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Fangda Special Steel Technology Co in East China’s Jiangxi province, one of China’s most profitable steel mills in 2018, saw its crude steel output down 5.7% on year in H1, as its NO. 2 blast furnace has been suspended since an explosion in late May, a company official confirmed on August 16.
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Chongqing Iron & Steel Co (Chonggang) in Southwest China’s Chongqing municipality, continued with its revival after the ownership restructuring in November 2017, posting its H1 steel output at a record high of 3.3 million tonnes, according to its latest interim report.
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Lu’an Steel Holding (Lu’an Steel), in Lu’an city in East China’s Anhui province, expects to complete its new 3 million tonnes/year steel plant by the end of this October, company officials disclosed on Friday.
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Vale, the world’s top iron ore miner headquartered in Brazil informed the public on August 15 local time to temporarily halt the operations of the Viga concentration plant of its newly-acquired Ferrous Resources do Brasil in Minas Gerais, South Brazil, due to permit issues.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, is proposing to release its steel list prices on a monthly basis from 2020 rather than quarterly as now, to assist in enhancing the competitiveness of its downstream customers, it says.
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Shandong province in East China is still dealing with the damage after the Typhoon Lekima slammed the region on August 11-12, and industrial enterprises such as nonferrous smelters and steel mills have their operations affected, Mysteel Global understood from the local companies on Wednesday.
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China’s graphite electrode market remained weak over the past month, mainly due to sluggish demand and the rise in electrode supplies, market sources confirmed Wednesday.
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Jiangsu Shagang Group (Shagang), China’s largest electric arc furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, axed its steel scrap procurement price on August 13, the fourth time so far this month or merely three days from the previous cuts by another Yuan 50/tonne ($7.1/t).
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Jiangsu Shagang Group (Shagang), China’s largest electric arc furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, cut its steel scrap procurement price by another Yuan 50/tonne ($7.1/t) for deliveries effective August 10, just two days after the mill had reduced buying prices by the same amount.
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Sichuan Dazhou Iron & Steel Group Co (Dazhou Steel), a 3.2 million tonnes/year steelmaker in Southwest China’s Sichuan province, has finalized details of its relocation and upgrading plan, according to an announcement from the Dazhou Municipal Bureau of Economic and Information Technology posted earlier this week.
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The agreement between Hebei Iron & Steel Group, China’s second largest steel producer based in North China’s Hebei province, and India’s Tata Steel, for HBIS to acquire a 70% stake in the latter’s steel business in Southeast Asia has been cancelled as HBIS had failed to obtain the necessary approvals for the deal from the Hebei provincial government, a HBIS official confirmed on August 7.
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We’re more than half way through 2019 and here's a review of how the Chinese steel market has been faring so far, and what is expected of the world's largest iron ore consuming and steelmaking country for the rest of this year.
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The world’s top iron ore miner, Vale, saw its iron ore fines cash cost for the April-July quarter rise by another $3.6/tonne on quarter amid some temporary incidental issues during the period. Thus, Vale expects that for the current quarter ending September, its iron ore fines cash cost will reverse down by $2.5/t, it said in its latest quarterly financial report published on July 31.
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Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of Baowu Steel Group (Baowu), China’s top steelmaker, has decided to establish a new company to be based in coastal Yancheng city in East China’s Jiangsu province, to facilitate the building of its 20 million tonnes/year greenfield steelworks there, the company announced on July 30.
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Beijing Shougang Co (Shougang), the Shenzhen-listed arm of leading steel producer Shougang Group, produced 8.3 million tonnes of crude steel in the first half of 2019, up 10.9% on year, according to the semi-annual report of the listed company published late this month.
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Not only relocating its steel mills to its coastal areas, East China’s Shandong provincial government seems also progressing well with integrating all its major ports including Qingdao Port, Rizhao Port, under its planned new entity of Shandong Port Group for higher efficiency and asset optimization, according to releases from both Qingdao Port and Rizhao Port on July 31.
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Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in Zhangjiagang, East China’s Jiangsu province, has decided to lift its steel scrap procurement price by Yuan 20-50/tonne ($3-7/t) for deliveries effective from July 30, the company said in an announcement the same day.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, announced on July 29 that its carbon steel sales for the first half of 2019 slipped by 7.4% on year to 5.1 million tonnes, as demand from downstream users shrank significantly compared with H1 last year, according to a company official.
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Ningbo Iron & Steel Co (NISC), the only steel subsidiary of Hangzhou Iron & Steel Group (Hanggang) in East China’s Zhejiang province, ignited its new No.1 2,500 cu m blast furnace on July 25 after over 19 months of construction, a company official confirmed on July 26.
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The world’s top four iron ore miners of Vale, Rio Tinto, BHP, and the Fortescue Metals Group (FMG), all posted quarter-on-quarter recovery in iron ore shipments the April-June quarter, gradually combating the affection of Tropical Cyclone Veronica in Western Australia around March-April and the tailings dam collapse in late January in Southeast Brazil.
