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China’s largest electric-arc-furnace producer has formally been incorporated on July 27 in Southwest China’s Sichuan by combining eight local independent EAF mills, which has also helped the province to enhance it steel industry concentration, competitiveness and efficiency, the Sichuan Provincial Economic and Information Department shared in a release on the same day.
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Pohang Iron and Steel Co Ltd (POSCO), a major steel producer in South Korea, reported its Q2CY’21 results today. Steel production and sales have increased y-o-y with an improvement in operating capacity during Q2CY’21. However, Q2 of both the years have been impacted by waves of Covid-19 and subsequent lockdowns or containment measures.
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BHP, a leading ferrous and nonferrous mining company in the world, has signed a long-term nickel supply deal with the world’s largest electric car manufacturer Tesla for the latter’s battery production, BHP shared on July 22.
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Anshan Iron & Steel Group (Ansteel) in Northeast China’s Liaoning province has been quietly progressing with its merger of Bengang Group (Bengang), another state-owned steel mill in the province, as more shares of Bengang’s Shenzhen-listed arm have been transferred to the group company free of charge to facilitate the merger, a Bengang official confirmed on July 21.
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South32 Ltd’s total share of manganese ore output from its joint ventures in Australia and South Africa grew by 8% on year to 5.8 million wet metric tonnes (wmt) in the Australian company’s 2021 financial year (ended June 30), according to its quarterly report released on July 21.
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As part of its efforts to help reduce CO2 emissions, JFE Steel, Japan’s second largest integrated mill, has signed long-term contracts to charter three new Capesize bulk carriers fuelled by liquified natural gas (LNG) to transport its iron ore and coal from overseas suppliers. JFE will be the first Japanese steel producer to deploy large-sized LNG-fuelled vessels, the company announced on July 20.
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Shagang Group, China’s largest privately-owned steel producer headquartered in East China’s Jiangsu province, announced on July 21 to increase its rebar list price by another Yuan 250/tonne ($38.6/t) for sales over July 21-31, in response to the prevalent market expectation on China’s crude steel output cut for the remainder of the year, according to market sources.
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Note:
South32’s financial year runs from July to June.
Unless otherwise noted: percentage variance relates to performance
during the financial year ended June 2021 compared with the financial year
ended June 2020 (YoY) or the June 2021 quarter compared with the March 2021
quarter (QoQ); production and sales volumes are reported on an attributable
basis.
Source: South32,
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Production Summary
(1) Wet basis.
(2) Reflects export primary production, secondary production sold into export markets and production sold domestically at export parity pricing from South Africauntil the demerger of the South Africa thermal coal operations effective on June 4 2021, and attributable export production (33.3%) from Colombia (Cerrejón).
(3) Reflects nickel production
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China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, says its total carbon steel sales for the first half of 2021 declined by 128,943 tonnes or 2.6% on year to 4.9 million tonnes, according to a company release on July 19.
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China Steel Corp (CSC), the largest steel mill in Taiwan, is rolling over its flat steel list prices for sales in August to stabilize steel prices and secure supplies to its customers, according to its latest pricing policy released on July 15.
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China Baowu Steel Group (Baowu), already the world’s largest steel producer over 100 million tonnes/year of crude steel capacity, has locked in state-owned Shandong Iron & Steel Group (Shangang), a top steel mill located in East China’s Shandong province, as its next acquisition target among the Chinese steel mills, Shandong Iron & Steel Co, Shangang’s Shanghai-listed arm, disclosed in a release on July 15.
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JSW Utkal Steel Limited has applied for right of way for 8.3 km along the Taladanda canal embankment near Paradip which should speed up the completion of its 30mtpa slurry pipeline.
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Shagang Group, China’s largest privately-owned steelmaker headquartered in East China’s Jiangsu province, has raised its rebar list price by Yuan 200/tonne ($30.9/t) for sales over July 11-20 from the prior ten days, it announced on Sunday.
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China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, has been asked by the local government to stabilize steel prices and to secure supply, according to a company release posted on its website on July 9.
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China Baowu Steel Group Co (Baowu), the world’s top steel producer, will ignite its third blast furnace also with a size of 5,050 cu m just as planned in the second half of 2021 at its Zhanjiang steelworks in South China’s Guangdong province, an official of the steelworks confirmed on July 6, rebutting a market rumour about the “indefinite” delay of the commissioning.
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Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, announced on July 1 to roll over rebar list price for sales over July 1-10, or having taking a pause after having cut the list price by a total of Yuan 1,050/tonne ($162.5/t) four rounds since May 20, Mysteel Global noted.
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Indian mills may need to bring down prices for European buyers to make their exports viable and match competition.
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Japan’s largest automaker, Toyota Motor, has informed its auto components suppliers that it will keep domestic vehicle production at above 13,500 units/day during July-September, Mysteel Global has learned.
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The controversial auto contracts for Apr-Sept ’21, which should have been finalised at the beginning of the current fiscal, are still hanging fire with steel mills and auto Original Equipment Manufacturers (OEMs) continuing to be at the negotiating table. The mills had sought INR 10,000-11,000/t increase in their offers to the auto makers for the first quarter on a pro rata basis.
