Iron ore and steel news roundup

SHANGHAI, Jul 26 (SMM) - A roundup of the ferrous metals headlines of the week.

Shandong Iron & Steel Laiwu Branch retired No. 1 1080m³ blast furnace

Shandong Iron & Steel Laiwu Branch retired its No. 1 1080m³ blast furnace recently, which had produced over 19 million mt of pig iron since it was first put into use in 1995. The retirement is in response to the “carbon peak” and “carbon neutrality" initiatives and policies of coal use reduction and capacity cuts.    

Heilongjiang Province produced 4.73 million mt of steel in H1

Heilongjiang Province produced 4.73 million mt of steel in H1, a year-on-year increase of 7%.

The iron ore resource reserves in Heilongjiang have been relatively small. The Heilongjiang Development and Reform Commission and the Heilongjiang Department of Industry and Information Technology issued the "High-quality Development Plan for the Iron and Steel Industry of Heilongjiang Province" in June 2019, which proposed that Jianlong Group will be responsible for helping Heilongjiang achieve the goal to expand the steel production and steel market value to 10 million mt and 100 billion yuan respectively. As of the end of 2020, a total of 489 million mt of iron ore reserves had been identified in the province. The Heilongjiang Natural Resources Department is closely working with government departments at all levels this year to actively develop mineral resources, which has guaranteed raw material supply for the steel industry.

Draft of carbon peak implementation finalised

On July 17, He Wenbo, Executive Chairman of the China Iron and Steel Association, stated at the 12th China Iron and Steel Energy Conservation and Emission Reduction Forum that China’s iron and steel industry has initially finalised the draft of the "Implementation of Carbon Peak". The first draft of the "Plan" basically clarifies the industry's peak path, key tasks and carbon reduction potential.

In addition, MIIT has held a teleconference last week in Beijing. The meeting emphasized that it is necessary to consolidate the foundation for the stable recovery and development of the industrial economy, plan to promote the recovery of consumer demand, expand effective investment in the manufacturing industry, and promote the resolution of financing difficulties and high costs for small and medium-sized enterprises. Also it is important to maintain the security and stability of the industrial supply chain, implement the requirements for carbon peak and carbon neutral deployment, strengthen overall planning, accelerate the formulation of key implementation plans in the industrial sector, as well as promoting green and low-carbon transformation, and optimisation and upgrading of the industrial structure.