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Shandong Iron & Steel Group (Shangang) in East China’s Shandong province, had to modestly trim its greenfield specialty steel capcity in Linyi, a coastal city of Shandong on failing to acquire enough old capacity quotas to fulfil the original 6 million tonnes/year plan, according to a government notice.
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Kunming Iron & Steel Group Co (Kungang), a state-owned steel company in Southwest China’s Yunnan province, is mulling on the possibility of investing in a 4 million tonnes/year greenfield integrated steelworks in Myanmar, Kungang officials confirmed on Wednesday.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw its pre-tax profit for May slump by 23% from April to reach TWD 1.7 billion ($55.1 million), according to a company release on June 24.
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Jiangsu Shagang Group (Shagang), China’s largest private steel producer in East China’s Jiangsu province, slashed another Yuan 80-100/tonnes ($11.7-14.6/t) off its ex-works prices for its long steel products for sales over June 21-30, according to the company’s latest pricing policy released on June 21.
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Alliance Steel (M) Sdn. Bhd, a China-invested steel company in Kuantan in East Malaysia, hosted a completion ceremony on June 15 to formally signal the end of construction on the first phase of its integrated steelworks project that will produce mainly rebars, wire rods and H-beams.
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Rio Tinto, the world’s second largest iron ore producer, announced on the evening of June 19 to further cut 13 million tonnes off its shipment guidance from its primary operations in Pilbara, Western Australia.
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Increased investments from Chinese steelmakers constructing steel plants in the ASEAN region will have a profound influence on the local steel industry in the region, Tan Ah Yong, Secretary General of the South East Asia Iron and Steel Institute (SEAISI), said at the 2019 SEAISI Conference & Exhibition in Bangkok, Thailand, on June 17.
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JFE Steel will remain committed to its presence in the ASEAN countries, acting either as an “insider” or an “investor” in the region’s steel industry, depending on the opportunities, Yoshiyuki Nobusa, senior vice president of JFE Steel, shared at the 2019 SEAISI Conference and & Exhibition on June 17, in Bangkok, Thailand.
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Formosa Ha Tinh Steel Corporation (FHS) in north central Vietnam's Ha Tinh province aims to increase its finished steel output to around 6-6.5 million tonnes for 2019, FHS vice president Lin Yao-Kang shared at the 2019 SEAISI Conference & Exhibition in Bangkok, Thailand on June 17.
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China Baowu Steel Group Co, China’s top steel producer headquartered in Shanghai, has started building a 1.7 million tonnes/year cold rolling mill at its integrated Zhanjiang works in South China’s Guangdong province, a company official confirmed on Thursday.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, opted to lower its list prices for carbon steel hot-rolled coil for July sales from its three HRC works by Yuan 100/tonne ($14.5/t), according to the company’s latest pricing policy released via its official Wechat account on June 10. Before the adjustment, the East China steel giant had rolled over its HRC prices for three successive months.
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Jiangsu Shagang Group (Shagang), the largest long-steel producer in East China’s Jiangsu province, has slashed its list prices of construction steel products including rebar for sales over June 11-20 after keeping them unchanged since late April, as low seasonal demand this month is pressuring domestic longs prices.
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China’s Jiangsu Shagang Group, the country’s largest privately-owned steelmaker, has decided to retain all list prices of its long steel items for sales over June 1-10, according to the company’s latest pricing policy. This makes for the fourth straight sales period where Shagang, headquartered at Zhangjiagang in East China’s Jiangsu province, has opted to roll over its entire long-product catalogue, Mysteel Global notes.
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China Baowu Steel Group (Baowu), China’s largest steel producer, has been granted the controlling 51% stake in Magang (Group) Holding (Magang) free of charge, which will help with China’s steel industrial concentration drive and enable Baowu to catch up with ArcelorMittal, the world’s top steel mill, in capacity, Chinese market sources commented on Monday.
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The No.2 blast furnace belonging to Fangda Special Steel Technology Co in East China’s Jiangxi province exploded at around 16:30 on Wednesday, a company official confirmed late Wednesday afternoon.
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The stated-owned Shandong Iron & Steel Group (Shangang) in East China’s Shandong province has proceeded with the second-stage development planning at its new Rizhao integrated steelworks in the coastal area of Shandong to expand the ultimate capacity to around 19 million tonnes/year, a Shangang official disclosed on Wednesday.
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The No.2 blast furnace belonging to Fangda Special Steel Technology Co in East China’s Jiangxi province exploded at around 16:30 on Wednesday, a company official confirmed late Wednesday afternoon.
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A new steel company in Lu’an city, East China’s Anhui province, has recently commissioned rolling mills for producing bar-in-coil and wire rods, an official from the company – Lu’an Steel Holding – confirmed on Tuesday. For now, the company will roll semis purchased from the market, but it aspires eventually to be a 10 million tonnes/year integrated steel producer, Mysteel Global notes.
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The pre-tax profit for China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw a substantial rise of 32% month on month to reach TWD 2.2 billion ($70.3 million) in April, according to a company release on May 27.
