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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.
