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China has raised the flooding alert to orange from yellow since July 12 with historically high water levels at many rivers and lakes, but so far steel mills in the affected provinces in East, Central and Southwest China have been operating as per normal, and have taken extra preventive measures, market sources shared on Monday.
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Despite the COVID-19 wreaking havoc across much of China during the first half of 2020, steel enterprises had been steadily progressing with the 38 ongoing new steel projects including installing new steelmaking and rolling facilities, adding on environmental protection facilities and upgrading assorted technology, according to a Mysteel report checking on the status of ongoing projects by the end of H1.
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As China enters the fifth week of the rainy season which began in early June, heavy rains and occasional floods are dampening steel demand to a large extent, though production at mills remains little affected by the wet weather, mill sources said on Monday.
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Steel demand in South China region has been seriously impacted by continuous heavy rains and occasional flooding associated with the arrival of this year’s Wet Season.
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China's iron ore imports over January-May rose 5.1% on year to 445 million tonnes, according to the latest statistics from China's General Administration of Customs on June 7. A detailed report will be posted soon.
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Despite a formal government notice circulated in the market on May 30, none of the 21 steel mills in Tangshan of North China’s Hebei province have been carrying out a range of 20%-50% cuts on their sintering, pelletizing and blast furnace capacities as speculated by June 2, local industry sources confirmed.
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Rumours spreading in Chinese steel markets that Tangshan city, China’s top steel producing hub, is going to implement another round of output curbs on steel mills in June are giving strong support to domestic steel market sentiment, industry sources said Friday.
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Steel mills located in areas in China where atmospheric pollution is a problem should be encouraged to shift away from blast furnace-based production to electric-arc furnaces and use domestic and overseas scrap steel as a substitute for iron ore, Liu Bingjiang, head of air quality management at the Ministry of Ecology and Environment (MEE), said on May 25, saying this is way for the country to tackle air pollution issues.
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All steel re-rollers in Fengrun district, Tangshan, China’s top steel producing city in North China’s Hebei province, were ordered to halt operations over May 18-31 as part of measures to tighten down on air pollution, according to a government notice seen by Mysteel Global.
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Sources from steel mills in Tangshan in North China’s Hebei province expressed the concern on April 16 that they might face a round of curbs with the recent persistently poor air quality in the city.
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Nowadays, when I am counting my blessings, I will put one in the daily list, which is that I have never ever thought of testing my market understanding by trading iron ore in the physical or paper markets myself despite having been closely monitoring the market since 2004.
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Several steel producers in Tangshan, China’s top steel producing city in North China’s Hebei province, plan to halt more facilities including blast furnaces this month as the city government has announced a new round of production restrictions on industrial enterprises for environmental protection, market sources confirmed on Thursday.
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China's Ministry of Industry and Information Technology (MIIT) is in the middle of the reviewing the qualifications of steel enterprises regarding their environmental protection efforts, facilities, and production safety measures, and it will be collecting feedback from the public throughout March before finalizing the list for 2020.
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Indian iron ore exports in Jan'20 were recorded at 2.85 MnT in Jan'20, highest since Apr'17, according to data maintained with SteelMint. The exports witnessed increase of 25% on monthly basis as against Dec’19 exports at 2.28 MnT.
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After winning Nuagaon mines, JSW Steel has won Narayanposhi iron ore mine block in Odisha under the ongoing auctions of the leases that are due to expire in 31 Mar'20.
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Iron ore shipments from Australia and Brazil to global destinations increased further by 233,000 tonnes on week to 20.5 million tonnes, mainly because of the higher shipment volume from Australia, Mysteel’s latest weekly survey over January 27-February 2 showed.
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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.
