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Shagang Group, China’s largest private steel producer in East China’s Jiangsu province, has revised its steelmaking facility upgrading plan by adding a 90-tonne electrical arc furnace (EAF) to be scrapped in exchange for a 130-t EAF in the latest notice for public review over December 12-18, an official from the Industry and Information Technology Department of Jiangsu (Jiangsu IITD) confirmed on Thursday.
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Karnataka iron ore e-auction sales volume down for the month and registered a decline of 7% in Nov’19. Total iron ore allotted quantity was recorded at 2.62 MnT in Nov’19 compared to 2.82 MnT in Oct’19. On yearly basis, Karnataka e-auction sales also down by 5% in Nov’19 as compared to 2.79 MnT in Nov’18.
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Diversified miner Anglo American plc has shaved its output forecast for iron ore for the coming three years, according to its latest update to investors on December 10.
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Shagang Group, China’s largest private steel producer based in East China’s Jiangsu province, will roll over its rebar list price for sales over December 11-20, the mill announced on Wednesday. The steelmaker wants to firmly support the price, despite the recent weakness in the domestic market, a Shagang official explained to Mysteel Global.
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Global ferrous scrap market observed an upwards trend in all the major markets this week. Turkey booked a few cargoes at sharply increased prices, and the uptrend in offers reflected in South Asian Markets too, however buying remained slow. Japanese Tokyo Steel observed two price hikes for its scrap purchase bids this week, while China’s Shagang Steel kept its bids unchanged.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in Zhangjiagang city in East China’s Jiangsu province, lowered its steel scrap procurement price by Yuan 30/tonne ($4.3/t) for all grades effective from December 8 deliveries, the company announced on the same day.
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According to data maintained with SteelMint, Indian pellet export volumes in Nov'19 recorded at 1.17 MnT, up 33% on a monthly basis as against 0.89 MnT a month ago. However, on yearly basis, pellet exports increased by 13% as compared to 1.04 MnT in Nov’18.
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Hebei Jinxi Iron & Steel Group (Jinxi), China’s leading section steel producer headquartered in Beijing, has secured another 1.35 million tonnes/year steel capacity for its final location to the Fangchenggang city, Southwest China’s Guangxi with a 10 million t/y greenfield steelworks, a company official confirmed on December 5.
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Indian iron ore exports have recorded sharp increase in Nov '19. The exports witnessed at 2.29 MnT, up 32% M-o-M as against Oct’19 exports at 1.74 MnT. On yearly basis, the exports have depicted a significant rise as compared to Nov’18 exports at 0.83 MnT.
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Rizhao Steel Holding Group Co, a privately-owned steel producer in East China’s Shandong province, will add on 5 million tonnes/year ironmaking capacity via building two 3,000 cu m blast furnaces, a company official confirmed on December 4.
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BHP’s hopes of shipping the first ore from its South Flank project in Pilbara, Western Australia by 2021 are closer to being realised, with thyssenkrupp Industrial Solutions saying it is delivering two large rail mounted stackers and a reclaimer for the project, according to the announcement released on thyssenkrupp’s website.
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Vale expects its iron ore production to grow consistently in the next few years to finally reach 390-400 million tonnes in 2022 and onwards with the gradual recovery from its tailings dam burst in January 2019, it shared at a seminar to the capital market participants at the New York Stock Exchange on December 2.
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Vale, the world’s top iron ore miner, has decided to temporarily halt the disposal of tailings at the Laranjeiras dam generated from the Brazilian giant’s 30 million tonnes/year Brucutu mine in its Southeastern System in Minas Gerais state in Southeast Brazil, the company announced on December 2 local time. The halt will affect Vale’s ore output in the first quarter of 2020, according to the official announcement released on its website.
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Shagang Group, China’s largest privately-owned steelmaker headquartered at Zhangjiagang, East China’s Jiangsu province, has nudged its long steel prices slightly higher for sales over December 1-10, by adding Yuan 50/tonne ($7.1/t) to its rebar, wire rod and bar-in-coil prices from the prior ten days, according to the company’s latest pricing policy released on Saturday.
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Vale, the world’s top iron ore miner headquartered in Brazil, announced on November 29 local time to resume the operations of Viga concentration plant of Ferrous Resources do Brasil in Minas Gerais, South Brazil, within 24 hours, which will bring approximately 330,000 tonnes/month of iron ore production.
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Two wholly state-owned Chinese shipbuilders formally integrated into a single shipbuilding giant on November 26, a union seen as helping to improve industry concentration, expand the enterprise’s scale and enhance its competitiveness. However, industry watchers canvassed by Mysteel Global on November 29 cautioned that any positive influence from the merger will not show itself in the market in the short run.
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Bazhou City Xinya Metal Products Co (Xinya), a flat strip and tube maker headquartered in Langfang city in North China’s Hebei province, has started constructing its 1.5 million tonnes/year flat products works in Indonesia, which it expects to commission at the beginning of 2021, a company official supervising the project told Mysteel Global on November 29.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in Zhangjiagang city in East China’s Jiangsu province, has lowered its procurement price for steel scrap again, clipping another Yuan 30/tonne ($4.3/t) off buying prices for all grades effective from November 29, the company announced on Friday morning.
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Suzuki Shokai- a major recycling company in the Hokkaido region formed a joint venture with both Yoko Hidaka (Thailand) and Chiho Environmental Group (Hong Kong). The new JV will start working from Jan’20, focusing primarily on the recycling of the industrial motors scrap.
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On November 27, 2019, Mysteel Global parent company, Shanghai Ganglian E-commerce Holdings Co. Ltd. (Ganglian), together with its existing business partner, Japan-headquartered Metal One, signed an investment agreement in India with the three founder shareholders of India's leading steel information company SteelMint.
