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.
Read the rest of US steel sheet prices rising, questions looming about first quarter » » »
Posted: October 21st, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Iron ore, Metals, Steel, Transportation | Tags: baltic dry index, coal, iron ore, shipping, shipping rate, steel | No Comments »
In spite of the delivery of new bulk carriers ordered during the shipping golden age, dry shippers bulk freight rates are rising due to Chinese iron ore purchases. The shipowners are back on the bulk carriers spot market to meet the increase in Chinese steel production, the highest in three years, which is driving the biggest jump in shipping rates since 2009.
This increase in steel output has reduced the iron ore stock which fell to its lowest level since 2007. The number of Capesize vessels in service, the largest bulk carriers, increased by 51% in September to 124 from August according to a study by Morgan Stanley. More than 90% were intended for China.
Read the rest of Baltic dry index stable around 2,000 » » »
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.
Read the rest of MEPS steel forecast to 2017 » » »
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.
Read the rest of China: Steel prices toward a bull market » » »
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.
Read the rest of MEPS Forecasts Steel Price Upturn in 2014 » » »
Posted: July 23rd, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Iron ore, Metals, Steel | Tags: iron ore, iron ore china, iron ore giant, iron ore miner, iron ore price, iron ore production | 1 Comment »
Iron ore giants are digging more for less to tighten their stranglehold on the world’s second-biggest commodity market, as competitors struggle. By doing so, they appear to defy logic, with demand for the steel-making raw material cooling in top customer China and a price-eroding supply glut looming.
While the looming end to US central bank stimulus sent precious and base metals prices plummeting last week, the iron ore price is primarily driven by events in China. Analysts believe that the companies are ramping up production, despite fears of a supply glut, to build economies of scale into their operations that will keep costs low and squeeze smaller competitors margins.
Read the rest of Iron ore giants “race to the bottom” despite fear of supply glut » » »
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.
Read the rest of Steel prices may fall after recent bump up » » »
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.
Read the rest of MEPS Global Composite Steel Index Prices Drops to 38-Month Low » » »
Posted: May 17th, 2013 | Author: Rod Sherkin | Filed under: China, Steel | Tags: iron ore, iron ore china, iron ore price, iron ore stock, rebar, rebar price | No Comments »
Steel reinforcement-bar futures headed for a weekly loss as the price of iron ore, the main ingredient in steelmaking, fell to the lowest in five months. Rebar for delivery in October on the Shanghai Futures Exchange fell as much as 0.6 percent to 3,529 ($575) a metric ton and was at 3,531 at 10:15 a.m. local time.
Futures have declined 3 percent this week, the most since the week ended April 19.
Ore with 62 percent iron content at the port of Tianjin fell 1.1 percent to $125 a dry ton yesterday, according to The Steel Index Ltd. “The view that iron ore prices will continue to decline is becoming more convincing, which leads to expectations for lower steel-products prices in the second half of 2013,” Zhang Lei, analyst at Nanhua Futures Co., said by phone from Shenyang today.
Read the rest of Rebar Set for Weekly Decline as Iron Ore Falls to Five-Month Low » » »
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.
Read the rest of Surging Chinese Steel Exports Put Pressure on World Prices » » »