International Steel Mills
China Raising Electric Rates for Outdated Mills
Written by Sandy Williams
January 4, 2017
Outdated steel mills in China will pay about 66.7 percent more per kilowatt for electricity as of January 1 this year.
The National Development and Reform Commission raised the rate on outdated steel companies that are scheduled to be phased out as part of the effort to reduce steel capacity and encourage supply side reform.
NDRC says others producers who do not meet capacity-cut goals will receive the same penalty. Local authorities are permitted to increase the rates even further to encourage compliance.
In 2004, the NDRC has implemented a three-tier pricing system for eight energy-intensive industries. Companies within the industry are categorized as “encouraged,” “restricted,” or “outdated” with pricing varying dependent on classification.
Sandy Williams
Read more from Sandy WilliamsLatest in International Steel Mills
CRU: Bids made for Ilva assets
The Italian government has received 10 offers for the former Ilva integrated steel works at Taranto, but only two bidders are interested in purchasing all of the company’s assets.
Global steel production declined through August
August marked the second-lowest monthly production rate this year, down 13% from the two-year high of 166.6 million mt in March.
Algoma Steel assesses viability of US sales in wake of 50% S232 tariffs
Canadian flat-rolled steelmaker Algoma Steel is reconsidering its presence in the US market after the doubling of US Section 232 tariffs on imported steel to 50%, a company spokeswoman said.
Nippon plans to double steel output at USS operations: Report
Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.
Global steel mill output steady through May
Global raw steel production rose 2% from April to May, slightly above average production levels seen in recent months, according to data recently released by the World Steel Association (worldsteel).