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Japanese spot prices of heavy plate have risen by Yen 2,000-3,000/tonne ($18-27/t) over the past week, mainly on tighter supplies from producers and a rush of orders from dealers anticipating even higher prices ahead, sources in Tokyo said on Friday.
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Japan’s largest automaker, Toyota Motor, has informed its auto components suppliers that it will keep domestic vehicle production at above 13,500 units/day during July-September, Mysteel Global has learned.
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China’s shipbuilders received new vessel orders equivalent to 32.7 million dead weight tons (dwt) over January-May, skyrocketing by 182.6% on year, or almost the same as the 182.1% on-year rise for the first four months, according to the latest data released by the China Association of National Shipbuilding Industry (CANSI) on June 23. However, though the recovering international shipping market helped, the sensational increase was mainly due to the low base number in the corresponding period of last year, Mysteel Global notes.
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Japan’s crude steel output for all including carbon and special steel for May had been the highest month since June 2019, up 42.2% on year to about 8.42 million tonnes, or the third consecutive month with an on-year gain, Mysteel Global noted from the data released by the Japan Iron & Steel Federation (JISF) on June 22.
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The 64 countries worldwide saw their crude steel output up 14.5% on year to 837.5 million tonnes over January-May, or higher than the 13.7% on-year gain for the first four months, indicating that the global steel demand had been robust together with the steady recovery in many economies, Mysteel Global noted from the latest data released by the World Steel Association (WSA) on June 22.
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Production of rebars across China during January-May grew by 13.5% on year to nearly 110.9 million tonnes, according to the data released by the country’s National Bureau of Statistics (NBS) on June 21. The rate of growth was lower than the 16.9% surge for the first four months of this year, however.
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China’s excavator production totalled 235,183 units over January-May, or up 37.1% on year, lower than the 53% on-year growth for January-April, mainly as the output for May had been down on year for the second month, though in general, demand has been staying firm, Mysteel Global noted from the data released by the country’s National Bureau of Statistics (NBS) on June 22.
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Prices of carbon steel hot-rolled (HR) and cold-rolled (CR) sheets in Japan’s spot market have risen further over the past week, pushed up by producer price-hikes and slower deliveries by steelmakers to dealers, distributors in Tokyo explained.
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Over January-May, China’s production of all the four traditional white goods grew two digits on year by 10.2-37.3%, though the pace slowed from 14.2-44.8% for the first four months of 2021 due to lower on-month production in May, Mysteel Global noted from latest data released by China’s National Bureau of Statistics (NBS) on June 22.
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China Steel Corp (CSC), Taiwan’s top steel producer and a major carbon steel exporter to Japan, is negotiating with the Japanese buyers on possible price increases for August-October shipments, with the maximum rise possibly at Yen 40,000/tonne ($363/t), mainly to match the export prices to other countries and to reflect higher production costs and limited availability, a CSC official in Osaka shared on June 22.
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Kyoei Steel, Japan’s largest rebar producer, will keep its rebar base prices charged by all its four plants across Japan at Yen 90,000/tonne ($820/t) for July domestic sales, the Osaka headquartered mini-mill announced on June 21.
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The power supply constraints in the southern part of China, particularly in Guangdong and Yunnan provinces, had eased by mid-June thanks to power rationing to industrial enterprises, additional transmissions from the national grid, and increases in generation capacity utilization among local power stations, according to Meng Wei, the spokesperson of the National Development and Reform Commission (NDRC).
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Nippon Steel, Japan’s largest integrated steelmaker, has decided to add Yen 15,000/tonne ($136/t) to its tinplate price for domestic sales in July, taking into account higher input costs and supply tightness of base feeds, a company official confirmed on June 17, and this is the first increment for the very product since Nippon Steel’s previous increase by Yen 10,000/t in October 2019, sources shared.
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The COVID-19 outbreak led to a 15% on-year drop in the apparent steel consumption in the Philippines to 8.5 million tonnes in 2020, with demand down from the construction sector in particular, Ronald J. Magsajo, Director of Philippine Iron and Steel Institute, shared at the SEAISI 50th Anniversary e-Conference & Exhibition on June 17.
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China’s National Development and Reform Commission (NDRC) has publicized a 10-page trial version of regulations regarding commodities and service pricing indices compilation, release, maintenance, assessments, ownership transfer and discontinuation on June 17 on its website, which will be effective on August 1 for three years, with the aim to better maintain the related market orders and regulate the bulk commodities prices.
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China’s major fossil energy production and electricity generation in May continued to grow on year, though the paces of growth for some sectors such as natural gas and thermal power slowed from April, according to data from China’s National Bureau of Statistics (NBS).
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Japan’s finished carbon steel sales both to its domestic and overseas customers in April reached a new high since January 2020, or totalling 5.35 million tonnes, according to the latest data from the Japan Iron & Steel Federation (JISF) on June 16, and the volume had recovered to pre-pandemic level and it will probably stay on the uptrend, a JISF official commented.
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Osaka Steel, Japan’s largest steel section producer and a subsidiary of Nippon steel, has decided to add Yen 3,000/tonne ($27/t) to its section list prices for July domestic sales, making it the second consecutive month hike for the steel mill to partially offset rising input costs, a company official confirmed on June 17.
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China’s pig iron output grew 5.4% on year to nearly 380 million tonnes over January-May, which was much lower than the 13.9% on-year rise in the country’s crude steel output over the same period or lower than the 8.7% on-year growth for the first four months, Mysteel Global noted from the latest release by the country’s National Bureau of Statistics (NBS) on the afternoon of June 16.
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China’s crude steel output continued to grow rapidly over January-May, with the total volume surging 13.9% on year to 473.1 million tonnes, according to the latest release by the country’s National Bureau of Statistics (NBS) on June 16. However, the on-year growth has slower compared with the 15.6% on-year gain for the January-April period.
