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The softening of market demand for steel in winter, particularly for long products, has encouraged Chinese steelmakers to arrange intensive maintenance programmes, market sources shared on Friday, with stoppages already begun at some producers.
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Many electric-arc furnace (EAF) steelmakers across China have returned to the market to procure scrap after gradually resuming production following stoppages for maintenance, according to Mysteel’s latest survey released on September 25. Others whose furnaces are still switched off are nonetheless preparing to re-enter the market as the profit margins available for EAF producers are increasing, respondents said.
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Fourteen major steelmakers in North China’s Beijing-Tianjin-Hebei region which Mysteel regularly monitors plan to deliver fewer long steel products to the local physical market this month, according to the results of a study Mysteel released on Wednesday. Many among the group are still observing production restrictions or have stopped lines for normal maintenance, so they anticipate their steel output will be reduced this month.
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A growing number of Chinese steelmakers have recently joined the others announcing their maintenance plans on their steelmaking or rolling facilities starting July as the country has been into the hot summer when the demand for steel usually subsides.
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The capacity utilization among blast furnaces operated by 247 Chinese steel plants nationwide under Mysteel’s weekly survey kept sliding over March 1-7, down another 1.92 percentage points on week to 76.96%, or a new low since January 25, according to Mysteel’s latest survey released on March 8.
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As of March 4, a total of 27 Chinese steel producers nationwide were known to have or will start their regular minor or major maintenance on their facilities in March, lasting from a week to as long as 90 days, which is expected to slow down the flow of finished steel supplies into the Chinese market this month, market sources shared on Tuesday.
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After lagging behind their counterparts in most other provinces by several weeks, steelmakers in North China’s Shanxi province have launched a maintenance blitz that will see all nine of the province’s major steel producers overhauling blast furnaces and rolling facilities from late February through until early March, company data collected by Mysteel shows.
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Leading Chinese commodity market intelligence agency Mysteel has successfully completed an external assurance review of its iron ore price indices in relation to the IOSCO Principles for Financial Benchmarks.
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The cooling of steel demand now that winter has taken hold across most parts of China has led many more steelmakers to announce maintenance plans this month, Mysteel has learned from market sources.
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Other than the steel industry, coking industry has been a primary target in Beijing’s battle against air pollution too for 2018, as China’s central government has intensified the efforts in the aspect to improve the air quality in the core Beijing-Tianjin-Hebei region.
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung, Central Taiwan, has decided to roll over its domestic sales prices for rebar and its procurement prices for locally-sourced scrap for the current August 27-31 week after a cut of TWD 200/tonne ($6.5/t) for both prices last week, a company official told Mysteel on August 28.
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Mysteel’s latest survey released on August 17 showed that the capacity utilization rate of blast furnaces at 247 Chinese steel plants regularly checked inched up by a tiny 0.04 percentage point on week during the week of August 10-16 to 79.16%.
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Most iron ore mines in Huoqiu, Central China’s Anhui province, have been on halt since July 25 amid the safety and environmental protection inspections, and the resumption dates remain unclear, market sources and a local government official confirmed.
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Feng Hsin Steel, Taiwan’s largest rebar producer, will be idling upstream and downstream facilities at its Taichung city works in Central Taiwan over the coming few weeks to undertake annual maintenance while the usual curbs on industrial electricity use are in force over summer, a company official has confirmed.
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Jiangxi PXSteel Industrial Co (Pinggang), a leading construction steel producer in East China’s Jiangxi province, has suspended its blast furnaces and sintering plants for five days starting August 6 as the steel mill is going through environmental protection inspections, according to Mysteel’s market monitoring.
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Merchant coke producers in Xuzhou, a major production base for the material in East China’s Jiangsu province, are firing up their plants once more after being idled for as long as two months while their pollution control systems were inspected.
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The economic impact from the torrential rains which caused massive devastation to many parts of western Japan late last week and into the weekend is expected to be huge though steelmakers with plants in the affected areas seem to be escaped the worst.
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Shagang Group, China's largest privately-owned steelmaker headquartered in Zhangjiagang city, East China's Jiangsu province, has raised its rebar list price for the third time, up another Yuan 100/tonne ($15.5/t) for sales during June 21-30, according to the company's latest pricing policy released on June 21.
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China's domestic steel prices are likely to be rangebound in the near term throughout June, and supplies have been on the rise, offsetting the efforts by the Chinese mills and traders in destocking, market sources shared on May 15.
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Blast furnace (BF) capacity utilization across 247 steel mills nationwide surveyed by Mysteel moved up further by 1.33 percentage points on week to 79.12%, Mysteel's latest survey published on May 11 indicated. Mills surveyed cited the further resumption of production while they could enjoy healthy profits.
