Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s Shanxi Taigang Stainless Steel Company (Tisco) produced 10.85mn mt of steel in 2019. The company produced 4.17mn mt of stainless steel, down by 1.17pc from a year ago. Taigang’s total steel sales volume was 10.11mn mt for the year, stainless steel sales were 3.75mn mt.


Steel exports were 937,700mt, including 697,800mt stainless steel in 2019. Amid the trade war with the US, the Chinese steelmaker redirected its stainless steel exports to Europe, Africa, Australia and other regions. Exports to these destinations increased by over 40pc, while the direct supply of stainless steel to Taiwan rose by 20pc compared to the prior year.


In a bid to protected domestic European producers, on April 7 the European Commission imposed the highest rate of provisional anti-dumping duty of 18.9pc on Taigang’s stainless steel exports into Europe.


Shanxi Taigang’s operating income in 2019 fell by 3.46pc to CNY70,41bn from CNY72.94bn a year ago as the price of steel declined compared to the previous year while that of raw materials including iron ore and nickel rose to reduce the company’s profitability.

In Q1 2020, Shanxi Taigang’s operating income was CNY15.58bn, down by 8.73pc from CNY17.07mn a year ago as the impact of COVID-19 pandemic impacted the company’s performance.


Shanxi Taigang Stainless Steel Company produces stainless steel, carbon steel hot-rolled coil, cold-rolled silicon steel, train axle steel, alloy die steel, electromagnetic pure iron and other metallurgical products.

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