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Nippon Steel Engineering, the engineering arm of Japan’s largest steel producer, has received an order from Taiwan’s China Steel Corp to supply a large Coke Dry Quenching (CDQ) plant, NSE announced on November 26.
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Japan’s dealer prices of carbon steel hot-rolled and cold-rolled sheets have both gained Yen 1,000/tonne ($10/t) on month due to the tightening in supply from the distributors, and buyers were forced to pay more to secure deliveries, according to sources in Tokyo and Nagoya in central Japan.
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Osaka Steel, Japan’s largest steel section producer, has added Yen 3,000/tonne ($29/t) on its list prices of sections for December domestic sales, mainly to offset higher scrap prices, a company official confirmed on November 26.
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China Baowu Steel Group (Baowu), China’s and also the world’s top steel producer in capacity, has been taking no break in its expansion in capacity and inner strength enhancement at the same time, with the latest move to solidify its footing in Northwest China via acquiring existing steel mill and iron ore mines, Mysteel Global noted.
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Toyota Motor, Japan’s largest automaker, has informed its auto component suppliers that it will keep domestic vehicle production at above 13,000 units/day until February, industry sources in Nagoya and Tokyo said on Wednesday. The projected daily rate will be slightly lower compared with previous months, but the level remains high overall, meaning that steel consumption by the company and its vast network of components suppliers will likely stay firm, they said.
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Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace located in the Kimitsu Area of its East Nippon Works in Chiba prefecture, near Tokyo, to respond to improving steel demand from consumers, especially auto makers.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has raised its long steel ex-work prices for the third pricing term over November 21-30, with rebar up another Yuan 50/tonne ($9.1/t) and wire rod and high-speed coil prices up more substantially by Yuan 200/t from the levels over November 11-20.
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Nippon Steel, Japan’s largest integrated mill, plans to start commercial production on a new continuous hot-dip galvanizing line (CGL) at the Kimitsu area of its East Nippon Works in Chiba prefecture sometime during January-March next year, a company official confirmed on Thursday. The start-up, delayed for over six months, is to lift supplies of ultra-high-tensile steel sheets for Japan’s recovering automotive manufacturing sector.
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Japan’s all kinds of steel exports for October fell 13% on year to about 2.47 million tonnes, or the sixth consecutive month posting an on-year decline, mainly as the Japanese integrated mills had been prioritizing supplies to domestic customers, Mysteel Global understood from the preliminary data released by Japan’s Ministry of Finance on November 18.
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Kyoei Steel, Japan’s largest rebar producer, has decided to lift its rebar prices by Yen 3,000/tonne ($29/t) for December sales, mainly to reflect higher scrap prices and to secure sufficient steel margins for steady operations, the company announced on November 17.
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Indian steel major – Tata Steel (TSL) has recently announced its Q2 FY’21 results. In the Q2 FY 21 investor’s call, TSL reported its standalone domestic sales volumes rose 22% y-o-y to 5.05 mn t—it’s highest-ever quarterly figures. Improved realisation, lower coal prices and relatively fewer exports helped Tata Steel improve its operational profit.
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China Steel Corporation (CSC), Taiwan’s top steelmaker saw its carbon steel sales up further on month for the second month by October and at a faster rate of 9.5% on month to 889,930 tonnes, and the ratio in exports also shot up to 41% of the total, according to the company release on November 16.
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Nippon Steel, Japan’s largest integrated mill, expects to sell only about 620,000 tonnes of carbon and special steel seamless pipes during the current fiscal (April 2020-March 2021), down 36.1% on year, as the COVID-19 pandemic has brought oil and gas development projects in many countries to a halt.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, is adding Yen 2,000/t ($19/t) to the list prices of all its finished carbon steel products for December sales to pass on higher input costs. The mini-mill last Thursday raised its scrap buying prices by Yen 500/t to Yen 1,500/t for all grades at all its facilities, a move Mysteel Global predicted was a likely precursor to it raising product prices for December sales.
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China Steel Corp (CSC), Taiwan’s top steel producer, has further increased its monthly flat steel list prices by TWD 300/tonne ($10.5/t) for its local sales in December, which has been on an uptrend since July sales because of the continuing demand improvement in and out of Taiwan, according to the company’s pricing release on November 13.
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China’s two major flat steel producers, Baoshan Iron & Steel Co (Baoshan Steel) and Angang Steel Co, both announced on November 10 plans to add Yuan 100/tonne ($15/t) to their list prices for carbon steel hot-rolled coil (HRC) for domestic sales in December, indicating both mills’ strong intention to hold onto prices amid improved sentiment and higher production costs.
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Nippon Steel, Japan’s largest integrated mill and a leader in H-beam producer, has decided to keep its November H-beam prices for domestic spot sales unchanged, to give the market a month to fully digest the price hike it tabled for October sales, the company announced on November 12.
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China’s Beijing Jianlong Heavy Industry Group Co (Jianlong Group) is on the way to add a 15 million tonnes/year iron ore mining and processing capacity by developing the country’s largest single underground mining operation - Sishanling project in Benxi, Northeast China’s Liaoning province, and the first-stage 7.5 million t/y is expected to commission by November 2022, a company official confirmed.
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Indian govt owned SAIL (Steel Authority of India Limited) has recently announced its financial and operational results for Q2 FY ‘21. Major key takeaways of its investor conference call are mentioned below.
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China Baowu Steel Group, the top steel mill in China and almost matching ArcelorMittal globally in production capacity, has passed the final hurdle towards getting a 51% stake in Taiyuan Iron & Steel Group (TISCO), with the final approval of the related authorities, and this will also enable it to soon pass the targeted 100 million tonnes/year installed capacity one year in advance, Mysteel Global understands
