January 18, 2013 Posted by Steel Market Intelligence
New Report Preview:
Insteel Industries (IIIN) reported DecQ at $0.13, more than triple the Street’s $0.04E, and 260% higher than SepQ’s $0.05/share. The beat was driven by… more
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October 12, 2012 Posted by Steel Market Intelligence
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Following the $47/ton drop in shredded scrap prices, domestic mills decided to reduce transaction prices for rebar by $25/ton, beam prices by $30/ton, and merchant bar …more
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September 28, 2012 Posted by Steel Market Intelligence
Steel Market Production Increases – Mexican steel producer AHMSA plans to finish the expansion of the Monclova integrated flats and longs mill in early 2013, which will increase capacity by 40% to 5.5 million tpy.
Steel Market Production Increases – Chinese steelmaker Xinjiang Yili Iron & Steel started the testing phase of a new 800,000 tpy bar mill this week that will contribute toward the company’s capacity goal of 2 million tpy.
Steel Market Production Cuts – Spanish steel company Alfonso Gallardo intends to shut down the Corrugados Getafe rebar mill outside of Madrid due to weak construction demand. The mill has capacity of 400,000-500,000 tpy but is presently operating at under 50% of capacity (200,000 – 205,000 tpy).
Sources: Steel Business Briefing
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
