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Tata Steel sales have hit a record high at 17.31 mn t in FY ’21 on the back of strong recovery in demand from end-users in H2. The volumes are up by 2% in comparison with 16.97 mn t in the previous fiscal, SteelMint learned from the recent press release in BSE filing. However, the same remained largely stable at 4.67 mn t in Q4 FY ’21 compared with 4.65 mn t in Q3.
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Global automobile production by Japan’s eight major automakers during the fiscal 2020 (April 2020-March 2021) fell to a nine-year low, or recording a 12.2% on-year decline to about 23.12 million units, according to the latest data released by the automakers, though the on-year decline was not as steep as the market had expected.
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As the demand for liquid medical oxygen (LMO) mounts in the battle against the devastating second wave of Covid-19, court orders, circulars from district collectors and verbal urgings from state officials are seeking augmentation of supply of this life-saving gas from the iron and steel industry. The ways and means include diversion of industrial oxygen to hospitals as LMO, mill closures and production curbs on secondary sector mills and hand-over of empty cylinders for O2 refills.
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Pohang Iron and Steel Co. Ltd. (POSCO), a major steel producer in South Korea, reported its Q1 CY ’21 results today. Steel production and sales have increased y-o-y with an improvement in operating capacity during Q1 CY ’21.
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Baoshan Iron & Steel Co (Baosteel), the Shanghai-listed arm of China Baowu Steel Group, saw its net profits for Q1 skyrocket 247.8% on year to Yuan 5.4 billion ($832.1 million), reflecting overall strengthening steel demand and lower costs, according to the company’s latest quarterly report on April 27.
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Japan’s steel value chain including steel producers and end-users expects little impact of the third state of emergency on their operations, even though the latest partial lockdown will be running over April 25-May 11, affecting Tokyo, Osaka, and Kyoto and Hyogo in western Japan.
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On April 25 2021, Shanghai Ganglian E-Commerce Co., Ltd. (Mysteel) completed the annual assurance review in accordance with the requirements of the International Organization of Securities Commission (IOSCO), or the third year in a row. Starting 2021, a series of coking coal and coke pricing indices have also joined Mysteel’s related steel and iron ore pricing indices, being IOSCO compliant.
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Taking a big step towards shifting to digital trade transactions, steel major Tata Steel Ltd. has executed a blockchain-enabled, paperless trade transaction of export of steel to Universal Tube & Plastic Industries, UAE.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has decided to roll over the list prices of its major long steel products for April 21-30, after having raised the prices by a total of Yuan 300-400/tonne ($46.1-61.5/t) over April 1-20.
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Carbon steel sales during this year’s January-March quarter at China Steel Corp (CSC), Taiwan’s top integrated steel producer, declined by 8.7% on year. Nevertheless, the company performed extremely well in terms of pre-tax profits, mainly thanks to the continuous growth in steel sales prices, a company official confirmed on Monday.
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China Steel Corp (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, is raising its monthly list prices for finished steel by 8.1% on average in response to robust demand both at home and abroad, the steelmaker announced on April 15.
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Laoting Steel, a steelmaker under the umbrella of Hebei Iron & Steel Group (HBIS), this week commissioned the No.3 blast furnace at its new works in Laoting county in North China’s Tangshan city, meaning that all three of the steelworks’ 2,922 cu m blast furnaces are operation, a HBIS official confirmed on April 15.
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Japanese steelmaker and plant builder Kobe Steel has announced the first successful charge of Hot Direct Reduced Iron (HDRI) produced by a new DRI plant constructed in Algeria and supplied by Midrex Technologies, Inc. Kobe’s wholly owned subsidiary in the US, with its consortium partner Paul Wurth S.A based in Luxembourg.
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Shagang Group, China’s largest privately-owned steel producer based in East China’s Jiangsu province, is raising list prices of all its major long steel products by another Yuan 200/tonne ($30.5/t) for sales over April 11-20, on top of Yuan 100-200/t increase for early April, according to its latest pricing policy announced on April 10.
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Shougang Group, a tier-one steel mill in China, expects its Shenzhen-listed arm to achieve a 405-457% on-year surge in the net profit in the first quarter, mainly as its two steel plants in Tangshan, North China’s Hebei, have both been exempt from the ongoing restrictions with their “exceptional efforts in pollution control”, a Beijing-based source close to the steel mill shared last Friday.
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Major Indian private steel manufacturer-JSW’s production volumes of crude steel, flat-rolled, and long-rolled products tumbled in FY ’21.SteelMint learned from the company’s recent press release.
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China’s ferrous community seems to be in a booming period, as on top of the domestic steel price surges since late March, stocks of both Angang Steel Co and Bengang Steel Plates Co, the Shenzhen-listed arms of the top two steel mills in Northeast China, surged 5.3% and 10% on day on April 7.
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Tata steel, in its Indian operations, has recorded a decline in crude steel output due to the disruption caused by the COVID-19 pandemic in 1H FY ’21. However, steel deliveries reported an increase in FY ’21.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has decided not to change its April prices of the 300-series cold-rolled coils (CRCs) and plates to its domestic sales distributors, though the stainless prices have shown an uptrend, a company official shared on April 8.
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JFE Steel, Japan’s second largest integrated mill and No.2 stainless producer, has decided to raise its prices of 400-series stainless flats by Yen 25,000/tonne ($228/t) for April bookings by the domestic buyers for spot and non-formula-based long-term deals to reflect higher production costs, according to a company official on Wednesday.
