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...

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...

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),...

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%.

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...

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...

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...

“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...

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...

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.