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S Europe rebar sellers try to hike September shipment prices - 2 August 2012

Sellers of rebar in southern Europe are trying to carry out increases of up to €20/tonne ($24.6/t) for September shipment sales compared with those made in the mid-July spot market, market participants have told Platts Steel Business Briefing.

Two major producers in Spain were looking to push rebar above €500/t fob, with one having achieved good volumes of sales in recent weeks to Brazil and Israel when the euro was weaker against the US dollar. Only a Lebanese buyer was heard considering two offers at Eur485/t fob Seville mid-week.

Consistently strong scrap prices in Spain are one reason for the hike, although Spanish rebar (along with other eurozone suppliers) has been more competitive than Turkish or CIS material in markets such as Lebanon in the last few weeks, due to currency advantages (and an existing duty advantage).

Italian rebar offers for September were at €490-495/t fob, while Greek offers towards Cyprus and Lebanon were seen at €500/t fob mid-week. These increases will ease the pressure on Turkish and Black Sea rebar further, especially as the euro has strengthened in the last week.

Due to the recent currency advantages, mills in Italy and Spain are likely to keep their production lines running for longer than initially expected in August, having pulled off some good orders to regional markets.

 

Archive Press Release

Nucor, Metinvest, CSN submit bids for Sparrows Point - 30 July 2012

Three companies submitted bids by last week's deadline for RG Steel’s Sparrows Point sheet mill in Maryland, a source familiar with the negotiations confirmed to Platts Steel Business Briefing. The three companies are US-based minimill Nucor, Brazilian steelmaker CSN and Ukraine mining and steelmaking group Metinvest.

 

Most markets remain very soft, prices fluctuate near costs - 27 July 2012

Global steel markets remained very soft last week, reflecting continuing high levels of crude production, the depressed economic outlook and poor sentiment. US coil prices, plus a few others, showed some life, but most declined.

 

HRC price hike partly sticking; US market skeptical - 26 July 2012

The US market appears to have accepted half of a recent $40/short ton hotrolled coil price hike, but skepticism is building, according to market observers.

 

EU coil producers hope for September recovery - 25 July 2012

Major coil suppliers in Europe are reporting the market being slow, due to the summer holidays in most of the continent. Nevertheless a recovery could be seen in early September as stocks in the market remain low and imports are un-competitive due to the weakness of the euro.

 

CRC import prices dip in weak SE Asian market - 24 July 2012

The import market for cold rolled coil in Southeast Asia continues to falter with prices coming down by $20-40/tonne in the past month. Offer prices for Chinese-origin annealed 1mm base CRC have fallen to $650-660/t fob depending on mill, trading sources said. Chinese offer prices were at $670-680/t fob in mid-June.

 

CIS billet prices slip on bleak fundamentals, low demand - 16 July 2012

The very few steel billet deals concluded on Friday were mainly on the pre-payment basis, with one trader taking 30,000 tonnes of Belorusian Steel Works August-produced billet at $530/tonne fob Black Sea on a 100% prepayment basis and a 5,000t load-ready lot from the Black Sea producer with a very small prepayment at $537/t fob Black Sea, Platts Steel Business Briefing learned from the market sources.

 

Emirates Steel lowers rebar price as Ramadan approaches - 13 July 2012

United Arab Emirates-based steelmaker Emirates Steel (ESI) has set its rebar price for July and August bookings at AED 2,425/tonne ($660/t), down AED 110/t ($30/t) on June. The reduction is attributed by traders to the weak domestic rebar market and the slump in billet and scrap prices throughout most of June which saw Turkish rebar export offers decline. Ramadan, during which few bookings take place, is also around the corner.

 

Sanctions hit Iranian steel imports, but exports increase - 11 July 2012

Iranian imports of finished and semi-finished steel decreased 23% year-on-year in the first three months of the current Iranian year (21 March-20 June), totalling 1.69m tonnes, according to a domestic economic report; billet imports fell 28% y-o-y to 706,000t. Finished product exports, however, increased 69% y-o-y in that time period to 400,133t.

 

Chinese HRC market sloth continues as prices fall further - 10 July 2012

Sluggish buying pulled Chinese domestic hot rolled coil prices down further on Monday despite the interest rate cut last week. Meanwhile, China’s consumer price index was up 2.2% in June, the lowest growth in 29 months. Although the cooling inflation leaves more room for monetary loosening for the rest of this year, it also indicates a continued slowdown of China’s economic growth which, in turn, explains the slothful steel market, some traders say.

 

EU CRC market activity slightly up, prices stabilise - 9 July 2012

Activity in the European cold rolled coil market has risen slightly over the last ten days, with buyers ordering for September requirements as they have low inventories.

 

High US dollar drives price increases in Brazilian steels - 6 July 2012

The recent appreciation of the US dollar by 10% against Brazil's real has stimulated Brazilian steelmakers to raise prices between June and early this month by 4-8% for flats and 8-9% for longs.

 

EU coil traders report a slight increase in enquiries - 5 July 2012

Traders of flat products in Europe have registered a slight increase in enquiries from customers since the main local mills, such as ArcelorMittal and Tata Steel, have announced the intention to increase their selling prices. Buyers are currently actively looking for material to be delivered at the beginning of the fourth quarter as stocks are relatively low, but concluded deals remain few.

 

Russian sheet prices soften on wider discounts - 4 July 2012

July is seeing domestic prices for hot rolled and cold reduced cut sheets from major Russian integrated producers weaken for the third month in a row, this time by 0.5-3% from June levels. Although official price lists remain unchanged, almost all major coil mills are charging slightly less by increasing discounts this month, several stockholders told Platts Steel Business Briefing.

 

NW Europe rebar prices fall on weak demand and scrap - 3 July 2012

Rebar prices across northwestern Europe have fallen by €5-10/tonne in the last fortnight on cheaper scrap and weak demand, market participants told Platts Steel Business Briefing.

 

Special Report: China’s daily output dips, stocks rise - 2 July 2012

China’s daily crude steel output over the second ten days of June fell slightly from the month’s first ten days, China Iron & Steel Association (CISA) data tabled Friday showed. But market watchers noted that, with daily output still close to 2m tonnes, market prices in July will likely hover at low levels with limited upward potential.

 

Rising stocks put Chinese plate prices under pressure - 26 June 2012

Rising inventories at retailers are likely to put prices of medium plate under downward pressure, both within China and for export sale, market participants said on Monday. Stocks of plate grew by another 27,600 tonnes or 1.8% over the week of 18-22 June to 1.52mt nationwide, a Beijing steel research institute reported, quoting the latest China Iron & Steel Association statistics.

 

Brazilian longs export prices flat, mills focus on home mart - 25 June 2012

Brazilian export prices for light long products are static, as mills are preferring to reduce foreign shipments rather than lower prices. Sources said local producer Gerdau is not interested at all in exports at the moment, and is instead focused on selling into the domestic market.

 

Indian HDG export prices stable amid subdued demand - 22 June 2012

Indian export offer prices for hot-dip galvanized coils have held mostly stable over the past fortnight, with most suppliers reluctant to lower their offers despite demand remaining subdued. Many market participants now believe that any attempt to lower offers is unlikely to stoke buying interest, and that local producers would prefer to trim production instead.

 

HRC market stabilises in N. Europe, weakens in S. Europe - 21 June 2012

Following ten days in which most buyers were assessing the increase announcements made by major suppliers, participants in the European market report that in northern Europe, mills are firmly trying to pass on slight increases, while extremely weak demand is continuing to weigh on the southern Europe market.

 

 

Worldsteel chief: ‘combined solution’ key to climate change - 20 June 2012

World Steel Association director general Edwin Basson said all industry – and all industrial nations – must be included in ongoing efforts to curb carbon emissions, not just steel.

 

Sheet prices down a further $10/t in Turkey, outlook unclear - 19 June 2012

Turkish flat steel producers have lowered their prices $10/tonne for August production. Demand is still weak and not expected to pick up in the short-term owing to continuing economic worries in export markets, most notably Europe. However, stock levels of flat steel in Turkey are very low as few bookings have been made since prices started to decline in the first quarter.

 

Brazil's slab export prices near 'bottom line' - 18 June 2012

Declining prices of CIS-origin slabs and softening demand in Asia have pressured Brazilian mills to cut their slab export prices by about US$45/tonne for July shipments, trading companies said.

 

As global economy stagnates, steel prices may be near floor - 15 June 2012

Global economic output has been steady in recent weeks, with the slow rates of expansion in manufacturing being offset by increases in services. While growth continued in China, USA, India and Russia, though more slowly than recently, Japan and Brazil were stagnating. Eurozone uncertainties continued to plague the region and most other economies; German industrial production fell by 2.2% m-o-m in April.

 

Line pipe market outlook gloomy in the USA - 14 June 2012

American market sources who spoke to Platts SBB on Wednesday had very few positive things to say about the line pipe market.

 

Chinese plate export price steady after losing $20-30/t - 13 June 2012

Export prices for Chinese 20mm thick boron-added commodity-grade plate have stabilised at about $600/tonne fob on slightly better demand. Chinese market sources maintained that these prices are close to bottom.

 

OECD sees economic slowdown in China, India - 12 June 2012

Economic activity indicators in China and India are showing signs of slowing as sluggish activity in both France and Italy continues to drag down the euro zone, the OECD said on Monday. The composite index of leading indicators continues "to point to divergence between economies" worldwide, the Organisation for Economic Cooperation and Development said.

 

Rebar prices steady in Germany, weaker in France - 11 June 2012

Rebar prices across northwestern Europe displayed varying trends last week. German and Benelux prices were stable at the previous week’s levels, while French prices declined, market participants told Platts Steel Business Briefing.

 

Global economy slows further, steel demand and prices hit - 8 June 2012

The world economy was close to stagnation in May, according to the JP Morgan global manufacturing purchasing managers’ index. It fell to 50.6 for the month as orderbooks were lacklustre and international trade declined. National data from around the world, including Korea, Japan, China, Indonesia, Brazil, Europe and the USA also showed slower growth; in contrast both Russia and India had PMIs well above 50.

 

US sheet market searches for spot pricing bottom - 30 May 2012

US spot sheet prices faced significant headwinds this week, as both analysts and market sources expressed negative sentiments regarding the near-term domestic outlook - even as some capacity appears likely to go offline.

 

HRC prices show most upturn in China - 29 May 2012

Chinese domestic hot rolled coil prices slightly rebounded on Monday in tandem with recovering screen trading prices.

 

SMA recognizes innovation, sustainability and safety efforts - 29 May 2012

SBB 16 May The Steel Manufacturers Association recognized a number of companies and individuals Tuesday at its annual members conference in Washington, DC, highlighting achievements in US minimill steelmaking innovations, safety, environmental stewardship and community involvement.

 

EU sections buying remains slow - 28 May 2012

European sections prices have been unchanged since the first two weeks of May when producers announced new increases. Buying remains slow and stockists complain that the weak construction sector has cut margins, Platts Steel Business Briefing learned from market sources.

 

LKAB declares force majeure as strike idles Norway railway - 28 May 2012

Swedish iron ore miner LKAB has declared force majeure as a result of a major strike in Norway which has completely halted its rail shipments from Kiruna to the port of Narvik.

 

HRC prices in Europe touch €500-510/t base - 25 May 2012

Sources in the European coil market continue reporting mixed views. While everyone agrees the market is slow due to the reluctance of buyers to place orders at the moment, the pricing picture remains uncertain.

 

EU OKs compensation for big energy users hit by power costs - 25 May 2012

European steelmakers have oft bemoaned the costs of emissions trading systems. This includes the indirect costs from higher energy prices as weell as the direct costs of emitting greenhouse gases. Now the European Union has agreed to allow some compensationfor higher electricity prices. Although this will not eliminate the added costs to steelmakers, it should, if memebr states provide the cash for compensation, mean that the future of EAF steelmakers in Europe will be decided by market conditions, not by environmental regulation.

 

China's domestic, export CRC prices continue downwards - 24 May 2012

Chinese domestic cold rolled coil prices have continued trending downward this week, especially in Guangdong’s Lecong steel market where the price decline has accelerated on fears of rising stocks and poor prospects, dealers said Wednesday. In parallel, the falling domestic prices and sluggish overseas demand have seen Chinese CRC export prices weaken too, they said.

 

Slab import market in East Asia hit by bearish sentiment - 23 May 2012

Market sentiment for imported commercial-quality slab is very weak in East Asia due to the softening of flat steel markets. The regional steel import markets have been adversely affected by the ongoing euro zone debt crisis, as well as the slide in regional Asian currencies against the dollar.

 

Turkish mills consider long product output cuts in June - 21 May 2012

Turkish steel producers are considering making cutbacks in production for June as demand for rebar remained slow last week, but prices for scrap continued to pressurize margins and only suggested falls towards the end of the week, market participants told Platts Steel Business Briefing on Friday.

 

EU billet exports competitive on weak euro and slow demand - 16 May 2012

The weakness of the euro during the last ten days has made the billet export offers from European countries such as Spain and Italy increasingly competitive. In addition to that, the weak demand in the domestic European market has pushed offer prices down somewhat this week compared with last week.

 

US March imports reach recent record at 2.78m t - 15 May 2012

The final volume of steel delivered into the US in March was 2.78m tonnes, up 12.7% from February's 2.47m t and the highest monthly level in at least the past year. The next highest month was May 2011, when 2.69m t were shipped to the US, according to US Department of Commerce data.

 

Russian sheet prices droop as supply exceeds demand - 14 May 2012

Domestic prices for hot rolled and cold reduced cut sheets from major Russian integrated producers have weakened by 2.5-3% from April levels as supply is exceeding demand, market participants told Platts Steel Business Briefing.

 

DOWNSTREAM MALAISE REVEALS SOFTENING US REBAR PRICES - 11 May 2012

Though many say that rebar prices have been flat for weeks, US service centers are quoting lower numbers to customers and there’s the sense that prices are sliding.

 

CIS billet market at a crossroads, market awaits mill offers - 10 May 2012

The CIS commercial billet export market is not active at the moment, as producers are only expected to come out with June casting offers today. Traders and re-rollers in Turkey claim they are able to buy at the levels equivalent to $590-595/t fob Black Sea, and $610-614/t cfr Southern Turkey, but there were no confirmations of deals going through at these levels yesterday.

 

Brazil's tube imports see lowest level in six months - 9 May 2012

Imports of tubes and pipes in Brazil reached their lowest level since last November, dropping by 18.6% month-on-month in April to 15,679 tonnes, which is 25.2% below the same period last year at 20,962 t.

 

Chinese hot rolled coil prices continue to descend - 8 May 2012

Chinese domestic hot rolled coil prices have continued to trend downwards since the start of May amid negative outlook for the market in the following months.

 

Offers from stocks at EU ports weighing on HRC prices - 4 May 2012

The coil market in Europe remains fairly quiet this week, as most of the countries enjoyed two days holidays and buyers keep placing only small orders waiting for more clarity regarding prices, Platts Steel Business Briefing learned from market sources.

 

European rebar prices come under downward pressure - 3 May 2012

Activity in Europe has been muted, with few rebar transactions concluded owing to the Labour Day holiday, while soft demand and financing constraints are putting pressure on rebar prices which are on the verge of further decreases, Platts Steel Business Briefing learns from market participants.

 

US imports likely up 6% m-o-m in April - 2 May 2012

The USA appears to have imported 6% more steel products in April than in March, according to government statistics released late yesterday. Final licenses to import steel in April stood at 2.79m tonnes, compared with the March preliminary import count of 2.63m t.

 

Weekly scrap wrap: Prices weaken in Asia, steadier elsewhere - 1 May 2012

In North Asia’s scrap market last week, the purchase price the Korean mills were offering for Japanese scrap fell by ¥500/tonne ($6/t) week-on-week. Hyundai Steel bought H2 grade scrap at ¥32,000-32,500/t ($393-399/t) fob for June delivery. It also booked one US-bulk HMS 1 scrap cargo at $459/t cfr for June shipment and recently contracted to buy an estimated 10,000-20,000 t of Russian A3 grade scrap at $459/t cfr for June arrival. Domestic scrap buying prices in Korea also weakened.

 

Iron ore prices ticked down over course of last week - 30 April 2012

Downtrending steel prices filtered into the seaborne iron ore market early last week as squeezed margins discouraged Chinese mills from paying high prices for their key raw material.

 

China’s daily output still over 2m t/d as capacity grows - 27 April 2012

China’s daily crude steel output during the second ten days of this month was estimated at 2.005m tonnes/day, down 1.26% from the first ten day’s 2.031m t/d, according to China Iron & Steel Association (CISA). Market participants believe steel output will stay at high levels through quarter two which usually sees stronger demand than the first and third quarters.

 

"Panicking" producers put pressure on EU coils: mill source - 26 April 2012

The flat steel market remains quiet, but producer sources expect a new wave of purchases, as stocks are low at distributors and service centres. Nevertheless, some suppliers are reported to be “panicking” and giving discounts, triggering possible further price reductions.

 

EU sets ten-day deadline for comment on big stainless merger - 23 April 2012

The European Commission is seeking comments by the end of this month on the proposed acquisition by Finnish stainless steel producer Outokumpu of Germany-based Inoxum, the stainless steel arm of ThyssenKrupp, the EC said on Friday.

 

Suppliers face weaker markets, economic uncertainty goes on - 20 April 2012

Last week’s steel markets in northern Europe and North America showed some signs of weakness and probably continue to lack the strength to support any new Q2 price increases. Though benchmark HRC prices did not fall in either region, they were down a little in southern Europe, with mills doing much of their business towards the bottom of their ex-works ranges. It still remains unclear whether demand will be sufficient to maintain these existing strip prices or whether they will slowly fall during the next few months.

 

Indian HDG export offers weaken as some mills seek orders - 19 April 2012

Indian export offer prices for hot-dip galvanized coils have weakened by $5-10/tonne over the past week as some exporters are now willing to consider lower prices for large volume orders, market sources told Platts Steel Business Briefing.

 

P&T price hikes hitting US market; market hitting back - 18 April 2012

Pipe and tube pricing appears to be on the rise in the US, despite apprehension about both skelp pricing and end-use demand.

 

Uncertainty keeps buyers in wait‐and‐see mode - 17 April 2012

Moves by producers to raise prices in a number of countries and regions seemed to be failing in the week ended 6 April: reduced buying activity has mostly meant insufficient support for any increases. Many markets were probably slightly oversupplied in part due to holidays and in part due to lower than hoped-for offtake. Buyers remained uncertain as to real end-use demand; they believed they could afford to wait a little to see actual Q2 trends.

 

Weekly iron ore wrap-up: IODEX sees first rise in nine days - 16 April 2012

Spot iron ore prices started last week on a muted tone. Trading was thin on Monday as the market was awaiting looser monetary policies to spur steel consumption in China. The re-emergence of BHP Billiton in the spot market was seen Tuesday after a near-two-week absence due to holidays. The miner sold a Capesize of 62.7% Fe Newman and 57.5% Fe Yandi fines at $151.16/dry metric tonne and $136.51/dmt CFR Qingdao.

 

Weak demand and uncertainty weighs on European rebar market - 12 April 2012

Soft demand, reflecting uncertainty about the European economic outlook, and the exchange rate are continuing to weigh on the latest rebar offers in the European market, market participants told Platts Steel Business Briefing.

 

European domestic plate prices stable, import slow - 11 April 2012

European domestic commercial plate prices are steady as producers for the moment have decided to abandon the possibilities of new increases due to poor demand, while import prices have increased slightly as the dollar has strengthened, market sources told Platts Steel Business Briefing.

 

US surcharge benchmark drops $10, yet flat prices expected - 10 April 2012

After a couple weeks of shredded scrap prices trending down, the industry benchmark price used to set US scrap surcharges for long products and plate dropped $10/long ton from last month's level.

 

Rebar prices rise in Brazil due to construction boom - 5 April 2012

Brazilian domestic prices for long products appear to be recovering, boosted by huge demand from the construction sector – especially from the government's new infrastructure program and housing projects.

 

Stable prices expected in US; European outlook lower - TSI - 4 April 2012

Almost two-thirds of companies in North America expect steady prices in the next three months, according to the latest carbon steel market survey results from The Steel Index (TSI) released this week, with equal numbers anticipating higher or lower price levels. More respondents in Europe expect lower prices than higher in the next three months. All US companies foresee better or steady demand, although the majority of European companies expect unchanged offtake.

 

US market wary of second sheet price hike - 3 April 2012

Market chatter Monday centered on a $20/short ton price hike being attempted by ArcelorMittal USA, taking its ex-works hotrolled coil list price to $720/s.t.

 

NW Europe rebar declines on weak demand - 2 April 2012

In northwestern Europe, rebar transaction prices for April delivery have fallen by €10/tonne ($13/t) on weak demand since the middle of last week, market participants said. Deals for April delivery from German mills are being concluded at €550-560/t effective delivered, while Polish mills’ prices are at €540/t delivered to Germany, and Italian and Spanish mills are selling material to southern Germany at around €540-550/t delivered.

 

CIS billet prices hold firm on strengthening demand - 30 March 2012

Prices of billet offered from CIS producers – currently Russian and Ukrainian – and traders have remained strong at and above the $600/tonne fob Black Sea levels, market sources said. The $600-615/t fob Black Sea price range has held for the past two weeks, with little exception.

 

China’s steel industry tops 20m UN carbon credits - 30 March 2012

Earlier this year, China’s steel industry earned its 20 millionth carbon credit. Projects such as the Clean Development Mechanism have helped steelmakers, especially in China and India, to find financing for energy efficiancy investments. With India introducing its own energy efficiency certificate trading suystem and China looking at various ways to price carbon these kinds of scheme are likely to continue aiding investment. To hear what other factors are driving investment in the steel industry come to SBB’s third annual Green Steel Strategies conference in Berlin on 19-20 April.

 

EU coil market remains stable - 29 March 2012

The prices of hot-rolled coils and cold-rolled coils in Europe remain stable, as domestic producers have not been able to pass on further increases and purchasers are unsuccessfully bidding for discounts.

 

Slackening China coil imports ease pressure on EU trade case - 28 March 2012

The near disappearance of Chinese hot rolled coil imports from the European market means that there is little risk of the European Union applying countervailing duty measures on imports of HRC or cold reduced coil, industry experts told Platts Steel Business Briefing on Tuesday.

 

CIS longs export prices hold, mills push for more increases - 27 March 2012

Prices of wire rod and rebar from Ukraine and Belarus have increased again following their February rebound. Wire rod (both mesh and drawing quality) has increased from $660-670/tonne fob Black Sea in late-February to concluded levels of $680-685/t and offers of up to $695/t fob Black Sea in the last week. Rebar prices have risen from $640-645/t to $655-660/t fob Black Sea in the same comparison, market sources tell Platts Steel Business Briefing.

 

EU engineering steel market weak, prices under pressure - 22 March 2012

European engineering steel producers are struggling in a weak market, with offers ranging from €680-700/tonne ($897-923/t) ex-works for grade C45 50-150mm hot rolled bars, Platts Steel Business Briefing hears from industry sources. Last month offer prices for this grade were at €690-755/t delivered.

 

Brazilian billet export prices showing signs of recovery - 21 March 2012

After dipping slightly in the previous month, export prices for Brazilian billets increased by around US$20-30/tonne for April shipments.

 

CIS billet export prices slide as demand cools off - 20 March 2012

Prices of billet offered for export by CIS producers have declined; one trader has booked 5,000 tonnes of Russian April load readiness commercial billet at $595/tonne fob Black Sea, the trader tells Platts Steel Business Briefing. "There is plenty of billet available at the moment for April load readiness; we booked the mill that was first to accept the bid," he said.

 

India hikes import duty on flat products to 7.5% from 5% - 19 March 2012

India is lifting the customs duty levied on imports of coated and uncoated non-alloy flat steel products to 7.5% from 5%, the country’s finance minister Pranab Mukherjee announced when presenting the national budget for the April 2012-March 2013 fiscal year. The increase would take effect from 00:00 hours on 17 March.

 

Importers say Brazilian crackdown on Asian steel is illegal - 16 March 2012

News the Brazilian government may introduce stricter port inspections and tougher regulations on Asian steel imports has triggered concern among importers who claim the move would be illegal under international trade laws.

 

Indian buyers look for longs imports as local market surges - 15 March 2012

Steel importers in India are looking to import bar and billet on the back of hikes in local market prices caused by increased construction activity in the country, market participants tell Platts Steel Business Briefing.

 

Rebar prices increase strongly in China - 14 March 2012

Northern Chinese rebar prices have maintained a strong upwards trend after Hebei Iron & Steel (Hegang) raised its mid-March prices by RMB 100-150/tonne ($16-24/t) on Monday. Market sentiment has been driven by the hope that end-user demand could increase thanks to warming temperatures, as well as by higher mill prices.

 

HRC prices in Europe stable below mills’ target, CRC up - 13 March 2012

Hot rolled coil prices in northwestern Europe have remained stable during the last week, as sources in Germany and Belgium report deals made for May delivery in the range of €540-560/tonne ($710-737/t) ex-works base. Mills are holding firm to their higher asking prices, but large service centres and stockists told Platts Steel Business Briefing that these have not been fully achieved yet.

 

World seaborne coking coal demand to exceed 360m t/y by 2015 - 12 March 2012

Global demand for seaborne coking coal will rise by more than a third to over 363.5 million tonnes by 2015 compared to 2011, said Hans-Joachim Welsch, ceo of German pig iron producer Rogesa. World-wide seaborne coking coal demand in 2010 was 278mt, slipping to 265mt last year, he added, based on figures from banking group Credit Suisse.

 

Australia may not meet renewable energy targets - 12 March 2012

As government’s manage the transition to greener economies, a balance has to be struck between encouraging investment in renewable energy and ensuring the economic, as well as the environmental, sustainibility of domestic industries. Considering the significant lobbying from all sides, it is hardly suprising that the implementation of carbon pricing mechanisms is rarely smooth. To learn more about how the steel industry will be affected by developments globally, see SBB’s third annual Green Steel Strategies conference in Berlin on 19-20 April.

 

CIS billet's tentative recovery on pause as buying halts - 9 March 2012

The tentative recovery of billet prices which started to take shape at the end of last month has come to a halt; buyers withdrew from the market after seeing CIS billet prices gain $20/tonne last week. Today, enquiries are less and bids even sparser, a trader tells Steel Business Briefing, with the majority saying that, whilst one can still find buyers at $600/t fob Black Sea, there is no business for traders in such deals.

 

European mills increase rebar prices by €15-20/t - 8 March 2012

Northwest European rebar mills have announced new increases of €20/tonne since the beginning of this week, pushing offers to €590/t DDP for March delivery on costlier scrap, Steel Business Briefing learns from market participants. However, few transactions have been concluded at the new asking prices.

 

ArcelorMittal uses indices to price car contracts - 7 March 2012

The shift to shorter pricing periods for iron ore contracts means ArcelorMittal has begun using independent price indices to price its steel contracts, says Jean-Martin Van der Hoeven, chief marketing officer with ArcelorMittal Flat Carbon Europe. “It is not with pleasure,” but ArcelorMittal has also been forced to adopt shorter contracts with its automotive customers in Europe, he adds.

 

Brazil set to perform strict quality tests on Asian steel - 6 March 2012

The Brazilian government intends to impose strict port inspection and quality control measures on steel imports from Asia, particularly products that originate from China, Steel Business Briefing learns.

 

China’s CRC prices start to rise on more export interest - 5 March 2012

China’s cold reduced coil and sheet export volumes dipped for the second month in a row in January as a result of scarce bookings made from end-October through November. Exporters say overseas demand for CRC has remained subdued but inquiries have recently increased in tandem with rising export prices.

 

Market sentiment improves, some prices turn upwards - 2 March 2012

Although global market sentiment is now improving, last week’s trading volumes were still low in China and many other parts of East Asia, and declined in North America. Internationally, scrap and iron ore prices have picked up and this, together with a resolution (for now) of the Greek debt issue, has helped reduce uncertainty and is assisting producers in raising prices in many regions. This upward trend is expected to become more widespread, outside of North America, in the coming weeks.

 

Eurofer expects EC to ‘stick to the rules’ on climate change - 2 March 2012

With international climate change negotiations still making slow progress, regions are taking their own steps to tackle the issue. Steelmakers’ associations, concerned by the added cost to their members, have fought a rearguard action against stricter emissions regulations. Both European Commission’s DG Climate Action and Eurofer have argued firmly about what measures are and are not legitimate. But what is clear is that the steel industry will have to adapt to a more regulated and greener economy. To learn how the industry can adapt to, and even profit from, increased regulation, come to SBB’s third annual Green Steel Strategies conference in berlin on 19-20 April.

 

CIS billet holds at $605/t, sentiment is mixed - 1 March 2012

More market participants have confirmed to Steel Business Briefing that there have bought billet from the Black Sea at $605-610/tonne. Sources admit the tonnages are not large and the sales are largely fired up by Turkish buying interest at around $630/t cfr, since scrap has increased by approximately $20/t since two weeks ago to $450/t cfr Turkey.

 

China’s HRC exports rebound, prices rise further - 29 February 2012

China’s exports of hot rolled coil and sheet rebounded by 28% month-on-month in January after falling for three consecutive months. Chinese exporters expect the HRC export volumes to continue growing in the coming months following improved orders in December-January for February-April shipment.

 

Sub-$700 HRC in the offing for US market, sources say - 28 February 2012

The recent trend of sagging US sheet pricing continues, as market sources say most spot hotrolled deals have inched closer to $700/short ton and below for bigger buys.

 

Brazilian flats export prices climb on positive sentiment - 27 February 2012

 

CIS bar/rod export prices rebound, more increases coming - 24 February 2012

Export prices of wire rod and rebar from Ukraine and Belorussia have rebounded after a January dip, although the recovery is slower than has been expected. Prices have strengthened on the back of strong Turkish demand and a moderate restocking elsewhere, and there are more price increases to come, market sources tell Steel Business Briefing.

 

HDG prices move up slightly in EU, mill targets not achieved - 23 February 2012

The price for hot-dip galvanised in Europe has moved up by €20/tonne in the last two weeks, following the trend seen in other coils products, Steel Business Briefing learns from market participants. Mills have announced their target price for Q2 rolling, but it hasn’t been reached yet.

 

World output edged higher in January - 22 February 2012

World production of crude steel recorded a slight upturn in January over December, reaching 116.7m tonnes, but remained almost 8% below output in January 2011. The industry’s capacity-utilisation rate edged higher to 71.3% last month.

 

European uncoated coils rise over 1%; US sheet weaker - TSI - 21 February 2012

The latest reference prices released by The Steel Index (TSI) show that its northern and southern European HR and CR coil reference prices have increased again over the last week, rising by 1.3-1.7%. US coil and plate prices were weaker and have fallen regularly since their mid-January highs. European rebar prices have fallen, though plate prices continued to firm.

 

Trades in SE Asian billet import market thin, prices flat - 20 February 2012

Importers of billet in Southeast Asia, in general, continue to stay away from the market a they believe prices will remain soft, sources tell Steel Business Briefing.

 

Ferrochrome prices to be flat until 2013, then strengthening - 17 February 2012

Based on a 4% annual increase in stainless steel production, global demand for ferrochrome (FeCr) will hit 11m tonnes in 2015. But the market will remain oversupplied for the next four years, keeping FeCr prices flat until 2013, after which they should strengthen as the demand-supply gap begins to close, according to Laura Smith, an analyst with South Africa’s Core Consultants.

 

Global oversupply will keep SiMn prices low in 2012, analyst - 16 February 2012

The global silico-manganese (SiMn) market is set to remain over supplied in 2012, despite record levels of consumption. This will keep prices low, according to Denny Sabah, an analyst at London-based trading firm Ronly.

 

EU carbon compensation may meet 60% of steelmakers’ need - 16 February 2012

EAF steelmaking produces significant;y less carbon dioxide directly than integrated steelmaking. however, EAFs are far more vulnerable to increasing energy prices. EU compensation is necessary to maintain the competetiveness of the industry. For more information on how steelmakers, rollers and distributors can ensure their businesses are economically, as well as environmentally, sustainable, come to Steel Business Briefing’s third annual Green Steel Strategies conference in Berlin on 19-20 April.

 

Turkey's Tosyali in talks to acquire stake in MMK Metalurji - 16 February 2012

Turkish steelmaker Tosyali is in talks over a stake of between 49-51% in local flat-rolled steelmaking rival MMK Metalurji, sources connected with the Iskenderun steel market tell Steel Business Briefing.

 

Brazilian pig iron prices stable on low Asian demand - 15 February 2012

Pig iron prices in the northern Brazilian state of Pará are stable at US$480-485/tonne, but producers expect higher prices and greater demand in coming months, Steel Business Briefing learns from iron making group Sindiferpa.

 

Imports threatening US OCTG pricing - 14 February 2012

A surge of OCTG imports from emerging markets in 2011 could be threatening domestic pricing, market sources tell Steel Business Briefing.

 

BlueScope quick to access government finance - 14 February 2012

Alongside tough regulations to reduce greenhouse gas emissions, incentives are being made available to steelmakers to enable them to invest in more energy efficient, sustainable technologies. For information on how steel can transform itself into a more sustainable and environmentally friendly industry, see Steel Business Briefing‘s third annual Green Steel Strategies conference in Berlin on 19-20 April.

 

Market divided over Baosteel price increase - 13 February 2012

Baosteel has lifted most flats prices by RMB 100-200/tonne for March, it announced Friday (10 February). Market sources believe other leading mills, such as Anshan Iron & Steel, Wuhan Iron & Steel, and Shougang will follow suit.

 

Global sentiment weak, but slow pick-up still seems possible - 10 February 2012

Last week’s global market sentiment was weak, particularly in scrap, billet and most finished longs. Turkish scrap import prices fell $12/tonne to $437/t cfr according to The Steel Index (TSI).

 

Turkish mills book US, Baltic and UK scrap - 9 February 2012

Turkish steelmakers continue to book deep-sea scrap from US, Baltic and UK sources, and market participants expect the strong return to procurement to last until the end of the week, Steel Business Briefing hears.

 

Emissions trading should cost steelmakers less than expected - 9 February 2012

The changing state of the European carbon markets has led analysts to regularly alter their price forecasts for phase two of the Emissions trading System (2012-2020). New forecasts suggest the cost of carbon trading to Europe's steel industry could be some €8bn less than Eurofer's first estimates. To see how environmental regulations will affect your business and how you can make your company competetive in a greener economy, come to Steel Business Briefing's third annual Green Steel Strategies Conference in Berlin on 19-20 April.

 

Xstrata, Glencore agree terms for $90bn merger - 8 February 2012

Mining group Xstrata and commodities trader Glencore have agreed terms for a merger that will create a natural resources group with a market value of $90bn, they said on Tuesday. If successful, the combined group will have what they called a "unique business model, fully integrated along the commodities value chain, from mining and processing, storage, freight and logistics, to marketing and sales."

 

Iron ore reference prices increase on higher trades - 7 February 2012

Iron ore reference prices ticked up again yesterday with trades concluded at higher levels, Steel Business Briefing notes.

 

US scrap drops sharply; Turkish import prices also fall: TSI - 6 February 2012

The latest scrap reference prices released by The Steel Index (TSI) last Friday show that the weekly price for US domestic scrap dropped sharply from a week earlier. Turkish import scrap reference price also decreased, but Indian import pricing was stable.

 

CIS billet exports liven up as traders get booking - 3 February 2012

After a week of very low activity in the CIS billet export market, deals are being concluded at prices in the lower range of recent offers - equivalent to $560-565/t fob Black Sea, Steel Business Briefing learns from the market sources. A 30,000t mixed Ukrainian and Russian origin consignment of March lad-readiness have changed hands at $585/t cfr Turkey, yesterday, sources say.

 

HRC import prices rising in SE Asia, albeit slowly - 2 February 2012

Chinese mill offers of 3mm thick commercial quality SS400B hot rolled coil to Southeast Asia are at $620-630/tonne fob ($640-660/t cfr) this week, but there are no takers yet, Chinese trading sources tell Steel Business Briefing.

 

TSI's 62% iron ore January monthly average rises almost 3% - 1 February 2012

The price for 62% Fe iron ore fines moved in a very narrow range in January. This continued the relative stability seen since early December, though at slightly higher levels. The daily iron ore reference prices released by The Steel Index (TSI) yesterday show the end of January price for 62% Fe iron ore as 2.8% higher than at the end of December.

 

Northern Chinese billet prices wobble as market reopens - 31 January 2012

There were some small fluctuations in billet prices in China’s northern regions on Monday, the first business day after the end of the Chinese New Year holidays.

 

ThyssenKrupp-Outokumpu agree stainless merger - 31 January 2012

ThyssenKrupp has reached agreement in principle to combine its stainless steel business, Inoxum, with Finland’s Outokumpu. The German group will take a stake of 29.9% in the new company, in a transaction valued at Eur 2.7bn

 

CIS billet availability will increase if Iran can't buy - 30 January 2012

The availability of billet out of the Black Sea from CIS producers may increase considerably in the next several weeks, as Iran’s ability to trade is curbed further by the lack of foreign currency reserves and intensifying sanctions, market sources tell Steel Business Briefing.

 

WorldAutoSteel pushes for ‘life cycle’ emissions approach - 30 January 2012

As climate change becomes an increasingly pressing political issue, how we measure success in reducing emissions becomes ever more important. Life Cycle Assessment (LCA) is more comprehensive than many other forms of assessment and has the support of steelmakers. How the steel industry can best respond to the challanges of climate change and how regulation will change the global industry will be central themes of the third annual SBB Green Steel Strategies conference.

 

Plate buyers press for lower prices in Singapore - 27 January 2012

Market activity for imported shipbuilding plate in Singapore has stayed lacklustre this month with offer prices from China last quoted at $685/tonne cfr. Bookings last month took place at $670/t cfr, trading sources report.

 

NW European coils rise, but mill offers not achieved yet - 26 January 2012

Transaction prices for new hot rolled coil in northwestern Europe are continuing to increase, Steel Business Briefing learns from market participants, but producers have yet to fully achieve the latest asking prices.

 

Kobe Steel to build 4th wire rod processing plant in China - 25 January 2012

Japan's Kobe Steel has begun constructing a fourth wire processing plant in China this month to meet growing demand for automotive springs. Its subsidiary Kobelco Spring Wire (Foshan) Co (KSW) plans to start operating the plant, which will be able to process some 600 tonnes/month of wire rod into springs, in the first half of 2013.

 

Administrators appointed at UK's Thamesteel - 25 January 2012

The UK bar and billet plant Thamesteel, controlled by the Saudi-based Al Tuwairqi group, is set to enter officially into administration on Thursday as a result of financial difficulties, Steel Business Briefing learns from sources within the company.

 

Buyers, prices 'pause' in uncertain US sheet market - 24 January 2012

Uncertainty surrounding scrap prices, furnace restarts at RG Steel and ArcelorMittal and an overall market malaise have stalled the run-up in US sheet prices.

 

Turkish mills avoid bulk scrap bookings on longs weakness - 23 January 2012

Turkish mills showed little interest in scrap bookings last week as activity and prices in the regional longs market continued to weaken, although news of lower, Europe-origin offers surfaced Friday to give pricing direction, participants tell Steel Business Briefing.

 

Chinese HRC export prices rise on increased buying interest - 20 January 2012

Chinese hot rolled coil producers have raised their export offer prices in tandem with improved order bookings while transaction prices have also moved up towards new offers. Export offer prices of SS400 boron-added HRC presently average $625-630/tonne fob, up $10/t from early January. Transaction prices for March-delivered material are believed to be around $615-620/t fob, up also about $10/t from early this month.

 

CIS billet prices slips $15/t down in less than a week - 19 January 2012

The CIS commercial grade billet bid prices have slipped to the levels of $580-585/tonne fob Black Sea with offers now ranging $595-615/t fob Black Sea, market sources tell Steel Business Briefing. "The market is drifting downwards: real demand is around $585/t fob Black Sea – there could be a lot of business at this level today," a major international trader says.

 

Demand muted in largest Turkish MENA rebar export markets - 18 January 2012

Turkey’s largest seaborne Middle East and North Africa rebar export markets, UAE and Egypt, are unlikely to contribute heavily to fresh bookings in the coming weeks owing to lack of demand, market participants tell Steel Business Briefing.

 

Major trader close to investing in UK’s Thamesteel - 18 January 2012

A major international commodities trading firm is close to concluding a deal to invest in Thamesteel, the UK-based mini-mill controlled by the Saudi-based Al Tuwairqi group, Steel Business Briefing learns from sources at the mill.

 

ArcelorMittal seeks higher prices for strip in Europe - 18 January 2012

ArcelorMittal is seeking a €50/tonne price increase for strip products in Q1 – with an increase of €30/tonne for March deliveries over February, taking hot rolled coil to some €550/t ($705/t) – and has advised customers that it may seek further increases in the second quarter of this year to cover rising costs.

 

HRC import market continues to drift in SE Asia - 17 January 2012

The arrival of large volumes of imported hot rolled coil cargoes previously booked at lows of $620-640/tonne cfr late last year is adding more pressure to the market in Vietnam. The imposition of tight financing and credit measures continues to constrict steel demand in the country too. “It may take another two quarters before the market improves here,” a trader in Vietnam tells Steel Business Briefing.

 

Scrap import prices inch up in quiet East Asian market - 13 January 2012

The uptrend in scrap import prices continues in East Asia in tandem with a rising international scrap market. However, the approaching holidays associated with the Lunar New Year, plus uncertainty on whether sluggish finished steel prices can support higher scrap prices, continue to dampen buying interest.

 

Iron ore prices under pressure despite supply-side issues - 13 January 2012

Iron ore prices came under pressure again on Thursday amid slow activity, despite further supply side disruption as Vale declared force majeure on shipments after heavy rains in southeast Brazil. The mining giant said around 2 million tonnes of material will be lost as a result, Steel Business Briefing heard. Australian iron ore shipments remained suspended after a cyclone passed over Port Hedland and the Pilbara region.

 

S.Europe rebar mills close export deals at higher levels - 12 January 2012

Some southern European rebar mills have already managed to pass their new asking prices, closing deals in the last couple of days at €525-530/t ($667-673/t) FOB to Algeria for February delivery, Steel Business Briefing learns from market sources.

 

Japan's JFE eyes furthers increases in HRC export prices - 11 January 2012

Following its recent increase in export offers of hot rolled coil, Japan’s JFE Steel is eyeing an additional $50/tonne hike for shipments starting late-February. This is designed to ensure a steady recovery to profitability, a company spokesman tells Steel Business Briefing.

 

US scrap surcharge up $30 for 2nd consecutive month - 10 January 2012

The benchmark shredded scrap price used to set key surcharges on most US long products and plate rose $30/long ton for the second consecutive month, moving the benchmark to an 11-month high.

 

EU producers target Feb drawing wire rod settlement hikes - 9 January 2012

Prices for drawing quality wire rod are expected to rise in Europe for February settlements, as producers try to pass on scrap increases and clients need to restock, Steel Business Briefing learns from market participants.

 

Mexican government eliminates import tariffs on steel - 6 January 2012

Following much deliberation, the Mexican government has announced the abolishment of import tariffs affecting 230 industrial factions, with the steel sector being one the most affected, SBB learns from the secretary of economy and national steel chamber Canacero.

 

EU mills keep firm coil offers as the market slowly restarts - 5 January 2012

Major northwest European steel mills are keeping base offer prices for hot rolled coil above €500/tonne ($646/t) ex-works, where quotations are available, while the market remains slow this week as participants return from holiday.

 

China okays two big new projects - 4 January 2012

<p>This year China’s national development and reform commission (NDRC) intends to speed up the launch of construction at Baosteel’s Zhanjiang steelworks project and at the Fangchenggang project of Wuhan Iron & Steel (Wugang).</p>

 

Indian IO exporters still under pressure in slow spot market - 21 December 2011

The spot market for iron ore imports into China remained depressed for most of last week but a flurry of trades on Monday, chiefly involving Brazilian and Australian cargoes, has helped arrest the decline in prices for now.

 

Italian coil producers hike offers by €15-30/t - 20 December 2011

Italian coils producers and large re-rollers have announced increases of €15-30/t for their base prices over the past week, Steel Business Briefing learns from market participants.

 

CIS billet targets $600/t on firm scrap and restocking - 19 December 2011

Traders were buying CIS-origin billet at the end of last week at prices up to $595/tonne fob Black Sea, an indication that they will be selling for at least $600/t fob Black Sea, market sources tell Steel Business Briefing. "The stocks are still low, so those who haven't bought at the bottom are hungry now, and will try to buy before prices go up any more," a source says.

 

Korean billet export prices seen climbing higher - 16 December 2011

Korean steelmakers have strengthened billet export prices recently on higher scrap costs. Billet offer prices from mills, including Hyundai Steel, are around $630-635/tonne (€484-487/t) fob with deals also heard in this range. This compares with transacted prices of $620/t fob or $645/t cfr Philippines last week.

 

CIS longs export prices stabilise, exporters are bullish - 15 December 2011

Prices of wire rod and rebar from Ukraine, Belorussia and Russia are seen as stabilising on the back of the rallying Turkish scrap and the need for restocking in traditional markets, market sources tell Steel Business Briefing.

 

Indian iron ore export prices resume downtrend - 14 December 2011

Spot prices for iron ore imported into China are again trending downwards, falling by about $3-4/tonne over the past week, after an $8-10/t rebound the week before. Lacklustre Chinese demand and increased availability of competitively-priced Brazilian and Australian material are depressing spot prices, especially for high-grade ores.


 

Russian coil exporters see prices bottoming - 12 December 2011

Russian hot and cold rolled coil exporters believe prices have bottomed, citing renewed buying interest and other fundamentals as positives. US longs, scrap and flats price increases and stable spot iron ore costs are all indicators coil prices are ready to rebound, they say.

 

Northwest European HRC mills almost sold out for January - 9 December 2011

The Steel Index’s reference price for northern European hot rolled coil was €480/tonne ($639/t) ex-mill yesterday, a level it has been stable at since Friday 2 December. This stabilisation reflects what most sources surveyed by Steel Business Briefing regard as the bottom of the northwest European market.

 

CTL plate arriving in US priced above domestic - 8 December 2011

Cut-to-length plate imports, booked in the summer, that have been arriving in the US throughout November and into December, are priced higher than current domestic US pricing.

 

Duferdofin-Nucor hikes section prices €40/tonne - 7 December 2011

Italian steelmaker Duferdofin-Nucor is increasing base prices for all its products from 12 December, a company representative tells Steel Business Briefing.

 

S.Europe white goods contracts agreed below H1 2011 levels - 6 December 2011

Almost 60% of white goods producers in southern Europe have closed their contracts while the rest are still negotiating but very close to signing them, market sources tell Steel Business Briefing.

 

ArcelorMittal Luxembourg mills to remain idled until 2013 - 6 December 2011

ArcelorMittal has informed workers at its long products plants in Rodange and Schifflange, Luxembourg, that the two works will remain idled throughout 2012 due to market conditions, Steel Business Briefing learns from sources at the plants.

 

Chinese plate producers trim December list prices - 5 December 2011

Key Chinese plate producers have further cut their list prices for December from November as the domestic plate market continues to languish. Traders predict a further slide in spot prices of most types of plate given the lower delivery prices and sparse buying activity.

 

Brazil's pig iron producers operating at 30-40% of capacity - 2 December 2011

Brazilian pig iron producers in the southeast state of Minas Gerais, which together account for 60% of national merchant production, are feeling the effects of the global economic downturn and are now operating at 30-40% of capacity, Steel Business Briefing learns from domestic producers.

 

Tata Steel mothballs Llanwern hot strip mill - 2 December 2011

Tata Steel is mothballing its hot strip mill at its Llanwern site in Newport, South Wales, because of the weak market, the company tells Steel Business Briefing.

 

Steel traders braced for difficult 2012 - 1 December 2011

This year has been a tough one for physical steel traders, as evidenced by reports of restructuring at Cargill Ferrous International and Swiss-based Carbofer. Other large traders are also rumoured to have had a difficult 2011, primarily down to the weakening market in the second half of the year, Steel Business Briefing understands.

 

Borrowing costs weigh on flat steel distribution: Assofermet - 30 November 2011

The lack of liquidity in the market and rising borrowing costs is weighing on the distribution chain, in a period in which demand is poor due to weak fundamentals, Michele Ciocca, President of Assofermet’s distribution arm, tells Steel Business Briefing.

 

Cargill Ferrous Intl closing two physical trading desks - 30 November 2011

Cargill Ferrous International is closing its physical trading desks in Geneva and Hong Kong, sources close to the company tell Steel Business Briefing.

 

Ternium takes 43% of Usiminas in pact with Nippon Steel - 29 November 2011

Ternium, the steelmaking arm of Italian-Argentinian conglomerate Techint, has agreed terms for the purchase of shareholdings held by Votorantim and Camargo Correa, plus the employees' pension fund (CEU) in Usiminas, the largest steel producer in Brazil, according to a company statement obtained by Steel Business Briefing.

 

Demand for rebar, wire rod imports weak in SE Asia - 28 November 2011

Demand for rebar and wire rod remains sluggish in Southeast Asia. Concerns over the slowing global economy continue to depress market sentiment. An estimated 40,000 tonnes of Turkish theoretical-weight rebar was booked at around $645/t cfr Singapore last week. "The recent buying was for stock replenishment," a trader says. Korean rebar was heard booked at $650/t cfr.

 

More European mills hike sections prices, stockists dubious - 25 November 2011

ArcelorMittal is following Salzgitter’s lead and increasing its sections prices by €30/tonne effective January, and smaller producers are reportedly also increasing prices. Sections prices have remained at around €600-625/t ($801-834/t) delivered for category one in recent weeks.

 

CIS billet export prices 'yet to reach bottom' - 24 November 2011

Despite what mills are saying about sold out tonnages, few market sources look with any degree of optimism into the next quarter. "Germany's failure to sell their bonds – when they are usually flying off the shelves – has weakened the euro momentarily. We see little changing in the near future in terms of available liquidity," one major trader says.

 

Iran buoys up sales for Russian coil exporters - 23 November 2011

Russian hot and cold rolled coils exporters appear to be active in selling their December and, in some cases, January tonnages, with prices varying widely. "Iran appears to have been the biggest buyer – the market would look very different without it," a sales executive of MMK told Steel Business Briefing.

 

Italian exports to EU rise by a quarter, compete on price - 23 November 2011

Italian steel production has increased by 11.5% year to date, fuelling concerns that Italian mills are not cutting production sufficiently in the current economic climate, analysts said commenting on Italian production data.

 

Spanish rebar falls again, rises seen in December - 22 November 2011

Rebar prices in Spain have fallen again over the last two weeks, as scrap levels have decreased and demand remains muted, Steel Business Briefing learns from market sources.

 

Sluggish demand leaves H-beam import prices lower in SE Asia - 21 November 2011

Prices of H-beams from East Asian mills have fallen by $20-30/tonne in Southeast Asia in tandem with weaker market sentiment.

 

Coil prices in Russia steady: decline looms in December - 18 November 2011

Domestic prices for traded hot rolled, cold reduced and hot-dip galvanised coils/sheets from major Russian integrated producers were unchanged in November, but may well soften in December, Steel Business Briefing hears from several stockists.

 

LatAm leaders told to take action against Chinese 'invasion' - 17 November 2011

Governments in Latin America need to go "beyond typical economic remedies" to tackle the threat of imports – particularly from China – says the new president of regional steel association Alacero (formerly Ilafa), Raul Gutierrez.

 

China's 12th five-year steel industry development plan published - 17 November 2011

On November 7, China’s Ministry of Industry and Information Technology publically released its comprehensive development plan for the steel industry, covering the twelfth five-year plan period 2011 – 2015. The plan consists of six sections addressing production, consolidation, environmental and new technology, downstream industries and policy and industry reform.

 

Trader Balli Steel sues ArcelorMittal USA over coal deal - 16 November 2011

London headquartered commodity trader Balli Steel has filed a lawsuit against ArcelorMittal USA over coal supply, Steel Business Briefing learns from court documents

 

Peiner Traeger seeks higher section prices from January - 16 November 2011

German producer Peiner Traeger has announced plans to increase European sections prices by €30/tonne.

 

Brazil's Gerdau says N. American volumes still strong - 15 November 2011

Brazilian steel giant Gerdau continues to perform strongly in North America with orders from the automotive and energy sectors offsetting soft demand from the construction industry, <b>Steel Business Briefing</b> learns from president and ceo André Gerdau Johannpeter.

 

Chinese tubes continue to roll into Brazil at record rate - 14 November 2011

Chinese-produced tubes comprised more than 50% of all tube simports into Brazil in the January-October period, Steel Business Briefing calculates from data compiled by foreign trade ministry MDIC data.

 

Most prices falling; producers see bottom, others uncertain - 11 November 2011

The prices of most finished steel products, particularly strip, continued to fall last week. Producers were claiming they were at a bottom. In addition, they were talking about more output cuts, but at the same time hoping that others will cut first, that the market would move into balance., and they would thus not have to stop any further blast furnaces.

 

Scrap not yet at bottom in Europe, traders say - 10 November 2011

The scrap market has not yet bottomed in Europe, Russia and Turkey, as merchants are still making a profit at current price levels, scrap merchants tell Steel Business Briefing. Mills facing softening end-user demand are likely to put further downward pressure on scrap prices, market sources add.

 

Greek steel producers downplay risk of eurozone exit - 3 November 2011

If Greece leaves the euro-zone, its local steel industry would regain competitiveness in export markets, Steel Business Briefing hears from local sources. However, local sources remain convinced this is unlikely.

 

CIS billet dips a little more, most mills are not offering - 2 November 2011

Ukrainian mills' export offers of billet currently stand at $580/tonne fob Black Sea, whilst Russian and Byelorussian steelworks are currently not in the market. The offers have generally slipped a little more this week, by about $5/t, with traders claiming sales have taken place at $570/t fob Black Sea.

 

Latest press release from our sister company – TSI: October sets new record for iron ore swap volumes, as spot prices collapse - 2 November 2011

The volume of iron ore swap contracts cleared in October surged to another all-time high, smashing the previous record set in August. Over 9 million tonnes of swaps and options with a nominal value of around US$1.4 billion were cleared during October, with The Steel Index (TSI) 62% Fe iron ore fines reference price used for settlement.

 

S. European distributors continue destocking - 1 November 2011

Southern European distributors have been destocking since the end of summer, Steel Business Briefing learns from local sources. The target is to get inventories down to as low as 40 days of sales by mid-December, before beginning to buy what is necessary to meet demand in the first quarter.

 

Exec: US volatility 'cries out' for futures, hedging tools - 31 October 2011

Futures contracts and hedging tools can be effectively used by small and midsize service centers to lessen their exposure to the pricing volatility that has defined global steel markets in recent years, Worthington Inc ceo John McConnell said.

 

Scrap import prices continue to nosedive in East Asia - 28 October 2011

The slide in scrap import prices as well as concerns over liquidity are affecting East Asian scrap buying. Tokyo Steel’s continuous lowering of its purchase scrap prices is causing nervousness in the market. Korean purchase price for H2 grade scrap is now at ¥27,500/t ($362/t) fob based on Tokyo Steel’s latest prices.

 

Currency fluctuations, shaky markets impede scrap trade - 27 October 2011

Fewer operational mills in Europe and expected price falls for prime grades in the US in November are testament of the economic uncertainty gripping mature economies, a situation that is discouraging importers in Asian markets from buying scrap, Bureau of International Recycling Ferrous Board members said.

 

Special Report: Riva cutting quarter of output in Q4 - 27 October 2011

Italy’s largest steel producer Riva is cutting 25% of its output during the last quarter of this year, vice president Fabio Riva tells Steel Business Briefing in an exclusive interview.

 

Northern European coil prices still weak, CRC may go lower - 26 October 2011

Northern European coil prices remain under pressure with buyers existing hand-to-mouth and traders liquidating positions to downsize their exposure, market sources tell Steel Business Briefing

 

Seaborne iron ore sees largest fall since September 2008 - 26 October 2011

<b>Steel Business Briefing</b>'s sister publication <i>Platts</i> 62% Fe iron ore assessment cfr North China plummeted by $10/dmt on Tuesday to reach $128.50/dmt. This price is the lowest seen since 22 July 2010, the largest daily fall in three years, and marks the twelfth working day in a row of decline.

 

Brazil's Ceará state seeking to attract new rolling mills - 25 October 2011

Officials in Ceará are committed to attracting rolling mills to northeastern Brazil and have signed a deal with a Spanish company, as construction work continues on the massive Companhia Siderúrgica do Pecém (CSP) slab plant.

 

SE Asian HRC import prices continue slide, buyers hold off - 24 October 2011

Offer prices for hot rolled coil continue to tumble in Southeast Asia, particularly in Vietnam. Chinese offers for 3-12mm thick SS400B HRC to Vietnam are now heard at $640-650/tonne cfr, down from $665-675/t a week ago

 

Evraz switches to London to heighten investment profile - 18 October 2011

Evraz Group S.A., the Luxembourg-based parent company of Russian miner and steelmaker Evraz, has informed its shareholders that it plans to relocate its domicile to the UK, and list its shares on the London stock exchange under the name Evraz Plc.

 

Anshan's November price cuts tipped to be severe - 17 October 2011

Anshan Iron & Steel (Angang) is likely to cut most of its prices when announcing its November list today amidst the softening market. Industry pundits treated to a preview of the north China mill’s pricing strategy last week say hot rolled coil prices were to be clipped by RMB 200-300/tonne ($31-47/t), cold rolled coil by RMB 350/t and plate by RMB 100-200/t.

 

Indian HDG export offer prices drop on weaker currency - 14 October 2011

Indian export offer prices for hot-dip galvanized coils have declined by $30-40/tonne. A weak rupee saw exporters dropping offers in an attempt to stoke buying interest in sluggish overseas markets. Nevertheless transactions remain few, with exporters complaining of weak demand from foreign customers.

 

Ukraine's Metinvest drops Ilyich HRC price to $610/t fob - 14 October 2011

The Ukrainian miner and steel producer Metinvest has fixed its November rolling hot rolled coils export offer price at $610/tonne fob Black Sea. This is $10-20/t lower than levels indicated earlier this week.

 

Low-priced billet offers weaken market mood in SE Asia - 13 October 2011

Low-priced offers of billet position cargoes are dampening market sentiment in Southeast Asia. Some 20,000 tonnes of 120mm or 130mm square Black Sea billet for December shipment was offered this week at $645/tonne cfr Thailand. “The market is being shaken by this offer,” a Thai trader tells Steel Business Briefing.

 

ArcelorMittal closes hot end at Liège - 13 October 2011

Terminating a 200-year history of iron and steelmaking in eastern Belgium, ArcelorMittal is today expected to announce the definitive closure of its Liège works’ hot end – coke ovens, sinter plant, two blast furnaces, oxygen steel shop and slab casters - reducing slab capacity by about 3m tonnes/year.

 

SBB Special Report: CISA finally publishes iron ore index - 12 October 2011

The China Iron & Steel Association (CISA) has finally published its China Iron Ore Price Index (CIOPI) – the index it hopes Chinese mills and foreign iron ore suppliers will use in price negotiations. But questions remain.

 

DiMicco wary of global overcapacity, slow growth in 2012 - 11 October 2011

Nucor CEO Dan DiMicco sees a few bright spots on the global steel industry's near-term horizon, but the head of the largest steelmaker in the US remains "pessimistic" regarding prospects that 2012 will be a better year than this one.

 

Spanish rebar prices stable on weak euro - 10 October 2011

Rebar prices in Spain are stable at the moment, despite the latest scrap downturn and sustained pressure from weak domestic demand, Steel Business Briefing learns from local sources.

 

Italian CRC under pressure, mills fighting to keep prices up - 7 October 2011

Italian cold rolled producers are under pressure due to the lack of demand and the higher prices of the raw materials due to the strong dollar, Steel Business Briefing learns from market participants.

 

SBB Special Report: AK Steel makes coal, iron ore moves - 6 October 2011

In response to rising raw material costs, US sheet producer AK Steel will integrate upstream with two raw material acquisitions – metallurgical coal and a joint venture with an iron ore company, Steel Business Briefing understands.

 

Singapore rebar importers pause on currency weakness - 5 October 2011

Singapore rebar importers are hesitating to make any new import bookings because of the near 9% gain in the US dollar’s value month-on-month. “The currency factor has rendered imports uncompetitive,” a trader tells Steel Business Briefing

 

'Challenging times upon the horizon' for US sheet market - 4 October 2011

Buyer paralysis continues to plague the US sheet market, sources say, as stockists and distributors delay purchases amid uncertainty regarding the direction of future pricing and the overall economy.

 

Turkish alloy steel imports increased 46% in July - 3 October 2011

Turkey imported 74,835 tonnes of alloy flat steel in July 2011, a 46% increase on the 51,290t imported in July 2010, Steel Business Briefing learns from data released by the Turkish Statistical Institute (TUIK).

 

NW European coil market under pressure, mills cut output - 30 September 2011

Traders are selling positions at cheap prices and buyers are trying to force discounts from mills looking to secure orders. As a result the northwest European coil market is in desperate need of direction, sources tell Steel Business Briefing.

 

ArcelorMittal idles a section mill in Spain - 29 September 2011

In addition to idling some flat product operations in Spain, ArcelorMittal is to temporarily idle its Madrid plant which produces sections during the fourth quarter of this year, Steel Business Briefing learns from the company.

 

US HRC swap prices track physical market lower - 29 September 2011

Hot rolled coil swap prices in the US have come off around $50/short ton in the last week as buyers have beaten back price hikes in the physical market, traders and brokers tell Steel Business Briefing.



 

HRC prices dip on weakening confidence in China - 19 September 2011

Confidence in the Chinese domestic hot rolled coil market has been eroded as end-user demand shows no sign of recovery. The negative outlook for October has also spread after Wuhan Iron & Steel decreased its HRC list prices for delivery next month.

 

Dongkuk eyes buying UK slab from next year - 31 August 2011

Dongkuk Steel Mill says it is willing to sign a long-term contract to buy slab from Teesside Cast Products (TCP) in the UK when it restarts. “We have expressed our intention to buy 500,000 tonnes/year of slab from TCP,” Kim Chul-hwan, managing director of Dongkuk’s raw material division, told shareholders Monday when tabling its Q2 earnings. “We expect purchasing TCP slab will be possible from next year.”

 

US sheet prices rising, but vary by mill - 22 August 2011

US spot sheet prices appear to be rising in the wake of recent mill hikes and talk that a second round of increases could be coming, <b>Steel Business Briefing</b> learns.

 

N.W.European coil mills may struggle to achieve Q4 increases - 15 August 2011

The import threat has dissipated in the northwest European coil market, but local mills may still struggle to implement price increases heading into the fourth quarter, sources in the Benelux region and Germany tell <b>Steel Business Briefing</b>.

 

Asian steel unfazed by global jitters - 10 August 2011

Fears of a possible global economic slowdown have yet to be felt in east Asia's physical steel markets. While buyers and users of steel are adopting a wait-and-see approach, a collapse seems unlikely because raw material prices such as scrap are still firm and steel demand region-wide has not changed, regional trading sources say.

 

Analyst: New US sheet capacity yet to impact market - 3 August 2011

Longtime industry analyst Charles Bradford says additional US sheet capacity hasn't yet had much impact beyond "garden variety commodity grades," and he doesn't expect ThyssenKrupp's new domestic mill to be a major auto player for some time.

 

East Asian scrap import market continues to be firm - 1 August 2011

Four bulk cargoes of US scrap (80% shredded and 20% HMS 1&2) were heard booked at a composite price of $490/tonne cfr China during the week ending 22 July, trading sources tell <b>Steel Business Briefing</b>.

 

Featured Article - Indian HRC import market retreats on Chinese price rise - 21 July 2011

The market for hot rolled coil imports into India, which had begun to gather momentum over the past ten days, is now seeing buyers again shunning higher-priced offers, especially from China.

 

Featured Article - Trading among EU stockists now much more prevalent - 21 July 2011

The buying and selling of steel between stockholders is much more commonplace today than a few years ago, mainly because of cash flow considerations, Steel Business Briefing hears from market participants, mostly in Germany.

 

Platts to Acquire Steel Business Briefing Group - 29 June 2011

LONDON and NEW YORK, June 29, 2011 – The McGraw-Hill Companies, Inc. (NYSE: MHP), today announced that Platts, a division of McGraw-Hill and a leading global provider of energy, petrochemicals and metals information, has signed an agreement to acquire the Steel Business Briefing Group (the SBB Group), a privately held U.K. company and leading provider of news, pricing and analytics to the global steel market.

 

Featured Article - China seen unlikely to cut export tax rebates in July - 22 June 2011

China is unlikely to cut its VAT rebates on boron-added steel exports because no conclusion has been reached on whether it is necessary for Beijing to implement tougher export policies, an industry source with knowledge of the issue says. He adds that boron-added materials are no longer a target of the discussions.

 

Press Release - Steel price set to drop - 18 January 2011

Although steel prices are still rising, they are expected to peak shortly. Scrap prices in Europe and Turkey seem to have peaked after a rapid climb since November.

 

Global steel output falls but more cuts needed, says analyst - 23 September 2010

Crude steel production in August was 113m tonnes in the 66 countries reporting to the World Steel Association. This resulted in a third consecutive month in which world steel output fell with a decline of 2m t or 1.7% from July. Despite this, year-to-date output remained 20% above year-before levels.

 

Thailand's Sahaviriya agrees to buy UK slab plant - 27 August 2010

Corus has signed a memorandum of understanding to sell its Teesside Cast Products (TCP) plant in the UK to Thai steel producer Sahaviriya Steel Industries. The proposed acquisition, valued at around $500m (£322m), will give SSI ownership of the plant which can produce 3.5m tonnes/year of slab.

 

Heightening steel prices could be short lived - 26 August 2010

A significant boost in global steel prices is projected for September and October. Many in the industry feel the market will strengthen significantly in the coming weeks. They point to steady demand in India and China, pick up in German/EU economic growth, and the expectation of higher demand in the Middle East after the religious holidays.

 

Tinplate mills fear shortage as prices hit two year high - 9 August 2010

Friday 6 August saw the London Metal Exchange report a two year high of $20,795- 20,800/tonne (cash) for the price of tin, its highest price since 12 May 2008. However the cost increase is unlikely to affect tinplate producers.

 

BHP Billiton, Vale, ArcelorMittal, Credit Suisse and others converge in London to talk raw materials - 6 July 2010

We are delighted to announce that the inaugural SBB World Steel Raw Materials Conference is taking place on 30 September – 1 October 2010 in London.

 

Chinese steel supplies will remain competitive despite VAT rebate cut - 24 June 2010

China’s Ministry of Finance has announced that the VAT tax rebates on exports of more than 50 finished steel products will be removed from 15 July. Steel Business Briefing believes that for European buyers, Chinese supplies will remain very competitive; some traders and producers may also look for ways to circumvent the increases in costs

 

Chinese steel capacity expansions continue, despite government ban - 18 June 2010

Chinese steel producers are ignoring government rules banning capacity expansions, according to the latest research from SBB Research and Consulting. If this trend continues, and local demand does not pick up strongly, then Chinese exports could return to the very high levels previously seen in 2007

 

Excess crude production leads to weakening steel prices - 10 June 2010

Weak steel prices, which continue to tumble in most parts of the world are fundamentally reflective of crude steel production being in excess of its current demand, and global capacity being in excess of production. This has prompted European and North American mills to idle some existing furnaces and to delay re-openings.

 

Strip prices stay firm, though scrap softens - 22 April 2010

Coil and plate prices remained firm last week, though the prices for rebar – used widely in construction - in some parts of the world softened.

 

Steel market needs much greater transparency for price hikes to be accepted, says SBB - 14 April 2010

Cost increases which have hit the steel producers in recent months are set to continue their strong hold on the market in the coming months. With both the big three iron ore miners and steel producers continuing to refuse to divulge full details of the cost hikes, the mills were finding it relatively easy to persist in raising their offer prices for finished products.

 

Dramatic cost increases set to squeeze steel producers and steel users - 8 April 2010

Iron ore news dominated the steel markets over the last week. Two of the three large mining companies - Vale from Brazil, and Australia’s BHPBilliton - announced dramatically higher iron ore prices and introduced new quarterly iron ore contracts.

 

Raw material prices still soaring, leaving buyers and traders dizzy - 25 March 2010

The steel market is facing massive changes and the significant rise of raw material prices in 2010 is reminding people of the sudden dive of steel prices in 2008. Traders and buyers describe the price rises as “crazy,” as in many places, demand remains soft and they fear an imminent collapse.

 

Steel in an upward bind: billet prices move up almost 10% from early March Impact on construction - 12 March 2010

The price of billet, used in many types of steel for construction and new infrastructure developments is increasing rapidly, according to a number of recent reports from Steel Business Briefing. As a result some construction and infrastructure contracts may be renegotiated.

 

Steel Production to Cease at Corus’ Teesside Steel Plant - 16 February 2010

It has been announced today that the Corus Teesside steel plant, a major producer and exporter of semi-finished steel will stop producing steel from Friday 19 February 2010.

 

The Future: Environmental Sustainability in the Global Steel Industry - 8 February 2010

We are delighted to announce that the SBB is holding a conference on Environmental Sustainability in the Global Steel Industry on May 20-21 2010 in Washington DC.

 

New Year, New Projects and yet more Overcapacity - 13 January 2010

The opening of Hyundai’s new 4m t/y blast furnace in Dangjin, South Korea is said to be already unsettling other producers in the North Asian region. Producers like Korea’s Posco and Japan’s Tokyo Steel will definitely be observing developments at the new site.

 

 
 

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