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As per data maintained with SteelMint, exports log of South Korea for the month of Jan’20 is as follows:
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As China’s fight against Novel Coronavirus Pneumonia (NCP) continues to show encouraging signs of progress of late, more Chinese enterprises have been resuming operations after this year’s extended Chinese New Year holiday break. Several provinces have reported that over 70% of the industrial enterprises they host have restarted work, Mysteel learnt from announcements of local authorities on February 19.
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
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Mysteel’s national average HRB400 20mm dia rebar benchmark continued to soften on Thursday to refresh its 33-month low to Yuan 3,668/tonne ($524/t) but trading improved significantly thanks to the gradual recovery of downstream demand.
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The Shanghai Futures Exchange (SHFE) successfully delivered its first stainless futures contract for February 2020 on Thursday, with the settled volumes totaling 1,860 tonnes and valued at Yuan 24.5 million ($3.5 million). Making the deliveries were stainless steel producers and trading companies, an SHFE official confirmed. The deliveries involved mainstream stainless cold-rolled coil brands.
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China’s domestic steel prices may stabilize in the coming days with the gradual recovery in domestic demand, the China Iron & Steel Association (CISA) stated in its latest monthly report on February 19. More steel-consuming enterprises and construction sites may resume operations starting next week in response to the central government’s measures to facilitate progress, the association suggested.
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Rebar rolling capacity utilization rate at the 22 sampled steel producers in Jiangsu of East China, the country’s largest rebar production base, fell to 40.2% as of February 18, a record low since March 2015, as they had been forced to scaled down production amid high stocks and constraints of raw materials supply and manpower amid the ongoing fight against Novel Coronavirus Pneumonia (NCP), according to a Mysteel’ market survey.
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List prices for carbon steel billet offered by blast furnace mills in Tangshan in North China’s Hebei province, the country’s largest billet supplier, have slid to a three-year low as operations at most of the city’s re-rollers have remained suspended, Mysteel Global observed.
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China's national average benchmark price for HRB400 20mm dia rebar decreased another Yuan 16/tonne ($2.3/t) on day to Yuan 3,677/t including the 13% VAT as of February 19, though it was still at a 33-month low. Steel demand remained largely weak though it was encouraging that construction steel spot trading volume had been recovering gradually.
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The outbreak of Novel Coronavirus Pneumonia (NCP) in China since the beginning of this year has been affecting all commercial activity and the business of exporting steel has been no exception. But Chinese steel export market insiders canvassed by Mysteel Global earlier this week saw both negative and positive influences.
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Zhangjiagang Pohang Stainless Steel Co (ZPSS), a stainless steel producer in Zhangjiagang in East China’s Jiangsu province, plans to suspend upstream and downstream production from Thursday given the pressure it is facing from the accumulation of stainless stocks, Mysteel Global learned from the market.
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China’s January sales of excavators at the domestic market and exports fell on year for the first time since last June, down 15.4% on year to 9,942 units, according to the latest data released by the China Construction Machinery Association (CCMA) on February 19, because of a shorter working month with the Chinese New Year (CNY) holiday in late January and substantial declines in domestic sales.
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State-owned Asset Supervision and Administration Commission (SASAC), a ministerial-level organization under the direct governance of China’s State Council, called for China’s state-owned construction and engineering companies to “conquer the hardship caused by Novel Coronavirus Pneumonia (NCP) and resume work as soon as possible” in its post on the website on February 15.
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Chinese steel exporters continue to slash offer prices aiming to boost overseas sales to offset the impact that the Novel Coronavirus Pneumonia (NCP) outbreak is having on their domestic sales, market sources indicated on Monday.
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Daily crude steel output among the 97 major steelworks members of the China Iron and Steel Association (CISA) reversed down during the first ten days of February after the continuous rally seen last month, with the tonnage down 53,500 tonnes/day or 2.68% from the average level for late January to reach 1.94 million t/d, according to the association’s latest release on February 15.
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China’s stainless steel stocks for the traders under Mysteel’s weekly survey in Wuxi, a key stainless trading hub in East China’s Jiangsu province rose to 390,697 tonnes as of February 14, or a new high since Mysteel commenced the survey in July 2008, as the ongoing battle against the Novel Coronavirus Pneumonia (NCP) has stalled both the demand and transportation.
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As of February 14, Mysteel’s national average price for HRB400 20mm dia rebar declined another Yuan 12/tonne ($1.7/t) on day to Yuan 3,730/t, while Tangshan Q235 150mm square billet price had remained unchanged since January 13 at Yuan 3,300/t EXW as of February 16, both including the 13% VAT, and spot sales of construction steel stayed low.
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As of February 13, nearly 60% of Chinese steel producers had resumed operations after the Chinese New Year (CNY) holiday over January 24-February 2, but the production status varies widely among the three different types of steel producers, according to Mysteel’s latest investigation across 231 domestic steel mills.
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Five major finished steel stocks at the 184 Chinese steel mills under Mysteel’s weekly survey shot up to a nearly five-year new high of 11.5 million tonnes as of February 12, as sales to the domestic downstream users have been slow and deliveries to the traders have been stalled, both because of the ongoing battle against the Novel Coronavirus Pneumonia (NCP) outbreak, according to the latest survey.
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China’s auto-manufacturers and motor dealers got off to a bumpy start this year, with January vehicle output and sales plunging on-year and on-month, according to a grim prediction made by the China Association of Automobile Manufacturers (CAAM) based on data gathered from key enterprises and groups. The long Chinese New Year holiday late last month was chiefly to blame for the falls, CAAM explained.
