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The approval for Vale to resume its Serra Leste operations in Curionópolis, as part of its Northern System in North Brazil after the long suspension since January 2019, may add 4-5 million tonnes of iron ore output to Vale’s 2021 total production, according to a company release on November 27 (Brazilian time).
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Japan’s H2 grade scrap prices for both domestic sales and exports rose for the fifth week over November 23-27, up another Yen 500-1,000/tonne ($5-10/t), as the slowdown in deliveries from seller on the anticipation of further price rises had prompted buyers to pay more for supplies, scrap traders in Tokyo shared.
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Nippon Steel Engineering, the engineering arm of Japan’s largest steel producer, has received an order from Taiwan’s China Steel Corp to supply a large Coke Dry Quenching (CDQ) plant, NSE announced on November 26.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 50/tonne ($7.6/t) effective November 26, according to company release, which has indicated the remaining firm demand from the Chinese steel mills while the limited supply in winter.
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Japan’s dealer prices of carbon steel hot-rolled and cold-rolled sheets have both gained Yen 1,000/tonne ($10/t) on month due to the tightening in supply from the distributors, and buyers were forced to pay more to secure deliveries, according to sources in Tokyo and Nagoya in central Japan.
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Osaka Steel, Japan’s largest steel section producer, has added Yen 3,000/tonne ($29/t) on its list prices of sections for December domestic sales, mainly to offset higher scrap prices, a company official confirmed on November 26.
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China Baowu Steel Group (Baowu), China’s and also the world’s top steel producer in capacity, has been taking no break in its expansion in capacity and inner strength enhancement at the same time, with the latest move to solidify its footing in Northwest China via acquiring existing steel mill and iron ore mines, Mysteel Global noted.
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Toyota Motor, Japan’s largest automaker, has informed its auto component suppliers that it will keep domestic vehicle production at above 13,000 units/day until February, industry sources in Nagoya and Tokyo said on Wednesday. The projected daily rate will be slightly lower compared with previous months, but the level remains high overall, meaning that steel consumption by the company and its vast network of components suppliers will likely stay firm, they said.
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Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace located in the Kimitsu Area of its East Nippon Works in Chiba prefecture, near Tokyo, to respond to improving steel demand from consumers, especially auto makers.
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Indian iron ore prices increased further this week. National Mineral Development Corporation (NMDC) has announced 2nd price hike iron ore for the month. Odisha's Essel Mining and Rungta Mines made another upward price revision. Bid prices in recently conducted Karnataka iron ore e-auction witnessed an increase over the set base price.
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Canada-based Teck Resources expects to increase its metallurgical coal sales to China for the current October-December quarter due to the country’s rising demand, with higher pricing levels compared to markets outside China, according to the company’s “Coal Market Update” published on November 23.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has raised its long steel ex-work prices for the third pricing term over November 21-30, with rebar up another Yuan 50/tonne ($9.1/t) and wire rod and high-speed coil prices up more substantially by Yuan 200/t from the levels over November 11-20.
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Indian steel major - JSW Steel has sourced 1.19 mn t iron ore in Oct'20 from merchant market. The sourcing dropped by 18% as against 1.45 mn t in Sep'20. Company's captive iron ore production (Odisha and Karnataka) stood at 1.89 mn t & 1.73 mnt respectively in Oct & Sept'20. Thus with increasing captive production, the steel maker has lowered sourcing from merchant market.
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Nippon Steel, Japan’s largest integrated mill, plans to start commercial production on a new continuous hot-dip galvanizing line (CGL) at the Kimitsu area of its East Nippon Works in Chiba prefecture sometime during January-March next year, a company official confirmed on Thursday. The start-up, delayed for over six months, is to lift supplies of ultra-high-tensile steel sheets for Japan’s recovering automotive manufacturing sector.
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Japan’s all kinds of steel exports for October fell 13% on year to about 2.47 million tonnes, or the sixth consecutive month posting an on-year decline, mainly as the Japanese integrated mills had been prioritizing supplies to domestic customers, Mysteel Global understood from the preliminary data released by Japan’s Ministry of Finance on November 18.
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Kyoei Steel, Japan’s largest rebar producer, has decided to lift its rebar prices by Yen 3,000/tonne ($29/t) for December sales, mainly to reflect higher scrap prices and to secure sufficient steel margins for steady operations, the company announced on November 17.
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Indian steel major – Tata Steel (TSL) has recently announced its Q2 FY’21 results. In the Q2 FY 21 investor’s call, TSL reported its standalone domestic sales volumes rose 22% y-o-y to 5.05 mn t—it’s highest-ever quarterly figures. Improved realisation, lower coal prices and relatively fewer exports helped Tata Steel improve its operational profit.
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Over November 9-13, Japan’s H2-grade steel scrap prices rose for the third week for domestic sales, up another Yen 500-1,000/tonne ($5-10/t) on week, and new orders from overseas also grew by Yen 2,000/t on week, in response to the higher monthly bidding prices for December deliveries, scrap traders in Tokyo shared.
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China Steel Corporation (CSC), Taiwan’s top steelmaker saw its carbon steel sales up further on month for the second month by October and at a faster rate of 9.5% on month to 889,930 tonnes, and the ratio in exports also shot up to 41% of the total, according to the company release on November 16.
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Nippon Steel, Japan’s largest integrated mill, expects to sell only about 620,000 tonnes of carbon and special steel seamless pipes during the current fiscal (April 2020-March 2021), down 36.1% on year, as the COVID-19 pandemic has brought oil and gas development projects in many countries to a halt.
