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Japan’s eight major automakers posted a 4.5% on-year drop in January output at both the domestic and overseas plants to about 2.11 million units, according to the data released by automakers until February 26, and the decline was not about auto demand but the worldwide shortage of semi-conductors, according to market sources.
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Shagang Group (Shagang), China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, is raising list prices of rebar by Yuan 150/tonne ($23.2/t) for sales over March 1-10, the company announced March 1, after keeping its prices unchanged since January 11.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 100/tonne ($15.5/t) effective from February 26, according tyo a brief announcement from the mill late Thursday.
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China Baowu Steel Group (Baowu), the world’s and the country’s top steel producer, has been the first in China’s steel industry to pledge realizing carbon neutral by 2050, or ten years ahead of China’s targeted timeline as a country, Chen Derong, Baowu’s chairman, disclosed in an interview with China’s media.
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Australia’s Fortescue Metals Group (FMG), the world’s fourth largest iron ore miner, has decided to delay starting production at its 22 million tonnes/year Iron Bridge Magnetite Project in Western Australia’s Pilbara region until the second half of Calendar 2022, according to a company statement released on February 18.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker and located in East China’s Jiangsu province, has shown no inclination it aims to adjust its steel scrap procurement prices anytime soon, though many other domestic EAF and blast furnace (BF) steelmakers have already raised their buying prices after Chinese New Year (CNY) holiday ended on February 18.
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Shagang Group, China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, will continue to roll over its list prices of long steel products for sales over February 21-28, it announced on February 21. Industry watchers were surprised given that the domestic steel market is in a strong mood for price increases.
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Japan’s domestically-generated H2 grade scrap prices stayed on the uptrend over February 15-19, up another Yen 2,000-3,000/tonne ($19-28/t) on week for domestic sales, and exports prices have caught up with the pace too, up Yen 5,500-6,500/t from end of January, as scrap sellers have been slowing down their deliveries awaiting further price rises, scrap traders in Tokyo shared on February 22.
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Beijing Jianlong Heavy Industry Group (Jianlong), a privately-owned steel conglomerate headquartered in Beijing experienced in acquisition and restructuring, is tipped to acquire Xingtai Iron & Steel (Xingtai Steel), a leading specialty longs maker based in Xingtai city in North China’s Hebei province, Mysteel Global has learned.
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Japan’s largest integrated mill – Nippon Steel – denied a news report by Nihon Keizai Shimbun (Nikkei), Japan’s business daily, that it has decided to suspend a blast furnace at its Kashima Area of East Nippon Works near Tokyo for a few years, though the domestic steel market sources see the likelihood.
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Canada-based Teck Resources sold 6.1 million tonnes of coal for steelmaking over October-December 2020, down 6.3 million tonnes on year but swelling by 18% on quarter, thanks to the higher demand particularly from China, according to the company’s quarterly report released on February 18.
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PT Gunung Raja Paksi Tbk (GRP), one of the largest privately-owned steel mills in Indonesia, plans to commission its first-ever 580 cu m blast furnace in the second quarter of this year if the construction work progresses according to plan, a company official shared on February 17.
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China Steel Corp (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, says that its carbon steel sales grew by 7.7% on year to reach 874,804 tonnes in January, according to the company’s latest release on February 17.
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Japan’s domestically-generated ferrous scrap prices in Kanto area around Tokyo have gained for the second week by February 17, up another Yen 2,000-5,000/tonne ($19-47/t) on week on the support of higher monthly scrap tender prices in the second week of February, market sources shared on Wednesday.
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Iron ore exports to China from Port Hedland, the top iron ore terminal in Western Australia, increased by 1.6 million tonnes or 4.6% year-on-year in January to 35.6 million tonnes, according to the latest statistics from the Pilbara Ports Authority (PPA). Nonetheless, last month’s tonnage was still lower by a hefty 4.4 million tonnes or 11% from last December, the data also showed.
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Just as expected, Japan’s domestically-generated H2 grade scrap prices had recovered by Yen 3,000-5,000/tonne ($29-48/t) for domestic sales over February 1-5 after three weeks of declines by a total of Yen 13,500-14,500/t, though exports prices had stayed unchanged, market sources shared on February 9.
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PT. Dexin Steel Indonesia (Dexin Steel), a Chinese-invested greenfield steelworks in Indonesia’s Morowali Industrial Park (IMIP) in Central Sulawesi province last week blew in the second of a pair of 1,780 cu m blast furnaces, completing the commissioning of both production lines in the mill’s first-phase project, according to a company post on February 4.
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Nippon Steel Engineering, the engineering arm of Japan’s largest steel producer, has received an order from South Korea’s Posco to supply a Coke Dry Quenching (CDQ) unit, NSE announced on February 8. The CDQ order is the tenth NSE has received from Posco, the company said.
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Nippon Steel, Japan’s largest integrated mill, now expects to be able to post a pre-tax profit of Yen 30 billion ($284.6 million) on a consolidated basis for fiscal 2020 (April 2020-March 2021), reversing its earlier projection of a Yen 60 billion pre-tax loss, the company announced on February 5.
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On February 3, Vale reached an agreement with authorities in the state of Minas Gerais of Southeast Brazil to repair the environmental and social damage resulting from the dam collapse in Brumadinho in January 2019 with 270 casualties and pay out R$37.7 billion reais ($6.9 billion) as compensation.
