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China’s graphite electrode price has been showing signs of softening over the month mainly amid the increase in supply and at the same time the domestic steel mills’ practicality in procurement strategies nowadays, market sources shared on Thursday.
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Jiangsu province in East China plans to shut down all the local independent coking plants and to remove all those that are affiliated to the local steel mills from inland areas by 2020, market sources confirmed on August 16.
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung city, Central Taiwan, is again rolling over its domestic sales prices for rebar and its procurement prices for locally-sourced scrap for the current August 13-17 week, a company official told Mysteel on August 13.
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Japan’s leading independent mini-mill, Tokyo Steel Manufacturing, raised its purchase price for all grades of steel scrap by Yen 500-Yen1,000/tonne ($4.5-9/t) effective from the morning of August 10 for all deliveries to its four steelworks and to its warehousing center in western Japan.
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Shougang Hierro Peru S.A.A. (Shougang Hierro), the wholly-owned iron ore company of China’s Shougang Group, has commissioned a new 10 million tonnes/year beneficiation plant for iron ore concentrates, a company official has confirmed.
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Carpentaria Resources (CAP), a prospective iron ore miner in Australia, has reached an agreement with Tokyo-based Mitsui &Co (Mitsui) for the latter to finance A$86.4 million ($64 million) into its Hawsons magnetite iron ore project, in New South Wales, Southeast Australia, according to a disclosure from CAP on August 6.
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Jiangxi PXSteel Industrial Co (Pinggang), a leading construction steel producer in East China’s Jiangxi province, has suspended its blast furnaces and sintering plants for five days starting August 6 as the steel mill is going through environmental protection inspections, according to Mysteel’s market monitoring.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker in East China’s Jiangsu province, has lifted its steel scrap procurement price by another Yuan 150/tonne ($22/t) on average effective on August 7, or the second time so far in August since August 2.
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung city, Central Taiwan, has decided to again roll over its domestic sales prices for rebar and its procurement prices for locally-sourced scrap for the current August 6-10 week, a company official confirmed on August 6.
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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 decided to lift its steel scrap procurement prices by Yuan 100/tonne ($14.8/t), the steelmaker said in an announcement on August 2.
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Rio Tinto managed to further cut down on its iron ore production cash cost by $0.4/tonne year on year to $13.4/t on average for January-June, the world-class mining company disclosed in its interim financial report released on August 1.
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Prices of ferrous scrap in China are expected to rise further over the near term, market sources said Wednesday, saying that the recent tide of output restrictions on steel mills nationwide will further tighten market supplies of scrap.
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Rio Tinto has announced that sales of coal assets in Queensland, Northeast Australia, have proceeded as planned following agreements concluded back in March.
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung city, Central Taiwan, has decided to again roll over its sales prices for rebar and its procurement prices for locally-sourced scrap for the current July 30-August 3 week, a company official confirmed on July 30.
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Jiangsu Shagang Group (Shagang), China’s largest electric arc furnace steelmaker headquartered in Zhangjiagang city in East China’s Jiangsu province, has decided to lift its steel scrap procurement price, the mill said in an announcement last Saturday. The steelmaker is offering scrap collectors an additional Yuan 60-80/tonne ($9-12/t), it said, citing lower scrap stocks on hand.
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US coal miner Peabody Energy’s sales of metallurgical coal from its Australian segment surged by a remarkable 45% on year to 2.9 million tonnes over April-June, mainly because of the “sustained demand for quality metallurgical coal and healthy seaborne pricing levels”, Peabody said in its recent quarterly report tabled July 24.
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Brazilian iron ore miner Vale maintained its iron ore fines cash cost for the April-June quarter at $14.7/tonne FOB, the same as its previous quarter, according to its latest quarterly financial report released on July 26.
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Australia’s Fortescue Metals Group (FMG), the world's fourth largest iron ore miner, shipped a record 46.5 million tonnes of iron ore globally over April-June, up by 78,000 tonnes or 20% on quarter and by 4.03% on year, according to the company’s latest quarterly report published on July 26. The June quarter performance brought the Perth-based company’s total fiscal 2018 shipments (July 2017-June 2018) to 170 million tonnes, some 2.2 million tonnes higher than in FY17, it said.
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Improvements Rio Tinto has made to its mainstay Pilbara Blend fines iron ore product resulting in higher Fe content and fewer impurities are winning customers back to PB fines, Chinese market sources noted. The blend is regaining popularity among Chinese steel mills, at a time when supplies of Brazilian fines such as Carajas fines are tight, they said.
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Feng Hsin Steel, Taiwan's largest rebar producer headquartered in Taichung city, Central Taiwan, has decided to roll over its rebar list prices and procurement prices for locally-sourced scrap for the current July 23-27 week, a company official confirmed on July 23.
