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For November domestic sales, Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, has decided to raise its longs and plate list prices by Yen 3,000-5,000/tonne ($26-44/t) to reflect the supply tightness and transfer some of the rising costs, while the others have been flat on month, according to its announcement on October 18.
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China Steel Corp (CSC), the largest steel mill headquartered in South Taiwan's Kaohsiung, has decided to roll over its steel list prices for sales in November, given the expectation for firm demand this quarter and the challenges its downstream customers face, according to the company's monthly pricing policy released on October 15.
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Nippon Steel, Japan’s largest integrated mill, has filed lawsuits against Japan’s largest automaker - Toyota Motor, and Baoshan Iron & Steel (Baosteel) - the listed arm of the world’s and China’s top steel mill China Baowu Steel Group, alleging their infringements of Nippon Steel’s patent relating to non-grain oriented (NGO) electrical steel sheets, according the Japanese steel mills’ release on October 14.
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Rio Tinto, the world's second largest iron ore producers after Vale, has cut its Pilbara iron ore shipment guidance for the calendar year of 2021 to 320-325 million tonnes from the original 325-340 million tonnes, as the tight labour market in Western Australia has delayed some operations, according to its latest quarterly report released on October 15.
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Nippon Steel, Japan’s largest integrated mill, announced on October 14 to keep its H-beam list price for spot domestic sales unchanged so that the market has one month to digest the previous months’ price hikes, though it highlighted the possibility of price increment for November.
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Japan’s domestic rebar price, despite having been hovering at its 13-year high, may still have room for further rises as producers may raise their list prices with the surge in scrap price recently, and domestic distributors have also appeared more aggressively pushing through previous price hikes by producers, sources shared on Thursday.
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The volume of carbon steel sold by China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, slipped for the fourth month in September, declining by another 32,129 tonnes or 4.1% on month to 748,647 tonnes and refreshing the lowest since March, the company announced on October 12.
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Baoshan Iron & Steel Co (Baoshan Steel), the listed-arm of China Baowu Steel Group, will roll over domestic list prices for carbon steel hot-rolled coil (HRC) for November sales, according to its latest pricing policy released via its official WeChat account on October 11. The Chinese steel giant's announcement means the company will have rolled over its HRC prices for five successive months.
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Citing the ongoing shortages of supply, Shagang Group, China’s largest privately-owned steel producer in terms of capacity, is hiking the list prices of its long steel products by another Yuan 100-150/tonne ($15.5-23.3/t) for sales over October 11-20, it announced to its sales agents on October 11.
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Nippon Steel, Japan’s largest integrated mill, will not produce crude steel at Kure area of Setouchi Works in western Japan anymore with the second and the also the last blast furnace shut down on September 29 as planned as part of the corporate restructuring, a company official confirmed on Wednesday.
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Osaka Steel, Japan’s largest steel sections producer and a subsidiary of Nippon Steel, has decided to pause from monthly price rises for its products in October for domestic sales so as to give the spot market one month to digest the previous price rises, a company official shared on September 29.
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China Steel Corp (CSC), Taiwan’s top steel producer and a major carbon steel exporter to Japan, has decided to remain its flats prices unchanged shipments to Japan over November-January 2022, though it will continue to negotiate with those customers that have yet fully accepted its price increments over August-October, a CSC official in Osaka shared on September 28.
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Despite the heated discussion in the overseas market about the financial matter of Evergrande Group, China’s second largest property developer, and the concerns about the ripple effect on China’s property market and steel demand, China’s domestic steel market sources appeared rather calm, anticipating whatever adverse impact on this individual case will be contained and managed.
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Kyoei Steel, Japan’s largest rebar producer, has decided to lift its rebar base price by Yen 3,000/tonne ($27/t) on month to Yen 93,000/t for all its four plants across Japan for October domestic sales, mainly to transfer higher input costs, the company announced on September 22.
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In August, China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, post a six-month low in carbon steel sales, reaching 780,776 tonnes, or down on month for the third month by 19,338 tonnes or 2.4% mainly due to the mediocre demand in the summer month, according to the company release on September 22.
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Over September 21-30, Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, has raised its rebar ex-works price for the second ten-day domestic sales cycle by another Yuan 150/tonne ($23.2/t) on noting the strong demand especially from steel traders recently, according to a Shagang official.
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Shagang Group, a leading electric-arc-furnace (EAF) mill in East China’s Jiangsu province, has trimmed its steel scrap procurement price by Yuan 70/tonne ($10.8/t) effective September 17, as many local steel mills have reduced their output upon the local authority’s order and their scrap consumption, thus, dropped recently, according to market sources.
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China Steel Corp (CSC), the largest steel mill in Taiwan, is raising some of its steel list prices for sales in October and for this year’s last quarter to offset higher raw material costs and to narrow the gap with global prices, according to the company’s pricing policy released on September 15.
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Nippon Steel, Japan’s largest integrated mill, announced on September 14 to add Yen 5,000/tonne ($46/t) onto its H-beam list price for spot domestic sales with immediate effect, which is meant to transfer some of the rising costs as well as to narrow the gap with the global prices.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, announced on September 14 to keep all its carbon steel finished products prices unchanged for October sales, using the one month to review how much of its previous price hikes have been absorbed by the spot market and to monitor the steel market development both at home and abroad.
