[SMM Steel Morning News] the central bank cuts the re-loan rediscount rate * Xuzhou Coke Enterprise Steel production capacity reduction

Published: Jul 01, 2020 09:07 (GMT+8)

 

Wednesday, 1 July 2020

News breakfast

"rising factors

1. The central bank cut the rediscount rate by 0.25 percentage points.

The central bank recently issued a statement saying that it has decided to cut the re-lending and rediscount interest rates from July 1. Among them, the interest rates of re-loans for supporting agriculture and supporting small enterprises were reduced by 0.25 percentage point. after the adjustment, the interest rates of re-loans for supporting agriculture and supporting small children for three months, six months and one year were 1.95%, 2.15% and 2.25%, respectively. The rediscount rate was cut by 0.25 percentage point to 2%. In addition, the central bank also cut the financial stability re-lending rate by 0.5 percentage points. after the adjustment, the financial stability re-lending rate was 1.75%, and the financial stability re-lending (extension period) interest rate was 3.77%.

2. Shandong coke enterprises raise coke by 50 yuan per ton in the seventh round.

Since 00:00 on July 1st, the ex-factory prices of metallurgical coke in Weifang, Binzhou, Dezhou, Jining, Zaozhuang, Heze, Rizhao, Taian and other coke production enterprises in Shandong Province have all increased by 50 yuan / ton on the basis of the original price.

3. Some coke enterprises in Xuzhou area of Jiangsu Province officially stopped coal feeding from coke ovens at 0: 00 on June 30.

Jiangsu Xuzhou area four coke enterprises Xuzhou Dongxing Energy Co., Ltd., Xuzhou Longshan Coking Co., Ltd., Xuzhou Zhongtai Energy Technology Co., Ltd., Xuzhou Weitian Chemical Co., Ltd. officially implemented the relevant exit policy on June 30, 2020. the coal feeding of coke ovens was officially stopped at 24:00 in the evening, and the shutdown involved a production capacity of 6.8 million tons.

4. The replacement of production capacity of Xuzhou steel enterprises in Jiangsu Province involves an average daily reduction of about 20600 tons of pig iron production capacity.

A total of 11 blast furnaces in the five steel enterprises involved in Xuzhou stopped production, with a volume of 6482 m ³, involving a pig iron production capacity of 7.51 million tons, with an average daily reduction of about 20600 tons. In addition, eight 60t converters were shut down, involving a crude steel production capacity of 7.4 million tons, with an average daily reduction of about 20200 tons. Of the 18 steel mills in Xuzhou, there are only 2 large combined iron and steel enterprises (Xugang and Zhongxin Iron and Steel), one short-process steel enterprise (Jinhong) in production, and all the other 15 steel enterprises have been shut down. The centralized closure of Xuzhou steel enterprises will have a small impact on the supply of building materials in northern Jiangsu, northern Anhui, southern Shandong and other places.

5. Global market: us stocks rose more than 12% in the first half of the year.

Us stocks closed higher on Tuesday, with the Nasdaq up 1.87 per cent, the Dow up 0.84 per cent and the S & P 500 up 1.53 per cent. In the first half of this year, the Nasdaq rose more than 12%, while the Dow and the S & P 500 fell about 9.5% and 4%, respectively. Gold futures closed up 1.1%, the highest close since 2011, and rose nearly 13.0% in the second quarter. Us oil and cloth oil closed down more than 1%.

Hot news

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Heyuan Issues Strict Regulations and Fines for Unauthorized Waste Lead-Acid Battery Management
Sep 28, 2026 17:34 (GMT+8)
Heyuan Issues Strict Regulations and Fines for Unauthorized Waste Lead-Acid Battery Management
Read More
Heyuan Issues Strict Regulations and Fines for Unauthorized Waste Lead-Acid Battery Management
Heyuan Issues Strict Regulations and Fines for Unauthorized Waste Lead-Acid Battery Management
[Waste Lead-Acid Battery Market Update] Recently, the Heyuan Municipal Ecology and Environment Bureau issued the "Notice on Regulating the Management of Waste Lead-Acid Batteries." According to the Ecological Environment Code of the People's Republic of China, enterprises and public institutions that engage in the collection and storage of waste without a permit may be fined 200,000-1 million yuan; those that engage in utilization and disposal operations without a permit may be fined 1-5 million yuan and ordered to suspend operations or shut down, with responsible persons fined 100,000-1 million yuan; if the act constitutes a crime, criminal liability shall be pursued in accordance with the law.
Sep 28, 2026 17:34 (GMT+8)
"Guangzhou Tightens E-bike Waste Lead-Acid Battery Management, Clarifies Hazardous Waste Rules"
Sep 28, 2026 17:33 (GMT+8)
"Guangzhou Tightens E-bike Waste Lead-Acid Battery Management, Clarifies Hazardous Waste Rules"
Read More
"Guangzhou Tightens E-bike Waste Lead-Acid Battery Management, Clarifies Hazardous Waste Rules"
"Guangzhou Tightens E-bike Waste Lead-Acid Battery Management, Clarifies Hazardous Waste Rules"
[Market Dynamics of Waste Lead-Acid Batteries from E-bikes] Recently, the Guangzhou Municipal Ecology and Environment Bureau issued a notice on the key points for environmental management of waste lead-acid batteries from e-bikes in Guangzhou. The document clarifies that waste lead-acid batteries are hazardous waste (HW31, 900-52), and scrap batteries generated from store recycling, trade-in, and repair must be transferred to licensed units. Units holding a hazardous waste collection permit (including 900-52) are exempt from electronic transfer manifests during the collection process under the centralized collection pilot program.
Sep 28, 2026 17:33 (GMT+8)
Peru sees 1 million t/y copper output boost within five to six years
Sep 26, 2026 01:38 (GMT+8)
Peru sees 1 million t/y copper output boost within five to six years
Read More
Peru sees 1 million t/y copper output boost within five to six years
Peru sees 1 million t/y copper output boost within five to six years
Peru's Energy and Mines Minister Guillermo Shinno said the country expects to add about 1 million tonnes of annual copper production within five to six years through new mining projects. The world's third-largest copper producer anticipates 2026 output of 2.5 to 2.7 million tonnes, roughly unchanged from 2023 as declining ore grades and recurring social conflicts weigh on supply. The newly elected government is seeking to reverse that stagnation by cutting red tape; in the two months since taking office, mining companies have stepped up engagement with the ministry. Shinno said officials have identified 27 permits that could be eliminated from roughly 100 mining-sector requirements, without lowering environmenta
Sep 26, 2026 01:38 (GMT+8)