HRC times for the week ending October 14 climbed to 3.5 from 3.3 the week prior and 2.9 two weeks ago.
HDG lead times declined to 5.4 from 6.2 the week before, while CRC lead times dropped to a 14-week low of 5.3 from 6.0.
Sources: The Steel Index, Steel Business Briefing
HRC = Hot Rolled Coil CRC = Cold Rolled Coil HDG = Hot Dipped GalvinizedNew Report Preview:
The Chinese National Bureau of Statistics released final September steel production yesterday along with other economic data, reporting final Chinese steel production …more
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Steel Market Production Cuts – The Chinese province of Shandong is implementing a plan to remove about 23 mtpy of steel capacity by 2015. The plan calls for cuts of 700,000 tpy of ironmaking and 400,000 tpy of steelmaking capacity by the end of 2012 with additional reductions of 3 mtpy and 5.85 mtpy respectively in 2013.
Steel Market Production Cuts – Nucor will idle theBirminghamrebar mill over the weekend of October 27 and will resume production on October 30.
Steel Market Production Increases – Venezuelan steelmaker SIDOR plans to increase crude steel production from 1.85 mtpy to 4 mtpy next year.
Steel Market Production Increases – Kryvyi Rih, the Ukrainian subsidiary of ArcelorMittal, said that rebar output will be reduced by 10-15% to 235-245,000 tpy in October.
Steel Market Production Cuts – The 1.8 mtpy pickling line at Tokyo Steel Manufacturing’s Tahara facility has been halted due to a fire, but the line was only operating at a run-rate of 120,000 tpy so the impact will be less severe.
Steel Market Production Cuts – Korean steelmaker Posco is following the lead of Dongbu and Hyundai with a planned HRC output reduction of 30,000 tonnes in October.
Sources: Steel Business Briefing, American Metal Market, SteelOrbis
New Report Preview:
Following US Steel’s leading $40/ton sheet price hike yesterday, Nucor, ArcelorMittal, AKSteel, Severstal and NLMK have now announced matching price increases, with Severstal’s HRC list price set at $620/ton, a 7% increase. An additional five sheet producers raising prices cements the credibility of US Steel’s initial move and we expect any mill yet to follow to do so in quick order…more
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New Report Preview:
Quick on the heels of US Steel’s leading sheet price hike yesterday, AK Steel followed with a $40/ton hike of its own, and we expect others to make similar moves in the next few …more
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New Report Preview:
Our Advance/Decliner Index rebounded as China returned to the market, which had a more powerful impact as 33% of the price changes this week came from China, as …more
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New Report Preview:
Chinese steel production estimated by the China Iron & Steel Association (CISA) overnight came in at 1.916 million tonnes per day (mtpd), up some 4% from the last 10 days …more
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New Report Preview:
The MSCI September report had some good news in that overall inventories dropped some 2.2% with the bulk of the decline coming from flat-rolled, which has been the …more
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Steel Market Production Cuts – Nucor is planning to idle the Marion, Ohio rolling mill for a week beginning October 21 and will also idle the Kankakee, Illinois bar mill from October 28 to November 3. Both of the outages are for routine scheduled maintenance.
Steel Market Production Increases – Indian steelmaker JSW announced that a scheduled 21 day maintenance outage at the No. 2 hot strip mill was completed ahead of schedule and increased capacity from 3.5 mtpy to 5.0 mtpy.
Steel Market Production Increases – Russian steelmaker Severstal plans to begin operations at the new 1 mtpy Balakovo longs facility in 2Q13.
Steel Market Production Increases – Brazilian steelmaker Gerdau Long Steel NA has delayed an expected 5-10 day maintenance outage from October to November 1st at the 800,000 tpy Beaumont rolling mill.
Steel Market Production Cuts – Korean steel production will decrease in October as Dongbu Steel plans to cut HRC levels by 50,000t and Hyundai Steel plans to cut rebar production by 60,000t, due to weakness in their respective markets.
Sources: Steel Business Briefing, American Metal Market, SteelOrbis
New Report Preview:
According to trade press, this morning USS has quietly told customers of a pending $40/t price hike in flat-rolled, leading the industry’s first since July, after six straight …more
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