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Chinese domestic prices of rebar should continue tracking upward over the short term as market players envisage the robust demand for the construction steel product continuing to linger, market sources shared on April 24. But they warned that prices were unlikely to refresh last December's 74-month high anytime soon.
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China will trim another 30 million tonnes/year of excess and outdated steel capacity in 2018 as part of the central government's ongoing supply-side reforms, according to a joint notice issued on April 20 by six powerful central government departments.
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The price of Q235 billet in Hebei province's Tangshan, the barometer of China's steel market, jumped another Yuan 80/tonne ($12.7/t) on week to Yuan 3,560/t EXW and including the 17% VAT as of April 20, according to Mysteel's latest weekly survey. Industry players cited the continuing improvement in steel demand and firm market sentiment.
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Shanxi Taigang Stainless Steel Co (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, aims to produce 7.8 million tonnes of pig iron and 10.5 million tonnes of crude steel this year, the latter unchanged from last year, according to the company's 2017 annual report released on April 20.
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China's steel industry has managed to return to the track of concentration since 2017 thanks to Beijing's efforts in excess steel capacity cuts and environmental protection, the China Iron & Steel Association notes.
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China's capacity utilization rate across heavy industrial sectors increased 0.7 percentage point year on year to 76.5% for the first quarter of 2018, according to the latest data from the country's National Bureau of Statistics.
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Cities in China which participated in last season's "2+26" cities scheme to improve air quality during winter seem set to continue the battle this year, asking heavy-polluting industries including steel, coke making and metal smelting to accept production restrictions.
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China's consumption and domestic production of gold both continued to decline in this year's first quarter, according to new data released by China's Gold Association (CGA) on April 16.
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China's Ministry of Industry and Information Technology has removed the names of 19 steelmakers from its list of qualified domestic producers for this year but has retained 256, it announced on April 13.
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China's domestic steel prices for 2018 are unlikely to repeat the gradual and persistent uptrend pattern as seen in 2017, and the steel prices' pullback at the end of the first quarter has been unavoidable to some extent, Chen Derong, general manager of China's Baowu Steel Group, commented when speaking at the Boao Forum for Asia on April 10 in South China's Hainan province.
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Wu'an, a county-level city in Handan city in North China's Hebei province, will continue to restrict the operations of steelmakers and steel raw materials suppliers during the present April-June quarter in a bid to encourage local mills to invest for a healthier environment.
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Steel margins among the 91 surveyed major blast-furnace mills across China posted declines by Yuan 59-339/tonne ($9.4-53.8/t) on month in March for different products.
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China's steel mills, with the dominant majority being blast-furnace producers, will be showing a growing preference towards higher-grade iron ore due to the country's greater emphasis on environmental protection in the years to come, market sources shared.
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Tangshan Q235 billet benchmark price continued to slide down but at a slower pace last week amid the operation halts at the local re-rollers, down Yuan 20/tonne ($3.2/t) week on week to Yuan 3,350/t EXW including the 17% VAT by March 30, according to Mysteel's weekly survey.
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The most-traded October rebar futures contract on the Shanghai Future Exchange (SHFE) closed at Yuan 3,391/tonne ($538/t) on the last trading day of March, up Yuan 143/t or 4.4% from March 29, mainly due to the improvement in the market sentiment on the revival of demand from downstream users and
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Shandong Iron & Steel Co, the Shanghai-listed arm of Shandong Iron & Steel Group (Shangang), aims to produce 8.98 million tonnes of pig iron and 10.45 million tonnes of crude steel this year, up by 51.7% and 45.1% respectively from last year's production, according to the company's 2017 annual report released on March 30. Finished steel output would reach 10.47 million tonnes this year, up 3.3 million tonnes or 46% on year, it said.
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Handan city, a major steel base in North China's Hebei province, has decided to impose a new round capacity restrictions on industries including steel which it believes are contributing to the toxic smog blanketing the city lately.
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Hebei Iron & Steel Group (HBIS), a top steel producer in North China's Hebei province, will install new steel capacity in Tangshan city, Hebei, by shutting down facilities including all those at its Xuanhua Iron & Steel Co as planned, Mysteel understands from a Hebei provincial government notice on March 27.
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Guilin Pinggang Iron & Steel Co, a privately-owned steel producer in South China's Guangxi province, has begun installing a new 120-tonne electric arc furnace and a 120-tonne twin ladle furnace as part of a steel capacity swap plan. The units will be capable of producing 1.2 million tonnes/year of raw steel.
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Steelmakers operating blast furnaces Wu’an, a county-level city of Handan city in North China’s Hebei province, might have to endure disruptions to their operations for much longer, Mysteel has learned.
The Wu’an city government had earlier instructed steelmakers in the city to cease production between March 16-31 in its battle against
