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Nippon Steel has decided to add Yen 10,000/tonne ($91/t) to all its flat steel prices for September deliveries to spot buyers including re-rollers, Mysteel Global has learned. Japan’s largest integrated mill says it needs to transfer production cost rises to buyers, and in any case, supplies of flat products are tight in and outside of Japan and it wants to narrow the price gap with overseas competitors.
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Fortescue Metals Group (FMG), the world’s fourth largest iron ore miner with all mining assets in Western Australia, has raised its iron ore shipment guidance for the FY22 (July-June 2022) to 180-185 million wet tonnes from the 178-182 million wet tonnes for the FY 21, according to its latest quarterly report released on July 29.
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Stocks of imported carbon steel flats including hot-rolled and cold-rolled coils and plates at Japan’s key ports of Tokyo and Osaka declined on month for the first time in June after five months of inclines, down 2.3% or 3,000 tonnes on month to 128,000 tonnes, according to new data released on July 28 by Japanese trading house, Hanwa Co, which was mainly due to robust demand from domestic end-users.
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China’s largest electric-arc-furnace producer has formally been incorporated on July 27 in Southwest China’s Sichuan by combining eight local independent EAF mills, which has also helped the province to enhance it steel industry concentration, competitiveness and efficiency, the Sichuan Provincial Economic and Information Department shared in a release on the same day.
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Osaka Steel, Japan’s largest steel section producer and a subsidiary of Nippon Steel, will add Yen 3,000/tonne ($27/t) onto its section list prices for August domestic sales, or the third consecutive month for its efforts to transfer rising production costs, a company official confirmed on July 28.
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Toyota Motor, Japan’s largest auto maker, has informed its auto parts suppliers that the company has adjusted its vehicle output plan lower for August and September by 10,000 units/month from its initial plan made a month ago, according to market sources in Tokyo and Nagoya in central Japan. The auto giant citing delays in receiving critical components.
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Pohang Iron and Steel Co Ltd (POSCO), a major steel producer in South Korea, reported its Q2CY’21 results today. Steel production and sales have increased y-o-y with an improvement in operating capacity during Q2CY’21. However, Q2 of both the years have been impacted by waves of Covid-19 and subsequent lockdowns or containment measures.
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Tokyo Steel Manufacturing, Japan’s major electric-arc-furnace steel producer, posted a 12.2% increase in its carbon finished steel sales over the first quarter of Japan’s new fiscal year to 633,000 tonnes, thanks mainly to robust export orders. The mini-mill expects a further increase during the current quarter, Mysteel Global learned.
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BHP, a leading ferrous and nonferrous mining company in the world, has signed a long-term nickel supply deal with the world’s largest electric car manufacturer Tesla for the latter’s battery production, BHP shared on July 22.
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Anshan Iron & Steel Group (Ansteel) in Northeast China’s Liaoning province has been quietly progressing with its merger of Bengang Group (Bengang), another state-owned steel mill in the province, as more shares of Bengang’s Shenzhen-listed arm have been transferred to the group company free of charge to facilitate the merger, a Bengang official confirmed on July 21.
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As part of its efforts to help reduce CO2 emissions, JFE Steel, Japan’s second largest integrated mill, has signed long-term contracts to charter three new Capesize bulk carriers fuelled by liquified natural gas (LNG) to transport its iron ore and coal from overseas suppliers. JFE will be the first Japanese steel producer to deploy large-sized LNG-fuelled vessels, the company announced on July 20.
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Shagang Group, China’s largest privately-owned steel producer headquartered in East China’s Jiangsu province, announced on July 21 to increase its rebar list price by another Yuan 250/tonne ($38.6/t) for sales over July 21-31, in response to the prevalent market expectation on China’s crude steel output cut for the remainder of the year, according to market sources.
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Japan’s major construction steel distributors in Tokyo and Osaka have set their H-beam prices at Yen 100,000/tonne ($913/t) from this week to pass along increases pushed through recently by producers, Mysteel Global has learned. If the dealers achieve their goal, this will be the first time since November 2008 that dealer prices for base-size beams have reached Yen 100,000/t.
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China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, says its total carbon steel sales for the first half of 2021 declined by 128,943 tonnes or 2.6% on year to 4.9 million tonnes, according to a company release on July 19.
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The Japanese integrated mills including Nippon Steel have reportedly won a large price increase for the sheets they supply to domestic electronics makers and makers of prefabricated homes for the first half of fiscal 2021 (April-September), lifting these by Yen 30,000-50,000/tonne ($273-455/t) from the previous October-March half, according to industry sources on July 16.
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Kyoei Steel, Japan’s largest rebar producer, is keeping rebar base prices at all its four plants across Japan unchanged at Yen 90,000/tonne ($819/t) for August domestic sales, the Osaka headquartered mini-mill announced on July 15.
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Rio Tinto's
Production Summary over Apr-Jun*
*Rio Tinto share
unless otherwise stated
Source: Rio Tinto,
released onJuly 16
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China Steel Corp (CSC), the largest steel mill in Taiwan, is rolling over its flat steel list prices for sales in August to stabilize steel prices and secure supplies to its customers, according to its latest pricing policy released on July 15.
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China Baowu Steel Group (Baowu), already the world’s largest steel producer over 100 million tonnes/year of crude steel capacity, has locked in state-owned Shandong Iron & Steel Group (Shangang), a top steel mill located in East China’s Shandong province, as its next acquisition target among the Chinese steel mills, Shandong Iron & Steel Co, Shangang’s Shanghai-listed arm, disclosed in a release on July 15.
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Leading Japanese H-beam producer Nippon Steel on Monday added Yen 5,000/tonne ($45/t) to its H-beam list prices for spot domestic sales with immediate effect, saying the raise is to offset higher input costs and to reflect the tightness of supply. The hike for its beams is the company’s third in as many months and makes for a total increase of Yen 18,000/t since May, Mysteel Global notes.
