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Note:
a) All prices are originated from Baosteel.
b) Exchange rate in July $1=Yuan 7.031; Exchange rate in June 1US$=RMB 7.1167; price excluding 13% VAT.
c) “N/A” means Baosteel did not release price of the corresponding specification.
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Jindal Steel & Power has sold off its Oman-based steel mill Jindal Shadeed to one of JSPL’s promoter firms, Mauritius-based Templar Investments, for $1 bn as part of its efforts to reduce debt.
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India, world’s second-largest steel producer, is planning a multi-pronged approach to slash the significant cost of logistics that is eroding the metal’s global competitiveness, Minister of State for Steel Faggan Singh Kulaste said on Wednesday.
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China HRC export offer move up post festive holidays-
Nation's steel manufacturers increased their HRC export offers by $5/t post the Dragon Boat Festival. Current offer stands at $445-450/t FOB China, as against $440-445/t FOB basis at the end of the previous week.
On the other hand, domestic HRC prices declined by
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Tata Steel conducted investor conference call today for FY20, key highlights of the same are mentioned below:
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This week imported HRC offers for Vietnam from major exporting nations remained largely stable owing to lower buying interest from importers based in Vietnam. Enough inventory with the traders amid decent import bookings and domestic procurement in the past few weeks have also kept the buyers at the side-lines.
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Guangxi Liuzhou Iron & Steel Group (Liugang), headquartered in Liuzhou city, Southwest China’s Guangxi Zhuang Autonomous Region, commissioned the first phase of its two-phase greenfield steelworks on June 28 in Fangchenggang, a coastal city in Guangxi, according to a video of the commissioning ceremony posted by the company on the same day.
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Shortly after the China Iron & Steel Association (CISA) called for more fixed-priced deals in the physical iron ore market, Hebei Iron and Steel Group (HBIS) has opened its “HBIS International Iron Ore Supermarket” for business on the e-trading platform run by the Beijing Iron Ore Trading Center Corporation (COREX).
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China HRC export offer softens on weakening demand
--The weakening of the demand in the Southeast Asian countries due to approaching monsoon season led to a marginal decline in export offers by $5/t this week.
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Kyoei Steel, Japan’s largest rebar producer, announced on June 24 to lift its rebar prices by another Yen 2,000/tonne ($19/t) for July sales just to transfer some added costs from scrap prices to its finished steel products, or the third price increase by the same degree after June 1 and June 15.
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Osaka Steel, Japan’s largest producer of steel sections, has raised its list prices for the first time after October 2018, adding Yen 5,000/tonne ($47/t) to its July sales prices mainly to reflect higher production costs, a company official confirmed on June 23.
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Japan’s crude steel output including carbon and special steel dropped more substantially in May, down 31.8% on year to about 5.9 million tonnes, as against the 23.5% on-year fall in April, which was mainly due to the negative impact of the pandemic on steel demand, according to the latest data released by the Japan Iron & Steel Federation (JISF) on June 22.
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Indian secondary steel prices remained on downtrend during the week-25 due to limited inquiries and improved supply. Also, the lifting of finished steel products remained slow.
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Carbon steel sales at China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, continued to drop in May, sliding by another 14.8% on month to 730,444 tonnes, the lowest record since March 2015, a company official confirmed. Steel demand both at home and abroad had not recovered last month, he admitted.
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Japan’s Yamato Kogyo is selling 51% of its wholly owned subsidiary YK Steel Corporation, the Japanese mini-mill’s South Korean plant making rebars, to leading local mini mill Daehan Steel to strengthen its Korean rebar business, the company announced on June 19. West Japan-based Yamato said that, subject to regulatory approvals, it expected the sale to be completed and its new joint venture with Daehan to start by this September.
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Shagang Group, China’s largest long steel supplier, has rolled over the prices of all its major long steel products from mid-June for domestic sales in the last ten days of June, though the spot transaction price has softened modestly in the past ten days on the softening demand amid rainfalls in South and then East China.
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Unlike the previous years, Japan’s electric-arc-furnace (EAF) mills will not stock up much finished steel for sales in July-August, even though their plants will be shut down for about one or two weeks to reduce power usage as usual during the country’s peak power consumption in summer, as demand in 2020 has been too stagnant, mini-mill sources confirmed on June 19.
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Vietnam's domestic integrated steel mill, Formosa Ha Tinh (FHS), has released its new price list for Aug'20 deliveries today. The company has sharply raised its HRC offers along with wire rod offers due to the increase in global HRC offers.
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Taiwan’s top steel producer, China Steel Corp (CSC), has decided to raise list prices of its major steel products priced monthly by TWD 900-1,200/tonne ($30-40/t) for sales in August, a company official confirmed on Thursday. The average increase of 3.7% is to offset rising production costs and to benefit from gradually recovering demand, he explained.
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Rashtriya Ispat Nigam Limited (RINL), the holding company for the Visakhapatnam Steel Plant (VSP), is betting big on exports of large, 125*125 mm billets that are being produced from its medium merchant structural mill (MMSM). Speaking to SteelMint, RINL Chairman-cum-Managing Director P.K. Rath said, there has been a steady stream of enquiries for the large billets measuring 125*125 mm from the Middle East and demand for semis overall is strong.
