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Indian Spot steel trades gradually improved and the prices rise by INR 300-1,300/MT day on day
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The Japanese steel market are still seeking clear signs of revival in steel demand as the state of emergency was just lifted on May 25, and many of the market participants are also waiting to see whether the government’s intensifying efforts in stimulating the national economy will boost steel consumption.
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Taiwan’s top steel producer, China Steel Corp (CSC), has decided to raise the list prices of its most major steel products priced monthly by TWD 450/tonne ($15/t) for sales in July, according to the company’s latest pricing policy released on May 22. The integrated maker expects the global economy – and in turn, steel demand – to recover in the second half of this year, it said.
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Carbon steel sales at China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, fell by a significant 10.9% on month in April due to shrinking demand both at home and abroad, a company official confirmed.
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After having maintained the prices unchanged since the start of April, Shagang Group, China’s largest long steel supplier, has announced to raise all its long steel list prices by Yuan 50/tonne ($7.1/t) for sales over May 21-31 to partially reflect the recent strengthening in China’s domestic steel prices and higher raw material costs, Mysteel Global understands.
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The divergence in market trends between long and flat steel products in China is likely to intensify this year because of the impact of COVID-19 on global and domestic steel demand, according to Wang Juan, Secretary of the Board of Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of the world largest steel producer, China Baowu Steel Group (Baowu).
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Japan’s three integrated steel mills posted severe net losses on year during the fiscal year 2019 (April 2019-March 2020) mainly because of unprecedented challenges brought along by the COVID-19, industry sources shared on May 15.
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Manganese ore prices skyrocketed amid anticipation of supply shortfall due to lockdown in South Africa. However, the sharp increase has come to a halt in line with scarce enquiries and limited transactions.
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Nation’s crude steel output reported a significant fall as the mills scaled down their operation due to announced lock down.
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As the Coronavirus (Covid-19) pandemic continues disrupting India's domestic steel demand, CoalMint | Coking Events spoke to the Maharatna PSU Steel Authority of India Limited (SAIL) chairman Anil Kumar Chaudhary, to understand the company’s contingency plans to combat the worsening impact of the viral outbreak.
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Finished steel production at Baoshan Iron and Steel Co, the listed-arm of China Baowu Steel Group, rose by a tiny 0.3% on year during 2019 while its net profit attributable to shareholders slumped by a large 42.1% on year, according to the company’s latest annual financial report released on April 29.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, disclosed that its total carbon steel sales grew by 117,622 tonnes or 4.5% on year to 2.73 million tonnes over the first quarter of 2020, mainly thanks to better sales after the Chinese New Year holiday, according to the company’s latest monthly report released on April 24.
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Steel exports of Nanjing Nangang Iron & Steel United Co (NISCO), a major Chinese steel producer in Nanjing city in East China’s Jiangsu province, surged 147% on year to 211,944 tonnes in the first quarter of this year, an official with NISCO’s international trading company has confirmed.
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Steel Authority of India (SAIL) has achieved the best ever annual sales of 14.5 MnT with a growth of 2.8% over the corresponding period last year FY’18-19. The company also exported 1.18 MnT steel products, up 54% over CPLY.
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Production Summary
(1)
Wet basis.
(2) Reflects export production from South Africa and attributable export production
(33.3%) from Colombia.
(3) Reflects nickel production from the Nickel business unit only
(excludes nickel production from the Platinum Group Metals business unit).
(4) Contained metal basis. Reflects copper production from the Copper
business unit only (excludes copper production
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, has decided to further cut domestic list prices of its major steel products for sales in June, given the slackening demand for steel under the impact of the COVID-19, a company official confirmed on Tuesday.
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Nippon Steel, Japan’s largest integrated steel mill, plans to will bank another blast furnace as the company scrambles to adjust its operations to meet lower domestic and export steel demand from the spread of COVID-19 now worsening in Japan.
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South32 Limited, the world’s top manganese ore miner headquartered in Perth, Western Australia, has adjusted its manganese ore production guidance for its business year FY20 spanning July 2019 through June 2020 to respond to the impact of the COVID-19, according to the company’s latest quarterly report published on April 20.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace mill, has decided to keep its finished steel prices for May sales unchanged while closely monitoring the market situation, according to the company’s announcement on April 20.
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Note:South32’s
financial year runs from July to June.
Unless otherwise
noted: percentage variance relates to performance during the nine months ended
March 2020 compared with the nine months ended March 2019 (YoY) or the March
2020 quarter compared with the December 2019 quarter (QoQ); production and
sales volumes are reported on an attributable basis.
Source: South32,
released on
