Tangshan Xinbaotai to transfer steel capacity 

 

Tangshan Xinbaotai Iron and Steel will transfer 1.1mn mt of iron making capacity and 800,000mt of steel making capacity to Jilin Henglian Precision Casting, China’s Industry and Information Technology department announced the capacity transfer plan. Hebei Xinda Iron and Steel will build a 100-ton converter with 1.15mn mt capacity. The project is planned to be put into production in June 2020. 

 

Egypt Govt to invest more in railways projects 

The Egyptian government has announced LE141bn ($93.53mn) investment in railway projects. The ministry of transport has till date invested LE86bn and is likely to approve another LE55bn ($36mn) on July 1, 2020. Egyptian government has received total LE4bn from the Central Bank of Egypt, the National Bank and the Egyptian Bank for the rail road development. The projects are likely to increase domestic steel demand. 

 

China Dec unwrought Al exports drop by 9.3pc

 

China’s exports of unwrought aluminium and aluminium products dropped by 9.3pc from 527,000mt in December 2018 to 478,000mt in December 2019. The fall in exports was driven by a shortage of domestic and imported aluminium scrap, as major aluminium producer China Hongqiao Group was affected by floods and an explosion and restricted imports of aluminium scrap into China. The annual exports of unwrought aluminium and aluminium products also dropped by 1.2pc from 5.8mn mt in 2018 to 5.73mn mt in 2019.

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