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Global steel giant ArcelorMittal has received approval from the European Commission (EC) to sell several of its steelmaking assets to Liberty House Group, it announced on April 17 (CET).
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Shandong Iron & Steel Co (Shangang) has begun hot run trials on the second 5,100 cu m blast furnace at its new integrated steelworks at Rizhao in East China's Shandong province, a company official confirmed on April 17.
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Angang Steel Co (Angang), based in North China’s Liaoning province, has opted to raise the list prices of its hot rolled coil again, lifting these for May sales by Yuan 100/tonne ($15/t), Mysteel Global learned Tuesday. Prior to the latest adjustment, over the past three months the company had increased its hot coil prices by a total Yuan 200/t.
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The first quarter of 2019 saw Chinese steel mills’ margins squeezed amid rising iron ore prices while dismal domestic steel market and a few listed companies already warned the shareholders of a 60%-80% year-on-year slump in their net profits.
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Jiangsu Shagang Group (Shagang), China’s largest electric arc furnace steelmaker headquartered in Zhangjiagang city, East China’s Jiangsu province, has raised steel scrap procurement price by Yuan 80/tonne ($12/t) for all the deliveries since April 12 and onwards, according to its latest announcement on Thursday.
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Jiangsu Shagang Group, China’s largest privately-owned steelmakers in East China’s Jiangsu province, will raise its rebar list price by Yuan 150/tonne ($22/t) over April 11-20, indicating the mills’ confidence in near-term market outlook.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, opted to roll over its list price for carbon steel hot-rolled coil for May supplies from each of its three HRC works, according to the company’s latest pricing policy released via its official Wechat account on April 10.
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A new factory for producing small-diameter bar-in-coil is being built in Central China’s Hunan province, with the first phase of the eventual 3-stage project to commission by the end of September, an official from Anyang Heli Techtronic Co, the project’s major investor, said Tuesday.
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Production of steel and molten iron at Shenzhen-listed Hunan Valin Steel Co, the listed-arm of Hunan Valin Group based in Central China’s Hunan province, reached historical highs last month, the company announced on April 10.
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On Tuesday, China’s steel scrap market had trended up for two straight days following the Tomb Sweeping Day national holiday weekend (April 5-7), with Mysteel’s national steel scrap price index edging up by another Yuan 3.2/tonne ($0.48/t) or 0.12% on day to Yuan 2,481.8/t on delivery and including the 13% VAT as of April 9.
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A total of 306 steel plants across China have passed the qualification reviews by China’s Ministry of Industry and Information Technology (MIIT), the country’s governing body of the industrial sectors including steel, with the latest and the fourth batch of 12 announced on April 3, Mysteel Global calculated basing on the releases.
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China Baowu Steel Group Co, China’s largest steel producer by capacity and headquartered in East China’s Shanghai municipality, has begun constructing a third blast furnace at its new steelworks in Zhanjiang city in South China’s Guangdong province, according to a release of Baowu’s official website on April 2.
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Steel plants are supposed to be dirty, dusty and devoid of color, right? Perhaps with a few scruffy shrubs in the factory’s mandatory ‘Green Belt’? What amazed the group of 37 foreign and Chinese visitors when they strolled into the worksite of Nanjing Iron & Steel Co (NISCO) on March 29 in East China’s Nanjing, therefore, was nothing about steel at all, but all the beautiful blossoms and the peach trees bordering roads within the works and in gardens around facilities sheds.
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Note: Exchange rate in April 1US$=RMB 6.7193; Exchange rate in March 1US$=RMB 6.7; price excluding 16% VAT
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Jiangsu Shagang Group, China’s largest private steelmaker in East China’s Jiangsu province, has decided to roll over its long steel prices for early April sales, the mill announced Monday, contrary to the expectations of some market watchers who’d assumed Shagang would shave its prices slightly in response to the reduction in VAT rates which took effect the same day.
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Shanghai-listed Chongqing Iron & Steel Co (Chonggang), based at Chongqing city in Southwest China, expects to produce 5.86 million tonnes of molten iron, 6.4 million tonnes of crude steel and 6.13 million tonnes of finished steel products this year, according to its annual operation report released on Friday.
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Unlike many of its peers building overseas bases abroad including steelworks mainly from scratch, Hebei Iron & Steel Group Co (HBIS), China’s second largest steel producer by capacity, focuses on acquiring and merging existing companies when expanding businesses abroad, Liu Jian, vice president of HBIS, explained to delegates attending the 17th International Steel Market and Trade Conference in Nanjing on Thursday.
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Orders for new ships won by South Korean shipbuilders will continue to grow in 2019, especially those for LNG carriers, Woo-Sig Jeon, senior managing director of Korea Iron & Steel Association said at the 17th International Steel Market and Trade Conference on March 28 in Nanjing in East China’s Jiangsu province.
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China’s stainless industry is on the path to having capacity of 56 million tonnes/year, given all the projects that have been newly-planned and under construction, Li Hua, president of Shanxi Taigang Stainless Steel Co, warned while addressing the 17th International Steel Market and Trade Conference on March 28 in Nanjing, East China’s Jiangsu province.
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Jiangsu Shagang Group (Shagang), China’s largest electric arc furnace (EAF) steelmaker headquartered in Zhangjiagang city, East China’s Jiangsu province, has cut its steel scrap procurement price by another Yuan 40/tonne ($6.7/t) effective from March 28 deliveries, the steel company said in an announcement the same day.
