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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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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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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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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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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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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.
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China Steel Corporation (CSC), Taiwan's top steel producer headquartered in Kaohsiung, South Taiwan, is undertaking an extensive revamp of a hot stove feeding hot air to the No.3 blast furnace, a company official confirmed on May 11.
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Chinese domestic prices of rebar should continue tracking upward over the short term as market players envisage the robust demand for the construction steel product continuing to linger, market sources shared on April 24. But they warned that prices were unlikely to refresh last December's 74-month high anytime soon.
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The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province, the country's core steel production base, dropped by 2.24 basis points month on month to 47.6 in February, falling below the threshold of 50 for the fifth consecutive month, according to a March 1 release by Hebei Metallurgical Industry Association.
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Daily crude steel output among China's major steel mills reverted down by 1.26% or 22,500 tonnes/day from January 11-20 to around 1.76 million t/d over January 21-31, according to the latest statistics released by the China Iron and Steel Association (CISA) on February 12.
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Taiwan's biggest steel producer, China Steel Corp (CSC), is in the process of relining its No.3 blast furnace since October as planned, and the maintenance will last until end of February, a company official confirmed Tuesday.
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China's blast furnace capacity utilization rate may refresh new lows in the coming weeks as many more steel mills will join in the blast furnace annual maintenance on the weekend of November 25-26, Mysteel understands from the market.
