Zhanjiang city’s mayor Wang Zhongbing said last week Baoshan Iron &Steel would get approval from National Development and Reform Commission of China for pending Zhanjiang integrated steel project, according to China Iron & Steel Association (CISA). The firm builds new integrated steel plant with 5 million tonnes of raw steel output capacity for the first phase and total 10 million tonnes of capacity for near 60 billion yuan. The firm tries to follow growing demand in Association of Southeast Asian Nations through the project.Many projects including steel and petrochemical are planned in Zhanjiang. The steel project is the main project for the city. The city builds major international port and transport road network. Baosteel tries to improve the efficiency of the steel industry through the project along with Guangdong’s economy development policy. The firm tries to reshuffle the old steel facilities into new efficient facility for better competitiveness and energy efficiency. National Development and Reform Commission already finished work to approve major steel plans of Baosteel’s Zhanjiang project and Wuhan Iron and Steel’s Fangchenggang project in Guangxi.
Japan Steel Scrap Composite Prices (Sangyo Press)10/18/2018
|36200YEN (-)||41300YEN (-)|
|318.38US$ (-0.82)||363.24US$ (-0.93)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)