Updates From Leading Steel Manufacturers – 23/02/2024

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JFE Raises Both Domestic, Export Prices of All Items by 10,000 Yen from April

JFE Steel of Japan implements to raise both of domestic and export prices of all steel products by 10,000 yen per ton from April. Its cumulative rises in prices from the latter half of 2023 are 20,000~25,000 yen per ton. In light of progress of negotiations, the company intends to adjust markups individually and review them watching a price trend of each steel products if necessary.

The worldwide infation has an impact on Japan as well, and not only various product prices but also costs of labor and logistics are rising. As they are based on external factors including social requests.

Its cost cuts by self-help eforts have reached a limit. Under the situation, the company decided to revise its prices to secure an appropriate level in reproducible margins including needs of carbon neutral toward realization of the sustainable society, according to the company.

Steel manufacturer in Vietnam GTS Steel

Tokiwakai Distributors’ H-beam Stock at End Jan Rises by 2.8% to 208 t/t
= Such stock exceeded 200 t/t for 2 months in a row =

Nippon Steel of Japan released on 21st distributors’ inventory of steel H-beams at the end of January surveyed by the ‘Tokiwakai’ consisting of distributors and traders to handle steel H-beams produced by Nippon Steel. According to it, such inventory was 208 thousand tons (abbreviated as t/t), up 5,600  tons or 2.8% from the end of the previous month for 2 months in a row. In recent years, such inventory was the 2nd highest following 209 t/t at the end of March 2021.

The incoming inventory in January was 67.6 t/t, largely down 10 t/t or 12.9% from the previous month. While, the outgoing inventory in that month was 62.0 t/t, down 4.7 t/t or 7.0% ditto. The turnover ratio was 3.35, up 0.32 from the previous month. It rose at all 3 areas of Tokyo, Osaka and Nagoya.

Among distributors, such voice is appearing that there are no feelings of oversupply and excessiveness and devoid sizes remain continuously unchanged. As a feeling, an environment is likely not to have changed yet from the previous month.

On domestic steel demand for H-beams, equivalent volumes of fabricated steels in December last year based on the groundbreaking statistics was 330 t/t, up 15% from the same month of the previous year for the frst time in 2 month. The company is observing that large-scale redevelopment projects at the metropolitan area raised such equivalent volumes of fabricated steels.

However, cumulative volumes from April-December last year had dipped below those of the same period of the previous year, and on an annualized rate, they have not reached 4 million tons yet. While, in addition to redevelopment projects at the metropolitan area, talks about construction of new factories starting with semiconductors are appearing. As such, potential demand is imminent, and the company says to watch moves of such demand.

HRC steel manufacturer in Vietnam FHS

AM Decides to Withdraw from Italian Operations

ArcelorMittal (AM) released on 20th to withdraw from Acciaierie d’Italia (ADI, former ILVA) of Italy of which 62% AM holds. With the request of investment company Invitalia that owns the remaining shares of 38% of ADI, the Italian Government transferred the ownership of ADI to government appointed commissioners. Responding to it, AM decided to withdraw from ADI.

Ternium Reports Proft of $2,092 Million for FY2023
= Its shipments of the Mexican segment hit a record high =

According to consolidated fnancial and operational results for the fscal year 2023 released on 21st by Ternium of a leading steel maker to operate businesses in North and South Americas, its net sales were US$17,610 million, up 7.3% from the previous year, its operating income was $2,198 million,
down 18.6% ditto, and its proft for the period was $2,092 million remaining almost unchanged ditto.

Its margins per ton fell from the previous year but its shipments hit a record high and contributed to its proft.

Its shipments were 14,213 thousand tons, up 19.5% ditto. Of these, those at the Mexican segment were 8,355 thousand tons, up 22.1% ditto. Its export to Iran and demand for manufacturers were brisk, which contributed to its highest performance in the past.

Those of the Brazilian segment were 2,014 thousand tons, largely up 178.6% ditto driven by the consolidation of Usiminas’ performance from the 2nd half of the year, and those of the Southern Region were 2,271 thousand tons, down 3.9% ditto. Its revenue per ton was $1,197, down $156 or 11.5% ditto.

Hoa Phat Steel Sheet coated steel factory in Vietnam
Leading Vietnam’s steelmaker – Hoa Phat Group

Gerdau Reports Net Income of R$6,854 Million for FY2023

= The Brazilian market is softening due to a rise in import from China =
According to the consolidated fnancial results for the fscal year of 2023 released by Gerdau of a Brazilian steel manufacturer to operate steel businesses in North and South Americas, its gross proft was R$11,332 million (US$2,300 million at $1=RS4.93), down 16.4% from the previous year, and its net income was R$6,854 million, down 40.9% ditto. Compared to the fscal year 2022 when its performance recorded the 2nd highest, both of net sales and income fell largely.
Its output of crude steel was 11,560 thousand tons, down 8.8% from the previous year, and its sales quantity of steel products was 11,320 thousand tons, also down 4.9% ditto. In Brazil, import of cheap steel products from China is drastically increasing, and its sales to the domestic market decreased.
Therefore, the company has no choice but to divert certain domestic shipments to export. Its performance was affected more by a fall in sales quantity than a decrease in costs of raw materials including coal and ferrous scraps by 11% from the previous year.
Its CAPEX (capital expenditure) in the fscal year 2023 was R$5.7 billion ($1.2 billion), and of these, approximately R$3.2 billion were used for the maintenance of facilities, and approximately R$2.5 billion ($510 million) were invested in expansion and renewal of facilities in order to strengthen
competitiveness. Its planned investments in 2024 are R$6 billion ($1.2 billion).
hrc steel manufacturer in Vietnam GTS Steel
HRC steel coils ready for export. Photo: Hoa Phat Group

Jiangsu Shagang Leaves Late Feb Prices of All Steel Items Unchanged

Jiangsu Shagang of a Chinese largest private steel manufacturer released on 21st its list sales prices of steel products for the last 10 days of February and left its domestic prices of all steel products unchanged (including galvanized steel sheet in coils and hot rolled coils).
Prices did not fuctuate throughout February due to the Chinese New Year period. Its current prices of reinforcing steel bars are 4,240 CNY (approximately 88,500 yen) per ton to HRB400 and 4,440 CNY (92,600 yen) to HRB500. Those of steel bars in coil, steel wire rods and steel plates are 4,360 CNY (91,000 yen), 4,270 CNY (89,100 yen) to HPB300 and 4,600 CNY (96,000 yen) to Q235B respectively.
Its prices of hot-rolled steel coils are 4,380 CNY (91,400 yen) per ton to Q235B and 4,480 CNY (93,500 yen) to Q355B.

Japan’s Jan Crude Steel Production Decrease by 1% to 7.27 Mil MT

The Japan Iron and Steel Federation (JISF) released on 22nd a preliminary report of steel production in January 2024. According to that, pig iron production totaled 5,345,000 MT, up by 5.5% from the previous month and up by 0.3% YoY, and crude steel production totaled 7,266,000 MT, up by 4.0% from the previous month and up by 0.6% YoY.
By furnace type, the production quantity of converter steel was 5,427,000 MT, up 5.8% from the previous month and down 0.1% from the same month of the previous year. That of electric furnace steel was 1,839,000 MT, down by 0.8% from the previous month and up by 2.7% from the same month of the previous year.
By steel type, the production quantity of ordinary steel was 5,595,000 MT, up by 2.6% from the previous month and down by 0.1% from the same month of the previous year. That of specialty steel was 1,670,000 MT, up by 9.0% from the previous month and up by 3.2% from the same month of the previous year.

If you are looking for good quality coated steel sheet in coils (GI, GL, PPGI, PPGL) from leading steel manufacturer in Vietnam, kindly contact us at:

GTS Steel Pacific Ltd

Address: 2B NTMK, Dakao Ward, District 1, HCM City, Vietnam
Mobile/Whatsapp/Wechat: +84 907 112 447
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