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After rising 1.6% in early November, Chinese steel production estimated by the China Iron & Steel Association (CISA) for the second 10 days of November came in at …more
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The spot reference price for 62% Fe iron ore cfr North China declined for the first time since late September, falling 3.2% to $118.90 for the week ending November 23, 2012, and is at the lowest level in five weeks. However, the price is still some 33.6% higher than the recent low of $89.00 on 9/7/2012.
The spot price for iron ore averaged $141.84 in 1Q, $139.35 in 2Q, and $112.12 in 3Q; this compares to an average of $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
Steel Market Production Increases – Chinese pipemaker TPCO America aims to begin production at the pipe and end-finishing facilities in Gregory, Texas by mid-2013, with the seamless pipe rolling mill and EAF expected to start operations in late 2014.
Steel Market Production Cuts – Russian steel company Mechel has halted the 1.1 mtpy DEMZ longs facility due to a “local scrap shortage” and could remain offline until April.
Steel Market Production Increases – Chinese steelmaker Chonggang plans to commission a 1.5 mtpy longs plant in February 2013, bringing total capacity to 8 mtpy.
Steel Market Production Increases – Egyptian steel company IIC plans to start up the upgraded 250,000 tpy Alexandria wire-rod and bar mill by the end of the year.
Steel Market Production Increases – Chinese steelmaker MCC has completed a 1.2 mtpy pre-painted galvanized coil facility in Shandong that contains a 1.2 mtpy CRC mill, two 600,000 tpy pickling lines, two hot-dipped galvanizing lines, a continuous annealing line, and two color-coating lines.
Sources: Steel Business Briefing, American Metal Market
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Our Advance/Decliner Index rose to an eight-month high as global steel prices trended higher on the back of rising scrap prices and continued strength in China. Our …more
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The spot reference price for 62% Fe iron ore cfr North China rose for the sixth consecutive week, gaining 0.6% to $122.80 for the week ending November 16, 2012, and is now 38.0% higher than the recent low of $89.00 on 9/7/2012.
The spot price for iron ore averaged $141.84 in 1Q, $139.35 in 2Q, and $112.12 in 3Q; this compares to an average of $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
Steel Market Production Increases – Chinese steelmaker Jiangsu Tianhuai Steel Pipe has begun production at its new 500,000 mtpy premium quality finishing seamless OCTG facility.
Steel Market Production Increases – American steelmaker Corpac Group has begun construction on a 150,000 tpy OCTG plant near Barranquilla, Columbia and expects to begin production by the end of 2013.
Steel Market Production Cuts – Argentinian steelmaker Ternium Siderar will be forced to decrease planned production in Q4 due to issues while re-starting the No.2 blast furnace. The BF had been idled for maintenance since October 15 and will now be out of commission for an additional 3 to 4 months.
Steel Market Production Increases – South African steel mill CISCO will be restarted after being acquired by Turkish firm DHT Holdings. The facility will begin production in early 2013 at around 220,000 to 260,000 tpy, and will be ramped-up to about 400,000 tpy later in the year.
Steel Market Production Increases – Russian Steel Company MMK has idled the Electric Arc Furnace at the 2.3 mtpy MMK-Metaluji plant in Turkey until at least December 1.
Steel Market Production Increases –Turkish steel company Yolbulan Bastug has restarted its EAF after a four day outage due to repairs being made to the local electricity grid. The facility lost about 18,000 mt of billet production over the four day outage.
Sources: Steel Business Briefing, SteelOrbis, American Metal Market
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Our Advance/Decliner Index rose and our Ex-China Index reached a three-month high, as rising iron ore and scrap prices drove steel prices in the US and MENA higher …more
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Steel Market Production Increases – Mexican steelmaker SIMEC is planning to commission a new 520,000 billet mini-mill in July 2013 in Brazil, with a 400,000 tpy bar and wire rod mill on site that could eventually be expanded to 560,000 tpy.
Steel Market Production Cuts – Indian steel company JSW has idled an 800,000 tpy Corex ironmaking furnace at the Vijayanagar facility for a scheduled 90-day maintenance outage that began on October 15.
Steel Market Production Cuts – Spanish steelmaker Celsa is planning to reduce crude steel production at the company’s Barcelona facility from an average of 2.0 mtpy to 1.33 mtpy in 2013.
Steel Market Production Increases – Italian steel company AFV Beltrame Group has commissioned a 350,000 tpy heavy plate mill at the company’s Laminados Industriales subsidiary in Argentina. The mill will eventually reach design capacity of 500,000 tpy and two new sections rolling mills will be “developed between 2013 and 2015.”
Steel Market Production Increases – ArcelorMittal announced that production is returning to “normal” at the Dabrowa Gornicza facility’s No. 3 blast furnace in Poland after an accident at the already repaired No. 2 BF in late October.
Sources: Steel Business Briefing, SteelOrbis, MetalBulletin
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Final October Chinese steel production came out overnight at 1.91 million tonnes per day (mtpd), a 1.3% decline from September’s 1.93 mtpd and down some 5.6% from …more
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New Report Preview:
After jumping more than 30% in September, October Chinese net steel exports declined 3.6% to 3.79 million tonnes (mt) as gross steel exports fell 6.0% and imports …more
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