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In week-40 (28th Sep - 5th Oct’19) Indian steel prices in secondary market continued to fall owing to lack of domestic & export inquiries. Major mills announced roll over in finished steel prices for Oct'19.
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China’s crude steel production found another burst of energy during April and May – after leaping by nearly 10% over January-March – to refresh new output highs and in turn, fuel market concerns about oversupply, according to a report in China Metallurgical News on June 19, according to a report in China Metallurgical News on June 19.
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China wants more of its steelmakers to locate at the coastal areas - not just for their health but for everyone else’s. Begun tentatively a decade ago when land was needed for special events – the 2008 Beijing Olympic Games and Expo 2010 in Shanghai, to name but two – the relocation of steelmakers from city areas to coastal regions is now a heavily-promoted industrial guidance upheld by many local and provincial governments. Less widely publicized are the merits for the involved steel mills to get to know their new neighbours.
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China’s National Development and Reform Commission (NDRC), the country’s top economic planning body, is formulating policies to promote nationwide consumption of eco-friendly and high intelligence auto, white goods and electronics products, according to Xinhua reports on April 18 and April 21.
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The continuous downward adjustment seen in China’s domestic steel scrap market over the past month is likely to continue in April as steel mills’ scrap stocks may keep rising for some time, market watchers said Wednesday. But they suggested that if the next few weeks witness a sustainable rebound in finished-steel prices, the scrap market could experience moderate rises in mid- to late-April.
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Steel plants are supposed to be dirty, dusty and devoid of color, right? Perhaps with a few scruffy shrubs in the factory’s mandatory ‘Green Belt’? What amazed the group of 37 foreign and Chinese visitors when they strolled into the worksite of Nanjing Iron & Steel Co (NISCO) on March 29 in East China’s Nanjing, therefore, was nothing about steel at all, but all the beautiful blossoms and the peach trees bordering roads within the works and in gardens around facilities sheds.
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China’s decision to reduce the value-added tax on manufacturers to 13% on April 1 from the prevalent 16% may not definitely lead to lower prices of ferrous products including iron ore and steel or downstream products such as auto, market sources said on Monday and Tuesday.
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China’s steel industry is in general excited at the news on Beijing’s mulling cutting the value-added tax (VAT) on the domestic manufacturers and small and micro enterprises to 13% from the present 16%, possibly in 2019, expecting the measure to reduce their production costs, helping them enhance their competitiveness especially in the global market, according to market sources on March 5 and 6.
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Shen Wenrong, chairman of Jiangsu Shagang Group, China’s largest producer of long steel products, has added his voice to those warning that after enjoying the “best year” in 2018, the country’s steel industry faces a much tougher 2019.
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With severe air pollution expected to envelop large swathes of China this week and next, industries identified as major sources of pollution such as steel mills will likely come under close monitoring by local governments ready to slap emergency restrictions on production, steel sector sources warned Tuesday. But though stern official announcements and excited Chinese media reports have raised anxiety levels among affected enterprises up a few notches, steel market watchers counsel calm, maintaining that disruptions to production are unlikely to be any more severe than those the industry has already endured so far this winter.
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What were the key contributors to developments in China's ferrous industry in 2018?
Which important factors do you need to keep an eye on going into 2019?
Identify opportunities in 2019 with this infographic from Mysteel Global.
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The start of production restrictions for winter among Chinese steelmakers and their raw materials processors has revealed a vast difference in approach to the issue among steelmakers and local authorities in the country’s two largest steelmaking centres, Tangshan and Handan in North China’s Hebei province. But for the 200-odd steelmakers and merchant coke producers the cities host, the differences in policy execution by their city governments may be rendered irrelevant by nature if this week’s pollution alert emergency becomes a worrying regularity.
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The features is written up based on the market information and sentiment collected at China Iron & Steel Association's 18th China International Steel & Raw materials Conference 2018 in late September in Dalian, Northeast China’s Liaoning province, and it will be shared in three parts, this is Part 3.
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The features is written up based on the market information and sentiment collected at China Iron & Steel Association's 18th China International Steel & Raw materials Conference 2018 in late September in Dalian, Northeast China’s Liaoning province, and it will be shared in three parts, this is Part 2.
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The features is written up based on the market information and sentiment collected at China Iron & Steel Association's 18th China International Steel & Raw materials Conference 2018 in late September in Dalian, Northeast China’s Liaoning province, and it will be shared in three parts, this is Part 1.
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Chinese steel mills’ reaction varied to the possible “differentiated” curbing measures among them during the 2018 winter months, with some applauding the fairer touch while others concerned about the loopholes when inquired by Mysteel on Wednesday.
China’s Ministry of Ecology and Environment called for the local authorities at a government meeting
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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Plans by Tesla, the Palo Alto California-headquartered maker of electric vehicles in the US, to build its next Gigafactory - a combination of car- and battery-making plant - in Shanghai, East China, clearly reflect optimism about the strength of China's market for such vehicles but likely suppliers of components and materials remain cool, awaiting more details, Mysteel learned last Friday.
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Many overseas investors have already or are exploring steel investment opportunities in the ASEAN region as many ASEAN countries are with great market potential with their fast-growing economies, Mysteel understands from the market sources.
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Jiangsu Shagang Group, China's largest privately-owned steelmaker headquartered in Zhangjiagang, East China's Jiangsu province, promised solemnly on June 30 to rectify pollution issues within one hundred days including the steel slag dumping into the Yangtze River that has identified by China's Ministry of Ecology and Environment (MEE), according to a company release on Saturday.
