-
Shenzhen-listed Angang Steel Co, one of China’s top 10 steelmakers, is warning shareholders to expect a huge 75% fall in net profits for this year’s January-September period to Yuan 1.7 billion ($239 million), according to the company’s preliminary financial report released on October 14. Angang blamed thinner margins and higher costs for the dramatic fall, noting that profits for the July-September quarter alone plummeted by nearly 88% on year to Yuan 297 million.
-
Hoa Phat Group, the largest steel manufacturer in Vietnam, has hot commissioned the second of four converters that will form the core of the company’s new 4 million tonnes/year steel works under construction at Dung Quat in Quang Ngai province in South-central Vietnam.
-
China Baowu Steel Group Co (Baowu), the country’s top steel producer or the world’s second largest mill, has always worshipped its clear-headedness and caution in its overseas development strategy all along, and this remains the rule when it studies overseas steel investment opportunities now, as “risks in overseas investment are pretty high”, a senior official from the conglomerate explained.
-
Indian steel giant TATA Steel in its BSE filings released its provisional figures for Q2 FY20 quarterly figures yesterday which are as follows:
-
Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, is raising its list prices for carbon steel hot-rolled coils for domestic sales during November by up to Yuan 100/tonne ($14/t) depending on grade, according to a release the company posted on its official Wechat site on Thursday evening.
-
Shagang Group, a key long steel supplier in East China announced on Friday to raise its list prices for long steel sales over October 11-20 by Yuan 30-60/tonne ($4.2-8.4/t) from the levels over October 1-10, despite that spot sales prices of such products have shown signs of weakening.
-
Amid the ongoing trade war between U.S. and China that has led to increase in trade protectionism measures by various other countries and reduced steel exports by the key steel producing nations, Vietnam’s a leading steel maker Hoa Phat Group shipped 191,600 tonnes of steel products aboard in the first nine months (Jan-Sep) of 2019, rising 32% y-o-y and accounting for nearly 10% of its total sales.
-
Note: Exchange rate in October 1US$=RMB 7.073; Exchange rate in September 1US$=RMB 7.0883; price excluding 13% VAT
-
Brazil’s National Mining Agency (ANM) announced at around 3pm (local time) on October 9 to ban 54 dams that did not submit or certify the Stability Condition Declarations (DCE) by September 30, but most of them are “inactive dams”, according to its release in Portuguese.
-
Yangchun New Steel, now a subsidiary of Shenzhen-listed Hunan Valin Steel Co and based at Yangchun city in South China’s Guangdong province, plans to produce 3.6 million tonnes of crude steel next year, which would be a 9% improvement on this year if the company achieves its target announced earlier of 3.3 million tonnes for 2019.
-
Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, is striving to achieve “green” and “smart” manufacturing to speed the qualitative development of China’s steel industry, Baoshan Steel President Hou Anhui disclosed at the 19th China International Steel & Raw Materials Conference on September 26.
-
Chinese steel works have an image problem. Rarely does a month go by without news of a local government somewhere – though usually in North China – launching measures targeting reducing pollutant emissions or reinforcing environmental protection facilities among steel enterprises.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
