-
The approval for Vale to resume its Serra Leste operations in Curionópolis, as part of its Northern System in North Brazil after the long suspension since January 2019, may add 4-5 million tonnes of iron ore output to Vale’s 2021 total production, according to a company release on November 27 (Brazilian time).
-
Japan’s H2 grade scrap prices for both domestic sales and exports rose for the fifth week over November 23-27, up another Yen 500-1,000/tonne ($5-10/t), as the slowdown in deliveries from seller on the anticipation of further price rises had prompted buyers to pay more for supplies, scrap traders in Tokyo shared.
-
Nippon Steel Engineering, the engineering arm of Japan’s largest steel producer, has received an order from Taiwan’s China Steel Corp to supply a large Coke Dry Quenching (CDQ) plant, NSE announced on November 26.
-
Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, has raised its steel scrap procurement price by Yuan 50/tonne ($7.6/t) effective November 26, according to company release, which has indicated the remaining firm demand from the Chinese steel mills while the limited supply in winter.
-
China Baowu Steel Group (Baowu), China’s and also the world’s top steel producer in capacity, has been taking no break in its expansion in capacity and inner strength enhancement at the same time, with the latest move to solidify its footing in Northwest China via acquiring existing steel mill and iron ore mines, Mysteel Global noted.
-
Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace located in the Kimitsu Area of its East Nippon Works in Chiba prefecture, near Tokyo, to respond to improving steel demand from consumers, especially auto makers.
-
Indian iron ore prices increased further this week. National Mineral Development Corporation (NMDC) has announced 2nd price hike iron ore for the month. Odisha's Essel Mining and Rungta Mines made another upward price revision. Bid prices in recently conducted Karnataka iron ore e-auction witnessed an increase over the set base price.
-
Canada-based Teck Resources expects to increase its metallurgical coal sales to China for the current October-December quarter due to the country’s rising demand, with higher pricing levels compared to markets outside China, according to the company’s “Coal Market Update” published on November 23.
-
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.
-
Indian steel major - JSW Steel has sourced 1.19 mn t iron ore in Oct'20 from merchant market. The sourcing dropped by 18% as against 1.45 mn t in Sep'20. Company's captive iron ore production (Odisha and Karnataka) stood at 1.89 mn t & 1.73 mnt respectively in Oct & Sept'20. Thus with increasing captive production, the steel maker has lowered sourcing from merchant market.
-
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.
-
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.
-
Over November 9-13, Japan’s H2-grade steel scrap prices rose for the third week for domestic sales, up another Yen 500-1,000/tonne ($5-10/t) on week, and new orders from overseas also grew by Yen 2,000/t on week, in response to the higher monthly bidding prices for December deliveries, scrap traders in Tokyo shared.
-
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.
-
China State Railway Group (China Railway), the national railway system operator, has kicked off a 60-day ‘work plan’ over November-December to secure steady supplies of coal nationwide to ensure smooth economic development and to support adequate household heating during winter. Meanwhile, the group has pledged to keep the volume of coal loaded daily into wagons at the state railway systems to above 72,000 wagons/day, according to its November 12 release.
-
Port Hedland, the top iron ore terminal in Western Australia, exported around 39.7 million tonnes of iron ore to China in October, representing just a 0.1% on-month dip and being still 10.5% higher on year, according to the latest statistics from the Pilbara Ports Authority (PPA).
-
After nearly a three-month hiatus Tokyo Steel Manufacturing, Japan’s leading electric arc furnace mill, has lifted steel scrap buying prices at its Utsunomiya works, north of Tokyo, raising these by Yen 500/tonne ($5/t) for all grades effective from November 12 arrivals. The increase, the mini-mill’s first at the works since August 25, took its H2 buying price at Utsunomiya to Yen 26,500/t, according to the price list on its website.
-
China’s Beijing Jianlong Heavy Industry Group Co (Jianlong Group) is on the way to add a 15 million tonnes/year iron ore mining and processing capacity by developing the country’s largest single underground mining operation - Sishanling project in Benxi, Northeast China’s Liaoning province, and the first-stage 7.5 million t/y is expected to commission by November 2022, a company official confirmed.
-
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.
-
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
