Posts Tagged: ‘steel prices’

U.S. Rig Count Falls Further, Canada Rises Again

September 21, 2012 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell by 5 to 1,859 for the week ending September 21, 2012, down 0.3% from the previous week and 6.6% below the year-ago level – remaining at the lowest level since June 2011.

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 increased for the third consecutive week, rising 2.5% to 363 from 354 last week, but remained some 28.1% 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.

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Steel Market Production Changes – September 21, 2012

September 21, 2012 Posted by Steel Market Intelligence

Steel Market Production Increases – Mexican steelmaker Ternium announced that production will begin in July 2013 at the greenfield 1.5 million tpy cold-rolling mill and 400,000 tpy hot-dipped galvanizing mill in Pesquería, Nuevo León.

Steel Market Production Cuts – Russian steelmaker Mechel announced that operations at the 810,000 tpy Romanian billet plant – Otelu Rosu – will be suspended indefinitely, beginning in October.

Steel Market Production Increases – General Steel Holding announced a plan to begin construction “within the year” on a 900,000 tpy rolling mill at the Longmen JV facility in central China. The current crude steel capacity of the facility is about 4 million tpy.

Steel Market Production Increases – Construction on Evraz’s 410,000 tpy Kostanay rebar rolling mill in Kazakhstan is approximately 30% complete and is expected to begin production in mid-2013.

Steel Market Production Increases – Libyan Iron & Steel Co (LISCO) announced that production at the Misurata hot-strip mill was restarted at the end of last month. LISCO has capacity for 580,000 tpy of HRC, 140,000 tpy of CRC, 80,000 tpy of HDG and 40,000 tpy of color-coated coil but according to Platts, “it is unlikely that all the lines are working and at full capacity.”

Sources: Steel Business Briefing, SteelOrbis, American Metal Market

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Join Our Steel Equity Researchers Group on LinkedIn for Equity Analysis

September 21, 2012 Posted by Steel Market Intelligence

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Steel Market Production Changes – September 19-20, 2012

September 20, 2012 Posted by Steel Market Intelligence

Steel Market Production Cuts – JFE Steel, Japan’s largest plate producer, announced a 20% production cut for commodity and ship plate production by 20% from October through December; JFE produced about 4.41 mt of plate in 2011.

Steel Market Production Cuts – ArcelorMittal halted production at its Gijon plate mill on September 14 and its Aviles hot-strip mill on September 17. The company expected to re-start both mills today but had to push it back due to a one day strike by all of their Spanish workers.

Steel Market Production Increases – Chinese steelmaker Hanzhong Iron & Steel Group Company, Ltd ordered a new 600,000 tpy wire rod mill that is expected to become operational in early 2013.

Steel Market Production Increases – Mexican steelmaker Tubacero announced plans to build a 200,000 tpy spiral-weld pipe mill in Monterrey that is scheduled to begin production in the second quarter of 2013.

Steel Market Production Increases – Adria Steel, a Croatian rebar mini-mill, plans to re-start a 200,000 tpy meltshop by the end of October. The company hopes this will increase the efficiency and production of its rebar rolling process as the company will no longer have to import billet.

Steel Market Production Increases – Turkish pipemaker Ozbal doubled the production capacity of its new spiral-welded pipe mill – that came on line in March 2012 – to 150,000 tpy.

Sources: Steel Business Briefing, SteelOrbis, American Metal Market

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Lead Times Drop for All Sheet Products; HRC at 2-Month Low

September 20, 2012 Posted by Steel Market Intelligence

HRC lead times for the week ending September 16 moved to an eight-week low of 3.1 weeks from 4.1 in the previous week, with some sources reporting lead times of 2 weeks.

Lead times for HDG also moved down to 5.6 from last week’s level of 6.2 weeks, while CRC lead times fell to 6.2 from 6.4 in the previous week.

Sources: The Steel Index, Steel Business Briefing

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August Global Steel Production Posts Larger-than-Normal Drop; Korea Finally Showing Sharp Decline

September 20, 2012 Posted by Steel Market Intelligence

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August average daily steel production declined 3.9%, much more than the normal seasonal drop of 1.0%, as Chinese production – which had been rising while the rest of the …more

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Domestic Mills Cut Rebar and Beams by Less than Scrap

September 19, 2012 Posted by Steel Market Intelligence

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Domestic mills reduced rebar and beams by $15/ton effective immediately, by offsetting the $28/ton scrap surcharge with a $13/ton base price increase, while mills cut …more

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August Flat-Rolled Distributor Inventories Drop Again – Shipments Post First Y-o-Y Decline in Nearly 3 Years

September 19, 2012 Posted by Steel Market Intelligence

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The MSCI August report held good news and bad news. Inventories for flat-rolled are continuing to decline, completely negating the view that flat-rolled pricing strength …more

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Categories: Stainless Steel, Steel Distribution, Steel Market, Steel Prices

Advance/Decliner Index Snaps Four Weeks of Declines on Strengthening Chinese Prices

September 19, 2012 Posted by Steel Market Intelligence

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Our Advance/Decliner Index increased for the first time in five weeks, after falling to an eight-week low. The uptick was mainly driven by rebounding Chinese …more

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Steel Market Production Changes – September 18, 2012

September 19, 2012 Posted by Steel Market Intelligence

Steel Market Production Cuts – The details of yesterday’s directive received by Italian steelmaker Ilva – from the court of Taranto – were made public today. Ilva will have to decommission two blast furnaces (No. 1 and No. 5) and its No. 1 BOF will be closed. The No. 2 BOF will be upgraded along with a reorganization of their scrap yard; costs from the maintenance plan are estimated to be €400 – €500 million.

Steel Market Production Cuts – Keystone Steel & Wire Co. is expected to take a two-week maintenance outage from Oct. 20 to Nov. 3 at its melt shop and rod mill in Peoria, IL.

Steel Market Production Increases – Brazilian-based Tuper finished construction on its 180,000 tpy OCTG plant in São Bento do Sul and announced a plan for a possible subsidiary in Houston, TX as the company’s primary goal is to meet U.S. demand.

Steel Market Production Increases – ArcelorMittal announced a €58 million, four-part investment plan for its operations in Poland. The plan includes upgrades for its No. 2 BOF and its hot-dip galvanizing line, a new service center for sheet (85,000 tpy capacity), and a high speed rail mill. The projects are expected to be completed by the end of next year.

Steel Market Production Increases – Gerdau announced plans to restart their Colombian longs operations that have been idled since late 2010. Muña (135,000 tpy) will be restarted in 2012 and Tocancipá (200,000 tpy) will be restarted in 2013.

Steel Market Production Increases – Brazilian steelmaker Arvedi Metalfer has ordered a new 150,000 tpy high frequency welded tube plant that is scheduled to become operational in May, 2013.

 

Sources: Steel Business Briefing, SteelOrbis, American Metal Market

 

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