International Steel Mills

Chinese Steel Exports Down Sharply in May
Written by Tim Triplett
June 9, 2020
China’s steel exports in May decline by 23.3 percent compared with May 2019 to about 4.4 million tons. Global demand for Chinese steel products remains weak as economic activity around the world is hampered by the coronavirus. “Customers in each country are losing their willingness to buy,” said a Steel Market Update source in the region. Various countries have filed antidumping cases against China, adding to the resistance to its steel exports.
The recovery of China’s economy as coronavirus restrictions have been lifted has added to domestic demand, raising steel prices on the home front. Chinese mills do not want to export if it would force them to cut prices. “At present, no one sees that China’s export prices for steel products are cheap,” said the source.
China’s cumulative steel exports from January-May totaled 25 million tons, down 8.4 percent from the same period last year. If this pace continues, China’s exports will total a little over 60 million tons in 2020, the lowest level since 55.7 million tons in 2012.
China’s steel imports increased in May by 3.9 percent to nearly 1.3 million tons compared with the same month last year. That total was a 27.5 percent jump from the prior month. Much of the imported steel was in the form of slabs and billets for rolling as not all of China’s domestic steelmakers have resumed upstream operations. Cumulatively, Chinese steel imports from January-May totaled nearly 5.5 million tons, a 12 percent increase from the same period last year.

Tim Triplett
Read more from Tim TriplettLatest 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).