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Nippon Steel has decided to add Yen 10,000/tonne ($91/t) to all its flat steel prices for September deliveries to spot buyers including re-rollers, Mysteel Global has learned. Japan’s largest integrated mill says it needs to transfer production cost rises to buyers, and in any case, supplies of flat products are tight in and outside of Japan and it wants to narrow the price gap with overseas competitors.
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Stocks of imported carbon steel flats including hot-rolled and cold-rolled coils and plates at Japan’s key ports of Tokyo and Osaka declined on month for the first time in June after five months of inclines, down 2.3% or 3,000 tonnes on month to 128,000 tonnes, according to new data released on July 28 by Japanese trading house, Hanwa Co, which was mainly due to robust demand from domestic end-users.
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Japan’s electric-arc-furnace (EAF) steel producers have been receiving active inquiries for billet from Chinese buyers and bid prices are trending upwards, according to sources in Tokyo and Osaka on July 28. But actual billet exports are unlikely to increase due to limited availability, they said.
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Osaka Steel, Japan’s largest steel section producer and a subsidiary of Nippon Steel, will add Yen 3,000/tonne ($27/t) onto its section list prices for August domestic sales, or the third consecutive month for its efforts to transfer rising production costs, a company official confirmed on July 28.
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China’s shipbuilders saw their profits slump by a huge 40% on year to reach Yuan 1.02 billion ($157.5 million) over January-May, despite the recovery of the global shipping market, according to a release from the China Association of National Shipbuilding Industry (CANSI) on July 26. High production costs were blamed.
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Toyota Motor, Japan’s largest auto maker, has informed its auto parts suppliers that the company has adjusted its vehicle output plan lower for August and September by 10,000 units/month from its initial plan made a month ago, according to market sources in Tokyo and Nagoya in central Japan. The auto giant citing delays in receiving critical components.
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In June, Japan’s domestic sales of stainless flats including hot-rolled (HR) and cold-rolled (CR) coils and sheets from Japan’s 32 coil centers rose 18.6% on month, according to the data released by the Japan Stainless Coil Centers Association (JSCA) on July 26, which was probably due to the improvement in spot demand, according to market sources.
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Tokyo Steel Manufacturing, Japan’s major electric-arc-furnace steel producer, posted a 12.2% increase in its carbon finished steel sales over the first quarter of Japan’s new fiscal year to 633,000 tonnes, thanks mainly to robust export orders. The mini-mill expects a further increase during the current quarter, Mysteel Global learned.
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Over July 19-23, Japan’s domestic-generated H2 grade scrap prices softened by Yen 500-1,000/tonne ($4.5-9/t) on week for domestic sales on less demand from the domestic mini-mills though export price had been steady on week albeit fewer inquiries.
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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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Over January-June, China’s production of all the four mainstream white goods still grew on year though at a slower pace of 5.6-33.5% against the 10.2-37.3% on-year growths for the first five months of 2021, as their June output fell on month, Mysteel Global noted from the latest data released by China’s National Bureau of Statistics (NBS) on July 19.
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Nippon Steel, Japan’s largest integrated mill, has won an order to supply high-alloy seamless pipes for the Carbon Dioxide Capture and Storage (CCS) project in the North Sea, the company announced on July 20.
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Japan’s major construction steel distributors in Tokyo and Osaka have set their H-beam prices at Yen 100,000/tonne ($913/t) from this week to pass along increases pushed through recently by producers, Mysteel Global has learned. If the dealers achieve their goal, this will be the first time since November 2008 that dealer prices for base-size beams have reached Yen 100,000/t.
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Japan’s finished carbon steel sales both at home and abroad soared 37.1% on year to about 5.03 million tonnes in May, according to the data released by the Japan Iron & Steel Federation (JISF) on July 16, due to the steady growth in demand and low base a year ago, a JISF official commented on Monday.
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Over July 12-16, Japan’s domestic-generated H2 grade scrap prices stayed unchanged on week for both domestic sales and exports, though scrap traders expect prices to soften on fewer inquiries from overseas buyers.
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The Japanese integrated mills including Nippon Steel have reportedly won a large price increase for the sheets they supply to domestic electronics makers and makers of prefabricated homes for the first half of fiscal 2021 (April-September), lifting these by Yen 30,000-50,000/tonne ($273-455/t) from the previous October-March half, according to industry sources on July 16.
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Kyoei Steel, Japan’s largest rebar producer, is keeping rebar base prices at all its four plants across Japan unchanged at Yen 90,000/tonne ($819/t) for August domestic sales, the Osaka headquartered mini-mill announced on July 15.
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Chinese shipbuilders concluded new vessel orders totalling 38.2 million dead weight tons (dwt) during the first half of 2021, higher by a huge 206.8% on year, according to the latest release from China Association of National Shipbuilding Industry (CANSI) on July 13. The growth was more pronounced than the 182.6% on-year rise for the first five months, the data show.
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Leading Japanese H-beam producer Nippon Steel on Monday added Yen 5,000/tonne ($45/t) to its H-beam list prices for spot domestic sales with immediate effect, saying the raise is to offset higher input costs and to reflect the tightness of supply. The hike for its beams is the company’s third in as many months and makes for a total increase of Yen 18,000/t since May, Mysteel Global notes.
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Japanese demand for carbon and special steel in crude steel equivalent for both domestic sales and export will rise 1.2% on quarter to 24.69 million tonnes during the present July-September period, according to the latest forecast released by Japan’s Ministry of Economy, Trade and Industry (METI) on July 13. This would make for the fifth consecutive quarter-on-quarter rise but more significant is the fact on a finished steel basis, METI puts growth far higher at 7.2%, Mysteel Global notes.
