News – Runfei Steel Group | Steel Processing & Global Distribution Since 1998

21Jul Steel News

The Essential Guide to Cold Rolled Grain Oriented Steel Coils: Properties, Applications and Benefits

Cold Rolled Grain Oriented (CRGO) steel coil represents a specialized electrical steel product engineered for exceptional magnetic properties in specific directions. Manufactured through a precise cold rolling process followed by critical annealing, this material develops a distinct grain structure that aligns parallel to the rolling direction. The production process begins with carefully selected steel slabs that undergo hot rolling, followed by cold reduction to achieve the desired thickness. What sets CRGO apart is the subsequent annealing in a controlled atmosphere that promotes grain growth orientation. This meticulous manufacturing approach results in steel with superior magnetic characteristics when magnetized along the rolling...

17Jul Steel News

Posco Sells Majority Stake in Chinese Stainless Steel Plant.

The largest steel manufacturer in South Korea, Posco Group, recently sold the majority of its stake in Zhangjiagang Pohang Stainless Steel Company (ZPSS), a Chinese company. Posco’s larger strategy to concentrate on more lucrative and rapidly expanding markets includes this action. For about KRW 400 billion (roughly US$291 million), Posco sold its 82.5% stake in ZPSS to Tsingshan Holding Group of China. The Chinese company Jiangsu Shagang Group still owns 17.5% of the plant. Posco’s first fully integrated stainless steel facility outside of South Korea was the ZPSS factory. It was one of Posco’s major overseas plants, capable of producing...

15Jul Steel News

China announced favorable policies for photovoltaic industry, PV stock market rose sharply

The Chinese Ministry of Industry and Information Technology has issued a statement to control production capacity. Polycrystalline silicon prices have rebounded. Photovoltaic panel companies initiate cost declaration mechanism. On July 3rd, the Chinese Ministry of Industry and Information Technology held the 15th Manufacturing Enterprise Symposium, pointing out the follow-up policy direction for the current overcapacity and low price competition in the photovoltaic industry1. The meeting emphasized controlling excess production capacity, regulating low price competition, and improving industry order. According to Dongfang Wealth Software, after the policy news was announced, the photovoltaic sector rose comprehensively in the A-share market on July...

11Jul Steel News

Tangshan steel companies limit blast furnace production, black steel futures fluctuate and strengthen

Recently, Tangshan regional steel companies have successively received notices of production restrictions on sintering machines and blast furnaces, and relevant companies have stated that they will strictly implement the production restriction policy in July. Driven by the production restriction policy, market sentiment has been boosted again, pushing black futures from falling to rising. Yesterday, U.S. Treasury Secretary Benson said that he expects to meet with China in the next few weeks, and the scope of consultation and cooperation between the two sides will not be limited to the trade field. The U.S. side has released positive signals on the issue...

10Jul Steel News

Steel sector PMI in Hebei falls to 47.7 percent in June 2025.

This years, the PMI of the steel sector in China’s Hebei province announced a decrease to 4.0 % points months on month by the Hebei province Metallurgical Industry Association ( MIA). In June, the trend of the PMI for the steel sector industry in Hebei province was the same as the whole of China. The decrease by 0.5 % to 45, 9%, as announced by China Steel Logistics Committee (CSLC). In this months, the production index increased by 2.5 % points to 45, 5% is indicated a contraction in production . On the other hand, the new export order index...

08Jul Steel News

Iron Ore Futures Slip as Tangshan Tightens Emissions Controls and Trade Risks Intensify.

Iron-ore futures began the trading week lower, weighed down by renewed concerns about demand after China’s principal steelmaking center, Tangshan, introduced fresh pollution-control measures that will limit short-term production and, by extension, appetite for imported raw material. The announcement reinforces a broader pattern of policy-driven volatility that has characterized the ferrous complex throughout the first half of 2025 so far.The most-active September contract on the Dalian Commodity Exchange closed 0.68% down at 731 yuan (approximately USD 102) per ton, while the front-month August swap on the Singapore Exchange slipped 0.37% to USD 95.50 at 07:45 GMT.Municipal instructions in Tangshan required...

04Jul Steel News

China’s Masteel expects increased net loss for 2024

China’s steel sector faced a tumultuous 2024, with Ma’anshan Iron and Steel Company (Masteel) emerging as a prime example of the industry’s struggles. The Anhui-based steelmaker projected a net loss of RMB 4.597 billion ($0.64 billion) for 2024—a devastating year-on-year increase of RMB 3.27 billion ($0.46 billion). In 2024, influenced by the imbalance between supply and demand. The steel prices were at a low level and the raw materials cost. The weakening consumption, particularly in construction, Chinese blast furnace utilization remained high (averaging 239.31 tons/day in mid-2024), creating a supply glut. Consequently, steel prices plummeted while raw material costs stayed...

02Jul Steel News

China’s Stainless Steel Exports Show Impressive Growth in 2025

As of the first five months of 2025, China’s stainless steel exports have posted a strong performance despite some market turbulence. According to official data from Chinese customs, exports rose by 10.36% year-on-year, reaching 2.1101 million metric tons (mt). However, imports of stainless steel declined notably by 26.74%, totaling 718,000 mt during the same period. In May 2025 alone, China exported 436,300 mt of stainless steel and imported 125,100 mt. Compared to the previous month, these figures represent declines of 2.56% and 11.99%, respectively. On a year-over-year basis, May exports dropped 4.66%, while imports fell even more sharply by 28.28%....

09Oct Steel News

rod

GCC HRC Buyers Minimise Restocking Amid China Uncertainty

Gulf Cooperation Council hot rolled coil buyers have decided to minimise their mandatory restocking due to price fluctuations in China. Non-Chinese HRC suppliers have meanwhile informed customers they will announce their new prices next week once the market settles and there is clarity. Chinese manufacturers and traders resumed work on Tuesday after a long holiday. Between morning and business close, Chinese prices saw sharp fluctuations. In the morning, offers were at $580-590/tonne for 3mm base grade S235JR/SS400 and at $600-615/t for 2mm SAE 1006 grade. Last week, two re-rollers concluded separate deals with the same Japanese major. A25,000-tonne enquiry translated into a...

26Sep Steel News

The Asian Sheet Metal Market Has Raised Prices, And The Price Difference Between Hot And Cold Is Basically The Same

During the week ending September 24th, due to the Chinese government’s announcement of a series of economic stimulus measures, prices for cold-rolled coils in Asia have significantly increased. SS400 HRC has increased by $7 per ton, reaching $456 per ton FOB China on September 24th. The price of Southeast Asian coil at the same level has increased by $13, with a CFR of $470 per ton. The export quotation was raised to $459 per ton offshore price in Jingtang earlier. The quotes for Q235 and Q195 in Vietnam have risen to the CFR level of around $475 per ton, an increase of...

22Aug Steel News

Chinese Board Export Prices Boost Market Bottom Adjustment

Currently, there is a trend of price recovery in China’s export market. Today, SAE006 hot coil was quoted by a Chinese steel mill at $505/ton CFR, $478/ton CFR, and another steel mill at $490/ton FOB, which has increased by about $20-30/ton compared to last week. In addition, the quotation of Chinese steel mills for SS400/Q235 and Q195 3mm basic hot-rolled coils remains at $445-455/ton FOB, unchanged from Monday. It is heard that a large steel mill in North China sold a batch of SS400/Q235 and Q195 3mm thick base hot coils at FOB China price of $455/ton on Tuesday. ...

20Aug Steel News

The UK Government Will Provide £ 13.5 Million in Support For Workers And Businesses Affected By The Closure Of Tata Steel’s Port Talbot Steel Plant

Previously, due to long-term losses in the UK steel business, Tata Steel UK announced that it will close Port Talbot’s Blast Furnace 5 by the end of June 2024 and Blast Furnace 4 by the end of September. In addition, it is planned to invest £ 1.25 billion in the green transformation of steel to build an electric arc furnace with an annual production capacity of 3.2 million tons per year, replacing the two blast furnaces located in Talbot Port to produce steel, and will be put into operation in 2027. Due to the potential loss of 3000 jobs caused...

08Aug Steel News

Poor Transactions in The Chinese Sheet Metal Export Market Due To Price Decline

The price of flat materials in China has continued to decline over the past week. According to feedback from market traders, due to extreme high temperatures, the number of transactions in the market has decreased, resulting in limited demand. Prices are expected to bottom out this week. The price of sheet metal in East China is 3465-3515 yuan/ton (equivalent to 486-493 US dollars), which has decreased from 3485-3560 yuan/ton on July 26, marking the seventh consecutive week of price decline. In terms of exports, the quoted price for Chinese hot coil exports to the UAE is $530-540/ton CFR UAE, a...

06Aug Steel News

Türkiye’s Rebar Price Remains Stable, And The Demand For Billet Imports Is Stronger Than That For Scrap

Recently, due to the low demand in China and the promulgation of the new national standard for rebar, many Chinese steel mills actively sold their stocks, and the export quotation declined significantly. However, the export price of rebar in Türkiye has not been affected, and the overall price remains stable. At present, the rebar price in Türkiye is about 580-590 dollars/ton FOB, and the transaction price is about 570-585 dollars/ton FOB. According to Türkiye market news, the acceptable price level for buyers is about 570 US dollars/ton FOB, but it is expected that there is room for further price decline...

01Aug Steel News

Trading in The European Hot Coil Market Is Light, And It Is Difficult To Raise Prices For Imported Resources

Today, the prices of hot coils in Europe remain unchanged, and the spot market for hot coils in Europe is currently in a state of “oversupply”, with sluggish transactions and only a small number of back-to-back trades. A Nordic trader stated that they have already accumulated a large amount of inventory in the service center, so they are in a wait-and-see attitude towards purchasing new inventory and are currently purchasing on demand. At present, the summer vacation in many regions of Europe has begun, so many traders are no longer trading in the market. Some buyers who obtained September orders...

30Jul Steel News

Nippon Steel Will Withdraw From Its Joint Venture BNA With Baosteel in China

According to reports, Nippon Steel has reached an agreement with Baosteel to withdraw from its joint venture with Baoshan Iron and Steel in China, Baosteel Nippon Steel Automotive Steel Plate Co., Ltd. (BNA), at the end of the current management period (August 29, 2024), and transfer all its shares in BNA to Baosteel. At that time, Nippon Steel’s steel production capacity in China will be reduced by 70%. BNA was established in 2004, mainly producing and selling cold-rolled steel plates and hot-dip galvanized steel plates for automobiles. Nippon Steel will sell its shares for approximately NT $77 billion. Despite withdrawing...

19Jul Steel News

Iran Faces Summer Power Outages, Russia Faces Export Pressure

Currently, the Iranian steel industry is experiencing traditional summer power outages, and local steel mills are trying to find ways to maintain operational balance and production. According to the sales manager of Mobarakeh Steel Company (MSC), a major sheet metal producer in Iran, MSC’s power supply has been restricted since May 22, 2024, with a cumulative impact on production exceeding 200000 tons. Even though the company can use its own energy to achieve self-sufficiency in power supply, energy supply remains a challenge for the factory due to reduced power supply from the grid. Due to the shortage of electricity,...

16Jul Steel News

Türkiye’s Electricity Price Rises, Steel Mills Cut Output

Since July 1, the electricity price in Türkiye has risen. Residential electricity prices have increased by 38%, while for high energy consuming users such as steel mills, electricity prices have increased by 20%. At present, steel mills are facing pressure from high costs and unfair competition, and the rise in electricity prices may force steel mills and heavy rolling mills to further reduce production. Ç olako ğ lu CEO U ğ ur Dalbeler stated that the cost of steel manufacturing has increased by about $10 per ton, and the market environment is harsh, so steel mills may further...

12Jul Steel News

The Seasonal Monsoon Affects The Increase Of Imported Resources, And The Domestic Steel Market in India Continues To Be Under Pressure

Major steel mills in India have lowered prices for hot-rolled coils in July due to weak demand affected by seasonal monsoons. In terms of sheet metal, the current ex factory price of hot coils in India is generally between $615-640 per ton, which is $15-25 per ton lower than the price in June. It has also been heard that some traders’ quotations are mainly concentrated at the level of 619-622 US dollars/ton. Even if the quotations are reduced, the competitiveness of this price is still weak compared to the price of 613 US dollars/ton for some Japanese export resources....

10Jul Steel News

The Price Of Imported Scrap Steel in Türkiye Remains High, And The Cost Is High. The Quotation Of Thread in Türkiye Is Firm

Recently, the price of imported scrap steel in Türkiye has remained stable at a high level. In the case of high prices of imported raw materials, although the overseas demand for rebar in Türkiye is sluggish, the quotation of some rebar in Türkiye is still relatively firm. A steel mill in Malay completed a transaction on Wednesday for US heavy waste resource HMS 1/2 (80:20) at a price of $390 per ton of CFR, with a shipping schedule from August to September. The quotation of HMS 1/2 (80:20) from Europe for heavy waste is about 388-390 dollars/ton CFR Türkiye. It...

03Jul Steel News

China’s Quotation For Singapore’s Long Materials Continues To Decline, And Wire Rods Are Rumored To Have Sold in Small Quantities

Recently, China’s overall quotation for Singapore long materials has fallen again compared to the previous period. Specifically, Mysteel has heard that Chinese steel mills are quoting $520/ton CFR Singapore for rebar, while Malaysian steel mills are offering the same quote at $520/ton DAP, a decrease of $5/ton compared to last week. In terms of transactions, a batch of rebar orders with a price of 515 US dollars per ton of CFR have been imported from Hong Kong recently, and Singapore has not heard of any import transactions yet. Recently, due to some buyers holding a bearish attitude towards...

26Jun Steel News

Indian Buyers Have Lower Bargaining Power For Chinese Hot Coils. Vietnam’s Price Advantage Resources Flow Into The Indian Market

Recently, Indian hot coil importers have offered a counteroffer of approximately $530-535 per ton of CFR to Chinese hot coils, a decrease of approximately $10-15 per ton compared to last week. While Indian buyers have seen a significant decrease in bargaining, India has imported approximately 70000 tons of Vietnamese heat coils at a price of $575-580 per ton, with an August shipping schedule. Although the price of Indian imported Vietnamese hot coils is relatively high, due to free trade policies, Indian imported Vietnamese hot coils are exempt from import tariffs, while imported Chinese hot coils require a tariff of...

24Jun Steel News

Cost Pressure Is High, Demand Is Weak, Italian Steel Mills Hope To Increase Domestic Prices Of Long Materials

Currently, due to the surge in energy costs, the prices in the Italian long rod market have further compressed the profits of steel mills. Steel mills hope to increase domestic long rod prices by 20-30 euros per ton. The price of domestic rebar in Italy is generally at a transaction level of 350-370 euros/ton EXW, while the price increase of 12mm B450C rebar warehouse is about 615-635 euros/ton, and the transaction price of wire rod is generally between 650-660 euros/ton DAP, with no change on a weekly basis. According to Italian steel production data, Italy’s crude steel production...

21Jun Steel News

The Demand in The Indian Market Has Improved Slightly Due To The End Of The General Election, But The Improvement Is Limited Due To The Influence Of Off-season Factors

Currently, India is in the period of the end of the general election, and market transactions are gradually recovering and demand is improving. At the same time, favorable macroeconomic policies may drive a strong atmosphere of positive sentiment in the steel market. However, according to feedback from local traders, even though there has been some improvement in demand due to the end of the election, the overall improvement in demand is not significant due to the problem of monsoon arrival from June to September, which usually affects demand and downstream construction activities. In addition, another factor affecting demand is...

20Jun Steel News

Southeast Asian Billet Prices Continue To Decline, Buyers Are Watching Low-priced Resources

Due to the recent sustained weakness in the Southeast Asian billet market, most Southeast Asian billet buyers are adopting a wait-and-see attitude, waiting for lower prices to appear. At present, it is rumored that steel mills have quoted a price of 510-515 US dollars/ton CFR Southeast Asia for the export of 5SP billets, which is slightly lower than last week’s price of 510-520 US dollars/ton CFR. It has been heard that Indonesian and Chinese steel mills have quoted $510/ton CFR for billets with a specification of 3SP, and $513/ton CFR for billets with a specification of 5SP. In terms...

18Jun Steel News

The Decline in Raw Material Prices Combined With Weak Demand Has Led To A Decline in Brazilian Slab Prices

Recently, the Brazilian slab export market has been sluggish, with slab prices ranging from $570-580 per ton FOB, a decrease of $10 per ton compared to last week. Although major Brazilian exporters have resumed export orders for July and August shipping schedules, the market remained slow in early June, with buyers mainly purchasing on demand. Market participants stated that a cold market at the beginning of the month is the norm, and the strong bearish sentiment among market participants this month has led to a further decline in export volume. In terms of raw materials, the decline in iron...

14Jun Steel News

The Demand For European Sheet Metal Market Is Light, And There Are Few Inquiries For Imported Resources

This week, the prices of cold coils and hot-dip galvanizing in Europe have remained relatively stable. In terms of cold coils, the European market is dominated by lower priced imported products. Compared to the Chinese market, European steel mills do not have a competitive advantage. Only when someone needs shorter delivery times and specific grades (or sizes), do European steel mills have competitive opportunities. At present, European steel mills are reducing their production of cold coils, mainly focusing on hot-dip galvanized products with higher added value. It is understood that the delivery price per ton of rare CRC/s corn from Nordic steel mills is...

13Jun Steel News

Affected By The Approaching Eid Al Adha Holiday, Trading in The UAE Market in Egypt Has Slowed Down

Recently, many Muslim countries such as Egypt and the United Arab Emirates are about to celebrate Eid al Adha (June 16-19), and many market participants are preparing for the holiday, resulting in a slowdown in market trading activities. The Egyptian market will have a holiday of about 10 days starting from this Friday, and demand will continue to be weak. Some local traders have reported that they are currently in a wait-and-see state for the future market. Currently, the price of threaded steel in the Egyptian long rod market is around 659-745 US dollars per ton. Compared to...

12Jun Steel News

Singapore’s Long Term Material Demand Remains Low, China’s Snail Export Quotation Temporarily Leads Market

Recently, the supply and demand fundamentals of Singapore’s long material market have remained stable, with actual imported thread prices remaining unchanged on a weekly basis, currently around $535-540 per ton of CFR. At present, a Malaysian steel plant is quoting 540 US dollars per ton of CFR, calculated. A Vietnamese steel mill quoted $545 per ton of CFR, a decrease of $5 per ton compared to the previous week. At present, although there is still some downstream demand in Singapore, the overall demand is relatively sluggish. I haven’t heard any quotes from steel mills in China and the Middle...

06Jun Steel News

Price Reduction Is Endless, Maersk Is Suspended, The Biggest Challenge For Shanghai Port!

Against the backdrop of the escalating Red Sea crisis and high demand, global transportation capacity continues to be tight, leading to a significant increase in freight rates on multiple routes. Shortage of cabins and containers has doubled the pressure on enterprises. Nowadays, not only is there a shortage of ships and a tight supply of containers, but even ports are too busy to handle. Shanghai Port faces the biggest challenge in the past three years It is understood that port congestion in the Asian region is particularly severe, with Southeast Asian ports accounting for 26% of global port...

05Jun Steel News

International Steel Market Daily: Southeast Asian Slab Prices Have Experienced A Significant Monthly Decline. Some Buyers Are Cautious And Watching Russia’s Low-priced Resources

According to the latest information, the mainstream price of imported slabs from Southeast Asia with specifications of SAE1008/SAE 1006 is about $530/ton CFR, with a month on month decrease of about $10/ton. At present, a mainstream steel mill in Indonesia is quoting $500/ton FOB for square billets with a specification of 3sp, and $510/ton for slab billets, a decrease of $20/ton on a month on month basis. Some market participants have stated that although overall market activity has increased and transactions have improved in May, the Indonesian steel currently does not accept bargaining and only accepts a bargaining space...

03Jun Steel News

IEA Expects China To Continue To Dominate Rare Earth Refining This Decade

The International Energy Agency predicts that by 2030, global rare earth magnet refining capacity will still be highly concentrated in certain regions, with China alone accounting for 77% of global refining capacity. Magnets made from these elements are critical to the clean energy transition as they are used in automotive traction motors and wind turbine motors for electric vehicles. Rare earth elements have the most geographical concentration of all critical energy transition minerals in terms of global refining capacity. In 2023, China, Malaysia and Australia will dominate the total rare earth refining output with a staggering 98% market share, with China...

31May Steel News

European Hot Coil Import And Export Prices Are Stable

This week, hot-rolled coils for July delivery in Northern Europe were quoted at 640-660 euros/ton EXW (695-716 US dollars/ton). Some suppliers said they would deliver goods in advance in June, indicating that the market demand is generally not large. It is reported that the tradable price is between 620 and 630 euros/ton EXW, which is basically stable week-on-week. Currently, except for Germany, demand in other parts of Europe is generally average. According to reports, Egypt’s CFR Antwerp crude oil import quotation is 620 euros per ton, and Turkey’s import quotation is 620 euros per ton, including anti-dumping duties. In Italy,...

29May Steel News

Russia, China Eye Steel Industry Cooperation

The Russian Iron and Steel Association and the China Chamber of Commerce for Import and Export of Minerals, Minerals and Chemicals signed a memorandum of cooperation in the field of mining and metallurgy last week. Both sides agreed to create a favorable business environment for mining and metallurgical enterprises in both countries and provide all necessary assistance. Alexei Sentyurin, executive director of the Russian Steel Association, said: “Our two countries have a long-standing relationship that still has great potential to expand.”Russian steelmakers reduced investments in 2023, breaking a trend of consistent investment growth that began in the early 2000s, according to...

27May Steel News

Brazilian Steel Industry To Invest US$19.5 Billion

Brazilian steelmakers will invest 100.2 billion Brazilian reals ($19.5 billion) over the next five years in production expansion, process upgrades and decarbonization projects. Brazilian President Lula announced the news this week, but he did not provide any details about which companies planned to do so. Lula said these actions will strengthen and improve the competitiveness of the sector. The industry has previously announced a number of major projects, which have already begun implementation. They viewed Lula’s announcement as a political ploy to quell the industry’s demands for protectionist measures to boost competitiveness and protect investments made in recent years. One...

23May Steel News

Türkiye’s Posco Assan Company Requests Additional Anti-dumping Duties On Stainless Steel Products From China And Indonesia

Turkey’s largest stainless steel flat steel producer Posco Assan TST (Turkey Posco Assan TST, a joint venture of South Korea’s Posco Steel and Turkey’s Kibar Holding) has requested the Turkish Ministry of Trade to launch an anti-dumping investigation into stainless steel imported from China and Indonesia, and to conduct an anti-dumping investigation into stainless steel imported from China and Indonesia. Products imported into the country are subject to a 20% anti-dumping duty. Turkey’s Posco Assan Company believes that the import of low-priced inferior stainless steel has affected Turkey’s domestic trade steel production, and requires necessary measures to be taken on...

22May Steel News

Nippon Steel Raises Prices in May Due To Cost Reasons

Due to rising alloy costs, Nippon Steel Stainless Steel Corporation (NSSC) will increase the price of nickel-based stainless steel (300 series) sold in May by 20,000 yen/ton (US$128/ton) and chromium-based stainless steel (400 series). 5,000 yen/ton. As the average cash settlement price of nickel on the London Metal Exchange from March to April was US$17,803/ton, a month-on-month increase of 5.5%, the cost of nickel delivered by NSSC in May increased by 5.5% month-on-month to US$8.08/lb. The Indonesian government said in early March that it would speed up the issuance of nickel mining quotas, but the process still lagged behind expectations....

21May Steel News

Nickel Prices Soar Amid Unrest in New Caledonia

Nickel prices on the London Metal Exchange surged more than 5% on Friday amid violent protests and riots in New Caledonia. New Caledonia will become the world’s third largest nickel producer in 2023. Nickel prices rose nearly 7% to US$21,150/ton, before falling back to US$20,880/ton, an increase of approximately 5%. Gains in futures contracts were supported by concerns about further supply disruptions in New Caledonia, as well as the International Energy Agency’s forecast of “rapid” growth in electric vehicle demand, mine closures and slowing investment leading to future supply shortages. French miner Eramet operates five nickel mines in the country...

19May Steel News

EU Approves Nippon Steel’s Acquisition Of U.S. Steel

The European Commission approved Nippon Steel’s proposed $14.9 billion acquisition of U.S. Steel on May 6, concluding that “given the limited market position resulting from the proposed transaction between the two companies, no competition issues will arise.” . Still, the deal faces political opposition in the United States, having to contend with resistance from lawmakers and the United Steelworks union, among others. Nippon Steel has sought to address these concerns by offering to move its U.S. headquarters to Pittsburgh, home to U.S. Steel, and pledging to abide by all agreements between U.S. Steel and the United Steelworkers. U.S. Steel said...

17May Steel News

Congratulations to The 25th Anniversary of Runfei Group

In honor of the 25th anniversary, Runfei Group recently took a trip to one of the most beautiful island destinations in the world, Boracay, the Philippines. This was a celebration of not only the company’s successes over the past quarter century, but also a chance for us to bond and create new memories together. Boracay is known for its crystal-clear waters, white sandy beaches, and vibrant nightlife. It is a destination that offers something for everyone, whether you are looking to relax and soak up the sun, or take part in exciting water sports and island adventures. During the time in Boracay,...

16May Steel News

The United States Announces It Will Impose Additional Tariffs On Chinese Steel And Aluminum

On May 14, 2024 local time, the United States announced that it would impose additional tariffs on Chinese steel and aluminum. Under Section 301, tariff rates on certain steel and aluminum products will increase from 0-7.5% to 25% this year. The United States says steel is an important sector of the U.S. economy and American companies are leading the way to a clean steel future. Most recently, the Biden-Harris Administration announced $6 billion in funding for 33 clean manufacturing projects, including steel and aluminum, including the first new primary aluminum smelter in 40 years, through the Bipartisan Infrastructure Act and...

15May Steel News

Biden Set To Increase Chinese EV Tariffs To Over 100%

The Biden administration is expected to impose tariffs on Chinese electric vehicles and other imported products to make domestic industries more competitive. After a three-year review, the U.S. government is considering increasing tariffs on Chinese electric vehicles from 27.5% to 102.5%. According to Bloomberg, tariffs on other industries will be doubled or tripled, but the exact scope is unclear. These industries may include batteries, solar cells, steel and aluminum. The announcement comes as the 2024 US presidential race intensifies. The review was first proposed by Trump in 2018. However, Trump is now calling for broader measures that Biden says go...

14May Steel News

Draft Free Trade Agreement Between Ukraine And Türkiye

On May 7, the Ukrainian Cabinet approved the draft free trade agreement between Ukraine and Turkey, laying the foundation for the agreement to take effect. The agreement aims to promote the development of trade relations between the two countries by providing more favorable access conditions, eliminating trade barriers, reducing business operating costs, and ultimately improving national economic benefits. Yulia Sviridenko, Deputy Minister of Economy of Ukraine, said that this will bring new trade opportunities to Ukrainian companies. Simplifying logistics is crucial for companies and will help attract two-way investment. The main content of the agreement involves the elimination of import...

08May Steel News

World Steel Says: Global Steel Industry Requires Fairness Amid Decarbonisation

Edwin Basson, director general of worldsteel, said at the Singapore Green Steel Forum on Tuesday that a level playing field is key to keeping global steel trade open while the steel industry faces decarbonization challenges. He noted that discussions are currently underway on harmonized measurement of CO2 emissions and reductions, common principles for standards and brands (such as mass balance methods), and fair trading of steel in decarbonization efforts. Many steel producers are marketing their own brands of decarbonised steel using mass balance approaches. In most cases, CO2 savings in one part of the production process are bundled together and...

07May Steel News

Good News For The Domestic And International Steel Market During The May Day Holiday

During the May Day holiday, the market’s expectations for the Federal Reserve to cut interest rates this year were fully rekindled. Since April, corporate inventories have dropped significantly, and steel prices have stabilized and rebounded slightly. However, imported ore prices have increased even more, and steel mills still have room to further control production and reduce inventories. The profit performance of steel mills is disappointing. China Iron and Steel Association announced that in the first quarter, the cumulative operating income of key steel companies was 1.49 trillion yuan, a year-on-year decrease of 4.55%; the total profit was 8.708 billion yuan,...

26Apr Steel News

European Domestic Hot Coil Prices Are Stable And Imported Resources Have No Advantage

In the northwest European market, the price of German hot coils has bottomed out at present. Although demand is weak, a wave of replenishment is expected, so short-term demand may recover, and the current productivity of European steel mills can deliver hot coils within the specified period. rolls, so there’s no pressure to order big orders. The current hot coil price in Southern Europe is 620 euros/ton EXW Italy (663 US dollars/ton), which is basically unchanged week-on-week. In the Nordic market, the price is relatively high. The current price is 630-640 euros/ton EXW (674-685 US dollars/ton). The actual transaction price...

25Apr Steel News

Brazil Raises Import Tariffs On Steel Products. The Products Involved Include Hot Coils, Cold Coils, Galvanizing, Etc.

On April 23, 2024, the Brazilian Commerce and Foreign Trade Executive Management Committee (Gecex-Camex) issued an official document announcing an increase in import tariffs on 15 types of steel products to 25% for a period of one year, and also established import quotas for 11 types of steel products. The steel products involved in the document include hot-rolled coils, cold-rolled coils, hot-dip galvanized coils, aluminum-zinc alloy coils, wire rods and oil-specific pipes (OCTB). It is currently unclear when this measure will officially take effect, and how it will technically restrict the import of the above-mentioned products into Brazil. In addition,...

23Apr Steel News

Türkiye’s Imports Of Hot-rolled Coils From China Continued To Grow From January To February

According to the latest monthly data from the Turkish Statistical Institute (TUIK), Turkey’s total hot-rolled coil imports fell 8.5% year-on-year to 755,000 tons from January to February. Despite facing anti-dumping investigations, Turkey’s imports of hot-rolled coils from China more than doubled year-on-year between January and February, reaching 352,000 tons. On October 31 last year, the Turkish Trade Ministry launched an anti-dumping investigation into hot-rolled coils imported from China, India, Japan and Russia, saying that the results of the investigation are expected to be announced in the next few months. During this period, prices continued to rise. Industry sources said inflows...

18Apr Steel News

Geopolitical Tensions in The Middle East Lead To Sluggish Performance in The Black Sea Steel Billet Market

Since April 15, the Black Sea steel billet market has been sluggish, geopolitical tensions in the Middle East have been tense, and Turkey recently banned steel exports to Israel. Market participants remain concerned about related markets. Recent inquiries from Turkey and Egypt for Russian steel billets are almost at the same level, about US$500/ton FOB Black Sea. It is understood that Egyptian traders have booked 5,000 tons of 5SP 125×125 mm Russian billet. Some traders are cautiously optimistic about the market this week. A Turkish agent, referring to Turkish demand, said prices are expected to move higher this week. The...

15Apr Steel News

U.S. Steel Shareholders Voted Over 98% in Favor Of Being Acquired By Nippon Steel

U.S. Steel (X.US) shareholders voted on Friday to approve Nippon Steel’s proposed $14.9 billion acquisition of the company, in line with market expectations. U.S. Steel said more than 98% of the votes cast were in favor of the deal. Friday’s vote is an important step in the process of completing the deal. However, the deal still faces huge regulatory pressure. U.S. Steel closed down 2.1% on Friday at $41.33, well below the $55 per share purchase price, reflecting uncertainty over whether the deal will win regulatory approval. However, the deal has drawn criticism from Democratic and Republican U.S. lawmakers as...

11Apr Steel News

Gaza And Israel Conflict Continues, Türkiye Restricts Steel Exports To Israel

As Türkiye celebrates the holiday of Bayram and Ramadan comes to an end, the country’s rebar market is experiencing a quiet period. Despite the sluggish market activity, the Turkish Trade Ministry announced on April 9 an immediate ban on the export of a total of 54 commodities to Israel. The list of commodities included rebar, wire rods and aluminum profiles. The trade restrictions will remain in effect until Israel declares an immediate ceasefire in Gaza within the framework of its obligations under international law and allows adequate and uninterrupted humanitarian assistance to the Gaza Strip. Turkey is currently on the...

09Apr Steel News

Italian Market Demand Is Sluggish（china Steel FOB Price）

Quotations for imported billets from Italy have fallen recently due to sluggish demand and weak market fundamentals, particularly falling iron ore prices. Billet demand is weak in some parts of Asia, coupled with the past holiday in Italy, the market demand is insufficient. Some Asian billet suppliers have lowered their quotations for Italy, but the lower quotations did not bring new orders. An Indonesian supplier quoted a quotation of US$500/ton FOB equivalent to US$540-550/ton CFR, a week-on-week decrease of US$30-40/ton. The quotation of similar products from a steel mill in Vietnam is US$530/ton FOB, down US$5-10/ton on a week-on-week basis....

07Apr Steel News

Ramadan Is Coming To An End And The Market Still Needs To Recover

The Muslim holy month of Ramadan begins on March 11 and ends with the celebration of Eid al-Fitr on April 11.In the last few days of Ramadan, the traditional demand for steel in the United Arab Emirates and Saudi Arabia slowed down, and the import market is not expected to improve until mid-April. At present, Emirates Steel Company is still selling rebar orders for April at a price of US$745/ton EXW. The tradable price is at the level of US$680-700/ton EXW. Rebar quotations from re-rolling mills are hovering at US$635-655/ton.Buyers in the United Arab Emirates and Saudi Arabia have also...

03Apr Steel News

Ministry Of Industry And Information Technology Takes Action

The Department of Raw Materials Industry of the Ministry of Industry and Information Technology held a working meeting on stabilizing growth and increasing efficiency of steel production enterprises, and planned to formulate relevant policies to better promote the stable development of the steel industry, which will provide a certain boost to market sentiment. In addition, the first symposium on large-scale equipment renewal and consumer goods trade-in was held today, and more policies have been implemented to boost investment confidence in the steel market and expand the release of speculative demand, which is expected to boost the overall demand for steel....

02Apr Steel News

Asian Hot Rolls Continue To Fall

Last week, affected by the futures market, Asian hot coil prices continued to fall. The current price of SS400 (3mm) hot coils in Southeast Asia is US$520/ton CFR Southeast Asia, a week-on-week decrease of US$5/ton. However, compared with other varieties, the demand for SS400 hot coils Not high. Quotes for Q235/Q235B dropped by nearly US$15/ton within a week. The market generally reflected poor demand, mainly due to concerns about the potential for further declines in the market. Similarly, the price of Q195 (3mm) also dropped by about US$15/ton within a week to US$510/ton CFR Vietnam, and the actual transaction is...

28Mar Steel News

How Much Steel Will The World Need By 2050?

How much steel will the world need by 2050? There are now 8 billion people on the earth and “consume” about 1.8 billion tons of steel every year. In other words, the per capita annual steel consumption is roughly 222 kilograms. However, this figure varies significantly across regions, with apparent steel consumption per capita ranging from 310 kilograms in Europe to around 30 kilograms in Africa. The United Nations predicts that the global population will be close to 10 billion in 2050. Based on the current apparent steel consumption per capita, approximately 2.2 billion tons of steel will need to...

13Mar Steel News

Indonesia’s Slab Decline Expands, Hot Coil Supply Is Expected To Increase

This week, the latest quotation for slab from a mainstream steel plant in Indonesia is 540 USD/ton FOB, a decrease of 30 USD/ton from last week. At present, local demand in Indonesia is very sluggish, and there are relatively few slab transactions in the Southeast Asian region. Although the demand for Southeast Asian slabs in Europe has not significantly declined, inquiries from European buyers have decreased compared to before.Due to poor demand for sheet metal, Italian sheet metal prices have continued to weaken recently. Currently, the local market price for medium and thick sheet metal is about $808/ton EXW, while...

30Jan Steel News

International Steel Market Daily: Under Cost Pressure, Tokyo Iron Works Raises Board Prices in February

Against the backdrop of tight domestic quotas and rising raw material prices, Tokyo Steel announced on January 29 that it will raise the prices of some sheet materials by 2000 yen/ton (14 US dollars/ton) in February, marking the company’s first increase since July 2023. Although the pace of demand recovery in local automotive and other manufacturing industries remains uneven, with generally low freight volumes, due to long-term procurement restrictions by steel mills, their distribution inventory is at a low level, and some sheet products are in short supply.The company has not yet adjusted the prices of construction steel, citing a...

15Jan Steel News

International Steel Market Daily: The Red Sea Crisis Continues To Heat Up, South American Plate Prices Rise Overall

On January 12th, the United States and Britain launched a joint attack on the Yemeni Husai armed forces, leading to further escalation of conflicts in the Red Sea region and continued pressure on freight costs. In addition, the month on month increase in mainstream export quotes from China has driven up the overall import prices of South American sheet materials this week. In this context, Brazilian National Steel Company (CSN) announced a price increase of 5.00-6.25% for hot rolled steel coils, cold rolled steel coils, and hot-dip galvanized coils starting from mid January. Considering that China’s steel exports to Brazil may decline this year,...

11Jan Steel News

International Steel City Daily: Türkiye’s Rebar Prices Continue To Rise, And The Production Monitoring System Is Delayed

Recently, the price of rebar in Türkiye has shown an upward trend, and the domestic sales volume has increased significantly. Some products have also been exported to Yemen. In Izmir, Türkiye, the sales price of rebar is 610-615 dollars/ton EXW, and the export quotation of some steel mills is 630 dollars/ton FOB.After the earthquake on February 6, 2023, the General Administration of Mint and Printing of Türkiye proposed and implemented a monitoring system to ensure that the production, testing and use of rebar comply with the safety standards of construction and taxation. According to the initial regulations of the system,...

10Jan Steel News

International Steel Market Daily: Local Oversupply, India’s Heatwave Reappears in The Vietnamese Market

At present, some Indian buyers have ended their holidays and returned to the trading market, but due to high inventory, local hot rolled coil transactions in India are still sluggish. Last week, local hot rolled coil prices in India decreased by approximately $24USD/MT on a week on week basis, with ex factory prices ranging from $661-673USD/MT EXW. As of the date of publication, prices remained stable. The trading atmosphere is poor, and considering profits, some Indian steel mills have expressed willingness to even lower prices to export hot rolled coil in an effort to maintain local prices for hot rolled coil. In such a fundamental...

08Jan Steel News

International Steel Market Daily: JSW India Plans To Invest 650 Billion Rupees To Expand Production Capacity And Build India’s Largest Single Steel Plant

On January 5, 2024, JSW Utkal Steel, a subsidiary of JSW Steel, announced that it had obtained a document from the forest officials of the Rajanogor Mangrove Department in Orissa, India, and successfully obtained the legal right to use 2677.80 acres of forest land. This batch of land will be used to build a comprehensive steel plant with an annual crude steel production capacity of 13.2 million tons. In September 2023, JSW obtained the revised and conditional approval from the Indian Ministry of Environment, Forests and Climate Change. The total investment for this project, including the construction of related steel...

05Jan Steel News

Kocaer A1 plant in Türkiye will stop production for two months

Kocaer Steel, a large steel profile and commercial bar producer in Türkiye, will suspend the production of Aliaga A1 Plant during the second phase of the investment plan (January 5 to March 5), and conduct commissioning of the investment project to put new machinery and equipment into use.In order to achieve its growth goals for the next few years, the company is making strategic investments in renewable energy and high value-added new products, and has stated that all necessary preparations have been completed to ensure that production and delivery targets for 2024 will not be affected due to production suspensions.Previously,...

03Jan Steel News

International Steel Market Daily: Russia’s Active Export Of Finished Sheet Metal And Slab Trading Remains Sluggish

Recently, the export market of Russian sheet metal has been trading actively. Due to the turbulent situation in the Red Sea, the hot rolled coils from nearby importing countries are more concerned by Türkiye’s traders than those from far away in China, which has provided some support for the rise in prices of related resources.The tradable price of the export resources of hot rolled coils from the Commonwealth of Independent States in Türkiye is between 595-620 dollars/ton FOB, a slight increase of 5-10 dollars/ton compared with last week. In addition, a batch of cold rolled coils from Russia were exported...

28Dec Steel News

International Steel Market Daily: The Escalating Tensions in The Red Sea Have Hindered China’s Steel Exports

According to Mysteel, the recent tense situation in the Red Sea region has had a serious impact on China’s steel exports. Due to the attack by the Hussein organization, ships on the Red Sea route were suspended, which not only led to an increase in export costs but also affected steel orders for exporters and affected areas. Some ships are forced to divert to South Africa, and carriers who choose not to do so will face an additional 15% fee. Affected by the situation, the willingness of Chinese steel exporters to trade with Middle Eastern buyers has decreased, and shipping...

26Dec Steel News

International Steel Market Daily: China’s Hot Coil Price Advantage Is Obvious. Some Steel Mills Start Shipping in March To Accept Export Orders

Today, the price of Chinese hot coils is stable and trending towards strength. As of the time of publication, the spot price of mainstream 3.0 hot coils in Shanghai is 4170 yuan/ton (584 US dollars).In terms of exports, the export quotations of large steel mills are all above 580 US dollars/ton FOB, which has some room for negotiation. Some steel mills are starting to accept export orders for the March shipping schedule next year. According to feedback from a Southeast Asian merchant to Mysteel, as the end of the year approaches and there are more holidays, although the demand for...

22Dec Steel News

Import Dependence Is Temporarily Difficult To Alleviate. The 12th Round Of EU Sanctions Extends The Quota Period For Russian Slab Production

On December 18, 2023, the European Commission released details on the twelfth round of sanctions against Russia. Among them, the European Commission extended the quota for slab imports until September 30, 2028, and the ban on importing billets remained unchanged. Starting from April 1, 2024, the import of billets originating from Russia was prohibited.According to the documents of the European Commission, there are four stages of changes in the Russian slab quota from 2024 to 2028. The quota is 3.185 million tons from October 1, 2024 to September 30, 2023, 2.998 million tons from October 1, 2025 to September 30,...

19Dec Steel News

International Steel City Daily: Seasonal Factor Challenges Hit Türkiye’s Rebar Market Fell Into A Downturn

Recently, influenced by seasonal factors, the demand for rebar in Türkiye has slowed down and the market has fallen into a downturn. At present, the mainstream price of rebar in Türkiye is US $610-620/ton FOB, the higher price of some resources is US $640/FOB, and the tradable price is US $600-610/ton FOB. No transaction has been heard yet. To stimulate consumption, some steel mills are willing to reach deals at lower prices. However, due to high raw material costs, the currently acceptable lowest price in the market remains at $600/ton FOB. In addition, some traders have stated that compared to...

14Dec Steel News

Russia Remains Türkiye’s Largest Semi Finished Timber Supplier

According to the latest monthly data of Türkiye Institute of Statistics (TUIK), Türkiye’s total imports of semi finished timber in October fell 22% year-on-year to 352500 tons. However, as of the first nine months of 2023, the total import volume still increased by 46% year-on-year, reaching 4.6 million tons. Until October, Russia was still Türkiye’s largest semi finished timber supplier. In October, the supply was 191300 tons, up 37% year on year, lower than 338000 tons in the same period last year.The European Union announced on June 23 that steel imported into the EU must prove that its materials are...

12Dec Steel News

International Steel Market Daily: China’s Steel Prices Remain Stable, With No Improvement in Newly Signed Export Orders

Today, the price trend of Chinese hot coils is generally stable. As of the time of publication, the spot price of mainstream 3.0 hot coils in Shanghai is 4150 yuan/ton (578 US dollars), indicating a slight lack of market confidence.In terms of exports, there is currently a significant differentiation in steel mill quotations. Large state-owned steel mills generally offer hot coil prices above $590/ton FOB, while some private steel mills offer prices around $565/ton FOB. There are a few orders completed during the February shipping schedule. Overall, the purchasing enthusiasm of overseas buyers has declined to a certain extent. On...

07Dec Steel News

International Steel Market Daily: Significant Price Differentiation Of Rebar in The UAE Domestic Market, Market Pessimism Spreading

Recently, the imported rebar prices in the United Arab Emirates have remained stable, but due to a slowdown in buyer demand to avoid year-end inventory accumulation, the local price range has expanded, mainly through rigid demand procurement.During the local National Day holiday, the market closed on December 4th, and it is expected that steel mills will end their bookings this week. It is reported that the listed price of rebar for delivery to the UAE domestic benchmark steel plant (UAE Steel Company) in December is 710 USD/ton EXW Dubai, with a slightly lower tradable price of approximately 685 USD/ton EXW...

05Dec Steel News

International Steel City Daily: The Cost Of Raw Materials Remains High, And The International Competitiveness Of Türkiye’s Resources Continues To Decline

Recently, supported by the cost of raw materials, the rebar price in Türkiye continues to run at a high level. At present, most of Türkiye’s steel mills are quoted at USD 585-595/ton FOB, while one steel mill in Marmara region is quoted at USD 605/ton FOB. Under current market conditions, the transaction price of rebar exported from Türkiye is 590-595 dollars/ton FOB. Israel, Yemen and some South American countries can accept a transaction price of 580 US dollars/ton FOB, but Türkiye traders believe that in the case of high cost of scrap and other raw materials, the transaction possibility of...

30Nov Steel News

Australia Initiates Anti-dumping Sunset Review Investigation On Hot-rolled Steel Sections

On November 22, 2023, the Australian Anti dumping Committee issued Announcement 2023/082, stating that the second anti-dumping sunset review investigation was launched against hot rolled structural steel sections imported from Japan, South Korea, Thailand and Taiwan, China, China, in response to the application of OneSteelManufacturing Pty Limited (trade name: Liberty PrimarySteel), a domestic enterprise in Australia. The dumping investigation period in this case is from October 1, 2022 to September 30, 2023, and the injury investigation period is from October 1, 2019 to September 30, 2023. The Australian customs codes for the products involved are 7216.31.030, 7216.32.031, 7216.33.032, 7216.40.0033, 7228.70.0011,...

27Nov Steel News

International Steel Market Daily: High Raw Material Costs Led By Japanese Steel Mills To Significantly Increase Export Quotes For Hot Coils

Recently, Nippon Steel, the leading steel plant in Japan, announced that it will conduct maintenance on the hot coil rolling mill in February 2024, which will reduce its hot coil production by about 160000 tons. The average monthly export volume of the company is between 500000 and 600000 tons, and the export quota will be further reduced after the shutdown and maintenance of the rolling mill. Considering the high cost of raw materials and the squeeze on steel mill profits, the company has raised the export price of hot coils by $50/ton to $700/ton CFR EU and $600-630/ton CFR Asia,...

24Nov Steel News

International Steel Daily: The Price Of Imported Scrap Steel in Türkiye Rises, And The Rebar Quotation Remains Firm

Mysteel learned that weak market demand and rising input costs have been putting pressure on steel pricing of Türkiye’s steel mills. Despite the continuous downturn in demand, rebar producers still maintain high quotations against the background of high scrap import prices in Türkiye.Recently, a company based in Marmara booked an order for HMS1&2 (90:10) from a US scrap exporter for $393 per ton of CFR, and also confirmed a Baltic origin transaction for $385 per ton of CFR. After new orders from the United States and the Baltic Sea were confirmed, suppliers continued to maintain a bullish attitude, and the...

22Nov Steel News

International Steel Market Daily: China’s Steel Prices Remain Stable, With No Improvement in The Number Of Newly Signed Export Orders

Mysteel learned that recently, with the appreciation of the RMB, the export prices of Chinese hot coils have continued to rise. The export quotation of Chinese steel mills is about 564-580 US dollars per ton FOB, with a weekly increase of about 20 US dollars per ton.Mysteel estimates that the price of China’s export heatwave today is between 548-564 US dollars per ton FOB, an increase of 5 US dollars per ton compared to the previous day. Recently, due to the rise of the RMB exchange rate, reaching a new high in nearly four months, the economic fundamentals have been...

20Nov Steel News

International Steel Market Daily: Overcapacity Issues Highlight Malaysia’s Suspension Of Issuing Steel Production Licenses

In recent years, Malaysia’s steel production capacity has continued to grow, but its demand growth has significantly slowed down, and the industry is in a state of overcapacity. According to data released by the World Iron and Steel Association, Malaysia’s crude steel production capacity in 2022 was approximately 17 million tons, with a consumption of only 7.5 million tons. The pressure on production capacity of steel products such as threaded steel, construction wire rods, and cold rolling is increasing. On November 14th, Liu Zhendong, Deputy Minister of Investment, Trade and Industry (MITI) of Malaysia, stated that in order to reassess...

15Nov Steel News

International Steel City Daily: Türkiye’s Scrap Import Price Continues To Rise; Rebar Quotation Remains Firm

In November, the scrap import price of Türkiye rose significantly. Last Friday (November 10), Mysteel heard that two exports of heavy waste HMS 1&2 80:20 resources from the West Coast of the United States were sold to steel mills in southwest Türkiye at a price of 379-379.5 dollars/ton CFR. According to Mysteel’s understanding, the export price of the US/Baltic HMS 1&280:20 is mainly about 379-380 US dollars/ton CFR Türkiye, up about 14 US dollars/ton from the end of October. Mysteel also heard that last week, the transaction price of heavy waste HMS 1&2 80:20 in Europe was $373/ton CFR Marmara,...

14Nov Steel News

International Steel Market Daily: China’s Steel Prices Remain Stable, With No Improvement in The Number Of Newly Signed Export Orders

Today, China’s steel prices are generally stable. As of press release, the mainstream spot hot coil price for Q235 in Shanghai is 3930 yuan/ton (539 US dollars), indicating a slight lack of market confidence.In terms of exports, currently, the export prices of ordinary coils from large steel mills in the north are higher than 550 US dollars/ton FOB, and the markup for SAE1006 material hot coils is between 15 and 20 US dollars, with very limited counteroffer space. The main factor is that the high price of iron ore has led to a significant increase in production costs for Chinese...

10Nov Steel News

International Steel Market Daily: Expectations For Further Strength in The European Hot Coil Market As Prices Rise

The current heatwave price in the European market is around 650 euros/ton EXW, with a decrease in tradable prices of around 20 euros/ton and an increase of around 30 euros/ton on a weekly basis. The price decline this time is mainly due to steel mills actively reducing production. Against the backdrop of poor demand expectations, the recent wave of price strength has also led market traders to start restocking. However, even in the face of the upcoming Christmas holiday and winter, traders are not in a hurry to accumulate inventory, mainly due to the inconsistent views of the market on...

07Nov Steel News

International Steel Market Daily: Domestic Steel Demand Rebounds, Russian Hot Coil Exports Remain Calm

In the past week, due to the strong performance of the domestic flat material market in Russia, most suppliers have not yet turned to the export market, resulting in a relatively calm export market.It is understood that the latest quotation from Russian steel mills is between 565 to 575 US dollars per ton FOB, and buyers estimate that the available price is between 535 to 545 US dollars per ton FOB. On Tuesday, Mysteel assessed the price of the CIS export heatwave as $545-565 per ton FOB Black Sea, which was unchanged from the previous day.In addition, competition between suppliers...

07Nov Steel News

International Steel Market Daily: Turkish Rebar Export Prices Strengthened Slightly And Market Uncertainty Intensified

At present, Türkiye’s rebar exporters quote at 575-585 dollars/ton FOB, up about 5-10 dollars/ton from last week. But most market participants indicate that the actual transaction price is between 555-560 US dollars per ton FOB. Among them, the Malmara regional steel plant stated that due to the continuous high raw material costs, the lowest acceptable transaction price is currently 560 USD/ton FOB. In addition, the current domestic rebar quotation in Türkiye is USD 575-595/ton EXW. At present, the shipping date in November has arrived, and steel mills have begun to replenish the goods. The price of imported scrap steel in...

02Nov Steel News

International Steel Market Daily: The Supply Increase At Home And Abroad Is Obvious, And Brazilian Plate Prices May Be Under Pressure.

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...

02Nov Steel News

Vale Indonesia’s Earnings Fall On Lower Nickel Price

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...

31Oct Steel News

Vietnam’s Hot Rolled Roll Import Prices Continue To Remain Stable

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...

30Oct Steel News

IMF Forecast: World Economic Growth Continues To Slow And Commodity Price Volatility Increases

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...

26Oct Steel News

Long Steel Import Prices in Southeast Asia Continue To Remain Stable

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...

19Oct Steel News

The Middle East Hot Rolled Steel Coil Import Prices Are Stable While Falling

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...

08Sep Steel News

The Middle East Region Hot Coil Import Prices Are Mainly Stable

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...

28Aug Steel News

Iranian Apparent Finished Steel Consumption Inched Up 2.2% On-year in The First Four Months Of The Iranian Year

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...

04Aug Steel News

The European Hot-rolled Coil Market Saw Light Prices Fall

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...

04Aug Steel News

The Middle East Region Hot-rolled Coil Import Prices Continued To Rise

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...

27Jul Steel News

Import Prices For Hot-rolled Rolls Rose in The Middle East

On July 25, the UAE hot volume import valuation was $590- $640 / ton (CFR), up $10- $30 / ton week on week. According to the UAE market, at the beginning of this week, the mainstream export price of the UAE was $590-620 / ton (CFR), up $10-20 / ton from the beginning of last week, the mainstream export price of the Indian hot volume to the UAE was $640-660 / ton (CFR), up $40-45 / ton from last week. Some market participants said that the hot coil inventory of the end users in the UAE is generally low, and...

25Jul Steel News

Import And Export Prices Of Hot-rolled Rolls in India Rose

July 21 India Hot roll import appraisal $570-575 / ton (CFR), up $5 / ton week on week; July 21 India hot roll export appraisal $590-630 / ton (FOB), up $20- $30 / ton week on week; According to the Indian market news, since July, the supply of three mainstream Indian steel mills in the hot coil production lines has decreased, and some Indian suppliers have generally raised their hot coil export prices last week. A domestic hot coil dealer in India said that the current domestic demand for hot coil in India is weak, but the supply of resources...

17Jul Steel News

Import Prices For Hot-rolled Rolls in The Middle East Fell

On July 11, the UAE hot volume import valuation was $580-610 / ton (CFR), down from the previous week of $580-620 / ton (CFR). According to the UAE market news, the mainstream export quotation of overseas hot rolls to the UAE early this week: China hot roll $580-610 / ton (CFR), unchanged compared with last week; India hot roll $605-640 / ton (CFR), $620-640 / ton (CFR); Japan hot coil $605-610 / ton (CFR); Saudi hot coil $610-615 / ton (CFR), the UAE market said the current demand for hot rolls is low. July 11 Saudi Hot Volume (1.2mm) import...

12Jul Steel News

Vietnam Import Hot Rolled Coil Market Is Light

July 7 Vietnam hot coil import valuation of $570-575 / ton (CFR), an upward trend from $560-575 / ton (CFR) in the previous week (mainly refer to 2-3mm SAE1006 rerolled grade hot coil and similar products). According to Vietnam market, Vietnam hot import market actual transaction last week relatively light, on the one hand is the downstream demand not significantly improved, on the other hand is Vietnam’s first hot volume producer river static steel will release a new hot price policy, so the buyers are waiting for river static steel pricing information, there are some market rumors that the river...

12Jul Steel News

Southeast Asia Long Timber Import Prices Fell

On July 10, Singapore rebar is valued at $550-560 / ton (CFR), slightly lower than last week’s $555-560 / ton (CFR) price. According to the Singapore market news, at the beginning of this week, a parent Malaysian mainstream steel mills to Singapore rebar export quoted $570 / ton (CFR), including the freight from the port to the buyer; an Indian steel mills to Singapore rebar export quoted $562-565 / ton (CFR), but the steel mills said that this price has no orders. A Singapore trader said that he had not heard of a large number of imported rebar orders in...

06Jul Steel News

Import Prices Of Hot-rolled Rolls in The Middle East Have Remained Stable

July 4, UAE hot volume import valuation of $580-620 / ton (CFR), remained stable week on week. At the beginning of this week, the mainstream export prices of China and India to the UAE were $580-610 / ton (CFR) and $620-640 / ton (CFR) respectively. At the beginning of this week, there were no obvious orders in the imported hot coil market in the UAE. July 4 Saudi Hot coil (1.2mm) import valuation of $625-635 / ton (CFR), unchanged week on week. At the start of the week, and some market participants expect about a week for the market to...

28Jun Steel News

The Import And Export Volume Of Hot Rolled Coil Increased By 34. [] 4% And 38% Respectively.

According to the statistics of Korea Steel Association, from January to May 2023, Korea imported 1.61 million tons of hot rolled coil, a year-on-year increase of 34. [] 4%. Among them, imports from Japan were the most, 96. [] 70,000 tons, up 44. [] 8%, accounting for 60%; [] followed by imports from China [] 60.50,000 tons, up 44. [] 5%, accounting for 37. [] 5%. In May 2023, the import volume of hot rolled coil in South Korea was 26. [] 80,000 tons, down 7. [] 9% from the previous month. According to the statistics of Korea Iron and...

26Jun Steel News

Import Prices For Hot-rolled Steel Rolls Rose in The Middle East

June 20, UAE hot volume import valuation of $580-620 / ton (CFR), up $10- $20 / ton. According to the UAE market news, the mainstream quotation of overseas hot volume at the beginning of this week: China hot volume $580-610 / ton (CFR), up $10-20 / ton compared to last week; [] Indian hot volume $620-640 / ton (CFR), up $10-30 / ton compared to last week; [] Saudi hot volume $615 / ton (CPT). At the beginning of the week, I have not heard of a large number of imported hot volume orders in the UAE market. June 20...

16Jun Steel News

European Cold Rolled And Hot Dip Galvanized Coil Prices Continue To Fall

June 14 Nordic cold roll factory assessment of 780-800 euros (842-864 dollars) / ton, down 20-30 euros / ton week on week; [] June 14 Nordic factory assessment of hot dip galvanized roll in Nordic region 800-820 euros (864-886 USD) / ton, down 20-30 euros / ton week on week. According to the European market news, this week the European cold and hot dip galvanized roll market demand is still relatively depressed, while the impact of imported resources, the price continued to fall trend, but some market participants said it is close to the bottom price. This week, the factory...

12Jun Steel News

Hot Roll Prices in The United States Continued To Fall Sharply

On June 8, the Midwest hot volume price index was 1024. [] $9 / ton, down 52. [] $9 / ton, the new low since February 21 this year; [] The volume price index on June 7,1034. [] $2 / ton, down 46. [] $3 / ton. According to the Midwest market news, the Midwest hot volume market overall continuation of relatively light situation, buyers purchase, general purchase quantity to ensure the use of a month of demand, rather than a purchase months use demand, although the greater the purchase the discount is bigger, and some steel service center also...

09Jun Steel News

The Middle East Hot Rolled Steel Coil Import Prices Continue To Fall Mainly

June 6 UAE hot coil import valuation of $565-600 / ton (CFR), slightly lower than last week’s $580-590 / ton (CFR) price focus. According to the UAE market, at the beginning of this week, the UAE buyer purchased a batch of 5,000 tons of Chinese hot rolls at $585 / ton (CFR); [] a batch of Japanese hot rolls for $565 / ton (CFR) at the beginning of the week at $580-590 / ton (CFR); [] at the beginning of $595-630 US dollars / ton. June 6 Saudi Hot Volume (1. [] 2mm) import valuation of $615-630 / ton (CFR),...

02Jun Steel News

Import Prices For Hot-rolled Rolls in The Middle East Fell

May 30 UAE hot coil import valuation of $580-590 / ton (CFR), down from last week’s $580-615 / ton (CFR). According to the UAE market, at the beginning of this week, the mainstream export price of Japanese hot volume to the UAE was $585-590 / ton (CFR), down $25-30 / ton compared with last week; [] at the beginning of the week, the latest export price of India hot roll to the UAE, some UAE buyers evaluated the current Indian hot volume to the UAE more feasible transaction price of $580 / ton (CFR), at the beginning of the week,...

31May Steel News

Import And Export Prices Of Hot-rolled Coils in India Fell

India May 26 imports assessed at $580-590 / ton (CFR), down $20 / ton week / week; [] India May 26 $580-620 / ton (FOB), down from $580-630 / ton (FOB). According to the Indian market news, the overall Indian hot coil import market was relatively light last week, and buyers are mostly in the wait-and-see state because prices are expected to fall in the short term.

29May Steel News

European Cold-roll And Hot-dip Galvanized Plate Prices Continued To Fall

May 24 Nordic cold roll factory assessment in Europe 840-850 euros ($899-910) / ton, down 30 euros / ton week on week; [] May 24 Nordic hot dip galvanized board factory assessment 870-880 euros ($931-942) / ton, down 10 euros / ton week on week. According to the European market news, this week some European steel mills in September period of cold coil and hot dip galvanized sheet the latest factory price, and the European mainstream steel ArcelorMittaer also announced cut European plate price 100 euros / ton, the September period of cold coil and hot dip galvanized sheet latest...

29May Steel News

Hot Rolled Coil in The Midwest Of USA Continue To Fall

On May 25, the us Midwest hot coil factory price index was 1139. [] $4 / ton, down 21. [] $1 / ton. According to the Midwest market news of the United States, the overall Midwest hot coil market continued to be depressed, due to the recent low price, the current buyer purchase intention is low, to consume inventory and purchase on demand, with the traditional demand in the coming summer, the current buyer price is generally bearish; [] and steel mills try to maintain the hot coil factory price at $50 / American (1102. [] 5 / ton) above,...

23May Steel News

Import And Export Prices Of Hot Rolls in Turkey Fell

On May 19th, Turkey’s hot roll imports were valued at US $580,595 / ton (CFR), down by US $5 / ton from the previous week, while Turkey’s hot roll exports were valued at US $680,700 / ton (FOB) on May 19th, down US $15-20 / ton from the previous week. According to the Turkish market, Chinese hot rolls were quoted for mainstream exports to Turkey last week at US $590-US $595 per tonne (CFR), compared with US $585,600 per tonne (CFR) the week before. Last week, Turkey’s mainstream hot roll exports quoted US $680-720 per tonne (FOB), down 10-15 US...

17May Steel News

Production Of No. 1 Hot Rolling Mill Of Karakato Steel in Indonesia Stopped By Fire

The No. 1 hot rolling mill of Krakatau Steel, a mainstream steel mill in Indonesia, was shut down after a fire broke out on May 5. some industry insiders predict that the No. 1 hot rolling mill may stop production for about six months at most, but Karakato Steel said it would repair the damaged production line and resume production as soon as possible. At present, the No. 2 hot rolling mill of Caracato Iron and Steel Company is operating normally, so all the production of hot rolled coil will be transferred to the No. 2 hot rolling plant. The...

17May Steel News

Iron Ore Exports From Tehran Port Fell By 5% in April 2023 Compared With The Previous Month And Compared With The Same Period Last Year.

According to data released by the Port Authority of Port Hedland, Australia, iron ore exports from Port Hedland in April 2023 were about 43.27 million tons, down 2.49 million tons from 45.76 million tons in March 2023 and 5 per cent month-on-month. There was a decrease of 2.51 million tons from 45.78 million tons in the same period last year, and a decrease of 5 per cent from the same period last year. Of this total, the volume of iron ore shipped to China was about 35.53 million tons, down 4.88 million tons from 40.41 million tons in March 2023,...

08May Steel News

Import And Export Prices Of Hot Rolled Coil in Turkey Continue To Fall.

On May 5, Turkish hot roll imports were valued at US $585,600 / tonne (CFR), down US $10-15 / tonne from the previous week, and Turkish hot coil exports were valued at US $720,750USD / tonne (FOB) on May 5th, down US $10-20 per tonne from the previous week. According to the Turkish market news, this week Chinese hot rolls in late June ship to Turkey mainstream export quotation of US $585,600USD / ton (CFR), down from last week’s quotation by US $15-20 / tonne. At present, Chinese hot coil quotations have obvious price advantages in the Turkish market. This...

28Apr Steel News

European Hot Rolled Steel Coil Prices Continue To Fall

On April 26, the ex-factory price index of hot rolled steel coil in the Nordic region was 837.50 euros ($921.3) / ton, down 5 euros / ton week-on-week. According to Nordic market news, this week’s Nordic hot rolled steel coil market overall continued to be light, steel mills rarely released quotations, to digest the current handheld orders, most of the region’s May-June delivery time of hot rolled steel coil orders are full, a buyer said that one of the steel mills has not released hot rolled steel coil quotations for three and a half weeks. Due to the high price...

27Apr Steel News

The Import Price Of Hot Rolled Steel Coil in The Middle East Was Stable With Declining

The UAE hot rolled steel coil import assessment price on April 25 was $640-720/ton (CFR), unchanged week-on-week. According to the UAE market news, due to the Eid al-Fitr holiday in the recent week, the UAE plate market as a whole is in a light state, and there are almost no overseas suppliers to the UAE to release the latest hot rolled steel coil export quotations, but market participants generally expect that with the recent weakening of the international steel market, especially the decline in China’s domestic steel prices, the UAE’s hot rolled steel coil import prices will also fall. On...

26Apr Steel News

Import Prices Of Long Steel in Southeast Asia Fell

Singapore rebar import prices continued to fall by $10-15/mt. On April 24, the assessment price of Singapore rebar imports was 600-615 USD / ton (CFR), down 10-15 USD / ton week-on-week. According to Singapore market news, the Singapore import rebar market continued to be light in the past week. At the beginning of this week, the mainstream export price of rebar from other Southeast Asian countries to Singapore was 615-620 USD / ton (CFR), and Singapore buyers were bidding below 600 USD / ton (CFR) for imported rebar. A Singaporean trader said that buyers continue to be mostly bearish on...

25Apr Steel News

Vietnam’s Hot Rolled Steel Coil Import Prices Remained Stable

Vietnam’s hot rolled steel coil import assessment price of $640-650/ton (CFR) on April 21 remained unchanged week-on-week. According to Vietnamese market news, the overall Vietnamese hot rolled steel coil market continued to be light last week, and buyers maintained a wait-and-see state. Last week, China’s SAE1006 hot coil to Vietnam’s mainstream export quotation was 640 USD / ton (CFR), unchanged from the previous week; Q195 hot rolled steel coil mainstream export quotation of 585 USD / ton (CFR), down 575 USD / ton (CFR) from the previous week; Last week, some Vietnamese buyers offered $575/mt (CFR) for China’s SS400 hot...

24Apr Steel News

Port Hedland’s Iron Ore Exports in March Increased By 17.9% Month-on-month

In March, iron ore shipments at Australia’s Port Hedland rose 17.9% year-on-year and fell 1.6% year-on-year, totalling 45,762,554 tonnes. Port Hedland shipped 40.41 million mt of iron ore to China that month, up 18.8% year-on-year and 2.3% year-on-year, according to information released by the Port Hedland Port Authority. Port Hedland handles production from mines owned by BHP Billiton, Atlas Iron and Fortescue Metals Group in Western Australia’s iron-ore-rich Pilbara region

23Apr Steel News

China’s Shipbuilding Production Down 4.6% in Q1

China’s Ministry of Industry and Information Technology (MIT) announced that China’s total shipbuilding production between January and March this year was 9.17 million deadweight tons (dwt), down 4.6% year-on-year.During the period, China’s new ship orders were 15.18 million dwt, up 53.0% year-on-year. As of the end of March this year, the book orders of China’s shipbuilding industry enterprises were 114.52 million deadweight tons, an increase of 15.6% year-on-year. In the first three months, China’s shipbuilding output and newbuilding orders accounted for 43.5% and 62.9% of the total global market, respectively. At the end of the first three months, Chinese shipbuilders...

21Apr Steel News

Ohio Pipe Manufacturer Opens New Plant in Mexico

Ohio-based Welded Tube today announced the opening of a new 55,000-square-foot facility in Monterrey, Mexico, which will begin operations in early 2024 with a focus on small-diameter, tight-tolerance tubes for the automotive industry. “Our customers are increasing their presence in Mexico and are asking us to continue to support their expansion and their commitment to OEMs,” Joe Frandanisa, president of Welded Tube lnc., said in a press release that we are listening to our customers’ needs and that our expansion in Monterrey will allow us to grow and strengthen ours relationship with them. The plant is breaking ground on a...

20Apr Steel News

Brazil’s Steel Consumption Is Expected To Decline in 2023

Brazilian Steel Association IABr has announced expectations that apparent steel consumption in Brazil will fall by 1.0% compared to 2022 to 23.2 million mt. The previous forecast published at the end of last year was 1.5% growth. Marco Polo de Mello Lopes, CEO of IABr, said that activity in Brazil’s two most important steel consuming sectors, civil construction and machinery and equipment, is decreasing, while the automotive industry will increase production, not necessarily solid growth, as it compares to last year’s low base. He mentioned that these three industries account for 82% of Brazil’s steel consumption. High interest rates, a...

19Apr Steel News

From January To March, The Industrial Output Of China’s Steel Industry Increased By 5.9%

According to the announcement of China’s National Bureau of Statistics NBS, from January to March this year, the added value and output value of China’s ferrous metal smelting and manufacturing industry increased by 5.9% year-on-year, and in March alone, the industrial added value and output value of China’s ferrous metal smelting and manufacturing industry increased by 6% month-on-month. At the same time, in the first three months of this year, the total output value of China’s industrial added value increased by 3% year-on-year, and the total industrial added value in March alone increased by 3.9% year-on-year and 0.12% month-on-month. It...

18Apr Steel News

Steel Plate Import Prices in South America Continued To Fall

Last week, the import price of plate in South America continued its downward trend, on the one hand, the overall demand was relatively sluggish, on the other hand, Chinese suppliers generally lowered the export quotation of plate to South America. At present, the freight from China to the Pacific coastal countries in South America is about 35-45 US dollars / ton, and the freight to Brazil is about 50-55 US dollars / ton. In terms of hot-rolled sheets, on April 14, the import assessment price of hot rolled steel coil in South America was 680-700 US dollars / ton (CFR),...

17Apr Steel News

Hot Rolled Steel Coil Prices Rose Slightly in The Midwest Of The United States

On April 13, the US Midwest hot rolled steel coil ex-factory price index was 1302.3 USD / ton, up slightly by 1.3 USD / ton week-on-week. According to the US market, the current delivery time of hot rolled steel coil orders in the Midwest region is 8 to 10 weeks. Recently, the mainstream steel mill Cleveland Cliff in the United States raised its hot rolled steel coil base price to 1433.3 USD / ton, but this price has not actually been traded, the vast majority of buyers are currently unwilling to accept the price of more than 1323 USD /...

14Apr Steel News

European Hot Rolled Steel Coil Prices Fell Slightly

On April 12, the factory price index of hot rolled steel coil in the Nordic region was 855 euros / ton, down 4.38 euros / ton week-on-week. According to Nordic market news, the Nordic hot rolled steel coil market this week is mainly light, suppliers release the latest quotations and buyers bid very little, most buyers believe that the current more feasible hot rolled steel coil factory transaction price of 830-860 euros / ton. At present, steel mills are generally more abundant in hand, so they still try to keep hot rolled steel coil quotations at a high level, some...

13Apr Steel News

The Import Price Of Hot Rolled Steel Coil in The Middle East Was Stable And Declining

The UAE hot rolled steel coil import assessment price on April 11 was $675-720/ton (CFR), unchanged week-on-week. According to UAE market news, at the beginning of this week, India’s hot rolled steel coil to the mainstream bid price of the UAE was $725/ton (CFR), down $15-25/ton from last week; Japan’s hot rolled steel coil to the UAE mainstream bid price of 715 USD / ton (CFR), down 20-25 USD / ton from last week, at the beginning of this week did not hear that the UAE market has imported hot rolled steel coil orders actually transacted. On April 11, the...

12Apr Steel News

Import Prices Of Long Products in Southeast Asia Fell

Singapore rebar import prices continued to fall by $15/mt On April 10, the assessment price of Singapore rebar imports was $630/ton (CFR), down $15/ton week-on-week. According to Singapore market news, at the beginning of this week, a long-process mainstream steel mill in Vietnam rebar to Singapore was quoted at a price of 640 USD / ton (CFR) according to the weight of the export; At the beginning of the week, some overseas traders to Singapore quoted a mainstream export price of $640/mt (CFR). Last weekend, a Singaporean buyer ordered a batch of 25,000 tons of rebar from a mainstream Vietnamese...

11Apr Steel News

Vietnam’s Hot Rolled Steel Coil Import Prices Continued To Decline Slightly

Vietnam’s hot rolled steel coil import assessment price on April 7 was 665-675 US dollars / ton (CFR), which showed a slight downward trend from 665-680 US dollars / ton (CFR) US dollars / ton in the previous week (mainly refer to 2-3mm SAE1006 rerolled grade hot rolled steel coil and similar products). According to Vietnamese market news, the actual transaction of Vietnam’s imported hot rolled steel coil market last week was not much, and the overall trend continued to be light, and the current market bearish sentiment is heavier, and buyers are mostly in a wait-and-see state. Last week,...

10Apr Steel News

The Production Of Argentina’s Auto Increases 26.1% in March

Argentina produced 61104 light commercial vehicles and sedans in March, an increase of 26.1% compared to February 2022 and 25.4% compared to March 2022. From February to March, automobile exports increased by 35.3% to 32420 vehicles, a year-on-year increase of 31.7% compared to March 2022. Domestic sales in March were 38027 vehicles, an increase of 26.4% compared to February and 12.6% compared to March. According to Martin Galdino, Chairman of the Adefa Association of the Automobile Industry in the country, the data obtained by the industry in the first quarter confirms the upward trend predicted for 2023. He added that...

06Apr Steel News

European Hot Rolled Steel Coil Prices Increase

On April 5, the factory price index of hot rolled steel coil in the Nordic region was 859.38 euros / ton, up 15.63 euros / ton week-on-week. According to Nordic market news, the Nordic hot rolled steel coil market in the first half of this week is actually light, the current Nordic steel mill on the hot rolled steel coil order psychological price is about 900 euros / ton, but buyers generally believe that such a high price is unacceptable, and the evaluation of the current hot rolled steel coil order more reasonable factory transaction price in 840-860 euros /...

06Apr Steel News

Import Prices Of Long Products in Southeast Asia Are Stable With Falling

On April 3, Singapore’s rebar import assessment price was US$645/ton (CFR), a week-on-week decrease of US$15/ton. According to market news in Singapore, some overseas suppliers quoted USD 645/ton (CFR) for rebar export to Singapore earlier this week, and the delivery date is June. A Singapore trader said that the demand for rebar in Singapore was still relatively sluggish in the latest week, but it was slightly better than the previous week. End-user rebar purchases on construction sites increased, but the current end-user rebar inventory is still at a high level. It is expected that by the end of April 5...

04Apr Steel News

CSN(Companhia Siderúrgica Nacional) Secured A $1.4 Billion Loan To Expand Mining Activities

Brazilian steelmaker CSN and its iron ore mining companion CSN Mineracao announced a $1.4bn economic mortgage with a group of banks led by using the Japan Bank for International Co-operation (JBIC). The time period of the contract is 12 years. The proceeds of the mortgage will be used to enlarge pellet feed grade iron ore manufacturing at the Casa de Pedra mine in the southeastern country of Minas Gerais, in accordance to CSN. The growth will consist of the development of a new iron sorting plant at the mine CSN delivered that the quit of the operation will rely on...

04Apr Steel News

Vietnam’s Hot Rolled Steel Coil Import Prices Continued To Fall

On March 31, Vietnam’s hot rolled steel coil import assessment price was 665-680 US dollars / ton (CFR), which showed a downward trend from 680 US dollars / ton (CFR) in the previous week (mainly referring to 2-3mm SAE1006 re-rolled grade hot coil and similar products). According to Vietnamese market news, last week’s export quotation of SAE1006 hot rolled steel coil to Vietnam was mostly 665-680 US dollars / ton (CFR), there was a Chinese mainstream steel mill at the end of April delivery period of SAE1006 hot coil to Vietnam export quotation of 695 US dollars / ton (CFR),...

03Apr Steel News

Ansteel’s Profit Decrease 97% For 2022

Liaoning Anshan Iron and Steel Co., Ltd. released its financial report for 2022, stating that its annual operating revenue was 131.072 billion yuan ($1.91 billion), a year-on-year decrease of 3.71%, and its net profit was 156 million yuan ($22.7 million)., A year-on-year decrease of 97.76%. In 2022, Angang Iron and Steel produced 26.23555 million tons of pig iron, crude steel, and steel, and 25.0838 million tons of crude steel, with year-on-year growth of 3.5%, 0.45%, and 1.14%. At the same time, the company’s sales of steel products reached 258.165 million tons, a year-on-year increase of 5.83%.

03Apr Steel News

India’s ArcelorMittal-Nippon Steel Will Obtain A $5 Billion Mortgage From A Consortium Of Japanese Banks To Increase Manufacturing Ability in Hazira.

Luxembourg-based steelmaker ArcelorMittal said it had agreed a $5 billion deal with Japanese banks, including the Japan Bank for International Cooperation. The mortgage agreement will provide loans to a joint venture between ArcelorMittal Inc. and India’s Nippon Steel Co. The agency will use the financing to expand the annual capacity of its Hazira metal plant from 9 million heaps to 15 million tonnes. In addition, the business will realize its potential to produce value-added metals for defense, automotive, infrastructure and other industries. The expansion, which began last October, will create more than 60,000 additional jobs. In addition, ArcelorMittal and Cooper...

31Mar Steel News

Second-half Steel Consumption in Vietnam Is Expected To Increase

Although the demand for steel in Vietnam has been slower than expected this year, with the country’s GDP expected to increase by 6.47 to 6.83% in 2023, there is a chance that it will pick up. The recovery of post-Covid civil construction activities and higher public infrastructure investment spending will both contribute to a rise in domestic steel consumption. Vietnam does, however, encounter difficulties, such as slower macroeconomic development, difficulty restructuring state-owned businesses and credit institutions, and the presence of bad debt. Vietnam confronts an oversupply of some steel products, including construction, cold-rolled, and galvanized steel, as well as a...

30Mar Steel News

Second-half Steel Consumption in Vietnam Is Expected To Increase

While Vietnamese steel demand has so far been slower this year, it has the potential to improve on the back of the country’s GDP growth forecast of 6.47-6.83% in 2023. Domestic steel consumption is expected to grow amid increased public investment disbursement on infrastructure and the recovery of post-Covid civil construction activities. Vietnam does, however, encounter difficulties, such as slower macroeconomic development, difficulty restructuring state-owned businesses and credit institutions, and the presence of bad debt. Vietnam confronts an oversupply of some steel products, including construction, cold-rolled, and galvanized steel, as well as a heavy reliance on imported raw materials and...

29Mar Steel News

Ukraine’s Steel Industry Will Only Recover Once Seaports Are Unblocked To Enable Exports

“Therefore, the group calls on the authorities, diplomats, and international partners of Ukraine to make every effort to open the sea to Ukrainian steel,” he says in an interview with Forbes. “The group speaks on behalf of the entire industry.” This will produce about $600 million in export revenue each month and preserve hundreds of thousands of jobs, which will increase the state’s economic power. If Ukraine is successful in opening the ports for the export of mining and steel products in addition to the current grain export corridor, Nikolayenko adds, the country’s steel industry has the potential to rapidly...

28Mar Steel News

The ASEAN Billet Industry Is Stagnant Due To Negativity

Since early last week, Chinese 3SP grade 150mm billet has been reported to be sold at $610/tonne cfr Manila. A trader in Manila claims that there are no buyers. Another person learned on Friday that Chinese 3SP 150mm billet was available for $605/t cfr. 5sp/ps or Q275 120/125/130mm square billet was evaluated at $610–615/t cfr Manila, down $10 on-week. According to a trader in Manila, “there is a confidence deficit in the market,” which prevents steel prices and demand from rising significantly. According to him, recent financial problems in the USA and Europe were a major factor in this. But he...

27Mar Steel News

Hyundai Steel Of South Korea Decreased Its Most Recent Bid Rates For Japanese Scrap On Friday

A reduction in the procurement price for H2 grade scrap trucked to Tokyo Steel’s Utsunomiya steelworks was revealed at the same time by the industry’s largest electric arc furnace operator. Prices were reduced by JPY 1,000/t to JPY 54,000/t as of March 25. Previously, it paid JPY 55,000/t from March 17 to 24. On March 10–16, its purchase price reached a recent high of JPY 55,500/t. Prior to this, prices remained at JPY 53,500/t from 10 February to 9 March.

24Mar Steel News

Brazil Rejects Request To Impose Anti-dumping Measures On Chinese HRC

For a maximum of five years, Brazil placed countervailing duties and AD measures on Chinese HRC in 2018. However, these were never used for the public interest considerations, which Brazil has made obligatory in anti-dumping or subsidy investigations as of April 2019. The trade chamber believes that the study of earlier public interest assessments has not revealed any material changes in the recent years of the suspension of such measures. Contrarily, Camex says, “alternative sources relevant to the Brazilian market, imports from China that became more significant relative to the total at the end of the analyzed period, and there...

22Mar Steel News

Egyptian Rebar Prices Continue To Rise

Market leader Ezz Steel has increased its ex-works domestic rebar price by 9.7% to EGP 32,135 ($922), with 14% VAT included. The prior price was EGP 29,285/t. In comparison to last week, mills’ new domestic market ex-works net rebar rates, which include 14% VAT, are EGP 32,050/t ($917) for Suez and Egyptian Steel (El Masryeen). Conversions to dollars do not include Egypt’s 14% VAT. Cash only, or within seven days of arrival. While banks trade at roughly EGP 30.85 per dollar, the black market exchange rate has hit EGP 35.8. The lack of foreign money has made Egypt’s economy difficult,...

21Mar Steel News

Export And Import Prices Of Turkish HRC Increased

According to Turkish market news, last week China’s May delivery hot coils were quoted at USD 730-735/ton (CFR) for Turkey’s mainstream exports, an increase of USD 20-25/ton from the previous week, and the actual transaction price of an order was USD 730/ton (CFR). Last week, Vietnam’s hot coil export quotation to Turkey was 730-740 US dollars / ton (CFR); last week, the Russian MMK steel mill’s hot coil export quotation to Turkey was 750 US dollar / ton (CFR). Last week, the mainstream export price of Turkish HRC was 840-850 US dollars/ton (FOB), which was 830-850 US dollars/ton (FOB) in...

20Mar Steel News

European Mills Increase Coil Costs Even More

According to reliable sources, ArcelorMittal increased its price hints this week by an additional €20/tonne ($21), raising HRC offers to €870/t ex-works for all of Europe and hot-dip galvanized tubing to €990/t ex-works base. This week, offers from import sources, like India, have increased once more, allowing European suppliers more room to increase their quotes. Additionally, sources point out that the availability of coils in Europe is still impacted by some production restrictions. At the end of February, Tata Steel declared force majeure at its Ijmuiden plant. It is believed that other European suppliers of cold rolled coil and HDG...

17Mar Steel News

HBIS Group Serbia Iron & Steel Will Restart Activities At Its Dormant Blast Furnace This Week

The company will reportedly run both blast furnaces, but one BF will be shut down for repairs in the summer. Due to a decline in the demand for steel products globally, the company shut down blast furnace No. 1 at its Smederevo works in July. It promised to restart the plant once conditions improved. With its two furnaces, the Smederevo factory has a capacity of about 2.2 million tonnes of steel per year, while No. 1 operates at a capacity of only about 900,000 t/y. The product line includes preserved coil, electrolytic tinplate, and hot and cold rolled coil. Between...

16Mar Steel News

This Week Is Quiet On The Hot Rolled Coil Market in The Gulf Cooperation Council

A re-roller purchased 10,000t of HRC in the SAE 1006 and SAE 1008 (re-rolling) grades from a Japanese firm last week for $730/t cfr Jebel Ali against a 90-day LC. This comes to $705–710 per ton cfr LC paid at sight. The Japanese multinational ceased selling HRC in the GCC market this week and is getting ready to float its new offers for end-May shipments. This will occur in late March or the beginning of April. A Chinese tier-two factory made a price offer to a tube manufacturer for 3mm+ S235JR grade at $720/t cfr Jebel Ali for shipments in...

15Mar Steel News

US Scrap Prices Rise Sharply in March

A mill in Detroit took the initiative and joined the market with a bid that was more than $100/gross ton higher than in February for busheling. Other mills in the area that bid for the same grade at lower levels—about $60–70/gt higher than in February—failed to obtain material as a result. Busheling costs last increased by $100/gt a year ago. HMS prices jumped by more than $30/gt, while Midwest shredded prices increased by $60/gt from February. In the South, price hikes for busheling and shredded products were $50/gt and $60/gt, respectively. Scrap prices have seen support from exports, improved order...

14Mar Steel News

India Is Not Considering Re-imposing Steel Export Duties

“Although input prices have slightly increased from their lowest levels, which were reached about four to five months ago, the situation has not reached a level where one could contemplate an increase in export duties, which was taken about three quarters ago,” Sinha said on the Economic Times’ ET Now program. The secretary noted that the ministry is keeping an eye on the cost of both steel and raw materials. Sinha also stated that the government is not selling any of its holdings in NMDC. “Of course, we intend to strategically sell Nagarnar Steel, which has since been separated from...

13Mar Steel News

Iron Ore Prices Are Expected To Return To Below $100/t By The End Of The Year

The research firm claims that the market may receive short-term support from the most recent measures revealed by the Chinese government to encourage property lending. Steel production should increase in the future months as a result of higher margins and low inventories. In the near term, this should support prices, according to the research firm. However, it claims that this year’s steel demand will continue to be hampered by the absence of a sustained improvement in new housing starts. It also states that resolving supply-side problems will make the situation worse. Overall, it anticipates an improvement in the iron ore...

10Mar Steel News

Mexico Reviews Countervailing Duties On Chinese Welded Pipes

The removal of duties, according to Mexican businesses Forza SPL, Pytco, and Tubera Laguna, would have a negative effect on domestic production, according to a report published in the nation’s Official Gazette of the Federation (DOF) on March 7. For imports of materials from Tianjin United SteelPipe and Tianjin Huilitong Steel Tube, the countervailing duty was originally set at $0.506/kg and $0.537/kg, respectively. While entries from Huludao City Steel Pipe Industrial were subject to $0.356/kg duty, Tangshan Zhengyuan Pipeline, Tianjin Youfa Dezhong Steel Pipe, Tianjin Youfa Steel Pipe Group, and other Chinese firms were subject to $0.618/kg duty. The product...

09Mar Steel News

GCC Exports Billet To Turkiye

Turkey has made several inquiries about billets, and Jindal Shadeed in Oman, Emirates Steel in the United Arab Emirates, Qatar Steel in Qatar, and Hadeed in Saudi Arabia have all gotten these inquiries and are getting ready to provide quotes. While there have been no actions taken to remove Turkey’s import duty on rebar and billet, this week’s softening of rebar and billet quotes has made it challenging for mills in the bloc to assess the Turkish market. While Iranian-origin billet is available at $625-635/t cfr depending on tonnage, the Omani mill is reportedly aiming $625-635/tonne fob, translating to $675-680/t...

08Mar Steel News

Spanish Rates For Scrap And Rebar Rise

In the final days of February, the majority of the big mills raised their purchase prices by nearly €15/tonne ($16.01) for all categories, according to a local source. “Only bids for the E1 grade went up this week by €25/t. In the upcoming days, it is anticipated that the other characteristics will rise by an average of €15/t, following this rise.” Another market participant claims that despite manufacturers’ lower production and the slowdown, demand for new E8 quality continues to increase. In Spain, demolition-quality grade E3 and E40 scrap are currently being sold for €405/t and €440/t, respectively, both shipped....

07Mar Steel News

Induction Furnace Billet Is Becoming More Popular Among Filipino Re-rollers As A More Affordable Option Than Blast Furnace And EAF Billet

Vietnamese induction billet is rumored to have recently been sold by a Chinese dealer for $622–623 per ton cfr Manila. Traders claim to have seen a fast offer for Thai 130mm induction furnace billet for March shipment in the 3sp grade at $610/t cfr and the 5sp modified grade at $620/t cfr, both for 5,000t. There are still a number of Chinese billet position goods available. On Friday, it was reported that a 10,000t cargo of Chinese Q275 150mm for an April shipment was scheduled at less than $625/t cfr Manila. Additionally, a trader was seen advertising 130mm/150mm Q235 billet...

06Mar Steel News

Turkish Mills Agree On Pricing And Ensure Supply For Reconstruction

On February 1, rebar was selling for about $710 per tonne ex-works, but since then, scrap values have risen by more than $30 per t. The Turkish Mass Housing Development Administration (TOKI) and Turkish mills will convene on March 7 to discuss specifics. When reconstruction gets going, it’ll probably dominate the local rebar market for a while. Not only in the towns affected by the earthquake of February 6 but also in other earthquake-prone regions, reconstruction is anticipated. Last week, Turkish manufacturers raised their rebar prices even further, but domestic market activity slowed and exports stopped altogether (see separate story)....

03Mar Steel News

Saudi Sharp Steel Tariff Cuts Confuse Markets

On March 1, clearing agents notified buyers of hot rolled coil and billet that the import duties on each had been decreased from 15% to 10% to 5%. When the parties wished to go into more detail about the reduction, they got conflicting reports, and the authorities said it might have been a system glitch. A buy-side source adds, “I was surprised when my clearing agent told me the customs duty for HRC was reduced to 5% from 15%. I then went on to verify this on the ZATCA website. “Imports will flow into the nation if this is not a...

27Feb Steel News

At IJmuiden, Tata Steel Nederland Declares A Force Majeure

A broader dimensional window for its high-strength steels was one of the goals of the upgrade, which got under way in August of last year. Another goal was to improve surface quality and gauge control. But as stated in a note, “severe and unexpected challenges have resulted in an extended commissioning period, placing extreme strain on the IJmuiden supply chain.” The business has notified its clients that it will not be able to meet its supply commitments, but it promises to keep working to minimize any interference with clients’ business operations.

24Feb Steel News

Turkish Rebar Costs Increase Due To The Domestic Market

Additionally, this has led scrap suppliers to raise their rates and withdraw from the market. Since the beginning of the week, some rebar producers have stopped selling rebar in both the domestic and export marketplaces. At first, they want to know how much waste will cost. Rebar is being offered at $740–750/tonne fob actual weight in the export markets on Thursday by those who are maintaining sales open. Meanwhile, quotes for mesh-quality wire rod ranged from $750-760/t piece. Although the export demand is still insufficient, Turkish factories are not currently focusing their attention on exports. Some market participants even contend that...

23Feb Steel News

World Steel Output Remains Weak

With 145.3 million tonnes produced, crude steel production in the 63 nations tracked by worldsteel was down 3.3% from a year ago but up from 140.7 million tonnes in December. In China, the estimated production for January increased 2.3% year over year to 79.5 mt after dropping to 77.89 mt in December. Ahead of anticipated higher demand in Q2, Chinese factories have been stepping up production. However, production was declining in other parts of Asia. India’s 10.9mt production fell just 0.2% year over year in January. South Korea’s production fell 9.8% to 5.5 mt, while Japan’s output fell 6.9% to...

22Feb Steel News

EU Coil Prices Face Uncertainty

Several mills have reportedly adopted ArcelorMittal’s hot-rolled coil price announcement of €820/t ($877), according to a Dutch service center buyer. According to him, delivery timeframes of now 4-5 months and growing import prices from Asia are arguments in favor of mid-term stability. Yet, a Swiss dealer warns that imports can have the opposite effect. Low pricing up until December prompted orders from India that will come later in the spring coupled with unsold volumes that are available for the market. He contends that if purchasers are reluctant to purchase here due to the real demand still being weak, the material...

21Feb Steel News

Billet Import Prices in Southeast Asia Have Quickly Bounced Back

Blast furnace billet import bookings continued through early last week at less than $600 per ton ex-Manila. Open-origin ASEAN/Chinese 3sp/5sp 150mm billet, according to a buyer in Manila, was reserved for $590-595/t cfr. A shipment of China 3sp grade billet that was transacted last week at $585/t cfr caused some market jitters. But, regional and Filipino traders claim they were unable to verify the agreement with customers. During the week ending February 10, position shipments of regional 5sp grade billet had reached a conclusion at $595/t cfr Manila. A Thai dealer learns that 15,000 tonnes of regional 5sp grade billet...

20Feb Steel News

Taiwanese Scrap Prices Fall On Increasing Supply

The price for containerized US-origin HMS 1&2 80:20 was $420/t cfr Taiwan, which was unchanged from the previous week. Deals were, however, reported earlier this week for $415/t cfr Taiwan. According to a scrap merchant in Taiwan, this week’s prices could drop as low as $410/t cfr. Last week, several reservations were made at $420/t cfr, but local Taiwanese customers no longer accept rates greater than $415/t cfr. The earthquake has had a substantial influence on Turkey’s scrap demand, and Taiwanese scrap buyers are reexamining the supply and demand structure. According to a Taiwanese scrap recycler, “the market is waiting...

17Feb Steel News

Bahrain-based Sulb Sections Are Free From Import Taxes in Saudi

The buyers have received an email informing them that they are exempt from issuing a payment guarantee or paying import duty until June 2023. This exemption will be revalidated depending on the resubmission of the necessary reports. Sulb-Bahrain submitted the documentation to Saudi ZATCA through the Bahraini local ministry after undergoing external auditory certification for localization, place of origin of raw materials, etc. As Sulb-Bahrain has been recognized for compliance, the buyers won’t be required to pay import duties. Singh says, “We thank the government of Bahrain and Saudi Arabia, and in particular, the ZATCA authorities, Bahrain Chamber of Commerce,...

16Feb Steel News

Poland Scrap Traders Replace Turkish Market With Exports To India

Exports to Bangladesh increased 158% to 144,326t, while shipments to India witnessed an unusually significant increase, from 56,364t to 236,225t. Nevertheless, shipments to Pakistan decreased by 25% to 137,132t. Turkey, historically the greatest destination for scrap exports, had a two-thirds decrease to 176,742t. Nevertheless, the overall volume of Poland scrap exports fell 22% to 2.09 million tonnes during January to November 2022. Polish coking coal exports, meanwhile, fell 39% to 1.67 million tons between January and November 2022, as a result of halved shipments to Ukraine and about 500,000 tons less shipped to the Czech Republic. Polish crude steel production...

14Feb Steel News

In Spite Of The Euro-dollar Instability, Indian HRC Export Offers Gains

10,000 tonnes of structural grade HRC were sold last week by a tier-1 Indian mill to Italy and Antwerp for $800–805 per tonne cfr, netting out to $75–760 per t for shipment in end-March or early April. When the USD/EUR exchange rate was at 1.10 last week, European buyers accepted this offer, and India considered no marginal loss in EUR realisations, according to a source. The majority of European purchasers have already completed their restocking, thus it is tough for Indian vendors to consider any raise after this agreement. Indian HRC proposals have increased this week to $810–815/t cfr Europe,...

13Feb Steel News

The Anti Dumping Committee Of Indonesia This Week Launched A Sunset Review Investigation On Hot Rolled Coils

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,...

10Feb Steel News

Last Week, The Southeast Asian Billet Import Market Gained Traction

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...

09Feb Steel News

Prices For Hot Rolled Coils in The Gulf Cooperation Council Are Falling, Especially For Those With Chinese Origin

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...

08Feb Steel News

Last Week, The Southeast Asian Billet Import Market Gained Traction

07Feb Steel News

Saudi Stainless Steel Seamless Pipe Manufacturing Project Started

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...

06Feb Steel News

GCC Mills Commit To Exporting Billets

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...

03Feb Steel News

Italian HR Plate Prices Rose Again Slightly

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.

02Feb Steel News

Russian Copper Company To Invest $1 Billion in Kazakhtan Factory

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...

01Feb Steel News

India Considers Raising HRC Due To Favorable Domestic Opinion

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...

31Jan Steel News

Iron Ore Remains Stable After China’s Return

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....

30Jan Steel News

Mexico Has Prolonged A Countervailing Tariff On Imports Of Wire Rod From China For A Further Five Years.

This is in accordance with a document from the Ministry of Economy that was released in the DOF on January 19. On July 28, 2016, the compensatory quota was first put into effect. The reduction of levies would have a severe impact on domestic production, according to Deacero, Ternium, and ArcelorMittal, who filed a complaint with Mexico’s Secretary of Economy (SE). For Chinese wire rod imports, SE maintains a compensation quota at $0.49 per kilogram. HS codes 7213.10.01, 7213.20.01, 7213.91.03, 7213.99.99, 7227.10.01, 7227.20.01, and 7227.90.99 apply to the products under investigation.

29Jan Steel News

As China Relaxes Its Prohibition On Australian Imports, Coking Coal Prices Rise.

The week ended January 20 saw an upward trend in seaborne coking coal prices as mood improved following China’s relaxation of its ban on Australian coal. The rebound trend is in line with rising iron ore prices in China, which remained above $120/t CFR China for 62% Fe last week. Last week, premium hard coking coal was priced at $329.53 per tonne FOB Australia, up $20.46 from $309.07 per t the week before. Premium Coking Coal Futures for February on the Singapore Exchange closed at $332.33/t on Friday, up from $308.5/t just a week earlier.

28Jan Steel News

ArcelorMittal Raises The HRC Offer Prices in Europe

According to reports, the supplier is currently supplying HRC to clients in Western Europe for €780 per tonne ($848), while clients in Eastern Europe are offered HRC for €800 per t ($900) delivered. These prices apply to fresh orders that will be fulfilled in March. The action was hotly anticipated in the market in recent weeks and is likely to provide spot transaction prices another lift as they continue to improve. Transactions reached their lowest point at €650/t in mid-November 2022, according to the northern European HRC index, and have since increased by €80/t. The improvement seen over the past...

17Jan Steel News

Export Prices For Japanese Scrap Have Increased.

Tight lending restrictions in Vietnam continue to harm the steel industry. Sangyo Shinko received 6,000 tonnes of H2 grade scrap in the most recent tender, which began on January 12, at a price of JPY 51,030 per tonne ($388/t), while JFE Shoji received 5,000 tonnes for a price of JPY 50,815 per t. The average bid was JPY 50,932/t fas (around JPY 52,000/t fob), which is JPY3,364/t more than the previous tender from December. After the tender, market sources in Vietnam are awaiting further bids for Japanese H2 scrap. Wednesday saw the most recent bids at $425/t cfr Vietnam. According...

14Jan Steel News

In 2023 The Carrying Capacity Of The Eastern Test Site Is Planned To Increase By 9.5%

During the implementation of the main infrastructure modernization and expansion plan in 2022, the total transportation volume of BAMA and Trans-Siberia to the east will reach 158 million tons. This is a huge challenge. In 2024, the transportation capacity of Eastern Polygon is planned to increase to 180 million tons. According to the Russian Government Information Service, there are about 3 million tons per year. “Some of the facilities in the second phase of the development of the Eastern Polygon were put into operation ahead of schedule, and the infrastructure in the first phase of the development of the Eastern...

13Jan Steel News

HRC Price Increase Makes GCC Buyers More Conservative – 1

Buyers of HRC in the GCC are apprehensive and concerned about a price decline. Due to a sharp and unexpected price decline in the third quarter of 2022, their hands were burned, says a trader. “This time, buyers are more cautious when it comes to closing purchases.” Major Indian mills have reportedly stopped making offers as they assess how sustainable the price increase is and wait for the European HRC market to stabilize. Some are aiming for fob prices this week that are $5–25/t higher than their cfr GCC bids from the previous week. A tubemaker reached an agreement with...

12Jan Steel News

HBIS Serbia Steel Logistics Bid Won By Ukranian Transit Company

500,000 tonnes worth of cargo will be moved this year. He continues by saying that HBIS Serbia does not completely rule out a rise in transportation volumes. In Moskalenko’s words, “securing such a contract provides the UDP fleet with stable operation throughout 2023.” “Since the tender was held among the top Danube shipping companies, the battle was not simple. UDP put a lot of effort into winning and persuaded the partners to agree to favorable conditions. This win demonstrated the complete economic justification for fleet development and modernization. The general director adds, “So this year we are devoting all our...

06Jan Steel News

European Hot Rolled Steel Coil Merchants Watch For The Appearance Of Fresh Import Offers

On January 5, prices for European Hot rolled steel coil remained constant as market participants continued to watch and wait in the absence of many domestic or imported offers. North European Hot rolled steel coil was rated unchanged by Platts for the day at EUR 700/mt ex-works Ruhr. The minimum price level for January trading was usually thought to be Eur700/mt ex-works, while mills are apparently mulling higher prices given the robust restocking activity in December. The buy-side is still worried that increases are not fundamentally underpinned, though. Although it’s acceptable to be bullish, a distributor noted that this price...

03Jan Steel News

China Revised The Import Duty On Coking Coal

From April 1, 2023, the import duty rate on coking coal will be 3%. The Chinese government has decided to review import duties on coking and thermal coal to support domestic producers. SteelOrbis reports about it. Sxcoal writes that, China will maintain a zero import duty on coke in 2023. Its imports to China may increase next year as production in Indonesia and other Southeast countries is expected to increase. As GMK Center reported earlier, steel companies of China in January-November 2022 increased imports of coking coal by 21.5% compared to the same period in 2021 – up to 57.37 million tons. In November, the country...

03Jan Steel News

Turkiye Steel Industry Will End 2022 With A Drop in Production By More Than 13%

The main reasons for the decline in steel production are low demand and high energy costs. “2022 started with high hopes after the 13% increase in steel production in Turkiye in 2021. We had no reason not to expect more than 10% output growth this year. Consumption at the beginning of the year was brisk, the country’s production capacity was adequate, and market conditions were positive until February, when Russia invaded Ukraine. Now the market has changed and it is difficult to guess when the war will end,” he said. In November 2022, Turkiye became the country with one of...

20Aug Company Daily Life

Company Badminton Competition And PPGI

In order to enrich employees’ spare time, enhance their physical fitness and teamwork spirit. Our company organized a badminton match on August 20, 2020 in Tian Badminton Hall. At the organization stage of the event, all departments and offices of the company actively registered. As of August 20, a total of 10 employees participated. , Women’s doubles teams and mixed doubles teams appeared in this doubles competition, making the doubles competition even more exciting. After the game, everyone felt that the ability to hold such an event outside of work not only enriched the work and life of the employees,...

18Jun Company Daily Life

Happy Birthday！

In order to create an atmosphere of mutual love, communication, and promotion of the company’s corporate culture, at noon on June 17th, all the people gathered together to light the birthday candles, sing the birthday hymn, celebrate Rojick Law’s birthday, and send it to us best wishes! At the meeting, Rojick Law expressed deep emotion and expressed his enthusiasm for the company’s work, and hoped that the epidemic could be fast, the prospects were good, and good luck! The company has grown stronger, this move has infected everyone present and actively mobilized everyone’s work enthusiasm. A seemingly small birthday event...

08Jun Company Daily Life

China Export&Credit Insurance Training

Last week, the company organized a CITIC training to avoid business risks and stop losses in a timely manner. In fact, looking back now, whether it is developing customers or avoiding risks, you can use the tool of credit insurance. Export credit insurance is a special policy measure that provides risk protection for enterprises’ legal rights (debt rights) in economic activities such as export trade, foreign investment, and foreign project contracting by underwriting commercial credit risk and national political risk. Simply put, it is to protect your export foreign exchange collection risk. What exactly is the export foreign exchange collection...

29May Company Daily Life

Running Competition

In order to welcome the arrival of Children’s Day on June 1st, strengthen the physical training of employees and improve the physical fitness of employees, Runfei Steel Group held a long-distance relay race around the lake in the early morning of May 29th. The game is scheduled to start at 8:30 in the morning. At the beginning of the game, the athletes rushed out like arrows, they are all sturdy and determined, and the female athletes are all brave and heroic. This game triggered the climax of the atmosphere of the stadium. The competition ended with the hard work of...