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Shagang Group, China’s largest privately-owned steelmaker based at East China’s Jiangsu province, will maintain all list prices of its long steel products for sales over September 21-30, according to the company’s pricing policy released on Saturday.
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China Baowu Steel Group Co (Baowu), China’s largest steel producer, is actioning a plan to advance electric arc furnace (EAF) steelmaking, with many EAF steel projects currently under study at its subsidiaries nationwide, a Baowu official confirmed.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, said its August carbon steel sales remained almost stable on month as a consequence of the island’s still lacklustre steel demand, with the steelmaker’s total sales lower by 1% or by 9,373 tonnes on month at 883,690 tonnes, according to the company’s latest release published on September 18.
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Shagang Group (Shagang), China’s largest electric arc furnace (EAF) steelmaker headquartered in Zhangjiagang city, East China’s Jiangsu province, has cut its steel scrap procurement prices by Yuan 40/tonne ($5.7/t) for deliveries effective from September 20, the company announced the same day.
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Metallurgical Corporation of China (MCC), China’s top construction and engineering company, has been benefiting from the country’s “Belt and Road Initiative (BRI)” strategy and winning contracts to build not only steel mills but also civil engineering projects in such countries, Zhang Ye, vice president of MCC shared at the Asia Steel Forum 2019 in Shanghai of China on September 19.
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Most Chinese electric arc furnace (EAF) steel producers won’t be turning off their equipment for the country’s week-long National holiday over October 1-7 but will continue to maintain normal production, several mill officials told Mysteel Global on Thursday.
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More details have emerged about the major expansion being planned by Baosteel Desheng Stainless Steel Co (Desheng) that could see the company’s capacity triple to nearly 6 million tonnes/year. But crucially, the project’s timeline remains vague, Mysteel Global has learned.
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The Dalian Commodity Exchange (DCE) in Northeast China’s Liaoning province has officially launched iron ore physical delivery by brand, with trading in the inaugural futures contract – that for September 2020 – commencing with the evening trading session on September 16. The new system complements the existing standardized terms based on specifications regarding ferrous content and impurities and has been adopted “to better serve industry investors and promote market functioning,” according to an official notice released on the exchange’s website. The changeover will be completed in 2020, it said.
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Brazilian miner Vale announced on September 13 Brazilian time that it had suspended work in one mining front at its 30 million tonnes/year Brucutu mine in its Southeastern System in Southeast Brazil’s Minas Gerais state, following Brazil's National Mining Agency’s (ANM) decision. However, the company said the suspension will not impact iron ore production at the mine.
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On noting recent substantial improvement in China’s domestic steel demand especially for long steel, Shagang Group, China’s largest privately-owned steel company in East China’s Jiangsu province, announced on Wednesday to raise all its long steel prices by Yuan 100/tonne ($14.1/t) from the previous ten days for September 11-20 sales, a Shagang official confirmed on September 11.
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Donghai Steel Group in Tangshan city in North China’s Hebei province, is planning to build a new 4 million tonne/year electric arc furnace-based steel mill in South China’s Guangdong province, a company official confirmed on Tuesday.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, is lowering its list prices for carbon steel hot-rolled coils for October sales by Yuan 100/tonne ($14/t), according to the company’s latest release via its official Wechat site, posted late on September 9 evening.
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Handan Iron & Steel Group Co (Hangang), a subsidiary of China’s second largest steel producer Hebei Iron & Steel Group (HBIS) and located in Handan city, North China’s Hebei province, is shutting the older of its two steelworks in the city centre and using the scrapped capacity to build a new works in a county nearby, a company official confirmed on Tuesday.
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Shagang Group (Shagang), China’s largest electric arc furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, lifted its steel scrap procurement price by another Yuan 80/tonne ($11.3/t) for deliveries from September 10. The steelmaker made its intention known to dealers and agents late on Monday, Mysteel Global understands.
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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Hebei Jinxi Iron & Steel Group (Jinxi), China’s leading section steel producer headquartered in Beijing, is planning to relocate its steelworks in Tangshan, in North China’s Hebei province, to Fangchenggang city in South China’s Guangxi Zhuang Autonomous Region, according to a recent announcement from Jinxi’s controlling shareholder, China Oriental Group Co (Oriental) on September 3.
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Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, has raised its steel scrap procurement price by Yuan 60/tonne ($8.4/t) for all the deliveries since September 5, according to the company’s latest pricing release on Thursday.
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Yieh United Steel Corp (Yusco), a top stainless producer headquartered in Kaohsiung in South Taiwan, is hiking its list prices for 300-series hot-rolled and cold-rolled stainless coils by TWD 3,000/tonne ($95.5/t) for sales in September, a company official confirmed Wednesday. However, the mill is keeping prices for 400-series HR and CR stainless coils unchanged again this month.
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A greenfield steel project in East Malaysia backed by Chinese interests is progressing, albeit very slowly, suggests a recent post by the project’s prime contractor, Metallurgical Corporation of China. MCC was announcing that it had just visited the planned site for the works in Sarawak, and had exchanged views with local officials, Mysteel Global notes.
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The most-traded nickel November contract on the Shanghai Future Exchange (SHFE) closed at its 4.5-year high on September 2 with the prevalent market concern on supply shortage with Indonesia’s probably moving forward the complete ban on nickel ore exports from the originally-planned 2022 to 2020, market sources said.
