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Global automobile production by Japan’s eight major automakers during the fiscal 2020 (April 2020-March 2021) fell to a nine-year low, or recording a 12.2% on-year decline to about 23.12 million units, according to the latest data released by the automakers, though the on-year decline was not as steep as the market had expected.
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Fortescue Metals Group (FMG), the world’s fourth largest iron ore miner with mining assets in Western Australia, has lifted its iron ore shipments guidance for FY21 (July 2020-June 2021) to 178-182 million wet tonnes from the original 175-180 million wet tonnes, even though its iron ore shipment over January-March was flat on year and reduced 9% on quarter, according to its latest quarterly report released on April 29.
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As the demand for liquid medical oxygen (LMO) mounts in the battle against the devastating second wave of Covid-19, court orders, circulars from district collectors and verbal urgings from state officials are seeking augmentation of supply of this life-saving gas from the iron and steel industry. The ways and means include diversion of industrial oxygen to hospitals as LMO, mill closures and production curbs on secondary sector mills and hand-over of empty cylinders for O2 refills.
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Nippon Steel, Japan’s largest integrated mill, is adding another Yen 10,000-15,000/tonne ($92-138/t) to its prices of carbon steel flats for June shipments to spot buyers and re-rollers, a company official confirmed Wednesday, stressing that “the additional hike is vital for us to keep supply flat products smoothly.” But market participants canvassed by Mysteel Global were not impressed that the steel giant had hiked spot prices for two consecutive months and each time by a large margin.
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Nippon Steel, Japan’s largest integrated steelmaker, has decided to add Yen 10,000/tonne ($92/t) onto its commodity-grade heavy plate list price for spot sales and to the construction steel processors in May, just to reflect higher input costs, a company official confirmed on April 27.
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Pohang Iron and Steel Co. Ltd. (POSCO), a major steel producer in South Korea, reported its Q1 CY ’21 results today. Steel production and sales have increased y-o-y with an improvement in operating capacity during Q1 CY ’21.
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Baoshan Iron & Steel Co (Baosteel), the Shanghai-listed arm of China Baowu Steel Group, saw its net profits for Q1 skyrocket 247.8% on year to Yuan 5.4 billion ($832.1 million), reflecting overall strengthening steel demand and lower costs, according to the company’s latest quarterly report on April 27.
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Tokyo Steel Manufacturing, Japan’s top electric-arc-furnaces steel producer, targets to grow its carbon finished steel sales by 24% on year to 2.6 million tonnes over fiscal 2021 (April 2021-March 2022), mainly to respond to the higher steel demand, a company director shared on April 27.
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Japan’s steel value chain including steel producers and end-users expects little impact of the third state of emergency on their operations, even though the latest partial lockdown will be running over April 25-May 11, affecting Tokyo, Osaka, and Kyoto and Hyogo in western Japan.
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On April 25 2021, Shanghai Ganglian E-Commerce Co., Ltd. (Mysteel) completed the annual assurance review in accordance with the requirements of the International Organization of Securities Commission (IOSCO), or the third year in a row. Starting 2021, a series of coking coal and coke pricing indices have also joined Mysteel’s related steel and iron ore pricing indices, being IOSCO compliant.
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Taking a big step towards shifting to digital trade transactions, steel major Tata Steel Ltd. has executed a blockchain-enabled, paperless trade transaction of export of steel to Universal Tube & Plastic Industries, UAE.
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Osaka Steel, Japan’s largest steel section producer, will remain its list prices of sections unchanged on month for May domestic sales, so that the spot market has one more month to digest the previous price increments, though the company mulls the possibility of raising prices in June, a company official confirmed on Friday.
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Nippon Steel, Japan’s largest integrated steelmaker, has decided to raise the prices of its carbon steel welded and seamless pipes by 10% or about Yen 15,000/tonne ($139/t) for spot domestic sales for May, or the first time since the rise in February, to reflect higher input costs and supply tightness, a company official confirmed on April 22.
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Kyoei Steel, Japan’s largest rebar producer, has decided to increase its rebar price by 3,000/tonne ($28/t) to Yen 85,000/t for all its four plants across Japan for May domestic sales, mainly to transfer higher input costs and also to brace for rises in raw material prices in the future, the company announced on April 20.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has decided to roll over the list prices of its major long steel products for April 21-30, after having raised the prices by a total of Yuan 300-400/tonne ($46.1-61.5/t) over April 1-20.
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Carbon steel sales during this year’s January-March quarter at China Steel Corp (CSC), Taiwan’s top integrated steel producer, declined by 8.7% on year. Nevertheless, the company performed extremely well in terms of pre-tax profits, mainly thanks to the continuous growth in steel sales prices, a company official confirmed on Monday.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc furnace producer, is adding Yen 5,000-13,000/tonne ($46-120/t) to its list prices of carbon steel coils and sheets and square pipes for May domestic sales, to narrow the gap with international market prices, the company announced on April 19. However, the mill is keeping long product prices unchanged to wait for its previous increase to be digested.
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China Steel Corp (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, is raising its monthly list prices for finished steel by 8.1% on average in response to robust demand both at home and abroad, the steelmaker announced on April 15.
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The Channar Mining Joint Venture, China’s first-ever overseas iron ore mining investment initiated back in 1987 between Sinosteel Corp and Rio Tinto and which ceased operations last December, has been hailed this week.
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Laoting Steel, a steelmaker under the umbrella of Hebei Iron & Steel Group (HBIS), this week commissioned the No.3 blast furnace at its new works in Laoting county in North China’s Tangshan city, meaning that all three of the steelworks’ 2,922 cu m blast furnaces are operation, a HBIS official confirmed on April 15.
