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Jiangsu Wujin Stainless Steel Pipe Group Company, a maker of welded and seamless stainless steel pipes and tubes headquartered in Changzhou city, East China's Jiangsu province, plans to invest Yuan 216.5 million ($34.3 million) to build a new stainless seamless tube mill for forming long, precision pipes and tubes for use in applications such as heat exchangers mainly for supply to the petrochemical and nuclear industries, according to a company announcement released on March 15.
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Special steel production in Japan over January-March is forecasted to rise by a tiny 0.4% from October-December to 4.97 million tonnes, according to the country's Ministry of Economy, Trade and Industry (METI). However, the current quarter's output will be 0.6% lower than a year ago, Mysteel notes.
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China's excavator sales continued to stay robust in the first month of 2018, with the volume having spiked 135% on year to 10,687 units in January, according to the latest statistics released by China Construction Machinery Association (CCMA) on February 9.
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China's promise to continue with its opening-up policy and its efforts in upholding globalization in the years to come will be good news to China's steel industry that is striving to evolve while removing excess steel capacities, Mysteel understands from the market.
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Guangxi Chengde Group, China's third largest stainless producer in Beihai, South China's Guangxi Zhuang Autonomous Region, is considering of halving its 300-series stainless output starting February on noting the weak market conditions, a company official confirmed on January 25.
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Shanghai-based Baoshan Iron & Steel (Baoshan Steel), the listed arm of China Baowu Steel Group, has sold over 12 million tonnes of auto sheet so far in 2017, or a new high for the company, a company official confirmed on December 27.
