Steel Market Production Increases – French pipemaker Vallourec is planning to increase production to 50% of capacity at the new 500,000 tpy OCTG mill in Ohio and 40% of capacity at its 300,000 tpy Vallourec Sumitomo do Brasil facility in Brazil.
Steel Market Production Increases – Korean steelmaker Posco commenced production at a new 450,000 tpy hot-dip galvanized coil line at its Shunde facility in southern China on November 3.
Sources: Steel Business Briefing, American Metal Market
The number of active oil and natural gas rigs in the United States rose by 6 to 1,806 for the week ending November 9, 2012, up 0.3% from the previous week but down some 10.4% 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 fell 3.5% to 370 from 383 last week, and was 26.0% 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 for the week ending November 4 moved down slightly to 3.2 from last week’s levels of 3.3.
HDG lead times came in at 5.4 weeks for the fourth week straight while CRC lead times posted the lone increase rising to 6.0 from 4.9 in the week prior.
Sources: The Steel Index, Steel Business Briefing
HRC = Hot Rolled Coil CRC = Cold Rolled Coil HDG = Hot Dipped GalvanizedSteel Market Production Increases – Brazilian steelmaker Gerdau hopes to resume production at the 600,000 tpy Sayreville, NJ plant by next week or sooner. The facility had lost power due to Hurricane Sandy, but avoided any damage and is in the process of being restarted.
Steel Market Production Increases – Korean HRC producer Hyundai Steel will increase hot strip capacity by 2 mtpy to 5.5 mtpy at the Dangjin facility, bringing the mill’s total HRC capacity to 10.3 mtpy by June 2013.
Steel Market Production Increases – Indian company Tata Steel is increasing sheet and coil capacity at the Jamshedpur facility from 6.8 mtpy to 10 mtpy by year end.
Steel Market Production Increases – Ukrainian steelmaker Industrial Union of Donbass aims to increase output of the Alchevsk subsidiary in November by 7% for rolled steel and 10% for crude, to 330,000 tpy and 365,000 tpy respectively.
Steel Market Production Cuts – Indian steelmaker Sail has backtracked on the previously reported plan to increase crude capacity to 24 mtpy by March 2013, and has reduced expectations to 18 mtpy. Current capacity is about 14 mtpy and the company still plans to reach 24 mtpy eventually.
Sources: Steel Business Briefing, American Metal Market, SteelOrbis
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