SHANGHAI, May 17 (SMM) — This is a roundup of news in the steel industry for last week.
Tangshan Tianzhu Iron & Steel's to relocate before end-October
Tangshan Tianzhu Iron & Steel plans to complete the first phase of the relocation (shutting down 2 blast furnaces, 2 sintering machines and 1 shaft furnace) before the end of October 2021. After construction of the new plant is completed by the end of July 2022, the remaining equipment will be shut down. The new facility will produce on a per year basis, 6.06 million mt of sinter, 1.2 million mt of pellets, 3 million mt of pig iron, 2.8 million mt of crude steel, and 2.9 million mt of steel profile products. The project is located in the steel and steel deep processing zone of Tangshan Seaport Economic Development Zone, Hebei.
400,000 mt Luoyu iron ore berth at Meizhou Bay Port approved
The Ministry of Transport has approved the expansion project of the No. 9 Berth at Luoyu Operation Area, Dongwu Port District, Meizhou Bay Port, and agreed the project to use the corresponding port shoreline based on a berth length of 440 m, an increase of 54 m from the existing berth length. The capacity of the No. 9 berth will expand from current 300,000 mt to 400,000 mt, which will make it the first berth in Fujian that has a capacity of 400,000 mt and further optimise the iron ore transportation system of coastal ports in Fujian. The berth has been actively developing sea-railway transportation, water-water transfer and serving steel mills across Fujian, Taiwan, Jiangxi and other regions.
DCE to amend iron ore futures contract and related rules
On May 11, DCE solicited public opinions on revisions to iron ore futures contract and related rules . The revisions will apply to new listed contracts after the formal revision notice is issued by the DCE. Market experts understand that the proposal to lower the grade of standard iron products indicates that the DCE intends to further expand resources that are qualified for delivery to better meet market demand, which is in line with the new market situation and changes in spot trade. According to the revision plan, rolling delivery will be implemented on iron ore futures contracts, which will provide convenience for enterprises to participate in delivery and promote the smooth development of iron ore futures trading and delivery business.