We keep close relationship with most Chinese mills as well as S Korean mills Japanese mills and European mills etc And we also set up good partnership with many world famous steel trading companies such as ZMI SUMEC CIEC CampD ITG Metal One Duferco Sumitomo Marubeni SK etc.
China Baowu Steel Group the countrys top steelmaker by output has agreed to take a controlling stake in Taiyuan Iron amp Steel Group Co Ltd TISCO in the latest consolidation of the countrys.
China the worlds biggest steel producing country has called for steel consolidation to achieve orderly market competition and reduce emissions.
Since its creation through a merger of Baoshan Iron amp Steel and Wuhan Iron amp Steel in 2016 Baowu Group has expanded by acquiring Maanshan Iron amp Steel 600808 SS in 2019 and aims to take control of Chongqing Iron amp Steel 601005 SS.
A controlling stake in TISCO will help Baowu achieve a goal of producing 100 million tonnes of steel per year and enhance its overall competitiveness in the stainless steel sector Baowu said in a statement.
An analyst who declined to be identified said the deal could give Baowu more influence over stainless steel pricing in China which is dominated by Tsingshan Holding Group.
MANILABEIJING Reuters Chinese steel producers ran up losses for the first time in three years this month as prices slid into a bear market on weak demand and near record supply ending years of solid profit margins.
And with the worlds No 2 economy cooling and facing increased risks from a growing trade war with the United States Chinas steelmakers are likely to feel more pain unless Beijing launches fresh stimulus measures traders and analysts say.
Amid tumbling prices Chinese mills which make half the worlds steel are reining in costs by returning to cheaper low grade raw material iron ore in a boon for miners like Australias Fortescue Metals Group FMG AX.
Chinas steel production hit a record 82 55 million tonnes in October but steel prices and margins have since shrunk as China dialed back on winter output curbs aimed at cutting smog while demand weakened as cold weather slows the construction sector.
Jun 29 2020nbsp018332Chinas steel mills mainly use blast furnaces which limits the amount of scrap used to about 20 of inputs although there are opportunities for a shift in the longer term.
Chinas steel producers had been in party mode since 2016 when prices doubled as a strong infrastructure push boosted demand and supply tightened as the countrys tough anti pollution campaign disrupted production.
Beijing also removed 140 million tonnes of low end steel capacity in 2017 equal to about 17 percent of that years total output.
Profit margins surged to a record 1 706 yuan 246 a ton for rebar and 1 326 yuan for hot rolled coil in December 2017 and have stayed high this year pushing mills to ramp up output.
But as demand began to falter this month mills were left with surplus steel compounded by more lenient production curbs this winter as China allowed regions to set their own output restrictions based on emission levels.
Weekly raw steel production report for the U S This Weeks Raw Steel Production In the week ending on September 5 2020 domestic raw steel production was 1 428 000 net tons while the capability utilization rate was 63 7 percent Production was 1 813 000 net tons in the week ending September 5 2019 while the capability utilization then was 78 0 percent.
Sep 08 2020nbsp018332Bloomberg The Chinese steel industry has benefited more than most as its economy takes the lead in emerging from the coronavirus crisis and supply is hard pressed to keep up with demand It means that Chinas beaten down steel stocks led by top producer Baoshan Iron amp Steel Co.
Aug 11 2020nbsp018332That has translated to buoyant conditions for steel mills In May alone a record 92 million tons was produced more than the U S steel industry has made in any year since 2007 Despite a.
HR amp CR Wire Rod amp Rebar Plates Coated amp Plated Pipe amp Tube Strip Billet Section Stainless Steel Raw Materials Iron Ore Coal amp Coke Ferroalloy Scrap Pig Iron Freight.
TISCOs stainless steel is used more in high end products the analyst said.
TISCO Chinas second biggest stainless steelmaker after Tsingshan has an annual steel capacity of 12 9 million tonnes including 4 5 million tonnes of stainless steel.
Oct 29 2019nbsp018332Trumps tariffs caused a temporary lift for the U S steel industry but now its future looks bleaker with falling prices oversupply and layoffs.
As the first integrated steel mill in Korea Posco has grown to produce 41 million tons of crude steel a year and has grown to become a global business with production and sales in 53 countries in the world POSCO has continued to contribute to the development of mankind through endless innovation and developments in technology.
Steel Production in the United States increased to 5241 Thousand Tonnes in July from 4746 Thousand Tonnes in June of 2020 Steel Production in the United States averaged 7874 41 Thousand Tonnes from 1969 until 2020 reaching an all time high of 11951 Thousand Tonnes in May of 1973 and a record low of 3799 Thousand Tonnes in April of 2009 This page has Steel Production values for United States.
Mar 23 2016nbsp018332Chinas government owned and supported steel industry represents almost half of the worlds steelmaking and more than half of the worlds overcapacity capacity utilization at domestic mills.
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