In the first half of 2022, most Chinese steelmakers listed on stock markets disclosed their financial performance . The data suggests a reduction of approximately 53.0% y-o-y in their EBIT. A total of 27 listed steelmakers have disclosed their financial performance, out of which only five have reported positive growth in net profits while 20 steelmakers’ net profits decreased. The remaining two steelmakers have reported a net loss in the first half of 2022. The five steelmakers with positive profit growth are all special steels producers.

          A technology roadmap toward carbon neutrality has been prepared by the steel industry. On 18 August, the roadmap was disclosed at a meeting of CISA’s Low Carbon Steering Committee.       According to CISA’s press release, the roadmap consists of six pathways, including energy efficiency improvement of the existing systems, recycling and reuse of resources, innovation and optimization of existing processes, breakthrough of iron making steelmaking technologies, upgrade of steel products with high performance and durable steels, and carbon capture, use and storage (CCUS).

          Delong Group announced it will build a Green Field steel plant in Saudi Arabia. An agreement with a Chinese partner on the project was signed on 16 August. According to the announcement, Delong Group plans to build an EAF-based 10.0 Mt/a steel plant. An industrial park focusing on steel production and processing will be built around the new steel plant to attract more steel projects to the park. No detailed project schedule and product mix have so far been disclosed.