After more than two years of preparation, Taiyuan Iron & Steel (Group) Co (TISCO), China’s leading stainless steel producer based in Taiyuan in North China’s Shanxi province, has decided to abandon its acquisition of Linyi Xinhai New Materials Co (Xinhai), China’s largest ferronickel producer, according to details revealed at a roadshow held by TISCO on June 24.
Daily crude steel output among the 97 member mills of the China Iron and Steel Association (CISA) increased further over June 11-20, refreshing a new high to average 2.14 million tonnes/day, according to CISA’s release on June 24, higher by another 33,100 t/d or 1.6% from the prior ten days. The mills were eager to capitalize on the still-reasonable profit margins they could earn and so stepped up production, as Mysteel Global has been reporting.
China’s national HRB400 20mm dia rebar price reversed down by Yuan 9/tonne ($1.3/t) on day to Yuan 3,793/t including 13% VAT as of June 23, losing losing all the gains over June 19-22, according to Mysteel’s assessment, and the daily trading volume remained largely stable though traders admitted the growing difficulty in receiving payments from the end-users.
周刊：中国由$ 5 /牛逼提高螺纹钢出口价格2020年6月23日
Over June 13-19, China’s steel exporters had raised their offering prices of the B500B 18-25mm rebar by another $5/tonne on week to $441/t FOB Shanghai port on average, in contrast to the recent softening in China’ domestic steel prices together with the weakening in demand in the rainy season.
Japan’s crude steel output including carbon and special steel dropped more substantially in May, down 31.8% on year to about 5.9 million tonnes, as against the 23.5% on-year fall in April, which was mainly due to the negative impact of the pandemic on steel demand, according to the latest data released by the Japan Iron & Steel Federation (JISF) on June 22.
Carbon steel sales at China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, continued to drop in May, sliding by another 14.8% on month to 730,444 tonnes, the lowest record since March 2015, a company official confirmed. Steel demand both at home and abroad had not recovered last month, he admitted.
China’s daily crude steel production continued to edge up over the middle ten days of June, with the tonnage growing by another 27,500 tonnes/day or 1% from the prior ten days to average 2.92 million tonnes, according to Mysteel’s latest survey among the country’s 247 blast-furnace and 71 electric-arc-furnace steel producers.
After over 42 years of “opening up policy” execution since 1978, China has reignited its economic engine, trying to set up a new economic development model in Xiong’an New Area in North China’s Hebei province, just like the Shenzhen Special Economic Zone back in 1980, and the difference is that Xiong’an is not about trade, it is about eco-friendly and high-end industries and well-designed landscape with digitalization and artificial intelligence being the core elements.
Shagang Group, China’s largest long steel supplier, has rolled over the prices of all its major long steel products from mid-June for domestic sales in the last ten days of June, though the spot transaction price has softened modestly in the past ten days on the softening demand amid rainfalls in South and then East China.