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Tsingshan Group (Tsingshan), the world’s leading stainless steel producer headquartered in East China’s Zhejiang province, is planning to establish a new 4 million tonnes/year stainless steel project in Yangjiang city in South China’s Guangdong province, in partnership with a state-owned investment company Guangdong Guangxin Holdings Group Co (Guangxin), the steelmaker has announced.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has decided to lift September-November list prices of 300-series wire rod (October-December roll) to reflect higher nickel prices, the company confirmed on September 24. The increase for 304 grade rods will be Yen 20,000/tonne ($190/t) though NSSC is making no changes to its 400-series prices.
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Mergers and acquisitions since 2016 have grown China’s Baowu Steel Group (Baowu) into the world’s top steel producer as well as hitting its ambitious target of a 100 million tonnes/year steelmaking capacity one year ahead of schedule, and M&As will be a main theme in the company’s next five-year development, Chen Derong, the company chairman, sent a clear message.
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A large integrated steel works project in Malaysia being promoted by Hebei Xinwu’an Iron & Steel Group (Xinwu’an Steel), a steel producer based in North China’s Hebei province, has just received approval from Malaysia’s Ministry of International Trade and Industry, according to a recent release from China’s Ministry of Commerce (MoC). Construction on the 10 million tonnes/year works project is about to start, the MoC release said.
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Kobe Steel, Japan’s third largest integrated steelmaker, has decided to lift its wire rod and bar prices for the first time since June 2019, raising both the prices by Yen 10,000/tonne ($95/t) for October deliveries to both its domestic and overseas customers, as input costs have been rising, a company official confirmed on September 16.
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Baoshan Iron & Steel Co (Baoshan Steel), the listed arm of China Baowu Steel Group, is raising its October list prices of carbon steel hot-rolled coil (HRC) for domestic sales by Yuan 50/tonne ($7.3/t), the company’s pricing policy released on September 10 showed.
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The company reported an increase in crude steel production volume by 6% and improvement in capacity utilization rate from the previous month.
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If market conditions improve further then Rashtriya Ispat Nigam Limited (RINL) could be restarting its third blast furnace (BF) by next month, which could take the average liquid steel production at this PSU to around 20,000 tonnes per day (tpd), a source informed SteelMint. “If market conditions demand, the third furnace may be restarted in the coming months. Not sure but, may be, it could restart from next month,” the source said.
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Yieh United Steel Corp (Yusco), Taiwan’s largest stainless producer headquartered in Kaohsiung in South Taiwan, has decided to lift its list prices for both 300-series and 400-series stainless for sales this month to help offset higher production costs, a company official confirmed on Tuesday.
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The powerful typhoon Haishen hit Kyushu, southern island of Japan on late September 6, forcing the local steel mills to halt steel production temporarily out of safety concerns amid torrential rains and strong winds, steel mill sources confirmed on Monday.
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Nippon Steel, Japan’s largest integrated mill, have been mulling the restart of two idled blast furnaces in the second half of fiscal 2020 (October 2020-March 2021) on noting the steady improvement in steel demand from the country’s auto sector, a Nippon Steel official confirmed on September 4.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, will raise its September list prices of 300-series cold-rolled coils (CRCs) and plates for domestic sales to distributors by Yen 10,000/tonne ($94/t) to reflect higher nickel prices, the company confirmed on September 4.
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Over the last month, the major ASEAN economies have announced their Q2 2020 macroeconomics results. As expected, Q2 GDP figures are down for all countries (Table 1) as compared to Q1 2020 (Table 2). However, there are a few interesting areas to note.
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Vietnam’s Hoa Phat Group plans to commission the No.4 blast furnace at its Hoa Phat Dung Quat Iron & Steel Integrated Complex (Dung Quat Steel) in Central Vietnam in early 2021, Hoa Phat announced in an August 31 media release. Once the furnace is operating stably, the group’s total crude steel output will reach 8 million tonnes/year, making Hoa Phat the largest steel producer in Vietnam, it said.
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Japan's auto sales in August dropped by 16% on year, new industry data shows, as consumer confidence continued to languish in response to the coronavirus contagion. Nevertheless, last month’s result was not all bad, and sales this month are expected to show some improvement, doubtless to the relief of the country’s carbon and special steel producers, Mysteel Global notes.
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Nippon Steel, Japan’s largest integrated mill, has reignited the halted blast furnace with an inner volume of 2,650 cu meters on August 20 at its Kure area of Setouchi Works in western Japan after a halt over August 14-19, and its steel production has not been affected much, a company official confirmed on August 28.
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Despite being impacted by the COVID-19 contagion, steel production at Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, was stable during the first half of this year, according to its interim report published on August 28. However, the company’s profits slumped 37% on year due to slow demand amid the virus outbreak, and softening steel prices against high iron ore prices, it said.
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The Mines Ministry has invited comments from the public on a series of structural reforms it proposes under Atmanirbhar Bharat to enhance private investments and generates employment in the mineral sector.
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Sajjan Jindal led JSW Steel would start work shortly on the 13.2 million tonne mega greenfield steel facility proposed near Paradip, originally the site chosen for Posco’s $12 billion steel plant in Odisha.
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Toyota Motor, Japan’s largest automaker, has informed its auto parts suppliers that it plans to maintain its daily output at about 13,000 units/day over September-November at its domestic plants, or roughly back to the pre-pandemic level, industry sources in Nagoya, central Japan and Tokyo shared on August 25.
