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Shandong Iron & Steel Group (Shangang) in East China’s Shandong province, had to modestly trim its greenfield specialty steel capcity in Linyi, a coastal city of Shandong on failing to acquire enough old capacity quotas to fulfil the original 6 million tonnes/year plan, according to a government notice.
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China’s steel scrap market has witnessed a price recovery beginning last Monday, thanks chiefly to reduced availability. As of June 26, Mysteel’s spot market transaction price for 6-8mm common-carbon steel scrap in Zhangjiagang city, East China’s Jiangsu province, had jumped by Yuan 30/tonne ($4.3/t) on week to settle at Yuan 2,380/t excluding the 13% VAT.
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Kunming Iron & Steel Group Co (Kungang), a state-owned steel company in Southwest China’s Yunnan province, is mulling on the possibility of investing in a 4 million tonnes/year greenfield integrated steelworks in Myanmar, Kungang officials confirmed on Wednesday.
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Australian iron ore miner Fortescue Metals Group (FMG) has reduced the size of the discount it offers to long-term contract buyers of its lower-grade iron ore products for July supplies, Chinese market sources confirmed on Tuesday.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw its pre-tax profit for May slump by 23% from April to reach TWD 1.7 billion ($55.1 million), according to a company release on June 24.
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Alliance Steel (M) Sdn. Bhd, a China-invested steel company in Kuantan in East Malaysia, hosted a completion ceremony on June 15 to formally signal the end of construction on the first phase of its integrated steelworks project that will produce mainly rebars, wire rods and H-beams.
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Rio Tinto, the world’s second largest iron ore producer, announced on the evening of June 19 to further cut 13 million tonnes off its shipment guidance from its primary operations in Pilbara, Western Australia.
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In a move that took market watchers by surprise, Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, raised its steel scrap procurement price by Yuan 50/tonne ($7.2/t) for deliveries starting June 18. The mill made its intention known to dealers and agents late on Monday, Mysteel Global understands.
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JFE Steel will remain committed to its presence in the ASEAN countries, acting either as an “insider” or an “investor” in the region’s steel industry, depending on the opportunities, Yoshiyuki Nobusa, senior vice president of JFE Steel, shared at the 2019 SEAISI Conference and & Exhibition on June 17, in Bangkok, Thailand.
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Formosa Ha Tinh Steel Corporation (FHS) in north central Vietnam's Ha Tinh province aims to increase its finished steel output to around 6-6.5 million tonnes for 2019, FHS vice president Lin Yao-Kang shared at the 2019 SEAISI Conference & Exhibition in Bangkok, Thailand on June 17.
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Domestic prices of graphite electrodes across China showed signs of stabilizing over the past week, mainly due to tight market supply, with Mysteel’s benchmark price for 600mm ultra-high-power (UHP) grade electrodes in East China’s Jiangsu province unchanged on week at Yuan 51,500/tonne ($7,464/t) including the 13% VAT as of June 13. East and South China are where most of the country’s electric arc furnaces (EAFs) are located.
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China Baowu Steel Group Co, China’s top steel producer headquartered in Shanghai, has started building a 1.7 million tonnes/year cold rolling mill at its integrated Zhanjiang works in South China’s Guangdong province, a company official confirmed on Thursday.
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Two miners were killed by a gas explosion at an underground coal mine operated by Dongsheng Yangsheng Coal Mining in Yangquan city in North China’s Shanxi on June 3, according to a report by the government-backed Yangquan Daily on Monday and cited by Yangquan city government on June 4. This was the second gas accident at this mine so far this year.
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China Baowu Steel Group (Baowu), China’s largest steel producer, has been granted the controlling 51% stake in Magang (Group) Holding (Magang) free of charge, which will help with China’s steel industrial concentration drive and enable Baowu to catch up with ArcelorMittal, the world’s top steel mill, in capacity, Chinese market sources commented on Monday.
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The No.2 blast furnace belonging to Fangda Special Steel Technology Co in East China’s Jiangxi province exploded at around 16:30 on Wednesday, a company official confirmed late Wednesday afternoon.
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The stated-owned Shandong Iron & Steel Group (Shangang) in East China’s Shandong province has proceeded with the second-stage development planning at its new Rizhao integrated steelworks in the coastal area of Shandong to expand the ultimate capacity to around 19 million tonnes/year, a Shangang official disclosed on Wednesday.
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The No.2 blast furnace belonging to Fangda Special Steel Technology Co in East China’s Jiangxi province exploded at around 16:30 on Wednesday, a company official confirmed late Wednesday afternoon.
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Fujian Dingsheng Iron & Steel, a newly established privately-owned steel producer in South China’s Fujian province, plans to commission two electric-arc-furnaces – the core of its ambitious high-end flat products project – by February 2020, the company has confirmed.
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The world’s top iron ore miner Vale reported lower risk of break at its Sul Superior dam as a consequence of the movement on the northern slope of a pit at the nearby Gongo Soco mine in Minas Geraus, Southeast Brazil, according to its latest statement on May 28.
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The US coal miner Peabody Energy has been progressing with the large-scale resumption of metallurgical coal production at its North Goonyella mine in Queensland, Northeast Australia, in 2020, by having the restarted ventilation at the first segment of the mine recently.
