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Sydney, Shanghai 14 October 2021 – FEX
Global Australia and Mysteel today announced the signing of an agreement
whereby FEX Global will seek to settle certain FEX benchmark contracts against
the Mysteel IOSCO compliant price assessments, subject to regulatory approvals.
Brian Price, FEX Global Executive
Director, said “Mysteel has been assessing prices in the
domestic Chinese
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Nippon Steel, Japan’s largest integrated mill, will not produce crude steel at Kure area of Setouchi Works in western Japan anymore with the second and the also the last blast furnace shut down on September 29 as planned as part of the corporate restructuring, a company official confirmed on Wednesday.
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Bar-mill capacity utilization among steel producers in East China’s Jiangsu, the country’s second largest steel producing province after Hebei, is seen falling by over one-third this month as more steelmakers in the province halt operations to conduct “intensive” maintenance, according to Mysteel’s latest survey. The mills are responding to government directives to tame energy consumption.
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A total of 22 Chinese steel mills have plans to hold maintenance stoppages this month from a few days to as long as 90 days as of September 2, indicating that the central government’s determination to cut steel output is steadily progressing, a new Mysteel report has found.
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In July, Japan’s crude steel output including carbon and special steel rose by 32.5% on year to about 8 million tonnes, or the fifth consecutive month with an on-year rise, though it was 1.3% lower than in June, according to the latest data released by the Japan Iron & Steel Federation (JISF) on August 23.
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Kyoei Steel, Japan’s largest rebar producer, has decided to keep its prices for base-size rebars unchanged at Yen 90,000/tonne ($819/t) for bars produced at its four plants across Japan for September domestic sales, the company announced on August 23.
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The COVID-19 outbreak’s impact on the Japanese economy during fiscal 2020 (April 2020-March 2021) hit every production base at all three of the country’s integrated mills, newly-released data from mills published this week show. Most apparent are the drops at those works where blast furnaces were banked when steel demand tumbled, industry watchers noted.
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Osaka Steel, Japan’s largest steel section producer and a subsidiary of Nippon Steel, will add Yen 3,000/tonne ($27/t) onto its section list prices for August domestic sales, or the third consecutive month for its efforts to transfer rising production costs, a company official confirmed on July 28.
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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 sizable industrial firms posted a 137% on-year gain in their gross profits over January-March, which was also up 50.2% from Q1 2019, confirming their significant improvement in their financial performance, according to the release by the country’s National Bureau of Statistics (NBS) on April 27.
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Japan’s domestic ferrous scrap prices in the Kanto area around Tokyo, have shown signs of recovery after three weeks of declining by a total of Yen 13,500-14,500/tonne ($129-138/t), mainly on the support of active scrap shipping to mini-mills in western Japan, market sources shared on February 3.
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The softening of Japanese ferrous scrap prices which began in mid-January has accelerated over the past week, especially in the Kanto area around Tokyo, due to falling demand from mini-mills in the region, market sources observed on Thursday.
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Chinese steelmakers have announced intensive maintenance plans recently, and though overhauls are not uncommon during the usual winter lull in business, this year the mills are offering a variety of reasons for taking some major equipment items offline, citing everything from coke shortages to bitter cold.
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Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace at the Kashima Area of its East Nippon Works in Ibaraki prefecture, north of Tokyo. The steelmaker is responding to improving domestic steel demand, mainly from the country’s auto and machinery sectors, it said.
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The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s top steel production base, reversed up in December after sliding for the prior three months, gaining 0.9 basis point on month to 51.9, according to the latest release by the Hebei Metallurgical Industry Association.
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No one would have expected the steelmaking raw materials prices including iron ore, coke and scrap to have attempted multi-year highs in December, a usual off season for steel consumption and production, but the year 2020 had been proven anything but normal, and many iron ore traders ended their 2020 in frustration, as iron ore prices shot up for seemingly no reason at all.
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Nippon Steel Stainless Steel Corp (NSSC), Japan’s largest stainless producer, has decided to lift its December-February list prices for 300-series wire rod (January-March roll) to reflect higher nickel prices, the company confirmed on December 22. The price for 304 grade wire rods will be higher by Yen 15,000/tonne ($145/t), but that for NSSC’s 400-series rods will remain unchanged.
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Nippon Steel says the stoppage of a cold-rolling mill at its Nagoya Works in central Japan after last week’s fire impacted its operations less than had been expected, with most of the facilities at the mill restarted after a couple days and as of Wednesday, overall production at the mill had mostly returned to normal.
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Nippon Steel, Japan’s largest integrated mill, has been forced to halt operations on a cold-rolling mill at its Nagoya Works in central Japan after a fire broke out on the mill early on December 7, a company official confirmed. Market observers told Mysteel Global the incident could impact automotive sheet supply, just when domestic demand is active.
