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For March, Japan's core machinery orders from domestic users other than shipbuilders and power equipment makers increased 7.1% on month in value to Yen 869.5 billion ($6.8 billion), or the first on-month drop in three months, according to the release by the Japanese government's Cabinet Office on May 19.
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Kyoei Steel, Japan's largest rebar producer, has decided to keep its rebar base prices unchanged on month at Yen 120,000/tonne ($937/t) for June domestic sales, to give the market another month to digest the previous hikes, the company announced on May 19.
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Over January-April, China's production of air-conditioners, refrigerators and washing machines declined on-year, while that of televisions rose, according to the data released by China's National Bureau of Statistics (NBS) on May 18.
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Nippon Steel, Japan's largest integrated mill and a leading H-beam producer, has decided to keep its H-beam prices for domestic spot sales for May unchanged, to give the market a month to digest its previous rises, the company announced on May 18.
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Total orders for new ships received by China's shipbuilders in April posted a hefty 49% on-year decline to reach 5.46 million deadweight tons (DWT), according to the latest data from the China Association of National Shipbuilding Industry (CANSI).
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By May 18, Japan's rebar prices have been kept flat since the end of April with buyers stepping back from buying activities to monitor the movement because of weakened scrap prices. But Japanese rebar producers are still taking strong stances on prices, so rebar prices are unlikely to decline, market sources shared.
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In April, Japan's new ship orders from both home and abroad rose for the second month by another 10.5% on year to 1.91 million gross tonnes (GT) or in 33 vessels, according to the data released by Japan Ship Exporters' Association (JSEA) on May 17. Market sources expected that the steel consumption by shipbuilders would be kept at high levels.
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With more countries across the world embarking on infrastructure refresh initiatives such as wind power turbines, solar panels, green buildings and development of electric vehicles (EVs), demand for steel and its raw material iron ore is set to hold steady in the next couple of years, predicts Kwa Chong Seng (pictured below), Chairman of SGX Group, at the opening ceremony of Singapore International Ferrous Week 2022 that kicked off on May 17 and runs till May 20.
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Despite challenges on multiple fronts, China's steel market remained largely stable in the first three months of this year and is expected to see a recovery in steel demand in the following months, believes Qi Bin, market research department deputy director at the China Iron and Steel Association (CISA).
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Japan's sales of finished carbon steel products during fiscal 2021 (April 2021-March 2022), rose by 7.3% on year to 60.77 million tonnes, according to the latest data released by the Japan Iron & Steel Federation (JISF) on May 16. Last fiscal's result showed that the industry had recovered from the 50-year low recorded during the previous year because of the COVID-19 outbreak, but the improvement was not as great as had been expected, a JISF official commented.
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Tokyo Steel Manufacturing, Japan's leading electric-arc-furnace producer, has decided to roll over its carbon steel prices for June domestic sales, mainly to wait for its previous hikes to be digested by the market, the company announced on May 16.
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By the end of March, Japan's stocks of carbon steel flat products held by domestic steel producers, coil centers and distributors approximated 4.52 million tonnes, or down for the first time since November by 2.8% on month, according to data from Nippon Steel on May 12. Market sources observed that production adjustments by steelmakers must have led overall stocks to decline.
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Over April-June, Japan's crude steel output including both carbon and special steel is estimated to rise 3.5% on quarter to about 20.85 million tonnes, according to the latest release by Japan's Ministry of Economy, Trade and Industry (METI).
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In April, China's sales and production of automobiles both declined on year for the second month by 47.6% and 46.1% respectively, according to the data released by China Association of Automobile Manufacturers (CAAM) on May 11.
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Toyota Motor, Japan's largest automaker, has been forced to trim its global vehicle production for May by about 50,000 units from the previous plan due to the delay in component deliveries caused by logistics disruptions amid the ongoing COVID-induced lockdown in Shanghai, the company announced.
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China's excavator sales for both domestic and overseas markets during April declined on year for the twelfth consecutive month, falling by 47.3% on year to 24,534 units, according to the latest data from the China Construction Machinery Association (CCMA) on May 10. This was also lower by 33.8% on month.
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Nippon Steel, Japan's largest integrated mill has decided to invest about Yen 270 billion ($2.07 billion) to install a new-generation hot-rolling (HR) mill at its Nagoya Works in central Japan, which is slated for operation in April-June 2026, the company announced. The investment amount will be the largest for us for just one facility, a company official added.
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JFE Steel, Japan's second-largest integrated steel producer, has decided to add Yen 20,000/tonne ($154/t) to its prices of longs including both carbon steel and special steel for May sales, mainly to reflect higher raw material prices such as iron ore, coal and scrap for both blast furnace and electric-arc-furnace operations, a company official confirmed on May 10.
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For March, Japan's newly-launched non-timber buildings declined by 7.9% on year to 5.76 million sq m, according to the latest statistics released by the country's Ministry of Land, Infrastructure, Transport and Tourism. However, market sources believed that Japan's demand for construction steel would remain stable until late this year or even longer despite all the uncertainties.
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China's sales of heavy trucks in April plunged by 77% on year to a total of 45,000 units, or having posted an on-year decline for 12 consecutive months, mainly due to the COVID-19 outbreaks across the country and high base of last year, according to a preliminary estimate released by Beijing-headquartered Commercial Vehicle World (CVWorld) on May 4.
