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Tsingshan Holdings, China's top stainless producer, has commissioned the third and final phase of its stainless rolling plant in Indonesia's central Sulawesi province, the company has announced. The formal commissioning on June 20 added 1 million tonnes/year of stainless rolling capacity to take total capacity to 3 million tonnes/year. Earlier announcements from East China-based Tsingshan refer to stainless hot- and cold-rolling capacity being built at the plant but details are not known. Tsingshan officials refused all comment to Mysteel.
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China's stainless steel industry will remain its capacity largely unchanged at 37 million tonnes/year for 2018 as against 36 million t/y in 2017, though it may grow steadily afterwards with new projects to replace existing facilities with low efficiency, Liu Yanping, Secretary General of Stainless Steel Council of China Special Steel Enterprises Association, said at the 3rd China Ferrous Derivatives International Conference in Shanghai on June 21.
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Beijing-headquartered China Oil & Foodstuffs Corporation (COFCO), China's top importer of agricultural products but also in steel and metallurgical products trading, will turn its recently-acquired Zhongyuan Special Steel into an investment and fund management arm via asset swaps, according to a Zhongyuan official's sharing on June 13.
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Taigang Stainless Steel Company, China's top stainless producer and headquartered in Taiyuan city, North China's Shanxi province, has decided to lift its list prices for 300-series stainless products by Yuan 500/tonne ($78/t) while slashing prices of its 400-series products by Yuan 300/t for June sales, according to the mill's latest pricing policy officially disclosed on Tuesday.
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Afrochine Smelting Co, the ferroalloys subsidiary of China's Tsingshan Group in Zimbabwe in southern Africa, is proposing to build a steel mill with 2 million tonnes/year capacity in the capital Harare, market sources shared on June 13. Business representatives from East China's Zhejiang province signed a memorandum of understanding (MoU) with Zimbabwe government representatives in Harare on June 11.
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Baoshan Iron & Steel (Baoshan Steel), China's largest flat steelmaker headquartered in Shanghai, is adding Yuan 1,000/tonne ($156/t) to the list prices of its stainless plate for July sales from its Baoshan and Dongshan bases, largely to offset its higher input costs, according to the steel company's latest pricing policy tabled Monday.
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The global market for stainless steel table and kitchenware will jump by over 40% over the next five years to reach $33 billion, according to a report released by Stainless Steel Council of China Special Steel Enterprises Association on June 6, but how much of this business Chinese stainless makers might enjoy is unclear.
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Mysteel's High-carbon ferrochrome price with 60% Cr content in North China's Shanxi province reached Yuan 7,200/tonne ($1,143/t) including 16% VAT as of June 6, climbing by Yuan 200/t on month after having staying sluggish for three months, according to Mysteel's data.
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The closing morning-session price of the most traded nickel contract on the Shanghai Futures Exchange - that for September - recorded a new high since March 2015 to reach Yuan 118,100/tonne ($18,746/t) as of June 6, soaring by Yuan 2,210/t compared to the settlement price the previous day.
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Baosteel Stainless Steel Co, a subsidiary of China Baowu Group, has permanently shut down its carbon and stainless slab mills on June 1 in Baoshan district, East China's Shanghai, after 17 years of operations, moving the capacity to South China, a company official confirmed on June 5.
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Chinese stainless steel maker Taiyuan Iron & Steel Group (TISCO) signed a cooperative structure agreement with Xishan Coal Electricity Group (Xishan Group) on June 1 to enhance their cooperation in aluminum, officials from both companies confirmed on June 5.
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The most-traded nickel contract on the Shanghai Futures Exchange (SHFE) for July closed at Yuan 114,820/tonne ($18,226/t) on May 31, with the closing price up Yuan 10,080/t or 10% on month and hitting a historic high. SHFE watchers cited the global shortage of the metal to explain the jump.
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Liuzhou Iron & Steel Group (Liugang Group), headquartered in Liuzhou city in South China's Guangxi Zhuang Autonomous Region, plans to install two 630 cu metre blast furnaces under a steel capacity swap plan the steelmaker has placed for public review on the website of Guangxi's provincial Commission of Industry and Information.
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The forced closures of induction furnaces in Dainan county, a major stainless steel production center in East China's Jiangsu province, threatens to cause a temporary supply shortage of stainless bar and wire rod, market sources in the area tell Mysteel. Prices of austenitic wire rods have jumped over the past week following news of the crackdown.
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China mulls differentiating curbing measures among Chinese steel mills during the 2018 winter months depending on their individual waste emission situation, Wang Libin, President of Shijiazhuang Municipal Research Academy of Environmental Science, shared at a panel discussion at the Singapore Iron Ore Forum on May 24.
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The US Department of Commerce's final affirmative ruling announced last week on corrosion-resistant steel (CORE) and certain cold-rolled flat products imported from Vietnam - which slaps hefty penalties on these for their incorporation of hot rolled and cold rolled coil substrate originating in China - is being brushed aside by Chinese industry insiders.
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The price of stainless 304/No.1 5mm hot-rolled coil in Foshan, one of China's core stainless trading hubs in South China's Guangdong province, has soared by Yuan 2,600/tonne ($413/t) or 22% as of May 16 - from the one-year low it hit on June 12 last year - and is now at Yuan 14,200/t in-warehouse including the 16% VAT, according to Mysteel's database. But the surge from last year's trough of Yuan 11,600/t is mainly due to the rise in raw materials prices and not the result of a huge change in demand.
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Shanxi Taigang Stainless Steel (TISCO), the listed arm of Taiyuan Iron & Steel Group Co, says the suspension of trading in its shares on the Shenzhen Stock Exchange which took effect from mid-April will be extended for another month while it finalizes an acquisition, according to a company report on May 16.
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Diversified materials and heavy industry firm Zhenshi Holding Group, headquartered in Jiaxing in East China's Zhejiang province, plans to build a nickel pig iron smelter on Gebei Island in East Indonesia's Maluku province which will be three times larger than its existing smelter there, a company official confirmed on May 10.
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Guangxi Dingfeng Stainless Steel Co, headquartered in Wuzhou city in Southwest China's Guangxi Zhuang Autonomous Region, plans to commission its 300,000 tonnes/year stainless steel cold-rolled strip mill in June, a company official confirmed on May 10.
