-
Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has lowered its steel scrap procurement price again, clipping another Yuan 50/tonne ($7.4/t) off buying prices for all grades effective from September 25. Shagang has now cut its scrap procurement prices no fewer than four times since September 14 by a total of Yuan 160/t, Mysteel Global notes.
-
Toyota Motor, Japan’s largest automaker, has informed its auto component suppliers that it has adjusted its production plan for October-November at its domestic plants upward by 3-7% from its original plan set a month ago, industry sources in Nagoya and Tokyo shared on Friday. The carmaker said it was responding to expectations of better sales in the coming two months, they said.
-
Tsingshan Group (Tsingshan), the world’s leading stainless steel producer headquartered in East China’s Zhejiang province, is planning to establish a new 4 million tonnes/year stainless steel project in Yangjiang city in South China’s Guangdong province, in partnership with a state-owned investment company Guangdong Guangxin Holdings Group Co (Guangxin), the steelmaker has announced.
-
Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, announced another cut in its steel scrap procurement price Thursday, clipping this by another Yuan 50/tonne ($7.4/t) for deliveries starting the same day. The reduction is Shagang’s second in the space of just one week.
-
Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has decided to lift September-November list prices of 300-series wire rod (October-December roll) to reflect higher nickel prices, the company confirmed on September 24. The increase for 304 grade rods will be Yen 20,000/tonne ($190/t) though NSSC is making no changes to its 400-series prices.
-
Osaka Steel, Japan’s largest section steel producer, has decided to add Yen 3,000/tonne ($28/t) to its October prices of sections for domestic sales, to offset rising input costs, a company official confirmed on September 24.
-
We compared the seaborne iron ore benchmark price against the daily average price of Chinese rebar. Move your cursor over the chart below to see the historical data.
-
JFE Steel, Japan’s second largest integrated steelmaker, has lifted all its construction steel prices other than H-beams by Yen 5,000/tonne ($48/t) for new bookings from the domestic buyers starting this week, a company official confirmed on September 23.
-
Rio Tinto, the world’s second largest iron ore miner with core mining assets in Australia, has signed a Memorandum of Understanding (MoU) with the Dalian Port Company to build its first iron ore bonded blending operations at the port in Northeast China’s Liaoning province, according to the company’s sharing on Wechat on September 22.
-
Japan’s domestic rebar prices have been on the rise as a result of price increments by the steel producers, though the actual demand has remained sluggish, which makes it uncertain whether the spot dealing prices will fully fulfilled the rises initiated by producers in the end, distributors based in Tokyo and Osaka pointed out.
-
Vietnam's imported HRC prices have softened by $5-10/t w-o-w. Offers from Japan, South Korea have come down by $5. Offers from China declined by $5-10/t w-o-w due to decline in domestic prices amid plunge in futures.
-
Sarda Mines will have to stop operation immediately as per orders of the Ministry of Environment and Forest and Climate Change that finds its environment clearance invalid.
-
In August, after two months of gains in carbon steel sales volume, China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw the volume down 10.1% on month or 12.1% lower on year to 776,542 tonnes, according to the company’s latest release on September 21.
-
The Japanese ferrous scrap export prices showed signs of softening in the third week of September, down $5-8/tonne on week after having stayed on the uptrend for two months, as the overseas buyers had been looking for alternative on the too expensive Japanese scrap, while the domestic scrap prices had strengthened further, scrap traders in Tokyo shared.
-
Mergers and acquisitions since 2016 have grown China’s Baowu Steel Group (Baowu) into the world’s top steel producer as well as hitting its ambitious target of a 100 million tonnes/year steelmaking capacity one year ahead of schedule, and M&As will be a main theme in the company’s next five-year development, Chen Derong, the company chairman, sent a clear message.
-
Nippon Steel, Japan’s largest integrated steelmaker, has decided to lift domestic prices of its sheet products for spot sales and for re-rollers by Yen 5,000/tonne ($48/t) from October shipments. Market watchers were relaxed about the increase Friday, saying the rise had been expected.
-
Run-of-mine (ROM) iron ore output in China grew by 4.8% on year in August to reach around 77 million tonnes, according to new data from the country’s National Bureau of Statistics (NBS). The jump in ROM production last month marked a significant improvement over July where growth was flat and occurred because many domestic iron ore miners had resumed operations, a market source said on Friday.
-
Vale, the world’s largest iron ore producer, still expects to gradually achieve its minimum 400 million tonnes/year iron ore capacity in the future from actual operating capacity of 318 million t/y, though no timeline has been given, according to the company’s 20th Analyst & Investor Tour report posted on its website on September 16.
-
A large integrated steel works project in Malaysia being promoted by Hebei Xinwu’an Iron & Steel Group (Xinwu’an Steel), a steel producer based in North China’s Hebei province, has just received approval from Malaysia’s Ministry of International Trade and Industry, according to a recent release from China’s Ministry of Commerce (MoC). Construction on the 10 million tonnes/year works project is about to start, the MoC release said.
-
The 2 million tonnes/year Zhongjiu iron ore mining and processing project under Magang (Group) Holding (Magang), now a subsidiary of China Baowu Steel Group (Baowu), has started the construction, a Magang official confirmed on September 16.
