-
Nippon Steel Engineering, the engineering arm of Japan’s largest steel producer, has received an order from Taiwan’s China Steel Corp to supply a large Coke Dry Quenching (CDQ) plant, NSE announced on November 26.
-
Japan’s domestic sales of stainless hot-rolled and cold-rolled coils and sheets from 32 coil centers recovered by 8.6% on month to 51,269 tonnes, though it was still 12% lower on year, according to the latest data from the Japan Stainless Coil Center Association (JSCA) on November 26, indicating the domestic demand has been recovering gradually, market sources shared.
-
China’s four top governing organizations released a joint release on November 25, reaffirmed the country’s banning of solid wastes imports starting January 1 2021, which has created mild panic in domestic ferrous and nonferrous communities, fearing that Beijing was reversing earlier plans to liberalize imports of such scraps, though industry insiders stayed calm, reminding all of the exact definitions in the document.
-
China’s rebar prices in spot market declined further on November 26 on the overall dampened market sentiment with the cold weather enveloping most parts of China, though the daily construction steel trading volume recovered modestly, Mysteel Global noted.
-
Total stocks of finished steel held by Chinese traders declined at a slower pace over November 20-26 as many regions in China were hit by suddenly plummeting temperatures, heavy rains and snowfalls, causing a parallel freezing of demand, Mysteel Global has learned.
-
China’s rebar price retreated on November 25 after refreshing its one-year highs continuously this month. Long steel sales continued to weaken in the spot market amid strong cold waves in many domestic regions, according to Mysteel’s tracking.
-
China Baowu Steel Group (Baowu), China’s and also the world’s top steel producer in capacity, has been taking no break in its expansion in capacity and inner strength enhancement at the same time, with the latest move to solidify its footing in Northwest China via acquiring existing steel mill and iron ore mines, Mysteel Global noted.
-
Chinese steel mills raised their steel export offers last week and again this week, even though domestic steel prices have started showing signs of weakening and when global demand is not so strong, Mysteel Global has learned.
-
Chinese steel prices are expected to remain rangebound in the weeks ahead, according to the latest monthly report of the China Iron & Steel Association (CISA) published on November 20, which noted that as the weather in northern China turns gradually colder, the country will enter the off-season for steel consumption.
-
Toyota Motor, Japan’s largest automaker, has informed its auto component suppliers that it will keep domestic vehicle production at above 13,000 units/day until February, industry sources in Nagoya and Tokyo said on Wednesday. The projected daily rate will be slightly lower compared with previous months, but the level remains high overall, meaning that steel consumption by the company and its vast network of components suppliers will likely stay firm, they said.
-
Crude steel output amongst the 64 countries under the monthly survey of the World Steel Association (WSA) amounted to 1.5 billion tonnes over January to October, down 2% on year, according to new WSA data. But the pace of the decline had slowed by 1.2 percentage points from January-September result, indicating that steel producers globally are gradually emerging from the impact of the COVID-19 pandemic.
-
Daily crude steel output among the member mills of the China Iron & Steel Association (CISA) slipped further over the middle ten days of November to reach a five-month low of 2.11 million tonnes/day, down another 1.5% from that over November 1-10, according to the association’s latest data released on November 24.
-
Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace located in the Kimitsu Area of its East Nippon Works in Chiba prefecture, near Tokyo, to respond to improving steel demand from consumers, especially auto makers.
-
Japan’s crude steel production in October including both carbon and special steel declined by 11.7% on year to some 7.2 million tonnes, making for the eighth consecutive monthly on-year decrease, according to the latest data released by the Japan Iron & Steel Federation (JISF) on November 24.
-
China’s price of HRB400 20mm dia rebar lost Yuan 20/tonne ($3/t) on day to Yuan 4,154/t including the 13% VAT as of November 24, Mysteel’s data showed, the first on-day decline since November 17. Actual sales weakened drastically amid temperature drops.
-
Steel exports, after a highly subdued festive season across the country, are mirroring the same trend in November, 2020. Traders SteelMint spoke to said that there has been no activity in exports in the current month.
-
The annual information exchange between steel industry officials in Japan and Taiwan held recently identified no major outstanding issues. “Steel trade between Taiwan and Japan is currently smooth,” an official from Japan’s Ministry of Economy, Trade and Industry (METI) commented on Tuesday. In previous years, Japanese exports of heavy sections had been a source of friction, but those tensions have eased, Mysteel Global understands.
-
Tangshan Q235 150mm square billet price, weathervane of China’s steel market development, reversed down after continuous increase since November 16. It decreased by Yuan 30/tonne ($9.1/t) on day to Yuan 3,590/t EXW and including the 13% VAT as of November 23. Downstream buying retreated with bleak winter coldness blanketing the majority of China.
-
Daily crude steel production among the 318 Chinese steel mills under Mysteel’s survey reversed down by 0.4% from the prior ten days to 2.94 million tonnes/day over November 11-20, according to Mysteel’s latest release on November 21. The 318 steel producers comprise 247 blast-furnace (BF) and 71 electric-arc-furnace (EAF) mills across China.
-
Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has raised its long steel ex-work prices for the third pricing term over November 21-30, with rebar up another Yuan 50/tonne ($9.1/t) and wire rod and high-speed coil prices up more substantially by Yuan 200/t from the levels over November 11-20.
