The spot reference price for 62% Fe iron ore cfr North China rose some 0.4% to $116.70 for the week ending August 3, 2012, from $116.20 last week – breaking a three week decline in prices – though still near the lowest price since the week ending December 18, 2009.

For the first quarter of 2012, the iron ore price averaged $141.84, and for 2Q, $139.35; this compares to an average of $176.90 for 1H 2011 and $167.59 for full-year 2011. The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.

Source: The Steel Index

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With the ink still wet on last week’s second price hike, AK Steel has run with a third increase now, for a total hike of $110/ton. Weaker imports, strong automotive demand and the likelihood of a… more

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The July ISM Steel Survey continues to reflect American manufacturing’s scaled-back expectations for the US economy as well as increasing uncertainty, driven largely by worries about… more

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TMS International (TMS) reported 2Q EBITDA of $37.8m, slightly ahead of the Street’s $36.7m and the $33.5m recorded in the year-ago period.  The yoy improvement is due to… more

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A.M. Castle (CAS) reported a 2Q loss of $(0.13)/share, which adjusted to a profit of $0.11/share after non-recurring items, well short of the Street’s $0.29 and 1Q’s clean $0.29/share. The sequential drop was driven by… more

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Steel Market Production Increases – Mexican steelmaker Ternium has announced the installation of a new 700,000 tpy two-strand continuous slab caster at its Argentinian subsidiary Ternium Siderar that is scheduled to come online in 2013.

Steel Market Production Increases – Brazilian steelmaker Gerdau’s new 770,000 tpy capacity hot rolled coil mill in Brazil is scheduled to start operations in late 2012.

Steel Market Production Increases – Brazilian steelmaker Gerdau’s Gerdau Kalyani JV in India will begin operating at a rate of 350,000 tpy of crude steel output this month.

Sources: Steel Business Briefing, SteelOrbis, 

After declining for 3 straight weeks, the number of active oil and natural gas rigs in the United States rose to 1,930 for the week ending August 3, 2012, up 0.3%  from the prior week and up a scant 0.5% from the year-ago level.

The highest weekly rig count in theUnited Statessince 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.

After 5 straight weeks of increases, the number of rigs in Canada fell this week by 10.36%  to 303 compared with 338 last week and down 30.18% from the year-ago level.

The highest rig count forCanadawas 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.

Source: Baker Hughes Inc.