-
The city government of Tangshan in North China’s Hebei has finalized the degree to which steelmakers in the city are to reduce production during the winter restrictions period, market respondents confirmed Tuesday. Given the city’s prominence as the supplier of the most steel in the world’s largest steel producing country, Tangshan’s advisory should be a crucial indicator of how China’s steel sector will manage this season’s production cuts. Unfortunately, it is not.
-
Hongxing Iron and Steel Co, a steelmaker with 5 million tonnes/year crude steel capacity located in North China’s Hebei province, intends to start installing new facilities at its existing works from early next year, an official from Hebei’s Ministry of Industry and Information Technology (MIIT) confirmed on November 1.
-
Resurgent stainless prices and steady demand for the high-grade steel this year saw Shanxi Taigang Stainless Steel Co (TISCO) post a sharp increase in net profits over this year’s first three quarters.
-
Chongqing Iron and Steel Co, a Shanghai- and Hong Kong-listed company headquartered in Southwest China’s Chongqing province, achieved a net profit of Yuan 1.48 billion ($212.4 million) during this year’s January-September period, decisively reversing the loss of Yuan 882 million it posted for the same nine-month period in 2017, according to the steelmaker’s Q3 report released on October 30.
-
Baoshan Iron and Steel Co, the Shanghai-listed arm of China Baowu Steel Group, posted a remarkable boost in its business performance during the first nine months of 2018, with its net profit gaining 34.96% on year to Yuan 15.7 billion ($2.26 billion), according to Baoshan’s Q3 report published on October 30. Responsible for the surge were rising steel production, better steel prices and stable market fundamentals, it said.
-
Changzhou Eastern Special Steel Co, a major special steel producer in East China’s Jiangsu province, is planning to build a new 1,820 cu m blast furnace and two 100-tonne converters to replace old facilities of a smaller size, two company officials confirmed on October 26.
-
Luoyuan Minguang Steel Co, a subsidiary of Fujian Sangang Group headquartered in South China’s Fujian province, has begun an expansion project on an 84-heactare block inside its existing works in Luoyuan County in Fujian, an official from Sangang Group confirmed on Thursday. Once the project is completed – expected in the first half of 2020 – it will take Luoyuan Minguang’s total crude steel capacity to about 3 million tonnes/year, Mysteel was told.
-
Shandong Iron & Steel Group Co (Shangang), a top steel mill in East China’s Shandong province, has decided to sell off the over 1 million tonnes/year iron and steelmaking capacity quotas from its Xinjiang subsidiary after having failed to secure an investor for the mill in Northwest China twice via public auctions.
-
Net profits generated by Jiangsu Shagang Co, the Shenzhen-listed arm of China’s largest privately-owned steelmaker, Jiangsu Shagang Group, during January to September this year reached nearly Yuan 1 billion ($145 million), up by 169% over the same period in 2017, according to the company’s third quarter financial report released on October 18.
-
A notice posted
on the Tianjin Property Rights Exchange on October 7 suggests that Sinosteel
Group Shenzhen Co, a subsidiary of state-owned steel trader- Sinosteel Group, is
severing its financial relationship with Liugang Zhongjin Stainless Steel Co, a
major producer of stainless steel in southern China.
The exchange
notice announced that Sinosteel Shenzhen intends to
-
Stainless steel producers in Taiwan have cut their
stainless prices, mainly for 200-and 300-series, by Yuan TWD 500-1,500/tonne
($16-48.5/t) for October sales amid lower nickel prices and at the same time
weak demand from both domestic and overseas markets, company officials
confirmed on October 9.
Yieh United Steel Corp (Yusco), a top stainless producer headquartered
in
-
Tsing
Tuo Group, a subsidiary of China’s top stainless producer - Tsingshan Holding
Group, has just commissioned a 300,000 tonnes/year high-speed stainless wire
rod rolling project after 11 months of construction in Ningde, South China’s
Fujian province, the company shared the news via its WeChat public account on
September 25.
The
company has not specified what grades
-
The local government of Xingtai City in North China’s Hebei province is beefing up efforts to reduce excesssteel capacity and accelerate the relocation of industrial enterprises from urban centres in response to provincial and central government pressure to improve air quality, market sources said.
In a post on its website earlier
-
Shanxi Taigang Stainless Steel Co (Tisco), one of China’s major stainless producers and headquartered in Taiyuan City in North China’s Shanxi province, plans to purchase a controlling 51% share of Linyi Xinhai New Materials Co (Xinhai), located in Linyi City in East China’s Shandong province, according to an official announcement
-
China’s four state-owned enterprises including three major steel mills including China Baowu Steel Group Co have set up an asset management joint venture expected to provide professional assistance in the country’s steel industrial consolidation and concentration via the means of acquiring, investing, or managing those heavily-indebted steel mills on the
-
Local authorities in Wuhu City in East China’s Anhui province have introduced emergency restrictions on the operative capacity of blast furnaces in use at local steelmakers, according to a September 5 document released by Wuhu City Environmental Protection Bureau seen by Mysteel.
-
More details have emerged about plans by Baowu Steel Group Corporation, China’s top steelmaker by capacity, to install a third blast furnace and converter at its Zhanjiang works in South China’s Guangdong province, Mysteel has learned. These were contained in an August 28 post released by Guangdong Economic and Information Commission announcing that the project is open for public review over August 28-September 27.
-
Fushun Special Steel Co, based on Northeast China’s Liaoning province, posted a net loss of Yuan 69.54 million ($10.2 million) for the first half of 2018, down by a huge 217% on year, according to the company’s semi-annual financial report.
-
Two major steelmakers in Anhui province in East China will be halting some upstream facilities for maintenance next month but the stoppages are not related to market chatter that the Anhui provincial government will order all steelmakers it supervises to cut operative capacities on their blast furnaces by 20-30% from October, Mysteel is told.
-
Releasing its list prices for September sales on Monday, Yieh United Steel Corp (Yusco), one of Taiwan’s largest integrated stainless makers and headquartered in Kaohsiung in Southwest Taiwan, will be cutting these by another TWD 500-1,000/tonne ($16.3-32.6/t) from August, a company official confirmed on September 3.
