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Rio Tinto, the world’s second largest iron ore miner, posted an 8% year-on-year decline in both its iron ore output and sales from its Western Australia’s Pilbara operations over January-June, mainly due to the Tropical Cyclone Veronica over late March-early April, according to the company’s latest quarterly production report released on July 16.
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Production summary
Source: Rio Tinto,
released on April 16
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Shanxi Coke Group’s proposed 5 million tonnes/year of coking project earmarked for Jiexiu in North China’s Shanxi province, does not mean the state-owned coke firm intends to add new coking capacity to Shanxi, Mysteel has learned. Rather, the merchant coke producer intends to acquire capacity ‘quotas’ of some obsolete coke ovens either already scrapped or destined for elimination from within the company or will purchase capacity from other coke makers.
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Shandong Jinling Mining Co (Jinling), a stated-owned iron ore mining company based in Zibo in East China’s Shandong province, predicts that its net profit over this year’s January-June period will increase by at least 81.1% and possibly by as much as 132.5% on year, thanks to the surge in iron ore prices.
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China’s domestic market for steel scrap is likely to further strengthen in the near term, mainly because of the recent heavy rains over July 7-10 that have seriously impacted steel scrap deliveries to the works of steel mills, particularly in those regions south of the Yangtze River, market watchers pointed out Thursday.
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Jiangsu Shagang Group (Shagang), China’s largest private steelmaker and based in East China’s Jiangsu province, is rolling over its ex-works prices for long steel products for sales over July 11-20, according to the company’s latest pricing policy released on July 11.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, announced on July 10 to increase its list prices for carbon steel hot-rolled coils that for August sales by Yuan 100/tonne ($14.6/t), which is probably to cover part of the rising production costs, according to the market sources.
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Three days of torrential rains that have fallen on East China’s Jiangxi province since July 6 have resulted in flood waters swirling through one of two steelworks belonging to Pingxiang Anyuan Iron & Steel Co (Anyuan) in Pingxiang city, Jiangxi, forcing production to be halted, company officials told Mysteel Global on July 9.
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The government of East China’s Jiangxi province has rejected plans drawn up by Hebei Shengbao Iron & Steel Group in Langfang city, North China’s Hebei province, to relocate to the province, a Jiangxi official confirmed on Tuesday.
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Nine Chinese scrap and waste processing companies, mainly located in East China’s Zhejiang province, have secured quotas allowing them to import 15,000 tonnes of ferrous scrap this year, market watchers confirmed Friday. Beginning July 1, China is restricting the import of eight types of scrap metal, including scrap steel and high-grade copper and aluminium scrap, as Mysteel Global has reported.
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Shanxi Coking Coal (SCC), China’s top coking coal producer, will probably keep its third-quarter coking coal price unchanged for its long-term customers, though the near-term market outlook seems rather positive, Guo Lijuan, deputy economist of the sales department of SCC said at the 4th China Steel Derivatives International Conference (2019) on July 5 in Shanghai.
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The Dalian Commodity Exchange (DCE) targets to launch iron ore physical delivery by brand by the end of this year to complement the existing standardized terms so as to better serve the industrial investors, Mao Dan, manager of the Industrial Products Dept, DCE, shared on the 4th China Steel Derivatives International Conference (2019) on July 5 in Shanghai.
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Daye Special Steel Co (Daye), the Shenzhen-listed arm of CITIC Pacific Special Steel Holdings, China’s top specialty steel producer, is acquiring a bankrupt maker of large-diameter seamless pipes in East China’s Zhejiang province, according to a Daye announcement on July 2.
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Speculation is rife in China’s steel community that Baowu Steel Group Co (Baowu), the country’s largest steel producer by capacity and the world’s second largest maker, will soon acquire Chongqing Iron & Steel Group (Chonggang) in Southwest China’s Chongqing municipality.
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Hebei Iron & Steel Group (HBIS), the country’s second largest steelmaker after China Baowu Group and headquartered at Shijiazhuang, North China’s Hebei province, is raising its list prices for sales during July 1-10 by Yuan 40-200/tonne ($5.8-29/t), according to the company’s latest pricing policy announced Tuesday. The increases compare with the prior ten-days sales period and apply to all long steel products – chiefly rebar, wire rod and bar-in-coil.
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Note: Exchange rate in July 1US$=RMB 6.864; Exchange rate in June 1US$=RMB 6.8945; price excluding 13% VAT
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Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, raised its steel scrap procurement price over the weekend by Yuan 70-100/tonne ($10-15/t) effective from June 29 deliveries, the steel company said in an announcement the same day.
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China’s Shagang Group, the country’s largest privately-owned steelmaker headquartered in Zhangjiagang, East China’s Jiangsu province, has raised its offering prices for all long steel items - comprising rebar, wire rod and bar-in-coil by Yuan150-200/tonne ($22-29/t) for July 1-10 sales, according to the company’s latest pricing policy released on Monday.
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Stainless steel producers in Taiwan have raised their stainless list prices for both domestic and export sales for July, given signs that the nickel price is recovering and demand among stainless users is improving, Mysteel Global learned from the market on Friday.
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As Tangshan's local government step up its efforts against air pollution, an announcement was made on June 23, 2019. There will be stricter production curbs in place on some steelmakers' processes, from sintering to steel refining.
