction steel leasing companies of the probability that it will lift its list price for structural carbon steel used in civil engineering by Yen 15,000/tonne ($136/t) soon, a company official shared on September 8.
