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Important points from recent company investor calls, including Rio Tinto, BlueScope Steel, Usiminas, BHP Billiton, Vallourec and TMS International include: …more
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Despite iron ore prices hitting multi-year highs, just-settled February scrap prices declined $10/ton for prime and $9/ton for obsolete, according to data from AMM…more
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For the week ending January 26, 2013, weekly domestic raw steel production fell 0.9% to 1.806 million tons (mt) – but is up 7.6% from the recent low of 1.679 mt for the week of October 27, 2012.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.
Capacity utilization came in at 75.4%, down from 76.1% last week and from the year-ago level of 77.6%.
The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
Source: AISI and Steel Market Intelligence
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Our Advance/Decliner Index declined from the two-year high recorded the week before, but remained at a high level. Our China Index fell…more
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For the week ending January 12, 2012, weekly domestic raw steel production rose 3.6% to 1.819 million tons (mt) – the largest jump since December 2011, and is up 8.3% from the recent low of 1.679 mt for the week of October 27, 2012.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.
Capacity utilization came in at 75.9%, up from 72.6% last week but down from the year-ago level of 77.6%. AISI recently revised their total capacity number for 1Q13 to 30.8 million tons from 32.7 in 4Q12 and 32.3 in 1Q12.
The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
Source: AISI and Steel Market Intelligence
Steel Market Production Increases – Chinese steelmaker Baosteel has begun constructing the 50,000 tpy “first phase” of its precision steel wire facility in Jiangsu and expects it to come online in March. The eventual “second phase” will add another 100,000 tpy of capacity bring the facilities planned total capacity to 150,000 tpy.
Steel Market Production Cuts – Mexican steel company AHMSA has idled the hot-rolling mill at its Monclova facility for 9 days to scheduled maintenance.
Sources: Steel Business Briefing, SteelOrbis
Steel Market Production Increases – Turkish steelmaker IDC commissioned a new 400,000 tpy medium sections mill on January 3.
Steel Market Production Cuts – Hungarian steelmaker Dunaferr has plans to idle one of its two blast furnaces, or roughly half of its 1.7 mtpy crude capacity, for at least a year of maintenance starting in mid-January. Dunaferr has also closed the rolling lines at its Lorinci plate mill and is said to be mulling a permanent closure.
Steel Market Production Increases – Croatian steelmaker Adria Steel will restart its 200,000 tpy EAF in mid-January and will produce billet for its rebar rolling line.
Sources: Steel Business Briefing, SteelOrbis
Steel Market Production Increases – Venezuelan state-owned steelmaker SIDOR re-started one of the two blast furnaces at its slab mill after being idled for 25 days because of a limestone shortage and is using the output to produce rebar.
Steel Market Production Cuts – Chinese steelmaker Shandong has been ordered by the Chinese government to cut crude capacity by 14.9 mtpy and finished capacity by 22 mtpy over the next three years.
Steel Market Production Increases – Chinese steelmaker Shougang has fired the furnace at a new 1.1 mtpy wire rod mill and plans to begin production in mid-January.
Steel Market Production Cuts – Egyptian steelmaker Ezz halted production at the 1.3 mtpy Suez HRC facility on Tuesday due to a strike and will resume production once the dispute is resolved.
Sources: Steel Business Briefing, American Metal Market
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After falling 0.8% in early December, Chinese steel production estimated by the China Iron & Steel Association (CISA) for the second 10 days of December declined another …more
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