According to data from the National Bureau of Statistics, China's crude steel production in June 2024 was 91.617 million tons, a year-on-year increase of 0.2%; from January to June, China's crude steel production was 530.572 million tons, a decrease of 1.1% year-on-year.
Looking at the data by province and city, Hebei topped the list with a production of 113.4853 million tons from January to June 2024; Jiangsu came in second with 62.5792 million tons; Shandong was third with 38.1031 million tons.
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Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
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Since July, the nickel iron market has been quite sluggish with sporadic inquiries but no actual transactions. Suppliers are finding it difficult to negotiate a lump-sum price, mainly relying on long-term agreements. Only one public lump-sum transaction was recorded in the middle of the month, with the latest transaction landing at 980 yuan/nickel (inclusive of tax upon arrival). However, the market has not shown significant fluctuations, and the wait-and-see attitude remains, with a clear divergence in price between supply and demand.
Nickel ore prices from the Philippines remain high, and the domestic market for high-grade nickel ore is quite cold, with 1.4% grade ore priced at 41-42 USD/wet ton, which is not well accepted by domestic iron plants. Only low-nickel high-iron ore Ni: 0.9% can still be traded at 37 USD/wet ton.
Affected by downstream pressure, the domestic nickel iron market is under pressure and is weakly running. Iron plant costs are significantly reversed, and profits are hit, leading to iron plants taking measures to reduce production to cope with losses. Apart from necessary production, iron plants have a low willingness to purchase existing high-priced nickel ore raw materials. Currently, the highest spot cost of domestic RKEF nickel iron plants has reached 1027 yuan/nickel, with the lowest profit margin at -5.59%.
Indonesian nickel ore supply is limited, and local factories have increased their demand for nickel ore imports to meet normal production needs. Especially the shipment volume of nickel ore from the Philippines to Indonesia has increased significantly. Although Indonesian iron plants are profitable, their profit margins are also narrowing. Currently, the highest spot cash cost of Indonesian nickel iron is close to 900 yuan/nickel, with the lowest profit margin recovering to 5.6%.
In July, stainless steel futures and spot prices remained weak, with more declines than increases. The market lacks confidence in the future and holds a bearish expectation. Stainless steel production in July has decreased. According to Mysteel statistics, the production in July is 3.2467 million tons, a decrease of 1.27% month-on-month, of which 300 series is 1.5764 million tons, a decrease of 4.64% month-on-month, and 7.19% year-on-year. In addition, affected by weakening demand, the de-stocking speed of stainless steel social inventory has slowed down, and the social inventory is at a high level compared to the same period last year.
Although the nickel iron price is currently weak, the downside is limited. The main reason is that both domestic and foreign iron plants have reduced nickel iron production capacity. The reduction and suspension of production by domestic iron plants due to profit losses have led to a reduction in capacity, while Indonesian iron plants, driven by profits, have shifted more nickel iron production lines to high-nickel lines. In addition, the shortage of nickel ore supply has led to a reduction in nickel iron capacity.
Moreover, according to data released by the National Bureau of Statistics, China's GDP growth rate in the first half of the year was maintained at 5%. Against the backdrop of economic recovery, coupled with the "Golden September and Silver October" as the peak season for stainless steel, multiple macro factors may help boost terminal demand. As the end of the month approaches, the steel plant procurement period is coming, and the market is waiting for centralized transactions to land.
China Metallurgical Industry & Trade Promotion Association
Mysteel.com - July 18, 2024, 10:23 AM
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Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
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Brussels, July 12, 2024 - The World Stainless Steel Association has released data for the first three months of 2024, indicating that the production of stainless steel crude steel has increased by 5.5% compared to the same period last year, reaching 14.585 million tons. It has decreased by about 1.3% compared to the previous quarter.
Among them, Europe decreased by 4.8% year-on-year but increased by 3.7% quarter-on-quarter to 1.558 million tons; the United States increased by 6.5% year-on-year and by 15.8% quarter-on-quarter to 0.509 million tons; Mainland China increased by 2.1% year-on-year but decreased by 4.5% quarter-on-quarter to 8.595 million tons; Asia (excluding Mainland China and South Korea) increased by 12.9% year-on-year but decreased by 5.2% quarter-on-quarter to 1.842 million tons; Other regions (Brazil, Russia, South Africa, South Korea, Indonesia) increased by 25.0% year-on-year and by 10.1% quarter-on-quarter to 2.081 million tons.
Americ Energy (CHINA) Co., Ltd. is a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
Contact Information:
Website: www.metal-ae.com
Email: ae@americenergy.com
Phone: 13521210668
whatsapp: 13521210668
Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
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📈 On July 17, 2024, the stainless steel futures contract 2409 fell by 115 to 13,815 yuan/ton, with a spot-futures price difference of 305. The stainless steel futures contract 2409 saw a decrease of 115 to 13,815 yuan/ton, with an increase in positions by 13,799 to 161,796, and a volume of 158,267 trades.
📊 In the spot market, the 2.0mm rough edge of the Wuxi 304 cold-rolled Hongwang is reported to be around 14,070 yuan/ton (converted to a trimmed edge of about 14,120), with the current stainless steel spot-futures price difference at 305.
📉 In the Foshan market, the stainless steel futures market fell below the 13,900 mark in the morning, then bounced back and hovered around the mark, with the market showing a green trend. The 304 cold-rolled agents in the spot market remained flat, while some traders saw a slight decline of 30-50. The market prices showed some weakness, but some still maintained a high position to watch, with the overall fluctuation range limited. Prices and transactions continued to be stagnant, and the atmosphere was quiet. The 304 hot-rolled narrow strip, which rose yesterday afternoon, fell back by 30-50 today, and there was still a low price refresh in the afternoon.
🏭 In the Wuxi market, in terms of stainless steel spot, the main quotation for the private 304 cold-rolled four-foot rough base in the Wuxi area was 13,650 yuan/ton, and the private hot-rolled price was 13,400 yuan/ton, both unchanged from the previous day. The night market operated with fluctuations, with overseas inflation falling and non-ferrous metals touching the bottom and rebounding, with a significant increase in nickel prices at the end of the day; the terminal's wait-and-see sentiment was relatively strong, waiting for the meeting to end, and the market's rigid demand was mainly for purchase, with traders quoting mostly stable in the morning.
🏗️ Recently, the 2.0×1535mm specification thin plate of Taigang Xinhai was successfully rolled in one go, marking the thin specification limit of the dual furnace rolling mill tuning.
🏭 The stainless steel new material industry cluster in Fuan City is planned to be determined as the characteristic industry cluster of small and medium-sized enterprises in Fujian Province by the Fujian Provincial Department of Industry and Information Technology. The list is being publicized from July 16 to July 22, 2024.
🏗️ The 1450mm rolling production line of the Jing'an stainless steel rolling and pickling project in Naiman Banner, Inner Mongolia, is under construction and is expected to be ready for production in August 2025.
🏭 On July 16, the Wencheng Branch of the Wenzhou Municipal Ecological Environment Bureau accepted the environmental impact report form of the high-end stainless steel pipe project of Zhejiang Zhongcheng Technology Co., Ltd. and announced it to the public, with the announcement period from July 16 to July 25, 2024 (7 working days).
🏭 The first batch of key equipment for the production line of the kitchen and bathroom industry base project in the modern equipment manufacturing industry park of Yangquan City, Shanxi, has begun to be installed. The project's main body company has fully started the internal renovation work of the standard factory building.
🏭 The second phase project of Bodeman Technology in Xiaoling Town, Zhashui County, Shaanxi, has been basically completed. The annual investment has been completed by 53 million yuan, and all equipment has been installed and debugged, entering the trial production. The project mainly produces various stainless steel products, with an annual production of 150,000 square meters of stainless steel products and an annual output value of 200 million yuan.
📉 Jinchuan Company's electrolytic nickel quotation was reduced by 900 on July 17. The quotation is as follows: Shanghai electrolytic nickel (plate) 134,200 yuan/ton; barrel small block 135,400 yuan/ton; the above quotations were reduced by 900 compared to the prices on July 16.
📉 Vale's nickel production in the second quarter was 27,900 tons, a decrease of 24% year-on-year, mainly due to the implementation of the planned maintenance and repair strategy in the nickel processing plant.
🏭 Luoyang Molybdenum Industry recently developed the "Comprehensive Recovery Process Research and Industrialization of Low-grade Iron Associated with Molybdenum Tailings". The results have been evaluated and found to be advanced and innovative, with the overall technical level reaching the international advanced level, and the "magnetic - grinding - magnetic" combined process technology reaching the international leading level.
🏭 On July 16, the Shanghai Futures Exchange announced a draft contract for lead, nickel, tin, and alumina futures options, and is now soliciting opinions from the public.
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📰 51 Stainless Steel - July 17, 2024 - Industry insiders have reported that a stainless steel narrow strip mill in East China recently informed its suppliers that it will indefinitely stop collecting all types of scrap materials from now on.
🤔 The news has sparked speculation among peers that the mill might be considering a strategic retreat. After all, it is considered a relatively high-quality enterprise.
🏭 An industry insider's perspective: "The company has experienced both profitable and challenging times in the industry. Even if they stop operations now, the plant and land are still valuable assets. Not everyone has such confidence in the current day."
However, according to our communication and understanding, the steel mill has stated that there are no other plans at the moment; it is simply a response to the recent inspections by relevant departments.
📈 For market quotations, suppliers, and more information, please visit our platform.
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Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
Contact Information: - Website: https://www.metal-ae.com/www.metal-ae.com - Email: ae@americenergy.com - Phone: 13521210668 - WhatsApp: 13521210668 - Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
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Date: July 16, 2024
Source: Shiheng Special Steel
On July 16, 2024, Yang Hongtao, Secretary of the Tai'an Municipal Committee and Director of the Municipal People's Congress Standing Committee, accompanied by Zhang Li, Secretary of the Feicheng Municipal Committee, and other leaders, led the participants of the 2024 first half of the year key project observation and evaluation activities to visit and guide the work at Kangqiao Technology. Zhang Wei, Party Committee Secretary and Chairman, accompanied the event.
Yang Hongtao and his team visited the boutique cold rolling project of Kangqiao Technology on site, listened to the project introduction, and gave high praise to the construction of the project. He pointed out that major projects are the cornerstone of stable economic operation and the hard support for high-quality development. He called on government departments at all levels to firmly establish the concept of "projects as king", enhance service awareness and ability, fully ensure all kinds of elements, and go all out to break through difficulties, unblock bottlenecks, and eliminate pain points. Under the premise of ensuring the quality of the project and the safety of construction, to speed up the progress, ensure that key projects are put into production as soon as possible, and inject strong momentum into high-quality development with high-quality projects.
Website: https://www.metal-ae.com/www.metal-ae.com
Email: ae@americenergy.com
Phone: 13521210668
whatsapp: 13521210668
Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
Recently, TISCO Xinha in Shandong has successfully rolled a 2.0×1535mm specification thin plate in a single operation. This rolling process has set higher standards for equipment precision, automation control level, and operator skills. The difficulty of rolling has significantly increased with the wider width and thinner thickness of the steel plate.
It is reported that the 2.0×1535mm thin plate is the thin specification limit for the dual furnace rolling mill adjustment. To ensure the successful completion of this task, the leadership of TISCO Xinha has attached great importance to it, focusing on key points and resolving issues encountered in production in a timely manner. The hot rolling party branch has mobilized party members to take the lead and actively tackle difficulties through various forms such as "three meetings and one lesson". By playing the entrepreneurial spirit, multiple technical backbone meetings have been held for rigorous planning and conducting multiple simulation rolling tests, addressing issues such as rough rolling work roll kilometers and secondary model testing one by one. Parameters such as rolling passes and rolling load distribution have been repeatedly optimized, and the rolling plan has been strictly demonstrated to ensure efficient equipment operation and product quality. The success of this rolling is of milestone significance for the company's adoption of the dual-stand furnace rolling mill production process, marking a new breakthrough in product specifications.
Recently, the new 1780mm hot continuous rolling project of Indonesian Guangqing De (a cooperation project between Indonesian Qingshan and Hebei Delong), which is contracted by Guoji Heavy Industry for mechanical, electrical, and hydraulic equipment, has successfully passed the hot load test in one go. This is the first set of modern hot continuous rolling equipment for stainless steel and carbon steel exported overseas by Guoji Heavy Industry, with comprehensive technical performance reaching the international leading level. The project is jointly responsible by China Heavy Industry Academy and Erzhong Equipment, which are part of Guoji Heavy Industry.
Guoji Heavy Industry has fully exerted its strong scientific and technological research strength and the full industrial chain manufacturing capability of major technical equipment. Through precise design, precision manufacturing, lean quality, and meticulous service, it has created a high-quality, high-quality, and high-stability hot continuous rolling machine production line with advanced equipment such as high-reliability and high-precision finishing mill units and high-rigidity roughing mill units, as well as new generation of bending and rolling systems, and hot coil box saturated steam blowing systems, and other technologies. It can meet the needs of users for efficient rolling of a mixed production mode of more than 4.5 million tons of multi-brand carbon steel products and a series of high-quality stainless steel products per year, providing strong support for promoting the high-end, intelligent, and green development of metallurgical equipment.
It is reported that the large machinery of the Jing'an Stainless Steel Pickling Project in Naiman Banner, Inner Mongolia, is operating orderly.
The project has a total investment of 5.31 billion yuan, with an annual output of 2.2 million tons of stainless steel coil, which can provide more than 3,000 jobs. So far, one 1050mm rolling production line has been put into production conditions, equipped with two pickling production lines, and started trial production on July 4th. The 1450mm rolling production line is under construction and is expected to be ready for production in August 2025.
At present, Naiman Banner has 8 stainless steel industry-related enterprises, 6 construction projects, and 5 nickel slag disposal enterprises in the park, which can digest 7 million tons of nickel slag annually. Upstream, Naiman Banner will focus on undertaking raw material projects such as nickel iron, silicon manganese, and high-carbon chromium iron alloy. Downstream, it will focus on undertaking projects in the fields of stainless steel profiles, tableware and kitchen utensils, precision castings, medical equipment, and other fields. It is expected that by the end of the "14th Five-Year Plan," the total industrial chain output value will exceed 100 billion yuan.
Handan Special Tube adheres to market demand as a guide, accelerates the domestication of high-end products, and stands in the high-end industry, achieving a new breakthrough in the research and development and production of 85KSI martensitic stainless steel tubes for oil use.
This product has a complex performance in heat treatment process compared with different components of 13Cr, and the production difficulty is relatively large. To successfully tackle the process, the technical backbone of the party group of the company's R&D center has consulted materials, optimized the composition, carried out a series of steel tube extrusion and heat treatment experiments, summarized the technical indicators and production parameters that 85KSI-13Cr can achieve, and successfully developed more than 10 specifications of 85KSI-13Cr products. After testing, while the strength meets the requirements, the impact energy is more than 50% higher than the conventional 13Cr, and the product quality performance is stable.
The successful development and production of 85KSI martensitic stainless steel tubes for oil use not only provides a larger selection space for domestic users to extract oil and gas wells with different CO2 and H2S corrosion conditions but also greatly enhances the technical level of domestic high-alloy oil well tube production, making an outstanding contribution to the company's development in the field of high-end stainless steel tubes.
Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
Contact Information:
- Website: https://www.metal-ae.com/www.metal-ae.com
- Email: ae@americenergy.com
- Phone: 13521210668
- WhatsApp: 13521210668
- Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
Part 01: Robust Overall Performance in Q2, Achieving Year-on-Year Double Growth 🚀
Vale, the largest iron ore producer in Brazil, released its production and sales report for the second quarter of 2024 on July 17th, Beijing time. The performance was very impressive compared to the same period last year. Specifically, with substantial financial support for infrastructure upgrades and maintenance, Vale's iron ore production remained stable in the second quarter, reaching 80.6 million tons, an increase of 1.9 million tons, or 2.4% year-on-year (Figure 1), marking the highest for the same period in the past four years. At the same time, there was a noticeable increase in iron ore sales in the second quarter, with a year-on-year increase of 5.4 million tons to 79.8 million tons, a significant increase of 7.3% (Figure 2).
Additionally, affected by the reduction of pellet fines at the Vargem Grande plant and the maintenance at the São Luis plant, Vale's total pellet production slightly decreased in the second quarter, down 210,000 tons year-on-year to 8.9 million tons, a decrease of 2.4%.
Part 02: Overall Stable Performance of Three Major Mining Areas, Strong Performance of the Northern System 🏭
1. Northern System: The S11D mine area performed brilliantly, setting a new historical high for the second quarter's production. The Northern System is located in the Carajás region of Para State, Brazil, and is Vale's largest iron ore production area, including three mining complexes: Serra Norte, Serra Leste, and S11D. The main product is Carajás fine powder. According to the production situation of the mine area, the increase in iron ore in the Northern System in the second quarter mainly came from the S11D mine area, which produced a total of 19.5 million tons of iron ore in the second quarter, an increase of 400,000 tons, or 2.1% compared to the second quarter of 2023 (Figure 3), setting a new historical high for the second quarter. This is mainly due to the ongoing asset maintenance plan to ensure stable production. In addition, although the production of the Serra Norte mine area slightly decreased year-on-year during this period, it was in line with the development plan of the mine area.
2. Southeastern and Southern Systems: Overall stable production, with the Vargem Grande mine area showing strong performance. The Southeastern System is located in Minas Gerais State, divided into three major integrated production areas: Itabira, Minas Centrais, and Mariana. The Southern System is also located in the same state, composed of two major integrated mining areas: Paraopeba and Vargem Grande. These two systems are the main production areas for Vale's pellet products. In the second quarter, the total production of iron ore from the two systems was 41.06 million tons, an increase of 2.47 million tons year-on-year, an increase of 6.4%. The pellet production was 5.85 million tons, accounting for 65.7% of the total pellet production, almost unchanged from the 5.83 million tons in the second quarter of 2023.
Among them, the Southern System performed particularly well, setting a new high for the second quarter's production in the past five years. The iron ore production of the Southern System in the second quarter was 19.84 million tons, an increase of 3.05 million tons quarter-on-quarter, an increase of 18.2%. This is mainly due to the excellent operational performance of the Vargem Grande mine area in the second quarter, which produced 11.87 million tons of iron ore, achieving a year-on-year increase of 27.5%. In addition, the comprehensive facilities of the Paraopeba mine area have also been continuously maintained and upgraded during this period, contributing to the overall increase in production of the Southern System. During this period, the iron ore production of the Southeastern System slightly decreased to 21.23 million tons, a decrease of 560,000 tons year-on-year, a decrease of 2.6%. This is mainly because after the Brucutu plant was converted to wet processing last year, the share of high-quality ore production increased. In addition, some factories in the Itabira production area carried out equipment maintenance, which also affected the iron ore production to a certain extent, largely offsetting the purchase volume of third parties.
Part 03: The 2024 Annual Production Target Remains Unchanged, Expected to be Achieved at High Levels 🎯
By the end of the second quarter, Vale's overall production and sales continued the outstanding performance of the first quarter. The excellent operating performance of this quarter has strengthened the company's confidence in achieving the annual production target for iron ore at the upper limit of the guidance. Thanks to this, although Vale announced that the 2024 annual production target remains unchanged at 310-320 million tons, the total production of iron ore in the first half of the year was 151 million tons. According to the upper limit of the target, the current progress is 47.3%. Considering the seasonal growth space in the second half of the year, Vale's target setting is relatively conservative, and Mysteel estimates that its annual production will be completed at high levels and may exceed the upper limit of the target, maintaining above 320 million tons.
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Introduction to Americ Energy (CHINA) Co., Ltd.:
Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
Contact Information:
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Chongqing, the second most important city in Southwest China, is a hub of population and innovative business forms. The demand for stainless steel products in modern planning and landmark buildings is huge and continues to grow rapidly. The monthly total circulation volume of stainless steel in Chongqing, Kunming, Guiyang, and Chengdu is nearly 800,000 tons. The main consumption fields include decoration, chemical projects, machinery, home products, and liquor enterprises, with Chongqing's monthly circulation volume of stainless steel being around 10,000 to 20,000 tons, mainly circulating 201 and 304 cold-rolled plate resources.
Upcoming Event: To delve deeper into the Southwest stainless steel market, the 2024 Stainless Steel China Tour - The 2nd Southwest Stainless Steel Industry Chain Conference, hosted by Shanghai Steel United E-commerce Co., Ltd. (Mysteel), will be held on August 2, 2024, at the Chongqing Sheraton Hotel. The conference aims to deepen information communication between upstream and downstream, analyze the technical and cost issues faced by current stainless steel product enterprises, and explore how to reduce costs, improve product quality, enhance product competitiveness, and better meet new challenges and opportunities.
Shanghai Steel United sincerely invites downstream enterprises, stainless steel factories, large processing centers, and industry association organizations to participate in this grand event. Through on-site discussions and exchanges between upstream and downstream, the conference will strengthen complementary advantages and create a future together.
Americ Energy (CHINA) Co., Ltd. is a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings include stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
Contact Information:
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