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Toyota Motor, Japan’s largest automaker, has informed its auto component suppliers that it has adjusted its production plan for October-November at its domestic plants upward by 3-7% from its original plan set a month ago, industry sources in Nagoya and Tokyo shared on Friday. The carmaker said it was responding to expectations of better sales in the coming two months, they said.
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Tsingshan Group (Tsingshan), the world’s leading stainless steel producer headquartered in East China’s Zhejiang province, is planning to establish a new 4 million tonnes/year stainless steel project in Yangjiang city in South China’s Guangdong province, in partnership with a state-owned investment company Guangdong Guangxin Holdings Group Co (Guangxin), the steelmaker has announced.
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Osaka Steel, Japan’s largest section steel producer, has decided to add Yen 3,000/tonne ($28/t) to its October prices of sections for domestic sales, to offset rising input costs, a company official confirmed on September 24.
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We compared the seaborne iron ore benchmark price against the daily average price of Chinese rebar. Move your cursor over the chart below to see the historical data.
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JFE Steel, Japan’s second largest integrated steelmaker, has lifted all its construction steel prices other than H-beams by Yen 5,000/tonne ($48/t) for new bookings from the domestic buyers starting this week, a company official confirmed on September 23.
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Rio Tinto, the world’s second largest iron ore miner with core mining assets in Australia, has signed a Memorandum of Understanding (MoU) with the Dalian Port Company to build its first iron ore bonded blending operations at the port in Northeast China’s Liaoning province, according to the company’s sharing on Wechat on September 22.
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Japan’s domestic rebar prices have been on the rise as a result of price increments by the steel producers, though the actual demand has remained sluggish, which makes it uncertain whether the spot dealing prices will fully fulfilled the rises initiated by producers in the end, distributors based in Tokyo and Osaka pointed out.
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Vietnam's imported HRC prices have softened by $5-10/t w-o-w. Offers from Japan, South Korea have come down by $5. Offers from China declined by $5-10/t w-o-w due to decline in domestic prices amid plunge in futures.
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In August, after two months of gains in carbon steel sales volume, China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw the volume down 10.1% on month or 12.1% lower on year to 776,542 tonnes, according to the company’s latest release on September 21.
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Mergers and acquisitions since 2016 have grown China’s Baowu Steel Group (Baowu) into the world’s top steel producer as well as hitting its ambitious target of a 100 million tonnes/year steelmaking capacity one year ahead of schedule, and M&As will be a main theme in the company’s next five-year development, Chen Derong, the company chairman, sent a clear message.
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Nippon Steel, Japan’s largest integrated steelmaker, has decided to lift domestic prices of its sheet products for spot sales and for re-rollers by Yen 5,000/tonne ($48/t) from October shipments. Market watchers were relaxed about the increase Friday, saying the rise had been expected.
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A large integrated steel works project in Malaysia being promoted by Hebei Xinwu’an Iron & Steel Group (Xinwu’an Steel), a steel producer based in North China’s Hebei province, has just received approval from Malaysia’s Ministry of International Trade and Industry, according to a recent release from China’s Ministry of Commerce (MoC). Construction on the 10 million tonnes/year works project is about to start, the MoC release said.
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Kyoei Steel, Japan’s largest rebar producer, is adding Yen 3,000/tonne (28/t) to its rebar list prices for domestic sales in October, claiming it is now having to pay the highest price so far this year to secure ferrous scrap, according to a company announcement on September 16. Osaka-based Kyoei also warned that further rises in product prices are being considered depending on its production cost situation.
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Kobe Steel, Japan’s third largest integrated steelmaker, has decided to lift its wire rod and bar prices for the first time since June 2019, raising both the prices by Yen 10,000/tonne ($95/t) for October deliveries to both its domestic and overseas customers, as input costs have been rising, a company official confirmed on September 16.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace producer, has decided to raise the prices of certain but not all flat and long steel products by Yen 2,000/tonne ($19/t) for domestic sales in October, reflecting their varied market situations, the company announced on September 15.
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Nippon Steel, a leading H-beam producer in Japan, has decided to remain its H-beam domestic spot sales prices unchanged for September, so as to give the market one more month to fully digest its price hike for July sales, though it will lift the prices in the coming months to reflect higher input costs, the company announced September 14.
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Baoshan Iron & Steel Co (Baoshan Steel), the listed arm of China Baowu Steel Group, is raising its October list prices of carbon steel hot-rolled coil (HRC) for domestic sales by Yuan 50/tonne ($7.3/t), the company’s pricing policy released on September 10 showed.
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Kyoei Steel, Japan’s largest rebar producer, has taken drastic measures to cope with ever-rising steel scrap prices since late July, hiking its rebar prices by Yen 3,000/tonne ($28/t) for the output from its Yamaguchi plant in western Japan starting September 14, a company official confirmed on September 11.
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The company reported an increase in crude steel production volume by 6% and improvement in capacity utilization rate from the previous month.
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Note:
a) All prices are originated from Baosteel.
b) Exchange rate in September $1=Yuan 6.8423; Exchange rate in August 1US$=RMB 6.9803; price excluding 13% VAT.
c) “N/A” means Baosteel did not release price of the corresponding specification.
