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Xining Special Steel Co, the largest specialty steel producer in West China, produced 168,000 tonnes of steel products in April, an historical high, according to company chairman Yi Liangqiu. He’s aiming for total steel production of 1.8 million tonnes this year, up 23.3% from last year.
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The Indian steel conglomerate Tata Steel will stick to its original plan of operating all its 32 million tonnes/year crude steel capacity at its home country by 2025 despite that its proposed joint venture with Thyssenkrupp as part of its divestment efforts was rejected by the European Commission on May 10.
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Yieh United Steel Corp (Yusco), one of Taiwan’s largest integrated stainless makers and headquartered in Kaohsiung in Southwest Taiwan, has decided to cut its stainless prices for May sales, given the decline in global nickel prices and the falloff in demand from downstream users, Mysteel learned on Monday.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, reported that its total carbon steel sales over this year’s first quarter decreased by 3.4% or 93,215 tonnes year on year to 2.6 million tonnes, according to the company’s latest release on April 29.
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In contrast to the nearly 10% annual growth in China’s steel output in the first quarter of 2019, the Shenzhen-listed Shanxi Taigang Stainless Steel Co (STSS), the largest steel mill in North China’s Shanxi province, has made it clear in its 2018 annual report to keep its steel production at 10.8 million tonnes including stainless steel.
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Baoshan Iron and Steel Co, the listed-arm of China Baowu Steel Group, posted a net profit of Yuan 2.7 billion ($401.7 million) in this year’s first quarter, representing a marked decline of 45.7% on year, according to the company’s Q1 report published on April 25. Over the period, Baoshan Steel’s production remained stable while the sales prices of its products dropped significantly, it said.
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Hebei Tianzhu Iron & Steel Group, a second-tier steelmaker located in Tangshan in North China’s Hebei province, has joined other steelmakers in the city relocating to the coast by announcing plans for a new 3.7 million tonnes/year greenfield works.
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Shandong Iron & Steel Co (Shangang) has begun hot run trials on the second 5,100 cu m blast furnace at its new integrated steelworks at Rizhao in East China's Shandong province, a company official confirmed on April 17.
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The first quarter of 2019 saw Chinese steel mills’ margins squeezed amid rising iron ore prices while dismal domestic steel market and a few listed companies already warned the shareholders of a 60%-80% year-on-year slump in their net profits.
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Production of steel and molten iron at Shenzhen-listed Hunan Valin Steel Co, the listed-arm of Hunan Valin Group based in Central China’s Hunan province, reached historical highs last month, the company announced on April 10.
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China Baowu Steel Group Co, China’s largest steel producer by capacity and headquartered in East China’s Shanghai municipality, has begun constructing a third blast furnace at its new steelworks in Zhanjiang city in South China’s Guangdong province, according to a release of Baowu’s official website on April 2.
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The Shanghai- and Hongkong-listed China Molybdenum Co (CMOC), will keep its molybdenum output stable at 14,500-16,000 tonnes in 100% moly content amid the degradation while a possible higher demand from domestic stainless sector, according to its annual report released on March 29.
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Shanghai-listed Chongqing Iron & Steel Co (Chonggang), based at Chongqing city in Southwest China, expects to produce 5.86 million tonnes of molten iron, 6.4 million tonnes of crude steel and 6.13 million tonnes of finished steel products this year, according to its annual operation report released on Friday.
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Unlike many of its peers building overseas bases abroad including steelworks mainly from scratch, Hebei Iron & Steel Group Co (HBIS), China’s second largest steel producer by capacity, focuses on acquiring and merging existing companies when expanding businesses abroad, Liu Jian, vice president of HBIS, explained to delegates attending the 17th International Steel Market and Trade Conference in Nanjing on Thursday.
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China’s stainless industry is on the path to having capacity of 56 million tonnes/year, given all the projects that have been newly-planned and under construction, Li Hua, president of Shanxi Taigang Stainless Steel Co, warned while addressing the 17th International Steel Market and Trade Conference on March 28 in Nanjing, East China’s Jiangsu province.
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A new integrated steel works is taking shape in Lu’an city in East China’s Anhui province, with the first phase of the 10 million tonnes/year works to commission this coming August, according to Lu’an Steel Holding, the company actioning the project.
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Xinjiang Bayi Iron and Steel Co (Bayi Steel), based in Northwest China’s Xinjiang Uyghur Autonomous Region, suffered a major decline in its net profit during 2018, mainly due to the high cost of raw materials and poor local demand, according to the company’s annual report for last year published on March 26. The company’s poor performance was all the more striking because it occurred when the majority of Chinese steelmakers were prospering, Mysteel notes.
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Nanjing Iron and Steel Co (Nanjing Steel), a major steelmaker headquartered in Nanjing in East China’s Jiangsu province, expects molten iron and crude steel production to enjoy a lift this year, now that prolonged maintenance on one of its major blast furnaces is completed, a company official told Mysteel on Tuesday.
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Angang Steel Co, a major Chinese flat steel producer headquartered in Anshan in Northeast China’s Liaoning province, saw its net profit surge by 19.8% on year to nearly Yuan 8 billion ($1.2 billion) in 2018, mainly thanks to its acquisition of Chaoyang Iron and Steel Co, as well as higher output amid a healthy domestic steel market, the company said in its annual report released on March 19.
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Shandong Shiheng Special Steel Group Co in Tai’an City, East China’s Shandong province has already been granted all the approvals to build four new blast furnaces with each over 1,000 cu m soon in replacement of its existing ironmaking facilities, a company official confirmed on Tuesday.
