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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has raised its long steel ex-work prices for the third pricing term over November 21-30, with rebar up another Yuan 50/tonne ($9.1/t) and wire rod and high-speed coil prices up more substantially by Yuan 200/t from the levels over November 11-20.
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Japan’s all kinds of steel exports for October fell 13% on year to about 2.47 million tonnes, or the sixth consecutive month posting an on-year decline, mainly as the Japanese integrated mills had been prioritizing supplies to domestic customers, Mysteel Global understood from the preliminary data released by Japan’s Ministry of Finance on November 18.
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Indian steel major – Tata Steel (TSL) has recently announced its Q2 FY’21 results. In the Q2 FY 21 investor’s call, TSL reported its standalone domestic sales volumes rose 22% y-o-y to 5.05 mn t—it’s highest-ever quarterly figures. Improved realisation, lower coal prices and relatively fewer exports helped Tata Steel improve its operational profit.
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China Steel Corporation (CSC), Taiwan’s top steelmaker saw its carbon steel sales up further on month for the second month by October and at a faster rate of 9.5% on month to 889,930 tonnes, and the ratio in exports also shot up to 41% of the total, according to the company release on November 16.
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Nippon Steel, Japan’s largest integrated mill, expects to sell only about 620,000 tonnes of carbon and special steel seamless pipes during the current fiscal (April 2020-March 2021), down 36.1% on year, as the COVID-19 pandemic has brought oil and gas development projects in many countries to a halt.
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Indian govt owned SAIL (Steel Authority of India Limited) has recently announced its financial and operational results for Q2 FY ‘21. Major key takeaways of its investor conference call are mentioned below.
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China Baowu Steel Group, the top steel mill in China and almost matching ArcelorMittal globally in production capacity, has passed the final hurdle towards getting a 51% stake in Taiyuan Iron & Steel Group (TISCO), with the final approval of the related authorities, and this will also enable it to soon pass the targeted 100 million tonnes/year installed capacity one year in advance, Mysteel Global understands
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JFE Steel, Japan’s second largest integrated mill, will start relining the No.6 blast furnace at the Chiba area of its East Japan Works much sooner than the mill had initially scheduled, saying that by starting the work early it can start cutting production costs sooner, JFE announced on November 9.
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Nippon Steel, Japan’s largest integrated mill, plans to lift the capacity utilization of its steelmaking to 80% over the second half (October 2020 – March 2021) of the fiscal 2020, from the 60-70% in the first half in response to better domestic demand mainly from the auto sector, the company announced on November 6.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, is again raising list prices of 300-series cold-rolled coils (CRCs) and plates for domestic sales to distributors, this time by Yen 5,000/tonne ($48/t) for November orders, a sales official from the company confirmed on November 6. The adjustment is its fifth since June and again, it is blaming higher nickel prices.
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Kobe Steel, Japan’s third largest integrated mill, adjusted upward its crude steel output target for fiscal 2020 (April 2020 - March 2021) by 4.6% or 250,000 tonnes from the projection in August to 5.65 million tonnes on the anticipation of better demand from the domestic auto sector and related customers for the rest of the FY20.
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Major stainless producers in Taiwan have decided to raise their stainless list prices both for local and overseas sales in November, Mysteel Global has learned, to cover their higher production costs from stronger raw materials prices.
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Shagang Group, China’s largest rebar producer, has raised its rebar ex-works price by Yuan 50/tonne ($7.5/t) for sales over November 1-10, or the first time after having rolled over the prices since August 11-20 to reflect the uptick in China’s spot rebar prices and better sentiment in the domestic steel market, Mysteel Global noted.
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Production at the domestic and overseas plants operated by Japan’s eight major automakers rose by 1.5% on year in September to some 2.39 million units, making for the auto companies’ first on-year monthly increase since July 2019. Last month’s output was also higher by a sizzling 29.5% from August, according to Mysteel Global calculations based on their individual releases published on October 29. Market sources in Tokyo suggested active automobile demand in China helped the Japanese automakers to lift their output.
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Crude steel production during the July-September quarter at South Korean steel giant Posco came very close to equalling the company’s Q3 2019 result, thanks to the restart of a revamped blast furnace early in the quarter, according to the company’s finance report released on October 23.
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Dealer prices of austenitic or 300-series stainless cold-rolled sheet across Japan are expected to start rising soon as dealers pass along price increases recently tabled by producers. Market sources in Tokyo and Osaka said distributors are eyeing lifting prices by as much as Yen 10,000/t by end-October.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has decided to roll over its rebar prices for the eighth sales period in a row over October 21-31, though it has raised the prices of both wire rod and bar-in-coil by Yuan 50/tonne ($7.5/t) due to the limited availability, Mysteel Global understands from a Shagang official.
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TATA Steel's India operations have recorded a best-ever sales volume at 5.05 mn t in Q2 FY ’21 as per the recent press release on BSE. The company ramped up its steelmaking and downstream operations back to pre-COVID level, with all major sites operating at around full capacity utilization.
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Baoshan Iron & Steel Co (Baoshan Steel), the listed arm of China Baowu Steel Group, is lowering its list prices for carbon steel hot-rolled coil (HRC) for domestic sales in November by Yuan 100/tonne ($14.9/t), according to the company’s pricing policy announced on October 9.
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Shagang Group, China’s largest long steel producer in East China’s Jiangsu province, have decided to remain its ex-work prices of all the major long steel products unchanged for the seventh sales period in a row over October 11-20, according to the company’s latest pricing policy released on October 11.
