Posted: September 5th, 2012 | Author: Rod Sherkin | Filed under: China, Iron ore, Steel | Tags: china, iron, steel | No Comments »
China steel futures fell to an all-time low on Wednesday as poor demand in the world’s top steel market kept the pressure on prices, sending iron ore further below $90 a tonne to its weakest since October 2009.
The most-traded rebar for January delivery on the Shanghai Futures Exchange fell to as low as 3,218 yuan ($510) a tonne, its weakest level since the bourse launched rebar futures in 2009.
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Posted: August 21st, 2012 | Author: Pascal Blanc | Filed under: China, Commodities, Metals, Steel | Tags: china, steel | No Comments »
Chinese steel production may contract in 2012 for the first time in 33 years.
Major Chinese steelmakers will again lower their prices in September, the third consecutive monthly decline. According to a fact sheet published mid-August, Baosteel, the largest Chinese steelmaker, will reduce the prices of its products from 80 to 180 yuan, or 10 to 23 dollars.
Overall decline since August 1st reached 12.5%.
“The steel market may stabilize in the next two months, but demand remains weak, prices are not ready to rebound,” said Essence Securities analyst. Especially since there is little chance that the central government will inject more money into major construction projects in the second semester.
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Posted: August 1st, 2012 | Author: Rod Sherkin | Filed under: Steel | Tags: steel | No Comments »
The US flat products market was described as “steady but slow” in July. The lack of orders kept delivery lead times very short. In an attempt to halt the downward price spiral, leading mills announced hikes of $US40 per short ton on all strip mill products.
Customers were reluctant to commit to the new numbers before they had time to assess the situation. Planned maintenance breaks in the second half of 2012 should help the supply/demand balance.
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Posted: July 11th, 2012 | Author: Rod Sherkin | Filed under: China, Steel | Tags: china, steel | No Comments »
Despite the current weakness in Chinese finished steel prices, MEPS is forecasting a strong recovery in selling values later in the year. The rising figures should be sustained going into 2013.
Reduced steel output during the summer is expected to help the market digest currently high mill inventories. This should enable an autumn recovery in steel consumption to translate directly into a sharp upturn in steel prices.
via MEPS Predicts an autumn steel price upturn in China.
Posted: July 6th, 2012 | Author: Rod Sherkin | Filed under: Metals, Steel | Tags: steel | No Comments »
US hot rolled coil transaction figures slipped further in June, as was expected. There is still domestic overcapacity, despite the demise of RG Steel. Delivery lead times have shrunk and local mills are facing severe competition from attractively priced Russian coil now standing at the docks. Buyers are expecting a further decrease for the summer.
Hot rolled plate transaction figures declined again in June for a number of reasons.
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Posted: June 22nd, 2012 | Author: Rod Sherkin | Filed under: China, Metals, Steel | Tags: china, Metals, steel | No Comments »
Steel prices are under pressure from weak market demand, and the price cuts also show steel companies are trying to deal with bumper inventories since the beginning of this year, said Liu Yuanrui, an analyst at Changjiang Securities Co.
Baosteel Group Corp., Wuhan Iron & Steel Co. Ltd. and Anshan Iron & Steel Group Corp., China’s steel giants, have lowered ex-factory steel prices for July by 130-300 yuan per ton.
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Posted: June 11th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Metals, Steel | Tags: steel | No Comments »
The growth rate of steel production worldwide reached again 6.2% last year versus to 2010, the highest rate seen since a global statistic of this kind can be calculated.
This year, the apparent steel consumption in China is expected to increase about 4% and India 6.9% rising to a double-digit growth in 2013.
Meanwhile, the European steel consumption is forecasted to fall another 1.2% up 3.3% in 2013, worldsteel suggesting a small recovery in apparent steel demand from the end of 2012 and 2013 in Europe.
The world steel production has almost tripled since 1970. The world was producing less than 200 million tons in the year 1950.
Posted: May 15th, 2012 | Author: Rod Sherkin | Filed under: Iron ore, Steel | Tags: iron ore, steel | No Comments »
Shanghai rebar fell to its lowest level in more than five months on Tuesday, stretching its losses into a third straight session, amid thin Chinese demand that could prompt producers in the world’s biggest steel market to curb output.
The most briskly traded rebar contract for October delivery on the Shanghai Futures Exchange touched a session low of 4,055 yuan ($640) a tonne, last seen on Nov. 30, before closing at 4,090 yuan, down 1.1 percent.
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Posted: March 13th, 2012 | Author: Brian Berry | Filed under: Greening the Supply Chain, Iron ore, Steel | Tags: environment, iron ore, labor, steel | No Comments »
Three U.S. companies that are leaders in their fields–Nucor in steel, Cargill in agriculture, and ThyssenKrupp Waupaca in iron castings–are three of the leading U.S. purchasers of Brazilian pig iron. What are these American leaders doing to ensure that the supply chains of their Brazilian pig suppliers–particularly the camps of men who chop or chain-saw down eucalyptus trees and smolder them for eight days to make the charcoal feedstock for pig–are upholding Brazil’s environmental and labor laws?
As one surveys the Brazilian scene for companies that are recalcitrant in meeting their responsibilities to uphold environmental and labor laws in the supply chain, Brazilian pig producer Cosipar sticks out like a sore thumb. Cosipar has been expelled from Brazil’s National Pact for the Eradication of Slave Labor; it is not a member of the Instituto Carvão Cidadão (Citizens Charcoal Institute), the other Brazilian organization that ensures that its members are observing labor laws throughout their entire supply chain.
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Posted: February 9th, 2012 | Author: Rod Sherkin | Filed under: Steel | Tags: steel | No Comments »
MEPS predicts that its World Composite Steel Price will rise by approximately 11.5 percent by mid 2012. The most significant gains are anticipated in the flat products segment as prices rally after the substantial reductions in the second half of last year.
The steel price revival was led by the changing market situation in North America as scrap prices surged at the end of 2011. The prospect of higher raw material costs also pushed up steel selling values recently in Asia and Europe.
via STEEL INDUSTRY NEWS FROM MEPS INTERNATIONAL LTD.