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Devoting itself to control overcapacity, China’s government plan to cut 1.8 million employees in steel and coal industry. The capacity-cutting move may pump up long term sluggish international steel prices. Chinese government announced recently their plan to cut 1.8 million workers, and 1.3 million of them are in coal-mining industry, with 50 million in steel industry.

The government had allocated 100 billion RMB for the use of the worker’s resettlement. This capacity-cutting policy was announced early in January 2016, targeting to reduce 1500 million tons of steel capacity (major construction steel , say steel bar, pc strand, anchorages etc.), and cut down coal output.

Last year, China produced 804 million tons of crude steel, almost the half amount of global total output. China government will face hard task. According to the Statistic Bureau of China, there are 12 million employees in these two industries in the country, which means cutting down15% workforce will make 1.8 million people lose their jobs. And a policy with more details is to released later this month.

Most producers in oversea counties may find this a favorable news. Take Malaysia for example, the country’s long steel product imports from China increased 28% yoy last year, leaving domestic industry huge impact.



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Customs tariff Commission of the China State Council announced that import and export duty will be partly adjusted since January 1st 2016.



To ensure the stable growth of import and export market, accelerate the imports of advanced technology, products and service, promote domestic independent innovation industry, this time adjustment will continue to encourage imports of imperative advanced equipment, key component and energy raw material. This move will also add more goods for everyday consumption into duty reduction list. In the same time, the export tax of pig iron, billet will also be reduced.



It is estimated that the export duty of screw threaded steel bar, steel wires may also slip. Currently, the export tax of pig iron and common carbon steel billet is 25%, and that of square billet, deformed steel bar, and steel wire is 15%.


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In 1670s, human started to use pig iron as a construction material, before applying wrought iron to build bridges, houses in the beginning of 19th century. The low strength and poor combination property of these kinds of steel materials hinder them from meeting requirements. That is the earliest time people started to steel structure. After middle 19th century, civil engineering made a great leap with increasing grades and types of steels, higher strength and welding technologies.

Construction steel is commonly divided into structural steel and concrete steel. The former mainly includes common carbon steel and low alloy steel, with types of steel profiles (angle, H beam, box iron), steel pipes and rebar. According to different process methods, concrete rebar can be divided into hot rolled coil, heat-treated reinforcing bar, cold-draw steel rod, cold-draw low carbon wire and deformed steel bar; and it can be divided into plain surface rod and deformed steel bar according to surface appearance; and it can be divided into 5 class – I, Ⅱ, Ⅲ, Ⅳ, V as for tensile strength.

Construction steel is one of the four major materials of civil engineering – steel, concrete, wood and plastic. And in steel industry, without special instructions, construction steel refers to the most used steel wires and deformed steel bars.
There are two kinds of classification of deformed steel bar:

The first one is classified by geometrical shape: the shape of cross sections and the distant between two ribs. For example, deformed steel bar is divided into classⅠand classⅡ according to the England standard BS4449. This classification mainly reveals the clench performance.
The second one focuses on property. According to China’s executive standards (GB1499.2-2007), hot rolled ribbed bar is divided into 3 classes in line with (yield/tensile) strength.

Rebar is indispensable steel products for medium and large scale constructions. China imports the product mainly from countries in the Western Europe, and exports increasing amount of rebar abroad. Most the steel enterprises in the second largest economic entity come from cities or provinces including Beijing, Tianjin, Shanghai, Wuhan, Sichuan, Liaoning etc.

The cross sections of deformed steel bar manufactured in China mainly in shape of spiral, herringbone and crescent.
Rebar’s specifications should be illustrated in contracts which include items including grade, nominal diameter, nominal weight, length and according tolerances of all the items.

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According to the country‘s ministry of development industry and foreign trade (MDIC), in April, 2015, Brazil imported 41,100 mt of steel rebar, increased 180% to a record high from that in March. But, the price went down by 5.4 percent from the $544/mt FOB of March to an average FOB price of $514/mt.

In spite of being a large producer of steel rebar and having its mini-mills currently operating at a low production pace, Brazil remains attractive for imported steel rebar due to the high domestic prices, which according to a distributor in the southeast are currently at $1,118/mt, CFR full taxes for the CA50 grade, 10mm thickness product, stable since a 12 percent increase since April l.

According to the sources, the reason the local demand for rebar remains low is because of the stoppage of works directly or indirectly linked to the oil company Petrobras who is under investigation on accusations of corruption. Meanwhile, Brazil exported 27,500 mt of steel rebar in April, declined 21% from that in March, at an average FOB price of $650/mt.


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