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Jiangsu Shagang Group, China’s largest long steels producer, is adding Yuan 50/tonne ($7.4/t) to the ex-works prices of all its major long steel items including rebar, wire rod and bar-in-coil for sales over February 21-28, according to the mill’s latest pricing policy released on Thursday.
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Echeng Steel Co, a subsidiary of China Baowu Steel Group Corp, planned to build a new 120-tonne converter at its existing works in Ezhou, Central China’s Hubei province, to replace old facilities, The notice from Hubei’s provincial Ministry of Economy and Information Technology on February 19.
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Angang Steel Co (Angang), a key producer of flat steel in Northeast China’s Liaoning province, has decided to lift its flats list prices by Yuan 150/tonne ($22/t) for March sales in response to recovering demand from end-users after the Chinese New Year holiday over February 4-8, Mysteel was told on Friday.
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Taishan Steel Group Co, the only sizeable stainless producer in East China’s Shandong province has just started constructing an 800,000 tonnes/year stainless cold rolling mill adjacent to its existing stainless hot-rolling mill in Laiwu district, Jinan city of Shandong, a company official confirmed on Thursday.
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China’s domestic sales of 14-100 tonne heavy-duty trucks grew again, up 16% on month to 96,000 units in January, but it was down 12% on year, according to the latest data from Beijing-headquartered Commercial Vehicle World (CVWorld) on February 11.
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Jiangsu Shagang Group, China’s top privately-owned steel producer in East China’s Jiangsu province, announced to raise its ex-works prices of rebar and wire rod by Yuan 20/tonne ($3/t) and bar-in-coil by Yuan 50/t for sales over February 1-10 to reflect the improvement in the domestic market sentiment, though deals will be scant during the Chinese New Year holiday, a sales official from Shagang confirmed on February 1.
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A morning online meeting held on January 30 saw creditors to bankrupt Chinese steelmaker Bohai Steel Group Co (Bohai Steel) approve a draft restructuring plan for the mill, with private steelmaker Delong Holdings Limited to be Bohai’s rescuer, an official from major Bohai shareholder Tianjin Iron & Steel Group confirmed on Thursday.
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China’s Hebei Iron & Steel Group Co (HBIS), a leading steel producer in the Northern Hebei province, will be able to deepen its footprint in the overseas steel market via its latest agreement with India’s Tata Steel on January 28 to acquire a 70% stake in the latter’s steel assets in Southeast Asia, HBIS disclosed on the day of the sign-off.
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China’s steel exporters were doubtless disappointed that the country’s steel exports during 2018 registered another on-year fall – albeit by only 8.1% last year, compared with the 30.5% plunge seen in 2017. The latest General Administration of Customs (GAC) data showed total steel exports reached 69.3 million tonnes in 2018, off by 6.1 million tonnes from 2017. Within the total, exports of flat products decreased by 6.9% on year to 40.23 million tonnes, the latest data published on January 24 showed.
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Sansteel Minguang Co, the listed arm of Fujian Sangang Group in South China’s Fujian province, had to step on the brake for now from expanding its steel capacity at the coastal area after they decided to withdraw from acquiring the needed capacity quotas from Laiwu Steel Xinjiang Co via open auction, a Sansteel Minguang official confirmed on Thursday.
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Production of the four most popular electrical home appliances in China posted a mixed picture for 2018, with three of them including air-conditioner, television, and refrigerator continuing to grow on year, while washing machine scoring a year-on-year decline, according to the latest data released by China’s National Bureau of Statistics (NBS).
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Tsingshan Holding Group, the world’s top stainless steel producer, plans to build a plant in Dholera in Gujarat, West India, to manufacture batteries for electric vehicles, an industry source close to Tsingshan confirmed on January 22. The East China-based steel giant is actioning plans for an integrated stainless plant at Mundra, about 200 kms west of Dholera, but its move into batteries suggests the firm is eyeing opportunities for new energy in India, an emerging Asian economy, Mysteel notes.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, achieved a 3.7% year-on-year rise in its carbon steel sales over 2018 to 11.2 million tonnes, according to the company’s latest business statement released on January 22.
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Hebei Jinxi Iron & Steel Group (Jinxi), China’s leading section steel producer with steelworks in Tangshan in North China’s Hebei province, has decided to purchase 600,000 tonnes/year of capacity ‘quotas’ from a local government-backed capacity trading platform named Tangshan energy consumption and capacity trading center (TECCTC) in preparation for modernizing its facilities.
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Shenzhen-listed Hunan Valin Steel Co, the listed arm of Hunan Valin Group based in central China’s Hunan province, aims to produce 24 million tonnes of crude steel this year, according to the group’s chairman, Cao Zhiqiang, a result that would lever the firm into the ranks of China’s top four steelmakers.
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China’s steelmakers enjoyed sufficient ship plate orders from domestic shipyards last year as the country’s shipbuilders constructed the most vessels globally, despite a double-digit decline in tonnage delivered, Mysteel learnt on Thursday.
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China Baowu Steel Group Co (Baowu), China’s top and the world’s second largest steel producer after ArcelorMittal, has been embracing intelligence in manufacturing in the full swing, substituting 2,500 human employees with 479 robots by the end of 2018 for higher efficiency and lower costs, according to a company post on January 16.
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China’s drive to further expand its new energy vehicle (NEV) industry has taken another international turning with Tuesday’s announcement by the Hongkong-listed Evergrande Healthy Industry Group that it intends to take a controlling stake in a leading Swedish manufacturer of such vehicles. Chinese makers of high spec automotive sheet are certain to benefit directly in sales to two local plants but so might battery material makers, Mysteel notes.
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Guangxi Liuzhou Iron & Steel Group Co (Liugang), the largest integrated carbon steel mill in Southwest China, has officially expanded into the stainless sector with a ground-breaking ceremony on January 11 for its 5 million tonnes/year stainless plant at its subsidiary - Liugang Zhongjin Stainless Co - in Yulin, also in Southwest China’s Guangxi Zhuang Autonomous Region, a Liugang official confirmed on Tuesday.
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By an uncanny coincidence, two of Asia’s largest steel companies - China Baowu Steel Group Co (Baowu Group) and Japan’s Nippon Steel & Sumitomo Metal Corporation (NSSMC) – both announced the appointments of new senior executives on January 10, which is of importance as this may hold the promise of closer cooperation between the two steel giants in the future.
