28 January 2019

Latest Steel Market News

Chinese stainless steel production increased by 3.62% in 2018

(Asia-Pacific): Crude stainless steel production in China reached 26.71 million tonnes in 2018, an increase of 3.62% from 2017, according to the Stainless Steel Council of China Special Steel Enterprises Association (CSSC). The output of four stainless steel products, namely chromium-manganese 200 series, chromium-nickel 300 series, chromium 400 series and duplex steel registered growth in 2018.

 

Tata Steel to sell its steel assets in Singapore and Thailand to China

(Asia Pacific): Tata Steel signed an agreement to sell 70% of its stakes in the two of its Southeast Asian assets to China’s HBIS group. The steel assets include its Singapore-based NatSteel Holdings Pte. Ltd and Tata Steel (Thailand). Tata Steel will retain a 30% stake in these operations through its subsidiary Tata Steel Global Holdings (TSGH).

 

India has become the world’s second largest steel producer

(Asia Pacific): India surpassed Japan to become the second largest steel producer in 2018, with China maintain its first position. In 2018, India produced 106.5 million tonnes of crude steel, up by 4.9% from 101.5 million tonnes from 2017.

 

China’s major steel producing city issues a smog alert

(Asia Pacific): Tangshan, a major steelmaking city, has issued “orange” or second level pollution alert for three days, effective from 28th January. Steel mills are directed to limit the sintering process by 30-60%, or even shut down based on their emission levels.

 

Steel production across all major regions increased in 2018, except Europe

(Europe): Crude steel production reached 1,808.9 million tonnes in 2018, registered a growth of 4.6% compared to 2017. All regions exhibited production rise except Europe, which accounted for 0.3% decline.