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Mysteel's national average HRB400 20mm dia rebar price rebounded on June 21 after two consecutive days of decreases, up Yuan 9/tonne ($1.4/t) on day to Yuan 4,218/t including the 16% VAT, amid traders' reluctance to cut their offering prices and Shagang's raising its rebar list price for sales in the last ten days of June.
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Shagang Group, China's largest privately-owned steelmaker headquartered in Zhangjiagang city, East China's Jiangsu province, has raised its rebar list price for the third time, up another Yuan 100/tonne ($15.5/t) for sales during June 21-30, according to the company's latest pricing policy released on June 21.
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Beijing-headquartered Shougang Group is progressing with the relocation of its 2.6 million tonnes/year medium plate capacity from its Qinhuangdao plant in Hebei, North China, to its Tangshan works in Hebei, all to be completed by July, according to an official from the Qinhuangdao plant on Wednesday.
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Feng Hsin Steel, Taiwan's largest rebar producer and headquartered in Taichung city, Central Taiwan, has decided to lift its rebar list prices for the week of June 19-22 but will keep its scrap procurement prices steady for this week, a company official confirmed on June 19.
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Many car manufacturers in the world have been expanding or extending their business scopes in a changing market and the latest move is from Toyota Motor Corporation (Toyota), which has committed itself to investing $1 billion into Grab, a Singapore-based ride sharing company that serving the Southeast Asian market.
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Anshan Iron and Steel Group (Angang), China's fourth largest steelmaker and a key flat steel producer headquartered in Anshan city, Northeast China's Liaoning province, has followed Shanghai-based Baoshan Steel and decided to lift its list prices of hot rolled coils by Yuan 100/tonne ($15.6/t) for sales in July, according to the company's new pricing policy released on Thursday. Both a company sales official and a trader based in Beijing confirmed the increase on June 15.
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Anshan Iron and Steel Group (Angang), a key flat steel producer headquartered in Anshan city in Northeast China's Liaoning province, is undertaking routine maintenance on one 5,500mm medium plate mill and a reline of a 4,038 cu m blast furnace, a company official confirmed on June 14. Both are located at Angang's works in Bauyuquan in Yingkou city.
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Afrochine Smelting Co, the ferroalloys subsidiary of China's Tsingshan Group in Zimbabwe in southern Africa, is proposing to build a steel mill with 2 million tonnes/year capacity in the capital Harare, market sources shared on June 13. Business representatives from East China's Zhejiang province signed a memorandum of understanding (MoU) with Zimbabwe government representatives in Harare on June 11.
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Tesla, the Palo Alto California-headquartered maker of electric vehicles, plans to build its next Gigafactory - a combination of car- and battery-making plant - in Shanghai, East China, which Chinese metal market sources suggest may increase demand for materials used in electric vehicles including aluminum, auto grade steel sheet, cobalt, nickel and lithium.
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Chinese-invested enterprises are operating as per normal in Vietnam, unaffected with the latest outburst of anti-Chinese protests in Vietnamese cities such as Ho Chi Minh or Hanoi, market sources shared on June 12.
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Mysteel's national average HRB400 20mm dia rebar benchmark price reversed up on June 12 by Yuan 14/tonne ($2.2/t) on day to Yuan 4,180/t including the 16% VAT, as market sentiment improved on a series of restriction measures including the month-long environmental protection inspections in most of key steel production bases since end of May or early June.
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Baoshan Iron & Steel (Baoshan Steel), China's largest flat steelmaker headquartered in Shanghai, is adding Yuan 1,000/tonne ($156/t) to the list prices of its stainless plate for July sales from its Baoshan and Dongshan bases, largely to offset its higher input costs, according to the steel company's latest pricing policy tabled Monday.
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Baoshan Iron & Steel (Baoshan Steel), the listed arm of China Baowu Steel Group headquartered in Shanghai, has decided to raise its list prices for hot-rolled steel coils by Yuan 100/tonne ($15.6/t) for its sales in July, according to the company's latest pricing policy released on June 11.
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Feng Hsin Steel, Taiwan's largest rebar producer and headquartered in Taichung city, Central Taiwan, has decided to reduce its rebar list prices for this week but will roll over its scrap procurement prices, a company official confirmed on June 11.
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Shagang Group, China's largest privately-owned steelmaker and headquartered in Zhangjiagang city, East China's Jiangsu province, has decided to bolster its list prices for rebar by another Yuan 30/tonne ($4.7/t) for sales during June 11-20, according to the company's latest pricing policy released on June 11.
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Mysteel's national average benchmark price of HRB 400 20mm dia rebar paused for a breath after continuing climb-ups, staying at Yuan 4,176/tonne ($652/t) including the 16% VAT as of June 8, as the pressure was building up on high-priced supplies.
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Steelmakers in Taiwan say they have taken steps to guarantee that steel output is not impacted by the start of this year's power supply rationalization scheme for summer which kicked in from June 1 and remain in force until September 30.
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Chinese domestic prices of hot rolled coil which have hovered at a high level since the start of May this year will likely maintain their buoyancy this month, mainly supported by strong downstream demand and improved market sentiment.
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Nanjing Iron & Steel Co, a major Chinese steelmaker based in Nanjing city in East China's Jiangsu province, has decided to buy a one-third stake in a privately-owned steelmaker in Anyang city in Central China's Henan province specialized in producing cold rolled small-diameter rebar, Nanjing Steel announced on Tuesday.
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China's central government has dispatched an inspection team to East China's Jiangsu province to review pollution control efforts among the local industrial enterprises over June 5-July 5, according to an announcement of China's Ministry of Ecology and Environment (MEE) on June 5.
