Domestic Steel Updates
Shougang Jingtang Successfully Trials 0.7mm Ultra-Thick Tinplate
Shougang Jingtang’s Tinplate Division has achieved a new milestone on its No.2 production line with the successful trial rolling of a 0.7mm ultra-thick tinplate coil. Both surface quality and mechanical performance met all technical control requirements, marking the company’s first industrial trial production of this extra-thick tinplate specification.
Jincheng Iron & Steel Records Breakthrough in High-Speed Wire Rod Production
Jincheng Iron and Steel Holding Group announced a major technological advancement as its dual high-speed wire rod line successfully trial-produced HRB500E small-diameter deformed rebars in 8mm and 10mm sizes. This achievement represents a significant step forward in the company’s high-speed wire rod manufacturing capability.
Global Stainless Steel Producers Step Up Output Cuts
Amid mounting inventory pressure and sluggish downstream demand, stainless steel producers both in China and overseas have continued to announce production cuts and temporary shutdowns. From a market perspective, prices in Foshan remain relatively stable, while Wuxi has seen price declines ranging from 50 to 100 RMB per ton.
Profit Gap Widens Among 34 Steel Enterprises
The latest profit rankings reveal sharp performance divergence across major steelmakers. Several companies, including Benxi Iron & Steel (loss of 2.2 billion RMB), Lingyuan Iron & Steel (800 million RMB loss), Jiuquan Iron & Steel (700 million RMB loss), Bayi Iron & Steel (500 million RMB loss), and Chongqing Iron & Steel (200 million RMB loss), posted significant losses. In contrast, leading private steel producers reported year-on-year profit growth as high as 400%.
International Market & Policy Highlights
Red Sea Shipping Recovery Still Uncertain; Freight Rates Remain Stable
According to Braemar, even if shipping lines begin restoring Red Sea routes early next year, full operational normalization may not be realized until mid-2026. On the freight market, the Baltic Dry Index (BDI) currently stands at 2,583, while the Europe route index holds steady around the 1,500–1,600 range.
Dollar Index Softens as Rate-Cut Expectations Strengthen
The US Dollar Index, tracking the greenback against six major currencies, edged down by 0.03%. Meanwhile, Bank of America adjusted its outlook for the Federal Reserve’s December meeting, forecasting a 25-basis-point interest rate cut, in line with expectations from several other financial institutions.
South Korea Initiates Anti-Dumping Probe on Chinese Galvanized Steel
On November 28, the Korea Trade Commission formally launched an anti-dumping investigation into galvanized steel sheets and zinc-coated corrosion-resistant plates imported from China. The action was initiated in accordance with Article 60, Paragraph 3 of South Korea’s Customs Tariff Act.
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