The Brazilian Steel Dealers Association (INDA) recently stated that based on expectations of increased domestic supply and the continued arrival of large amounts of low-priced imported resources at the port, local plate prices may continue to be under pressure in the future. On the supply side, the renovation of the No. 3 blast furnace at the Ipatinga steel plant owned by local plate producer Usiminas is scheduled to be completed at the beginning of this month. Its output accounts for about 70% of the manufacturer’s total output. Once the renovation is complete, Usiminas’ productivity is expected to increase by at...

Vale Indonesia, the Indonesian subsidiary of Brazilian miner Vale, has reported lower earnings in the third quarter due to lower average realised nickel prices,Kallanish learns.The company achieved earnings of $52.6 million in the third quarter, representing a decrease compared to the $70.4 million achieved in the second quarter. Q3 revenue also declined to $278.9m, from $295.8m in the previous quarter, after a 6% drop in prices to average $16,204/tonne.This was despite a 6% increase in production to 17,953 t from 16,922 in the previous quarter, underpinned by the implementation of an effective maintenance strategy coupled with “exceptional” operational performance.   In...

On October 27, Vietnam’s hot coil import assessment price was 550-560 US dollars/ton (CFR), which continued to remain stable on a week-on-week basis (mainly referring to 2-3mm re-rolled SAE1006 hot coil and similar products). According to Vietnamese market news, the mainstream export quotation of China’s SAE1006 hot coils to Vietnam last week was 565-570 US dollars/ton (CFR). Last week, there were also several batches of Chinese spot SAE1006 hot coils exported to Vietnam, with an export quotation of 550 US dollars/ton (CFR); last week The mainstream export quotations of China’s SS400 hot coil and Q195 hot coil to Vietnam are...

The International Monetary Fund (IMF) has released its latest world economic forecast report. The report believes that the global economy is stumbling forward, lacking momentum and showing a certain degree of resilience. However, the economic trends of various countries are increasingly divergent. According to its latest forecast, global economic growth will slow down from 3.5% in 2022 to 3% this year and 2.9% in 2024. The forecast value for 2024 has been lowered by 0.1 percentage points compared with the July forecast value, which is far lower than the historical growth rate. Average. Among them, the IMF’s GDP growth forecasts...

1.Singapore rebar import prices continue to remain stable On October 23, Singapore’s rebar import price was assessed at US$535-540/ton (CFR), which remained unchanged on a week-on-week basis. According to Singapore market news, the mainstream export quotation of Chinese rebar to Singapore at the beginning of this week was 540-545 US dollars/ton (CFR). The current freight rate from China to Singapore is about 15 US dollars/ton; at the beginning of this week, a mainstream Malaysian steel mill sent rebar to Singapore. It stands to reason that the heavy export quotation is 540-545 US dollars/ton (CFR), including the truck freight from the...

October 17 import valuation of $570-595 / ton (CFR), down from $570-605 / ton (CFR) on October 10; Saudi Hot Volume (1.2mm) of $620-630 / ton (CFR), unchanged from October 10. According to the Middle East market, early this week, the mainstream export price is $570-583 / ton (CFR), 570-580 / ton (CFR), early January, 595-600 / ton (CFR), lower than that of last week, $585 / ton (CFR), and 595 / ton (CFR). At the beginning of the week, China 1.2mm hot volume to Saudi Arabia mainstream export price of $620-630 / ton (CFR). In the recent week has...

September 5 UAE Hot coil import appraisal $575-610 / ton (CFR), slightly lower than last week’s $575-615 / ton (CFR); September 5 Saudi Hot coil (1.2mm) import appraisal $620-640 / ton (CFR), unchanged week on week. According to the Middle East market, at the beginning of this week China hot to the UAE mainstream exports $575-585 / ton (CFR), down from last week’s $575-600 / ton (CFR); at the beginning of the week Japanese mainstream hot exports to the UAE $610-620 / ton (CFR). At the beginning of the week, there was not heard of a significant number of imported...

The country increased its on-year semis and finished steel production over four months by 8.2% and 5.3%, respectively. Meanwhile, its exports of semis and finished steel combined soared 24.5% on-year to 3.84 million tonnes,according to an Iranian Steel Producers Association (ISPA) report on its online Chilan portal. Four-month finished long products use surged 3.6% on-year to 3.6mt, with rebar and bar-in-coil consumption ticking up 2.2% to 2.86mt and beams rising 21.9% to 473,000t. Flats use was up 6.8% on-year to 3.42mt. Hot rolled coil consumption slightly increased by 1.7% to 3.18mt; cold rolled coil was up 11.9% to 965,000t. Use of coated...

On August 2, the factory price index of Nordic hot coil was 647.92 euros ($706.2) / ton, down 8.33 euros / ton week on week. According to the European market news, the recent week of the European hot coil market continues to light, due to the current in the traditional summer demand season, most buyers are more inclined to purchase in September, recently some European mainstream steel mills have not released the hot coil factory price. In Germany, this week, a major steel mill offered 660 euros per ton for September hot rolls. In southern Europe, the factory price index...

On August 1, the UAE hot volume import valuation was $610-640 / ton (CFR), up from the previous week of $590-640 / ton (CFR). According to the UAE market, the mainstream export price of Chinese hot volume to the UAE was $610-620 / ton (CFR), up from the $590-620 / ton (CFR) last week; at the beginning of the week, the mainstream export price to the UAE was $640-650 / ton (CFR). August 1 Saudi Hot coil (1.2mm) import valuation of $630-650 / ton (CFR), up $10 / ton week on week. Recently, a Saudi buyer purchased a batch of...