Shandong Laigang to Conduct 4-Month Maintenance at Hot-Rolled Coil Line, SMM Reports

Affected by the dual control of energy consumption and the power rationing policy, a steel mill in Guangxi will reduce its hot rolled coil output by about 30% in October, and the same proportion of customer orders for the month will be adjusted.

China's import volume of unwrought copper and copper semis in August were 393,900 mt, a year-on-year decrease of 41.07%, and a month-on-month decrease of 7.2%. The imports from January to August were 3.61 million mt, a year-on-year decrease of 15.4%.

This is a roundup of news in the steel industry for last week.

The steel industry plays an important role in leading global low-carbon development and addressing climate change under the carbon neutrality target. And as traditional processes are reaching their carbon reduction limits, the steel industry must achieve breakthrough technologies in order to realise this target. In the future, hydrogen metallurgy will become the new windfall for the steel industry. This article will giver an overview of the key cooperation projects between international mines and China steel companies in the field of low carbon technology.

Hot-rolled steel production across 25 major Chinese steel mills in June is expected to shrink 4.6% from the realised output in May due to maintenance work and the Shanghai Cooperation Organisation.

Overall hot-rolled coil inventories in China, as of Thursday May 17, dropped 2.2% from a week ago and 26.2% from a year ago to register at 3.12 million mt

Hot-rolled coil prices are likely to gain support from higher demand in the short term as some downstream consumers chose to use hot-rolled coil to substitute for medium plates.

High inventories dampened prices of hot-rolled coil as it traded lower than ex-factory prices and costs, SMM learned. But high costs are likely to keep prices rangebound with limited downward room. 

Hot-rolled coil is expected to rise on account of lowering inventory and post-holiday restocking.

Rebar production from 30 major longs mills across China is set to amount to 6.26 million mt in February, while hot-rolled coil output from 30 major flats mills is expected to be 8.27 million mt.