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China Baowu Steel Group Co (Baowu), China’s largest steel producer, is actioning a plan to advance electric arc furnace (EAF) steelmaking, with many EAF steel projects currently under study at its subsidiaries nationwide, a Baowu official confirmed.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, said its August carbon steel sales remained almost stable on month as a consequence of the island’s still lacklustre steel demand, with the steelmaker’s total sales lower by 1% or by 9,373 tonnes on month at 883,690 tonnes, according to the company’s latest release published on September 18.
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Metallurgical Corporation of China (MCC), China’s top construction and engineering company, has been benefiting from the country’s “Belt and Road Initiative (BRI)” strategy and winning contracts to build not only steel mills but also civil engineering projects in such countries, Zhang Ye, vice president of MCC shared at the Asia Steel Forum 2019 in Shanghai of China on September 19.
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More details have emerged about the major expansion being planned by Baosteel Desheng Stainless Steel Co (Desheng) that could see the company’s capacity triple to nearly 6 million tonnes/year. But crucially, the project’s timeline remains vague, Mysteel Global has learned.
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Donghai Steel Group in Tangshan city in North China’s Hebei province, is planning to build a new 4 million tonne/year electric arc furnace-based steel mill in South China’s Guangdong province, a company official confirmed on Tuesday.
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Handan Iron & Steel Group Co (Hangang), a subsidiary of China’s second largest steel producer Hebei Iron & Steel Group (HBIS) and located in Handan city, North China’s Hebei province, is shutting the older of its two steelworks in the city centre and using the scrapped capacity to build a new works in a county nearby, a company official confirmed on Tuesday.
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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Hebei Jinxi Iron & Steel Group (Jinxi), China’s leading section steel producer headquartered in Beijing, is planning to relocate its steelworks in Tangshan, in North China’s Hebei province, to Fangchenggang city in South China’s Guangxi Zhuang Autonomous Region, according to a recent announcement from Jinxi’s controlling shareholder, China Oriental Group Co (Oriental) on September 3.
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Yieh United Steel Corp (Yusco), a top stainless producer headquartered in Kaohsiung in South Taiwan, is hiking its list prices for 300-series hot-rolled and cold-rolled stainless coils by TWD 3,000/tonne ($95.5/t) for sales in September, a company official confirmed Wednesday. However, the mill is keeping prices for 400-series HR and CR stainless coils unchanged again this month.
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A greenfield steel project in East Malaysia backed by Chinese interests is progressing, albeit very slowly, suggests a recent post by the project’s prime contractor, Metallurgical Corporation of China. MCC was announcing that it had just visited the planned site for the works in Sarawak, and had exchanged views with local officials, Mysteel Global notes.
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The most-traded nickel November contract on the Shanghai Future Exchange (SHFE) closed at its 4.5-year high on September 2 with the prevalent market concern on supply shortage with Indonesia’s probably moving forward the complete ban on nickel ore exports from the originally-planned 2022 to 2020, market sources said.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, says its carbon steel sales totalled 893,063 tonnes in July, recording an increase of 10.9% or 87,859 tonnes from those in June, according to the company’s latest release on August 28.
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New profits at HBIS Company Limited, the Shenzhen-listed arm of HBIS Group, plunged by 35.9% on year during the first half of 2019, though its H1 steel production saw an on-year increase, according to the company’s semi-annual report released on August 27.
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Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, axed some Yuan 3.2 billion ($451.3 million) in its cost in H1 of 2019, which exceeded its whole 2019 target at Yuan 2.3 billion and served a vivid illustration to its commitment to cutting on its operational and production costs for sustainable development.
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Taiwan’s top steel producer, China Steel Corp (CSC), will keep its list prices of most steel products stable for local sales over October-December, a company official confirmed Friday. Though the Kaohsiung-based mill had clipped prices for Q3 sales, CSC remains very cautious about local steel market trends for the last quarter of this year, Mysteel Global notes.
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Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, posted its net profit plunge 38.2% on year in the first half of 2019, as demand from downstream users with auto industry in particular weakened on year, according to the company’s interim report released on August 23.
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Daye Special Steel, China’s largest specialty steel listed company headquartered in Huangshi city, Central China’s Hubei province, posted its crude steel up 9.5% on year to 636,500 tonnes in the first half of 2019, successfully beating the affection of the US-China trade friction on its core steel business.
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Jiangsu Shagang Group, the country’s largest privately-owned steelmaker headquartered at Zhangjiagang in East China’s Jiangsu province, will roll over its list prices for all long steel items for the current August 21-31 sales period, according to the company’s latest pricing policy released on Wednesday.
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Alliance Steel (M) Sdn. Bhd (Alliance Steel), a new China-invested integrated steelworks in Kuantan in East Malaysia, is planning to build a 14-sqm shaft furnace to improve its raw material supply system, a company official confirmed on August 20.
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Fangda Special Steel Technology Co in East China’s Jiangxi province, one of China’s most profitable steel mills in 2018, saw its crude steel output down 5.7% on year in H1, as its NO. 2 blast furnace has been suspended since an explosion in late May, a company official confirmed on August 16.
