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Rebounding to the 2nd highest in over two years, November Chinese steel exports jumped 6.3% to million tonnes (mt) from 3.79 mt in October. We believe… more.
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AK Steel announced a $30/ton sheet price increase today on the heels of Nucor’s leading $20/ton hike yesterday. The higher price is most probably reflective of a surge in orders …more
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The number of active oil and natural gas rigs in the United States fell again this week – declining by 11 to a 19-month low of 1,800 for the week ending December 7, 2012 – down 0.6% from last week and 9.4% from a year ago.
The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.
The number of rigs in Canada rose for the fourth consecutive week – up 1.8% to 406 from 399 last week, but 19.4% below the year-ago level.
The highest rig count for Canada was 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.
Source: Baker Hughes Inc.
HRC lead times rose again for the week ending December 2 to a three-month high of 3.9 from last week’s 3.5 and 3.1 two weeks ago.
HDG lead times also rose – coming in at a 14-week high of 6.6 weeks from 6.3 in the week prior. CRC lead times posted the lone decrease, falling to 6.0 from last week’s 11-week high of 6.4.
Sources: The Steel Index, Steel Business Briefing
HRC = Hot Rolled Coil CRC = Cold Rolled Coil HDG = Hot Dipped GalvanizedSteel Market Production Increases – ArcelorMittal is reportedly planning to re-start the blast furnace at the Gijon facility in early 2013, after reaching a new three-year agreement with the local unions.
Steel Market Production Increases – Russian steelmaker NLMK will resume production at the La Louviere rolling mill in Belgium and will keep it operating for 7 days while attempting to negotiate with the unions on a restructuring agreement.
Steel Market Production Cuts – Italian steelmaker Acciaierie di Calvisano has halted operations at the company’s 400,000 tpy billet plant for a scheduled upgrade, which should be completed by January 10, 2013.
Steel Market Production Increases – E&H Tubing Inc. is planning to use the former assets of Indiana Steel & Tube to manufacture steel tubing and is beginning to ramp-up the established facility with one shift of workers already hired.
Sources: Steel Business Briefing, American Metal Market
New Report Preview:
According to just-published data from American Metal Market (AMM), November prices for #1 busheling (prime) settled flat at $390/ton, while shredded fell a nominal $1/ton …more
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Steel Market Production Cuts – Esmark Steel Group had originally planned to re-start the cold-rolled mill at the former RG Steel Yorkville facility in January, but has now pushed the start date back to March or April due to concerns over environmental liabilities.
Steel Market Production Increases – China-based Wuhan Iron and Steel Co (WISCO) has begun production at the company’s new hot-rolled pickling line, with capacity expected to reach 300,000 tpy in 2013.
Steel Market Production Cuts – Egyptian Iron & Steel Co. is suffering from a shortage of coke due to “technical problems” at its supplier and has been forced to reduce production from 1.2 mtpy to about 0.5-0.6 mtpy.
Steel Market Production Increases – ArcelorMittal has restarted the coil-coating lines at the Liege facility in Belgium after a week-long stoppage due to a strike.
Sources: Steel Business Briefing, SteelOrbis, American Metal Market
New Report Preview:
Our Advance/Decliner Index fell from last week’s levels, driven by our China Index which fell for the fifth straight week as still buoyant production levels – averaging 1.95 mtpd …more
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New Report Preview:
November steel import licenses dropped 6.0% from October levels to 2.3 million tonnes, driven by meaningful declines for key products such as hot-rolled sheet (-26%) …more
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Steel Market Production Increases – Italian steelmaker Ilva has received authorization from a governmental decree to resume production at the 11 mtpy Taranto facility, according to the environmental plan that was issued to the facility in late October. The plant will resume production on Friday, after a week-long idling as a sign of respect to a worker that died in a storm-related accident last Wednesday.
Steel Market Production Increases – Russian steelmaker TMK plans to commission a 900,000 tpy EAF at its Tagmet facility by mid-2013, replacing three open hearth furnaces with a combined capacity of 600,000 tpy. Later in 2013, TMK will also commission a 600,000 tpy seamless pipe mill at the Seversky facility.
Steel Market Production Increases – Chinese steelmaker Baotou Iron and Steel said that it is close to completing the upgrade of the No. 2 rolling line at its rail and beam facility, which will raise capacity to 1.5 mtpy.
Steel Market Production Increases – Chinese steelmaker Shaogang has begun trials of the company’s new 670,000 tpy round bar rolling mill in southern China, with an additional mill for small-diameter bars set for commissioning by year-end.
Sources: Steel Business Briefing, SteelOrbis
