JSW Crude Steel production up by 13%

March05, 2012

Mumbai : JSW Steel Limited, one of the lowest cost steel producers, reported monthly Crude Steel production of 6.10 lac tons in February 2012, showing a growth of 13% over corresponding month of previous year.

The cumulative crude steel production for 11 months of the financial year was 6.77 million tones with a growth of 15% over previous period. The company produced 6.10 lakh ton crude steel in February this year compared to 5.410 lakh ton last year; a growth of 13%.

Rolled Products (Flat) saw a growth of 1% with 4.47 lakh ton production this year compared to 4.42 lakh ton last year. Rolled Products (Long) saw a growth of 103% with 1.52 lakh ton production this year compared to 0.75 lakh ton last year.

Seshagiri Rao, Joint Managing Director and Group CFO said, “The Crude steel production during February 2012 was severely impacted due to usage of inferior grades of Iron ore. As the stock pile of 25 million tonnes is getting exhausted, the quality of iron ore being offered in E-auction is deteriorating substantially.

"Further certain iron ore in E-auctions contained high Alumina, Silica, Manganese and Low Fe, which led to poor Sinter quality, high slag formation and low productivity in the Blast Furnaces.” "The quantity of iron ore sold in the E-auction during entire month of February 2012 was only 1.17 million tonnes in all 6 E-auctions together as against the industry requirement of 3 million tons per month.

"Even after paying higher prices in E-auctions, the availability of quality iron ore is a challenge, threatening the continuation of steel production efficiently," he said. Steel industry in Karnataka region, therefore, is not only facing shortage of iron ore but poor quality of iron ore is impacting the equipment, productivity and efficiency, said the company.

(sourced: IndiaBlooms.com)

Japan 2012 crude steel output to fall yr/yr -industry body

Wed Jan 25, 2012

TOKYO Jan 25 (Reuters) - Crude steel output in Japan is set to fall slightly in 2012 from the year before due to weak domestic demand and exports, an industry body said on Wednesday.

Eiji Hayashida, chairman of the Iron and Steel Industry Federation, said production would drop by around 2-3 million tonnes from 107.6 million tonnes in 2011.

Hayashida, also head of JFE Holdings, added that Tokyo Electric Power Co's plan to increase rates for corporate customers would be hard for steel makers to stand.

The utility, known as Tepco, is struggling in the aftermath of the disaster at its Fukushima Daiichi nuclear plant.

(sourced Reuters)

China 2011 steel output likely 683 million tons

Thu, Jan. 5, 2012

-- China's crude steel production likely reached 683 million tons in 2011
-- Country's 2012 crude steel demand may rise 4% to reach 700 million tons
-- Severe challenges ahead for China's steel exports, association says

BEIJING (MarketWatch) -- China's total crude steel output likely rose 9.2% in 2011 to 683 million metric tons, the China Iron and Steel Association said in a statement Thursday.

Steel exports likely rose 16% to 49 million tons. China's 2012 crude steel demand may rise around 4% to 700 million tons, it said.

However, many steelmakers in China are facing serious financing and capital difficulties, and some will have to halt or delay projects due to capital stress, CISA said.

The National Bureau of Statistics is expected to release steel output data later this month.

China faces "severe challenges" this year on the export front, and international trade frictions may arise, CISA said.

The association projected downside for iron ore prices due to sluggish global demand. "Chinese steelmakers are facing meager profit margins or losses this year," it said.

Import prices for iron ore averaged $166.2/ton in the first 11 months, up 31.5%.

In the first 11 months, CISA's member-mills gained a combined profit of CNY85.3 billion, up 8.1% but their profit margin was only 2.55% during the period, the association said.

(sourced MarketWatch)

India to be 2nd largest crude steel producer?

Monday, 02 January 2012

India is expected to become the 2nd largest producer of crude steel in the world by 2015, said the Ministry of Steel in its Year End Review.
Steel sector trends
• India became the 4th largest producer of crude steel in the world in 2010 as against the 8th position in 2003 and is expected to become the 2nd largest producer of crude steel in the world by 2015.
• India also maintained its lead position as the world’s largest producer of direct reduced iron (DRI) or sponge iron.
• Ministry’s National Steel Policy (NSP) 2005 projection of 110 million tonnes of finished steel production per annum by 2019-20 is likely to be exceeded by 2012. The country is likely to achieve a crude steel production capacity of 112 million tonnes by the year 2011-12.
• Going by estimate of Rs.4,000 crore investment per million tonne of additional capacity, intended steel capacity build up in the country is likely to result in an investment of Rs.8,70,640 crore by 2020.
• 222 MoUs have been signed with various states for planned capacity of around 276 million tonnes by 2019-20.
• Major investment plans are in the states of Orissa, Jharkhand, Karnataka, Chhattisgarh and West Bengal.
• The steel sector contributes to nearly 2pc of the GDP and employs over 5 lakh people.
• The per capita steel consumption during the last six years has risen from 38 kg in 2005-06 to 55 kg in 2010-11.
Production, consumption and demand of Steel
• In the next five years, demand of steel is likely to grow at a higher annual average growth of over 11-12pc as compared to the average annual growth of 8pc achieved between 1991-92 and 2010-11.
• Capacity for crude steel production expanded from 51.17 million tonnes per annum (mtpa) in 2005-06 to 78 mtpa in 2010-11.
• Crude steel production grew at 8pc annually (CAGR) from 46.46 million tonnes in 2005-06 to 69.57 million tonnes in 2010-11.
• Production for sale of finished steel stood at 66.01 million tonnes during 2010-11 as against 46.57 million tonnes in 2005-06, an average annual (CAGR) growth of 7pc .
• Consumption of finished steel has grown at a CAGR of 9.6 pc during the last six years.
• Export of finished steel during 2010-11 stood at 3.36 million tonnes while imports during 2010-11 stood at 6.54 million tonnes.
Major initiatives and achievements
(i) Steel Authority of India Ltd. (SAIL) became a Maharatna company and Rashtriya Ispat Nigam Ltd. (RINL) became a Navratna company during 2010.
(ii) Mega Expansion Plans of SAIL, RINL and NMDC Ltd.
The Steel PSUs are in the midst of ambitious expansion plans. The major thrust of the modernization and expansion plans is to adopt the best modern technology, which in addition to being cost effective should also be energy efficient and environment friendly.
• The expansion plans would increase the capacity of SAIL from 12.84 million tonnes (in 2006-07) per annum crude steel production to 21.40 million tonnes in the first phase to be completed by 2012-13, at an estimated cost of around Rs. 70,000 crore, which includes Rs. 10,000 crore for mine development.
• Rashtriya Ispat Nigam Limited (RINL) is at an advanced stage of commissioning it crude steel capacity expansion project from 2.9 million tonnes to 6.3 million tonnes per annum. The project is likely to be completed by 2010-11 at an estimated cost of Rs. 15,525 crore.
• NMDC plans to increase the production of iron ore from the present level of around 24 million tonnes to 40 million tonnes by 2014-15.
• NMDC is setting up a 3 million tonne per annum (mtpa) capacity Integrated Steel Plant at Nagarnar, Chhattisgarh with an estimated cost of Rs. 15,525 crore.
• NMDC is also setting up a 1.2 million tonne per annum (mtpa) capacity pellet plant at Donimalai, Karanataka.
(iii) Merger/acquisitions/revival/restructuring/Joint ventures of the Steel PSUs
• Maharashtra Elektrosmelt Ltd (MEL), the 99.12pc subsidiary of Steel Authority of India Limited (SAIL), has been merged with SAIL with effect from 01.04.2010.
• ‘SAIL Refractory Company Limited’ – a subsidiary company of SAIL for transfer of the Refractory unit of BSCL incorporated in August, 2011
• SAIL- SCL Limited - Joint ventures (JV) with Govt. of Kerala to revive existing facilities at Steel Complex, Calicut has been effective from 30.12.2010. SAIL has formally taken over the management of the JV Company. Govt. of Kerala has been requested to expedite approval of rolling mill by JV Board.
• JV with Kobe Steel for ITmk3 Technology envisages installation of a 0.5 MTPA Iron Nugget plant at ASP, Durgapur. This unit will produce premium grade Iron Nuggets from iron ore fines and non-coking coal. Proposal for formation of a JV Company with M/s Kobe Steel (50:50 equity participation) has been put up for consideration of SAIL Board on 29.11. 2011.
• Hajigak Iron Ore Deposits, Afghanistan
SAIL led Consortium which submitted bid in September’2011 has been alloted mining blocks B, C and D of the Hajigak Iron ore deposits (reserve of 1770 MT). The total investment estimated at US USD 10. 8 Billion in phases (includes development of mine, installation of 6.12 MTPA Steel plant in two phases, 800 MW Power plant, Rail and Road infrastructure and CSR activities).
(iv) Special Purpose Vehicle
• A Joint Venture Company(JVC) called “ International Coal Ventures Ltd” comprising of SAIL, RINL, CIL, NTPC and NMDC has been set up for acquisition of coal mines in overseas territories, with an equity base of Rs.3000 crore to be leveraged with around Rs. 7000 crore of debt.
The ICVL will function like a Navratna company with powers to clear proposals involving investment of upto Rs.1500 crore. The company has already initiated efforts to acquire coal properties abroad with specific countries like Australia, Mozambique, Canada, Indonesia and USA.
(v) Enhancing steel distribution network
• Public sector steel units are expanding their dealer and distributor networks to reach district centers and remote areas of the country. Presently SAIL has a total marketing network of 2700 dealers in 626 districts, 66 warehouses, 37 branch sales offices and 27 customer contact offices in the country. RINL has over 150 dealers. Private sector steel companies have also been asked to expand their distribution network to cover almost all the major districts of the country.
• Ministry of Steel has evolved a scheme for routing the allocation of iron and steel materials from main producers like SAIL, RINL and Tata Steel to SSI units and other Government Departments through the Small Scale Industries Corporations (SSICs) and the National Small Scale Corporation (NSIC) and provides handling charges of approximately Rs.500-550 per tonne to the Corporations so that the Corporations supply the steel materials at the doorsteps of the SSI units.
(vi) Corporate Social Responsibility (CSR)
• CSR has been identified as an important parameter in the MoUs drawn up by all the PSUs with the Ministry. CSR activities focusing on environmental care, education, health care, cultural efflorescence and peripheral development, family welfare, social initiatives and other measures are underway in the PSUs.
• All profitable Steel PSUs have earmarked certain amount based on the net profit of last year in terms of DPE Guidelines.
(vii) Promoting R and D in Steel Sector
In order to encourage R and D activities in iron and steel sector, Ministry of Steel is providing financial assistance under the following two schemes:
(A) Financial assistance from Steel Development Fund (SDF) under the mechanism of Empowered Committee (EC)
• 68 R and D projects have been approved costing Rs. 544.34 crore with SDF assistance of Rs. 263.48 crore. So far Ministry of Steel has released Rs. 145.63 crore from Steel Development Fund (SDF). Out of 68 R and D projects, 35 projects have been completed yielding benefits to the industries, 9 projects have been stopped after midterm review and 24 projects are in progress.
(B) Financial assistance from Government Budgetary Support (GBS) under the mechanism of Project Approval and Monitoring Committee (PAMC)
• Under this scheme R and D project proposals in three broad areas namely (i) development of innovative /path breaking technologies (ii) improvement of quality of steel and (iii) beneficiation of raw materials in the Iron and Steel Sector are being proposed. So far 8 R and D projects have been approved costing Rs. 143.87 crore with Government Budgetary Support of Rs. 111.11 crore. So far Rs. 31.18 crore has been released up to 2010-11. The projects are at their initial stage.
(viii) Assessment of steel demand
• The Ministry has initiated a study to assess the steel demand in the rural areas of the country and to examine the potential of increasing the level of steel consumption. The study would cover 300 districts, 1500 villages, 4500 manufactures and 8000 retailers spread over all the 35 states and union territories of the country.
(ix) Disinvestment of Steel PSUs
• Disinvestment of 10pc Government of India’s shareholdings in MOIL has been completed. The Government earned Rs. 618.76 crore by disinvestment of MOIL.
• In accordance with the Cabinet Decision, 51pc shareholding (i.e. 7, 36,638 shares) of Government of India in Eastern Investments Company Limited (EIL) under Bird Group of Companies was transferred to Rashtriya Ispat Nigam Limited (RINL). Thus RINL has become the holding company of Eastern Investments Company Limited (EIL) and its subsidiaries Orissa Minerals Development Corporation (OMDC) and Bisra Stone Lime Company Ltd. (BSLC) are now subsidiaries of RINL w.e.f. 05.01.2011.

(Source: NewKerala)

Japan crude steel output hits 10-year low for November

Tuesday, 20 December 2011

Japan's crude steel output fell 3.2 percent in November from a year earlier to the lowest level in 10 years for that month, an industry body said on Monday, after floods in Thailand, an Asian hub for car production, reduced demand for steel.The November output figure, which is not seasonally adjusted, was 8.7 million tonnes. That was the lowest for the month since 2001, when November output totalled 8.1 million tonnes, the Japan Iron and Steel Federation said.
Electric furnace steelmakers, which melt steel scrap, increased output in November on a continued recovery in building construction after the March earthquake and tsunami. But Japan's top steelmakers curbed output in reaction to a decline in exports.

"It was November when customers actually started cutting new contract volumes because of the Thai floods," a federation official said, adding that the strong yen was also hurting exports to Asia.
Last month, JFE Steel Corp, the world No.5 steel maker, said it plans to produce 300,000 tonnes less crude steel in the October-December period than originally planned. It joined Nippon Steel Corp and some other Asian steelmakers in cutting output following a rapid deterioration of Asia's steel market since September.

Monday's data showed that output at electric furnace steelmakers rose 5.2 percent from a year earlier to 2.2 million tonnes, but production by blast furnace steelmakers fell 5.8 percent to 6.5 million tonnes. For overall output, it was the third consecutive year-on-year decline, after falling 0.3 percent in October and 3.8 percent in September.Compared with October, output fell 8.3 percent, the fastest month-on-month decline since February 2009. On a daily basis, output was down 5.2 percent from October.Crude steel production totalled 99.2 million tonnes in the first 11 months of this year, down 1.2 percent from the same period in 2010, the data showed.

Source: Reuters

Severstal’s crude steel output continues to increase in Q3

Thu,27 October 2011

Russian steelmaker Severstal has announced its operational results for the third quarter of 2011. Accordingly, Severstal's crude steel production increased by four percent quarter on quarter to 4.01 million mt in the third quarter.

While Severstal's Russian Steel division reported a 17 percent increase in rolled steel production in the given period, Severstal North America posted a 31 percent increase, both compared to the previous quarter. On the other hand, during the third quarter the mining division of the company, Severstal Resources, increased its iron ore production by 10 percent quarter on quarter to 4.12 million mt.

As regards intercompany sales, Severstal stated that in the third quarter coal sales decreased by two percent to 1.70 million mt, iron ore sales increased by 38 percent to 1.83 million mt and rolled product sales increased by 21 percent to 3.29 million mt, all compared to the previous quarter.

Tags: iron ore , crude steel , coking coal , USA , Russia , Severstal , raw mat , flats , CIS , North America , steelmaking , production

sourced: Steel Orbis

MMK posts 13 percent rise in crude steel output in Q3 over Q2

October26, 2011

In the third quarter of the current year, the crude steel production of Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) totaled 3.18 million mt, up 13 percent compared to the previous quarter. In addition, in the first nine months of the year, MMK registered a five percent increase year on year in its crude steel output to 9.08 million mt.

During the quarter in question, MMK's pig iron production rose by six percent to 2.44 million mt, its long product output increased by 53 percent to 479,000 mt and its flat rolled product output increased by nine percent to 1.5 million mt - all on quarter-on-quarter basis.

According to the MMK statement, its Turkish plant ММK-Metalurji, renamed from MMK-Atakas after acquisition of 50 percent minus one share from the Atakas family, plans to produce around 700,000 mt of steel products in 2011. The whole complex is expected to reach full production capacity of 2.3 million mt per year of finished steel products by 2012.

In 2011, MMK aims to increase finished steel output by 10-15 percent year-on-year. This growth will be due to the increasing demand for MMK products from major steel-consuming industries in Russia and also due to MMK Metalürji reaching full production capacity.

Tags: Russia , MMK , CIS , steelmaking , production
(sourced steelorbis)

Russian crude steel output up by 3pct in first nine months

Friday, 21 Oct 2011

According to the State Statistics Committee of Russia, in the January to September period of the current year Russia produced 240 million tonnes of coal and 77.3 million tonnes of iron ore concentrate up by 2.3%YoY and 8.3%YoY. In the given period, Russia metallurgical coke output went up by 2%YoY to 20.4 million tonnes.

In the first nine months of 2011, Russia registered increase of 3%YoY in its crude steel production to 51.1 million tonnes. In January to September, Russia saw 18.4% increase in its steel pipe production to 7.8 million tonnes and a 3.4% rise in its finished steel output to 44.2 million tonnes.

On the other hand, the country production of pig iron went down by 0.2%YoY to 35.8 million tonnes during the first nine months of 2011.

(Sourced from Steel Orbis)

Swedish crude steel output up 24 percent in Sept over Aug

Wed,19 October,2011

According to the latest data released by Swedish Steel Producers' Association (Jernkontoret), in September this year Swedish crude steel production amounted to 382,400 metric tons, decreasing by 13.2 percent year on year but up 24.1 percent as compared to August this year.

Meanwhile, in the first nine months of the current year Swedish crude steel production amounted to 3,750,600 mt, with an increase of 4.5 percent compared to the same period last year.

Jernkontoret indicates that in Sweden at present around 60 percent of the total production comprises alloyed steel which also includes stainless steels. In the rest of the EU, as well as in the USA and Japan, alloy steels only comprise 10-15 percent of steel production.

Jernkontoret also noted that, per capita steel consumption in Sweden is close to 500 kg, which is relatively high in international terms. The average for EU-27 countries is around 390 kg per capita according to World Steel Association data for 2008.

Tags: raw mat, Sweden , Europe , production , European Union
(sourced steelorbis)

Argentina’s crude steel output down 3.4 percent in Sept from Aug

Wed, 19 October 2011

According to the data released by Argentina's chamber of steel, in September this year Argentina's crude steel output amounted to 472,900 metric tons, falling by 3.4 percent as compared to the previous month and up 4.9 percent year on year.

In September, Argentina's total hot rolled steel product output decreased by 11.3 percent month on month to 443,200 metric tons, while a four percent decrease was recorded on year-on-year basis, including output of 225,800 metric tons of hot rolled flat steel products - down 9.6 percent month on month, and 217,400 metric tons of long steel products, decreasing by 13 percent compared to August this year.

In the given month, the country's cold rolled flat steel product output fell by 18.2 percent month on month to 95,300 metric tons, decreasing by 30.8 percent as compared to September 2010.

On the other hand, in the first nine months of this year, Argentina's crude steel production totaled 4.17 million metric tons, increasing by 9.4 percent year on year. However, as compared to the January-September period of 2008, the country's steel production in the corresponding period this year indicates a decrease of six percent.

Tags: raw mat , Argentina , South America , production (sourced steelorbis)

ArcelorMittal Kriviy Rih crude steel output in Jan to Sept down by 9pct YoY

Friday, 07 Oct 2011

It is reported that in the January to September period of the current year, the crude steel production of ArcelorMittal Kriviy Rih, Ukrainian subsidiary of global steel giant ArcelorMittal, totaled 4.118 million tonnes down by 9%YoY

In the first nine months of the year, ArcelorMittal Kriviy Rih registered a 10% decrease YoY in its finished steel output to 3.568 million tonnes. During the period in question, coke production at ArcelorMittal Kriviy Rih decreased by 3%YoY to 1.943 million tonnes while its iron ore concentrate output increased by 6%YoY to 6.957 million tonnes

(Sourced from SteelOrbis)

Moldavian Steel Works’ crude steel output up 46 percent in September over August

Thu, 06 October 2011

In September this year, Moldavian Metallurgical Works (MMZ), a steelmaker based in the Transnistrian region of Moldova, produced 62,675 mt of crude steel (up 45.9 percent month on month) and 54,387 mt of rolled steel (up 11.2 percent month on month), including 30,218 mt of reinforcing bar and 24,169 mt of rod.

In October, MMZ plans to decrease production amid the unfavourable situation in the global market and will focus on production of rod from high-carbon steel grades. The company will ship material to Russia, Ukraine, Africa, the EU and Latin America in October.

Tags: rebar , raw mat , longs , Moldova , CIS , production , steelmaking , crude steel , Moldavian Metallurgical Works
(sourced steelorbis)

NLMK acquires Indian electrical steel service center

Thu, 06 October 2011

Russian steelmaker NLMK has announced that it has acquired an India-based electrical steel service center National Laminations for a total consideration of US$8 million. The acquisition will improve NLMK's position in the Indian market as one of the leading suppliers of grain-oriented electrical steel, controlling production from crude steel production to delivery to the final customer.

National Laminations is a grain-oriented steel processing and distribution company with processing and warehousing capacities of 16,000 mt and 15,000 mt per year, respectively. The company supplies processed materials to a wide range of customers, including local and international transformer producers.

Tags: flats , India , Russia , CIS , Indian Subcon , NLMK , M&A , steelmaking , South Asia
(sourced steelorbis)

JFE Steel may cut output as quake hurts demand

Tue Apr 19, 2011 7:41am GMT

* Fall in March crude steel output may be less than 1 mln tonnes
* Japan February crude steel output was 8.93 mln tonnes
* JFE faces higher inventories, may consider output cuts
* Slumping car production is a concern (Adds March crude steel estimate)

TOKYO, April 19 (Reuters) - JFE Steel Corp , the world's fifth-biggest steelmaker, is facing rising inventories due to weak demand from domestic manufacturers following last month's devastating earthquake and tsunami and may need to cut production ahead, the company's president said on Tuesday.

Eiji Hayashida, also chairman of Japan's Iron and Steel Federation, told a news conference for the industry body that the impact of the quake on the output of steelmakers may have been smaller than expected in March, but that shutdowns of car and parts plants may take a heavy toll on steelmakers' production after May.

The magnitude 9.0 earthquake and tsunami on March 11 has forced Toyota Motor Corp and many Japanese carmakers to operate at 50 percent of their target plans as the quake disrupted their parts supply chains and triggered power outages and an ongoing nuclear crisis.

"JFE will decide in early May whether it needs to cut output after seeing carmakers' production levels," Hayashida said.

He said Japan's crude steel output in March may have been reduced by less than 1 million tonnes from February's 8.93 million tonnes, smaller than expected by many industry watchers.

The disaster will end a run of 16 consecutive monthly year-on-year rises in crude steel output, which had become increasingly robust on buoyant exports to Asian consumers.

The earthquake prompted JFE, Nippon Steel Corp and Sumitomo Metal Industries Ltd to temporarily halt their 7 blast furnaces in east Japan, but damage to production facilities was relatively small except for Sumitomo Metal's Kashima plant, which is located closest to the earthquake's epicentre.

Hayashida said demand from domestic manufacturers has been slumping since the quake, and he expects domestic demand for crude steel to decline this financial year despite a pick up in reconstruction demand after the summer.

The steel body will on Wednesday reveal crude steel output data for March and for the 2010/11 financial year ended on March 31.

(Reporting by Yuko Inoue; Editing by Chris Gallagher and Joseph Radford, sourced Reuters)

China February daily steel output hits record high

Fri Mar 11, 2011 6:14am GMT

* Jan, Feb total output hits 114.18 mln tonnes
* Strong production attributed to small mills

BEIJING, March 11 (Reuters) - China's daily crude steel output rose 0.5 percent from January to a record high of 1.94 million tonnes in the holiday-shortened month of February, with private mills producing with abandon despite demand uncertainty.

China produced a total of 54.31 million tonnes of crude steel in February, up 9.7 percent from the same month last year, according to official data from China's National Bureau of Statistics on Friday.

Many Chinese businesses were shut for a week in February to mark the Lunar New Year holiday. According to Reuters calculations, average daily output in the first two months of 2011 was 16.6 percent higher than in December, when hundreds of small mills were forced to shut down to comply with a state energy saving campaign. "The ramp-up happened pre-Chinese new year and continued until late in the month when prices began to fall," said John Guise, China editor with Steel Business Briefing. "If you look at everybody's attitude and at steel prices just before the Chinese new year holiday, everybody was thinking it's going to get better and it was hard to find a dissenting opinion in the crowd."

Prices on the domestic market have been on the decline after hitting a peak in early February, with the industry blaming long-standing overcapacity problems as well as uncertainties about demand. While the industry is concerned about its prospects in 2011, producers are unlikely to cut output as long as they are still making profits -- however meagre. "You are not seeing large mills making production cuts -- we've heard billet producers who service smaller mills starting to make production cuts but the major steel makers are not and probably will not do so until they stop making a profit," said Guise. Traders are waiting to see whether or not industry leader Baoshan Iron and Steel will reduce its prices for April delivery, with an announcement due soon. The statistics bureau said China produced 63.54 million tonnes of steel products in February, down from 97.84 million tonnes in December. Iron ore output in February reached 72.45 million tonnes, down from 73.79 million tonnes in January and 98.21 million tonnes in December. (Reporting by David Stanway and Ruby Lian, Editing by Tom Miles and Ed Lane, sourced:Thomson Reuters)

Nine Chinese producers rank among world’s top 20 steelmakers in 2010

Thu, 10 March 2011 11:56:05 (GMT+2)

In 2010, as the world economy recovered, global crude steel output reached 1.414 billion mt, up 15 percent year on year. The capacity utilization rates of major steelmakers recovered, but their output levels were still lower than the levels recorded before the start of the financial crisis. In 2010, the aggregate crude steel output of the world's top 20 steelmakers amounted to 612 million mt, accounting for 43 percent of the total global crude steel output.

The list of the world's top 20 steelmakers in terms of crude steel output for 2010 includes nine Chinese steelmakers, of which six rank in the top 10 while four rank in the top five.

ArcelorMittal remained the largest steelmaker in the world in terms of crude steel output. In 2010, its crude steel production reached 90.6 million mt, up 17.4 million mt compared to its 2009 volume, but still down on the 103 million mt recorded for 2008. Chinese steelmakers Hebei Iron and Steel Group, Baosteel, Anshan-Benxi Iron and Steel Group, Wuhan Iron and Steel Group (WISCO) ranked second, third, fourth and fifth respectively. South Korea's POSCO and Japanese steelmakers Nippon Steel Corp. and JFE were respectively ranked sixth, seventh and eighth. Meanwhile, Chinese steelmakers Shagang Group and Shougang Group were ninth and tenth in the list of top global steelmakers.

Tags: China , India , Japan , Korea S. , Far East , Indian Subcon , Baosteel , WISCO , ArcelorMittal , Shagang , production , steelmaking , POSCO , JFE Steel , Nippon Steel , East Asia and Pacific , South Asia

Guryevsk Metallurgical Works crude steel output rises 67pct YoY

Saturday, 05 Mar 2011

It is reported that Guryevsk Metallurgical Works a subsidiary of Russian steel producer ESTAR Holding, in the January to February period of the current year saw its crude steel output increase by 66.6%YoY producing 32,200 tonnes.

During the period in question, GMZ increased its commercial rolled steel product output by 15.6% to 39,600 tonnes and upped its steel grinding balls production by 17.5%YoY to 17,000 tonnes.
(sourced:steelorbis)