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Try the Free AI Search EngineAsia Steel Market: Rising Quanzhou Activity Offsets Regional Dip, Rebar Focus
Asia’s steel market exhibits diverging trends. While the overall mean steel plant activity in Asia experienced a significant drop to 26% in July, according to satellite observations, activity at Fujian Quanzhou Minguang Iron and Steel Co., Ltd. surged. No direct link between this divergence and provided news articles concerning EU HRC markets (“European HRC trading still slow, with market divided over direction of prices“, “EU HRC imports rise in May“, “Stability in Romania’s rebar spot prices but slight price reduction by sole domestic producer“, “EU HRC stabilizes; summer sentiment remains weak“, “EU HRC stabilizes; summer sentiment remains weak”) can be established.
Guangdong Yuebei United Steel Co., Ltd., an integrated steel plant in Guangdong, China, primarily producing rebar for the building and infrastructure sector, maintained stable activity at 58% from May to July, consistently exceeding the Asian average, which dropped significantly to 26% in July. This facility utilizes BF and BOF/EAF technologies and has a crude steel capacity of 2,000 ttpa and an iron capacity of 800 ttpa. No direct connection between Guangdong Yuebei United Steel Co.’s activity and any of the provided news articles could be established.
SABIC Hadeed Al Jubail steel plant, a major integrated steel producer in Saudi Arabia with 6,000 ttpa crude steel capacity and 5,300 ttpa DRI capacity, showed a gradual decline in activity, reaching 36% in July, which is significantly below the Asian average. The plant uses DRI and EAF technologies, producing billets, slabs, rebar, wire rod, and various coils. No direct relationship between the activity decline at the SABIC Hadeed Al Jubail steel plant and any of the provided news articles can be confirmed.
Fujian Quanzhou Minguang Iron and Steel Co., Ltd., an integrated BF/BOF steel plant producing round bar, coiled rebar, and wire rod, saw its activity surge to 77% in July, a considerable increase from 62% in June and significantly above the average regional activity. The plant possesses a crude steel capacity of 2,550 ttpa and an iron capacity of 1,560 ttpa. This increase might indicate a focus on rebar production, but no direct correlation with the provided news articles focusing on the European HRC market can be established.
Given the sharp rise in activity at Fujian Quanzhou Minguang Iron and Steel Co. Ltd. and its focus on rebar production, coupled with the overall decline in mean Asian steel plant activity, steel buyers focused on rebar should:
- Monitor Fujian Quanzhou Minguang Iron and Steel Co., Ltd. output: Track production data and potential supply contracts from this plant closely to leverage increased output of rebar.
- Secure Rebar Supply: Given the increased production from Quanzhou, proactively establish or strengthen supply agreements for rebar, especially if relying on regional supplies where overall activity has dropped.