Posted: October 23rd, 2013 | Author: Rod Sherkin | Filed under: Steel, USA | Tags: steel, steel coil, steel price, steel price USA | No Comments »
Platts upped its hot-rolled coil assessment Tuesday from $645-655/st to $655-665/st and concurrently moved cold-rolled from $750-760/st to $760-770/st. All prices are normalized to a Midwest (Indiana) ex-works basis.
Mill discipline appears to be pushing flat-rolled steel pricing up in the US, though at least some market sources said Tuesday they fear that a late-year run-up could invite a glut of imports in the first quarter.
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Posted: October 16th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Metals, Steel | Tags: meps, steel consumption, Steel forecast, steel price, steel production | No Comments »
MEPS just published its steel forecast reports to 2017. One report is available for each region of the world (European Union, North America and Asia) and the last one is a world average. MEPS expects a recovery in global steel price over the next three years.
With 2013 being the low point in the steel cycle and despite a number of difficulties to overcome, consumption should begin to pick up in 2014 as the economic climate improves.
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Posted: September 5th, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Metals, Stainless Steel, Steel | Tags: china steel, stainless steel, steel, steel index, steel inventory, steel output, steel price, steel production | No Comments »
Steel reinforcement-bar or rebar advanced 10 percent to 3,735 yuan on the Shanghai Futures Exchange since reaching this year’s low on June 14 and may extend the rally to 20 percent by the end of 2013, meeting the common definition of a bull market according to a Bloomberg News survey of analysts.
In August this year, the purchasing managers’ index (PMI) of China’s steel sector increased to 53.4 percent, up 0.9 percentage points month on month, as announced by the China Steel Logistics Committee which is part of the China Federation of Logistics and Purchasing.
Also, the new order index for China’s steel sector stood at 57.9 percent, up 0.6 percentage points compared to previous month. Meanwhile, the export order index was stable month on month.
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Posted: August 29th, 2013 | Author: Rod Sherkin | Filed under: Commodities, Metals, Steel | Tags: steel, steel index, steel inventory, steel market, steel price, steel supply | No Comments »
The annual average Global All Products Composite steel price is predicted to increase approximately 4 percent in 2014, compared with the equivalent figure in 2013. This steel price rise would bring to an end two years of consecutive declines.
Selling figures in the North American strip mill market, which have been under negative pressure all year, have moved up due to a combination of tight availability and low steel inventories. Chinese prices have escalated, driven by high iron ore costs and an improvement in sentiment.
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Posted: July 5th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: steel, steel price, steel supply, steel usa | No Comments »
Steel prices in the U.S. are rising and not necessarily because the market is improving. This week, the price of benchmark hot-rolled steel coil, used to make cars, was reported up at $630 per ton, a rise of more than 10% from a 2013 low of $570 on May 28.
That reverses a six-month slide in U.S. steel prices caused by too much steel on the market, both in the U.S. and globally.
A trio of unforeseen events have unexpectedly helped boost prices 10% in recent weeks to their highest levels since early January. A blast furnace outage in Ohio, along with one in Brazil, and a work lockout in Ontario have taken an estimated five million tons of annual capacity, or about 4% of total U.S. supply, off the market in the last three months.
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Posted: June 5th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: meps, steel, steel output, steel price, steel production, steel supply | No Comments »
Steel prices across the globe continued trending downwards in May. Selling figures declined in twenty four of the twenty eight nations in which MEPS conducts research. In the remaining four countries, transaction values were stable.
Excess steel supply and poor demand are expected to continue to exert negative pressure on prices in the short term. Moreover, input expenditure is likely to remain at a low level in the immediate future.
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Posted: May 16th, 2013 | Author: Rod Sherkin | Filed under: China, Steel | Tags: china steel, steel, steel glut, steel output, steel price, steel production | No Comments »
A surge in Chinese steel production and a flood of exports are pressuring world-wide steel prices despite Beijing’s efforts to rein in the steel industry, in the latest example of the global impact of China‘s massive industrial overcapacity.
Global steel prices have fallen 3.5% since February to an average of $710 a ton, according to MEPS steel consultancy. While China hasn’t been shipping much more directly to the U.S., much of its material is destined for the world’s largest economy via trans-shipments through Japan, South Korea, Singapore or Malaysia.
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Posted: May 10th, 2013 | Author: Rod Sherkin | Filed under: China, Steel | Tags: china, china steel, china steel price, steel price | No Comments »
Baosteel, the nation’s largest listed steelmaker has cut the prices of its main steel products by about three percent for the first time in the nine months, Shanghai Securities News reported.
According to the factory policy for June bookings issued by Baosteel on Thursday, hot rolled steel plate is down 180 yuan ($29) per ton, while the price of cold rolled steel plate is down 150 yuan per ton, and the prices of most mid-thick products have been decreased by 200 yuan per ton. The price of mid-thick boat deck, however, stays the same.
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Posted: April 29th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: steel, steel glut, steel price, steel supply | No Comments »
Steel prices have slumped this month, setting off a scramble among steelmakers to maintain prices and market share despite a nationwide glut.
In a bid to maintain market share in the lukewarm economy, steel mills have been increasingly offering 5% to 8% discounts on index-linked contracts since the financial crisis. “Everybody’s been undercutting in the market because there’s way too much steel,” says Charles Bradford, an analyst with Bradford Research Inc. They’re also offering price rebates and waiving some extra fees on higher-grade products, according to buyers and traders.
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Posted: April 12th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Metals, Steel | Tags: apparent steel use, steel, steel consumption, steel production, worldsteel | No Comments »
In its Short Range Outlook published yesterday, the Worldsteel association estimates that steel consumption will rebound to 1.5 billion tonnes in 2014 but European demand will not exceed 144 million tonnes, representing less than 10% of global demand.
After an increase of only 1.2% in 2012, world steel consumption is expected to rebound by 2.9% in 2013 to 1,454 million tonnes (Mt), indicate the short-term outlook published by the Worldsteel association. 2012 was a difficult year for the steel industry, with apparent steel use increasing at the slowest rate since 2009 when demand declined by -6.5%, said Hans Jürgen Kerkhoff, President of the Economic Committee of the organization. The decline was mainly due to the eurozone where apparent steel use decreased by 9.3% to 140 Mt in 2012.
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