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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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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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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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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.
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Japan’s Daido Steel, the country’s largest stainless longs producer and a special steel subsidiary of Nippon Steel, has decided to add 10% to its list prices for stainless bars and sections for domestic and export sales for July, a company official confirmed on July 9.
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The likelihood that the Tokyo Olympic Games will be held as planned later this month, rather than cancelled despite rising coronavirus cases, is forcing Japanese steel industry insiders doing business in and around the capital to brace for delays to deliveries and other disruptions. The Tokyo Olympics are scheduled for July 23-August 8 and the Paralympic Games during August 24-September 5, Mysteel Global notes.
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The four largest property developers in China all posted strong growth in sales value and volume in the first half of this year, according to results posted by their listed companies over July 1-6. Market watchers suggested the on-year rises reflected the low base of 2020 and the firms’ accelerated pace in promoting sales.
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For the domestic sales to the distributors this month, Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has raised its list prices of 300-series cold-rolled coil (CRC) by Yen 20,000/tonne ($181/t), and the prices of the 300-series plate and 400-series CRC have been up by Yen 10,000/t, all to reflect higher input cost and supply tightness, a company official confirmed on July 8.
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In June, China’s sales of excavators and other heavy machinery including at home and abroad continued with the on-year decline for the second month, down 6.2% on year or 15.3% lower on month to 23,100 units, Mysteel Global understood from the release by the China Construction Machinery Association (CCMA) on July 7, as domestic sales continued to ebb.
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China’s heavy-duty truck sales volume may post the second consecutive month of an on-year decline for June, or down of 10% from a year ago to 153,000 units, as demand had been weakening and stocks had been building up, according to the release by the Beijing-headquartered Commercial Vehicle World (CVWorld) on June 30.
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Japan’s Purchasing Manager’s Index (PMI) for its manufacturing industry for June declined by 0.6 basis points on month to 52.4, but the result remained above the threshold of 50 connoting expansion, according to data released on July 1 by index compiler au Jibun Bank Corporation. Though growth has slowed, the improvement in Japan’s manufacturing health has now stayed positive for five consecutive months, it noted.
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In June, China’s Purchasing Managers’ Index (PMI) for its steel industry scored 45.1, or having reversed down by 1 basis point on month, and domestic steel demand eased, while steel production was still growing, leading to higher supply, the official index compiler - CFLP Steel Logistics Professional Committee (CSLPC), shared its analysis in the release on June 30.
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In May, Japan’s eight major automakers produced about 1.6 million units of vehicles including all of their plants in and out of Japan, up 76.3% on year, or the fourth month with an on-year rise, according to the latest data released on June 29 by the individual companies, and the on-year jump was mainly due to the low base a year ago when Japan was at the state of emergency, according to sources.
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In May, Japan’s domestic sales of stainless flats comprising hot-rolled (HR) and cold-rolled (CR) coils and sheets from Japan’s 32 coil centers fell by 8.7% on month but grew 26.7% on year, according to the data released by the Japan Stainless Coil Center Association (JSCA) on June 25, and the domestic demand has been recovering and supply is getting tighter, according to market sources.
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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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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has decided to raise domestic list prices of its 300-series and 400-series wire rod by Yen 20,000-25,000/tonne ($180-225/t) for June-August sales mainly to reflect higher alloy costs, a company official confirmed on June 24.
