This  week, the Indonesian Anti-dumping Committee began an investigation into hot rolled coil imports from China, India, Russia, Belarus, Kazakhstan, Taiwan, and Thailand. This is in response to the domestic producer PT Krakatau Steel’s application. Targeted HS Codes for the classified goods are 7208.10.00, 7208.25.00, 7208.26.00, 7208.27.11, 7208.27.19, 7208.27.91, 7208.27.99, 7208.36.00, 7208.37.00, 7208.38.00, 7208.39.10, 7208.39.90, 7208.90.10, 7208.90.20, and 7208.90.90. 2008 saw the committee issue its first positive final determination; following the first sunset review in 2013, the committee added Belarus and Russia to the list of countries subject to anti-dumping levies. The AD obligations were once more extended in 2019,...

Due to weak regional demand, regional mills’ target offer prices continue to be out of reach for consumers. On February 2, a 10,000-tonne cargo of 130mm 5sp blast furnace billet of ASEAN origins was allegedly booked at about $600/t cfr Manila. According to import sources, the customer reserved the cargo for stock replenishment. The consignment of billets is probably from Indonesia. The shipment is a trader’s position cargo because greater bids from the same Indonesian mill, at $620/t fob for 3sp billet and for April shipment, are now available. For 150mm 3sp billet, it is now accepting offers at $640/t cfr...

The GCC’s regular buyers of Indian mills aren’t getting rates from them. The cost of HRC has dropped by $10–$15 per tonne this week compared to last. A Chinese tier-one mill completed a re-rolling grade (SAE 1006) HRCdeal on January 29 for 15,000 tonnes at about $712–715/t cfr Dammam, for end-March shipment. A few days later, on February 2, an Indian tier-one mill finalized a deal for 2mm SAE 1006 grade HRC at a cost-plus-freight price of $740-750 for shipment in March. In the meantime, the Chinese tier-two mill reached an agreement on a mid-April supply of SS400 grade at 1.8-6.5mm...

Due to weak regional demand, regional mills’ target offer prices continue to be out of reach for consumers. On February 2, a 10,000-tonne cargo of 130mm 5sp blast furnace billet of ASEAN origins was allegedly booked at about $600/t cfr Manila. According to import sources, the customer reserved the cargo for stock replenishment. The consignment of billets is probably from Indonesia. The shipment is a trader’s position cargo because greater bids from the same Indonesian mill, at $620/t fob for 3sp billet and for April shipment, are now available. For 150mm 3sp billet, it is now accepting offers at $640/t...

The King Salman Energy Park (SPARK) in northern Saudi Arabia is the site of the groundbreaking for SeAH Gulf Special Steel Industries (SeAH GSI), a joint venture between the Saudi Arabian Industrial Investments Company (Dussur) and the Korean steel maker SeAH CSS. Spark says in an official statement seen by Kallanish that the new facility will cost an estimated SAR 900 million ($240 million), span nearly 178,000 square meters, and have the capacity to produce 17 to 20,000 tonnes of seamless stainless pipes and tubes annually when it is fully operational in 2025. The stainless seamless pipe will be used...

Direct reduced iron-route long steel producers signed two standard billet contracts with a trading firm last week with the intention of selling the product to North Africa. The contracts for the 30,000 tonnes each in March and April shipments were reached by integrated mills in Qatar and Bahrain on a fob basis for $590 per tonne and $585 per t, respectively. For March ready, GCC electric arc furnace mills are aiming at and above $610/t fob this week. “While Indonesian mills are aiming for $620/t fob, Chinese buyers are bidding around $600/t cfr China for billet. The GCC region offers...

Available prices for Italian S275JR plate are €850-900/t EXW, compared to €850-870/t EXW a week ago, for deliveries in March-April. Sufficient demand and high slab prices have enabled producers to increase their offers. However, only small and medium lots are being sold. “Big buyers are skeptical of prices above €850/t EXW.” On the import side, Indonesian plate is quoted at €820/t cfr for April shipments from Italy.

According to regional governor Nurlan Urankhaev, the corporation would be given the permission to develop the Aidarly copper deposit in the Abay region. In a meeting in Yekaterinburg, Russia, in July of last year, RCC President Vsevolod Levin and Prime Minister of Kazakhstan Alikhan Smailov discussed the proposal. In addition to plans for the development of projects at the Koksay field in the Zhetysu region and Aidarly in the Abay region, Levin discussed the production operations of its in the Aktobe region. Smailov believes that the growth of the Koksay and Aidarly fields is crucial for Kazakhstan. About 85,000 tonnes...

The hike is supported by strong domestic demand in India and restocking by traders in advance of the publication of the Indian budget, with predictions of more price increases in February. As Europe is currently the highest-paying market, the majority of Indian mills want to export HRC into Europe for March shipment and book good income for this fiscal year, ending 31 March 2023 (FY23). However, some sources believe that prices will stabilize soon because this increase is “sentiment-driven, not demand-driven.” At a cost of $780 per tonne cfr, a tier-1 Indian mill last week supplied 10,000 tonnes and 3,000...

On Monday, the 62% Fe index decreased $0.02/t to $126.98/dry metric tonne cfr. The 58% Fe index increased $0.02/t to $110.64/dmt cfr, and the 65% Fe index was $0.1/t higher at $141.4/dmt cfr. The price of May iron ore on the Dalian Commodity Exchange increased by CNY 21/t ($3.11/t), while the price of February 62% Fe futures on the Singapore Exchange increased by $1.7/t to reach $128.76/t. The identical contract for futures on 65% and 58% Fe gained $2.45/t to close at $143.9/t and $1.03/t to close at $110.07/t, respectively. On Monday, billet prices increased while scrap prices remained unchanged....