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JFE Steel, Japan’s second largest integrated steelmaker, has lifted all its construction steel prices other than H-beams by Yen 5,000/tonne ($48/t) for new bookings from the domestic buyers starting this week, a company official confirmed on September 23.
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Nippon Steel, Japan’s largest integrated mill, have been mulling the restart of two idled blast furnaces in the second half of fiscal 2020 (October 2020-March 2021) on noting the steady improvement in steel demand from the country’s auto sector, a Nippon Steel official confirmed on September 4.
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Nippon Steel, Japan’s largest integrated mill, has reignited the halted blast furnace with an inner volume of 2,650 cu meters on August 20 at its Kure area of Setouchi Works in western Japan after a halt over August 14-19, and its steel production has not been affected much, a company official confirmed on August 28.
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Japan’s ferrous scrap prices for both domestic sales and exports rose another $5/t on week over July 27-31, or up for the fourth week as inquiries from the overseas customers remained active, offsetting the lull from the domestic market with many mill under the summer maintenance, traders in Tokyo and Nagoya in central Japan shared.
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China’s consumption of steel with construction steel in particular is expected to recover in August from the rainy and flooded July, partly due to the catch-up of progress at the construction sites in South and East China after the adverse weather, Mysteel predicted in its latest monthly report.
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Japan’s ferrous scrap prices for both domestic sales and exports rose further by $5/tonne on week over July 20-22, as domestic steel mills procured more for the longer weekend with the national holidays over July 23-24, though Japanese market sources expected domestic scrap consumption to reduce with the domestic steel producers’ imminent summer maintenance.
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A quick look at how China's economy and steel market performed in the first half of 2020.
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Nippon Steel, Japan’s largest integrated mill, has suspended 30% of its molten iron capacity by having halted some of its blast furnaces as planned, according to a company official on July 22.
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Anna and Olivia will be discussing some of the key topics discussed during the 2020 SEAISI e-Conference, ASEAN's flagship steel industry conference.
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Kyoei Steel, Japan’s largest rebar producer, will keep its August rebar prices unchanged from July but remains determined to lift prices as soon as market conditions allow, the Osaka-based mini-mill announced on July 15.
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Tokyo Steel Manufacturing, Japan’s leading electric-arc-furnace mill, has decided to keep its carbon steel prices unchanged for August sales, waiting until the market has been accustomed to and accepted the price hike in July, Kiyoshi Imamura, sales managing director of the company confirmed on July 15.
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Starting this month, most steel producers in Tangshan, China’s top steel producing city in North China’s Hebei province, could find themselves forced to halt some facilities including blast furnaces and sintering machines perhaps for as long as three months, as part of production restrictions on industrial enterprises to control pollution and improve air quality, according to a draft seen by Mysteel Global.
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Unlike the previous years, Japan’s electric-arc-furnace (EAF) mills will not stock up much finished steel for sales in July-August, even though their plants will be shut down for about one or two weeks to reduce power usage as usual during the country’s peak power consumption in summer, as demand in 2020 has been too stagnant, mini-mill sources confirmed on June 19.
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Click here for part 1 of the feature
High
steel output and stocks to persist in H2
The unsolvable
uncertainties in demand will only lead to the rises in finished steel
inventories on the zealous output, which will test the Chinese steel market
resilience in the latter half of 2020, keeping the market participants always
on their
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Nippon Steel, Japan’s largest integrated mill, has delayed the banking of No.2 furnace at its Kimitsu works near Tokyo by about a month until mid-June, as it has not been able to fulfill the signed contracts by mid-May, the company’s spokeswoman explained on June 4.
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Shagang Group, China’s largest private steelmaker headquartered in East China’s Jiangsu province plans to halt steel making and rolling facilities including blast furnaces and electric arc furnaces (EAF) since middle April for regular maintenance, a Shagang official confirmed to Mysteel Global on April 9.
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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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Shagang Group, China’s largest privately-owned steel producer and top rebar mill in East China’s Jiangsu province have idled two rebar rolling lines for maintenance according to the original schedule instead of any forced move by the ongoing battle against the Novel Coronavirus Pneumonia (NCP), a company official reiterated on Friday.
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A number of Chinese steel producers have opted to scale down their crude steel production by conducting maintenance on their furnaces as the counter measure against the market quietness because of the Novel Coronavirus (2019-nCoV) outbreak, Mysteel understood from related surveys.
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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.
