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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.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, reported that its carbon steel sales totalled 783,743 tonnes in February, recording a decline of 14.2% or 129,707 tonnes from those in January, according to the company’s latest release on March 12.
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Lingyuan Iron and Steel Co, a major steel bar and wire rod producer in Northeast China’s Liaoning province, achieved its full-year production target in 2018, while operation revenue also far exceeded its goal thanks to the robust performance of steel prices, according to the company’s latest annual report. The mill’s net profits decreased slightly on year, however.
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Shenzhen-listed Jiangsu Shagang Co, the listed arm of China’s largest privately-owned steelmaker, saw its net profits soar by a sizzling 67% year on year to reach Yuan 1.18 billion ($176 million) last year, according to the mill’s annual report for 2018 released on Tuesday.
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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 lift its stainless prices for March sales, given the rise in input costs and the recovery in the global stainless market, a company official confirmed on Thursday.
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China’s largest steel producer China Baowu Steel Group mulls constructing its own overseas manufacturing site as part of the efforts in internationalizing its business and strengthening its capacity in operating international investments and management, according to a sharing on its official wechat account on February 21.
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Last month’s sales of carbon steel by China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, reversed up after declining over the previous two months to rise by 4.1% or 35,812 tonnes month on month to reach 913,450 tonnes, according to the company’s latest release on February 25.
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Fangda Special Steel Co, headquartered in Southeast China’s Jiangxi province, intends to keep steel production steady this year, aiming to produce 4.3 million tonnes of crude steel and 3.6 million tonnes of pig iron, according to the company’s annual report published last Friday. Finished steel output this year will also be 4.3 million tonnes.
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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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China’s production of crude stainless steel in January decreased by 7% on month to 1.95 million tonnes, as poor demand around the Chinese New Year holiday break led stainless mills to opt to shut for maintenance and overhauls, according to the findings of Mysteel’s latest monthly survey among 21 domestic stainless makers published on February 19. The 21 mills account for over 90% of China’s total stainless output.
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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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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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Stainless steel producers in Taiwan have raised their stainless list prices both for domestic sales and exports for February 2019 after cutting them successively over the past six months, Mysteel learned from the market on Tuesday. The makers chiefly pointed to the rebound in global nickel prices to explain their decision, saying the metal’s rise had boosted sentiment in Taiwan’s stainless market.
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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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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 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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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.
