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Steelmakers in Hebei in North China and Shandong in East China could be having a slightly quieter new year than they might have expected, Mysteel Global notes, though new rounds of emergency production curbs may have less impact on steel mills’ production than previous rounds.
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After a rather prosperous 2018, Chinese steel mills have experienced a rather bumpy 2019 with the biggest challenge coming from the soaring raw material costs primarily because of iron ore. The country’s overall steel output in line with substantial growth in demand, nevertheless, still grew substantially with Beijing’s making great efforts to boost domestic demand via infrastructure construction.
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China’s economy should maneuver into the slower lane but aim for higher quality growth starting 2019-2020, Cheng Shi, chief economist from ICBC International Holdings, shared at the Mysteel Bulk Commodities Week 2020 forum on December 14 in Shanghai, portraying this year and next as the turning point where the country’s future relies on quality rather than sheer speed.
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The central government body administering China’s steel industry, together with the China Iron & Steel Association, are looking into how to improve steel capacity relocation practices to optimize the steel sector’s industrial structure, officials from both the organizations shared at the Mysteel Bulk Commodities Week 2020 forum held over December 14-15 in Shanghai.
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China’s steel scrap prices may ease in the next couple of months and throughout 2020 in general, though some traders may expect otherwise, according to speakers at the Mysteel Bulk Commodities Week 2020 Scrap Seminar on December 13 in Shanghai.
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Market sources view the December curbing measures just released by Tangshan government in North China’s Hebei province on its local polluting industries including steel, coke, cement, and glass, have not been “as harsh as last winter”.
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Suzuki Shokai- a major recycling company in the Hokkaido region formed a joint venture with both Yoko Hidaka (Thailand) and Chiho Environmental Group (Hong Kong). The new JV will start working from Jan’20, focusing primarily on the recycling of the industrial motors scrap.
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The price of Q235 150mm square billet in North China’s Tangshan, a crucial indicator of Chinese steel market sentiment, continued trending upward over past week, gaining by another Yuan 40/tonne ($5.7/t) on week as of last Friday, according to Mysteel’s weekly billet report. Respondents noted the constraints on billet output from the ongoing restrictions on local blast furnace operations as an anti-pollution measure.
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Singapore is already a step ahead of other ASEAN member countries in promoting greater use of higher-grade rebar or composite steel frames in building construction to cut costs, shorten construction time and contribute to reducing Green House Gas (GHG) emissions, Mysteel Global learned from the two Singapore speakers at the 2019 ASEAN Iron & Steel Sustainability Forum in Jakarta, Indonesia, on November 25.
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The closing price of the most-traded rebar contract on the Shanghai Futures Exchange for January delivery jumped by Yuan 133/tonne ($19/t) on week to Yuan 3,545/t as of November 15.
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China’s Ministry of Ecology and Environment (MEE) released two notices on its website on November 12 regarding winter restrictions in the Fenwei Plains and the Yangtze River Delta area over October 1-March 31 2020, with steel, coal and coke industries mentioned, though the focus has been on PM2.5 reduction and waste emission than any detailed and specific instructions in tackling coking, blast furnaces, and sintering.
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Ministry of Steel (Indian govt) in an endeavor to develop a globally competitive steel industry by adopting state of the art environment friendly technologies has notified steel scrap recycling policy yesterday. Ferrous scrap being the primary raw material for EAF/ IF based steel production, the policy envisages a framework to facilitate and promote establishment of metal scrapping centers in India.
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After a six-year hiatus, China’s National Development and Reform
Committee (NDRC), the country’s top economic planning body, has released its
latest industrial restructuring guidelines, effective on January 1 2020, to
direct the development of all the key 48 economic sectors including new energy,
coal, steel, nonferrous metals and mining.
The version, posted on the Committee’s
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Steel re-rollers in Tangshan, China’s major steel production base in North China’s Hebei province, have been gradually returning to their normal productions after the latest round of restriction expired since 8:00am (Beijing time) on November 7.
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Entering November, several Chinese provinces and cities, especially those in and around North China’s Beijing-Tianjin-Hebei region, have issued work plans to counter air pollution in the coming winter months. Notable by its absence however has been Tangshan, the top steelmaking city in Hebei, which as of October 31 had not made any announcement targeting winter restrictions – simply because production clamps on industries for pollution control have long become the “new normal” in the city, pundits suggest.
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City and provincial governments in northern China have announced new rounds of production cuts on industrial enterprises including steelmakers beginning October 23 due to severe air pollution. Production and transportation at steelmakers are affected, Mysteel Global understands.
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Over the coming few days, the local government of Tangshan city, China’s top steel producing base in Hebei province, intends to strengthen emergency measures already in place to reduce pollution over the city, Mysteel Global has learned, as a response to warnings from both the central and local meteorological administrations about air quality deteriorating.
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Chinese steel market participants are divided on whether steel mills in the “2+26” cities in North China will definitely face tougher restrictions from their local authorities in the upcoming winter over November-March 2020 just because Beijing has set a higher bar for air pollution reduction, targeting to reduce the average PM2.5 density by 4% on year for the 2019 winter from last year’s 3% reduction.
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Odisha govt. has today (i.e 14th Oct 2019) invited bids for grant of ten more iron and manganese ore mining leases via Phase II. In this phase few key iron ore mining leases that are being auctioned include - Rungta's Jajang mine, Serajuddin Balda block, GS Mishra & Sons & BICO.
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The government of Tangshan city in North China’s Hebei province, the country’s largest steel production base, is activating second-level emergency measures to combat air pollution due to deteriorating air quality, according to a city government order issued on Tuesday afternoon which warned of severer production restrictions being slapped on local industries including steelmakers.
