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JFE Steel, Japan’s second largest integrated steelmaker, has decided to lift its entire catalogue of products by over Yen 13,000/t ($121/t) for April sales to all domestic and overseas customers, spot and long-term contract buyers, the Tokyo-based steelmaker has announced. The across-the-board increase is to offset higher iron ore and coal prices, a company official confirmed on March 4.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 100/tonne ($15.5/t) effective March 2, hoping to secure more deliveries to satisfy its firm demand, according to the market sources.
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Japan’s eight major automakers posted a 4.5% on-year drop in January output at both the domestic and overseas plants to about 2.11 million units, according to the data released by automakers until February 26, and the decline was not about auto demand but the worldwide shortage of semi-conductors, according to market sources.
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Shagang Group (Shagang), China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, is raising list prices of rebar by Yuan 150/tonne ($23.2/t) for sales over March 1-10, the company announced March 1, after keeping its prices unchanged since January 11.
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Osaka Steel, Japan’s largest steel sections producer, decided to keep its list prices of sections unchanged for domestic sales in March, trying to stabilize the prices in steelmaking raw materials and other input costs, though the company is ready to raise its prices in the coming months should the input costs incline further, a company official said on February 26.
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Kyoei Steel, Japan’s largest rebar producer, has decided to keep its rebar prices unchanged at Yen 82,000/tonne ($773/t) for domestic sales in March, and this applies to all its four plants across Japan, according to the company notice on February 25, just to give the market one more month to digest the previous price increases, a company official explained.
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Japan’s domestic plate prices rose Yen 2,000/tonne ($19/) on week by February 25, mainly on the list price hikes by the domestic steel producers, which have intensified the worry among the distributors, as higher prices may dampen the sales in an already stagnant market, market sources in Tokyo shared on Thursday.
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China Baowu Steel Group (Baowu), the world’s and the country’s top steel producer, has been the first in China’s steel industry to pledge realizing carbon neutral by 2050, or ten years ahead of China’s targeted timeline as a country, Chen Derong, Baowu’s chairman, disclosed in an interview with China’s media.
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Toyota Motor, Japan’s largest automaker, has informed its auto components suppliers that it will keep domestic automobile production at around 12,500-13,000 units/day during March-May, and its auto steel consumption, thus, will not be affected much by the short-time stoppage at half of its 28 assembly lines in Japan after the earthquake in mid-February, industry sources in Tokyo and Nagoya of central Japan shared on February 24.
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Shagang Group, China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, will continue to roll over its list prices of long steel products for sales over February 21-28, it announced on February 21. Industry watchers were surprised given that the domestic steel market is in a strong mood for price increases.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc furnace producer, will keep prices of all its finished carbon steel items unchanged for March sales, to give the market more time to fully digest its previous increases, the company announced on February 22.
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Beijing Jianlong Heavy Industry Group (Jianlong), a privately-owned steel conglomerate headquartered in Beijing experienced in acquisition and restructuring, is tipped to acquire Xingtai Iron & Steel (Xingtai Steel), a leading specialty longs maker based in Xingtai city in North China’s Hebei province, Mysteel Global has learned.
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Japan’s largest integrated mill – Nippon Steel – denied a news report by Nihon Keizai Shimbun (Nikkei), Japan’s business daily, that it has decided to suspend a blast furnace at its Kashima Area of East Nippon Works near Tokyo for a few years, though the domestic steel market sources see the likelihood.
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JFE Shoji Corporation, a trading company under Japan’s second largest integrated mill - JFE Steel group – has just commissioned its second coil processing plant at its existing coil distribution center in Hai Phong city of north Vietnam recently in February to cope with the probably growing demand for steel sheets in the ASEAN country, JFE Shoji announced on February 18.
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PT Gunung Raja Paksi Tbk (GRP), one of the largest privately-owned steel mills in Indonesia, plans to commission its first-ever 580 cu m blast furnace in the second quarter of this year if the construction work progresses according to plan, a company official shared on February 17.
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China Steel Corp (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, says that its carbon steel sales grew by 7.7% on year to reach 874,804 tonnes in January, according to the company’s latest release on February 17.
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Toyota Motor, Japan’s largest automaker, has decided to temporarily halted 14 assembly lines at its nine plants out of its 25 lines at 15 plants across Japan for one to four days starting February 17 due to the disruption from an earthquake that hit north Japan on late February 13, according to the company announcement on Tuesday.
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Integrated Indian steel major JSW Steel has set a February 2021 total sales target of a little over 9 lakh tonnes from its flagship Vijayanagar plant, which is actually lower from the planned sales target of about 9.60 lakh tonnes set for the previous month of January. Actual total sales in January, however, were lower from the plan at around 9.05 lakh tonnes.
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PT. Dexin Steel Indonesia (Dexin Steel), a Chinese-invested greenfield steelworks in Indonesia’s Morowali Industrial Park (IMIP) in Central Sulawesi province last week blew in the second of a pair of 1,780 cu m blast furnaces, completing the commissioning of both production lines in the mill’s first-phase project, according to a company post on February 4.
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Nippon Steel, Japan’s largest integrated mill, now expects to be able to post a pre-tax profit of Yen 30 billion ($284.6 million) on a consolidated basis for fiscal 2020 (April 2020-March 2021), reversing its earlier projection of a Yen 60 billion pre-tax loss, the company announced on February 5.
