| Price Index - India | | | | 06-Feb | 05-Feb | Change | | ILPPI | 6467 | 6465 | +2 | | IFPPI | 6488 | 6488 | 0 | | INDSPI | 6477 | 6476 | +1 | | What is it? | | Currency | | AUD | 1.4812 | | BRL | 2.2197 | | CAD | 1.2189 | | CNY | 6.8227 | | EUR | 0.7725 | | GBP | 0.6760 | | INR | 48.2800 | | JPY | 91.8458 | | RUB | 36.1033 | | USD | 1.0000 | | ZAR | 9.5616 | | View Current Currency | | Metal Rates Cash Seller & Settlement | | Zn | USD 1135 | | | Ni | USD 11475 | | | Sn | USD 11150 | | | Al | USD 1421 | | | Cu | USD 3440 | | | View Current Metal Rates | | Steel Futures | | NCDEX | 23900 (19-Dec) | INR | 0 |  | | DGCX | 480 (05-Feb) | USD | 0 | | | LME-M | 330 (05-Feb) | USD | 0 | | | LME-F | 300 (05-Feb) | USD | +10 |  | | NCDEX :
NCDEX Mild Steel Ingot Future Closing Price DGCX :
Dubai Steel Rebar Futures Closing Prices LME-M :
LME Steel Billet Future Buyer Prices (Mediterranean) LME-F :
LME Steel Billet Future Buyer Prices
(Far East) | | | | Others
Monday Market Monitor - India (WEEK 6) - Slide continues - 09 Feb 2009 Indian domestic steel price decline continued relentlessly last week. The ILPPI fell by 175 points, whereas the fall in flat products was less pronounced by 138 points. The overall price index (INDSPI) plummeted by 158 points
| Class | 29-Jan | 06-Feb | Change
| | ILPPI | 6643 | 6467 | -175
| | IFPPI | 6625 | 6488 | -138
| | IDSPI | 6634 | 6477 | -158
| | | | |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products| Category | 29-Jan | 06-Feb | Change
| | PI - TMT | 6380 | 6192 | -187
| | PI - WRC | 7097 | 6975 | -122
| | PI - Angle | 6328 | 6137 | -191
| | PI - Channel | 6356 | 6169 | -186
| | PI - Joist | 6161 | 5778 | -383
| | | | |
Flat products| Category | 29-Jan | 06-Feb | Change
| | PI - Narrow Plates | 6253 | 6178 | -75
| | PI - Wide Plates | 6799 | 6550 | -249
| | PI - Hot Rolled | 6408 | 6300 | -108
| | PI - Cold Rolled | 7246 | 7049 | -197
| | PI - Galvanized | 6910 | 6771 | -139
| | | | |
The lowest values since, August 5th 2008, was achieved in both long and flat products on February 6th 2009 as follows| Class | 06-Feb
| | ILPPI | 6465
| | IFPPI | 6475
| | INDSPI | 6476
| | |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
Input materials-Mixed movement in Week 6
1) Domestic prices for input material dropped at all locations by 1% to 2% except Kandla and Mumbai where it improved by 2%.
2) Ship scrap prices too declined by 1% in Alang after a long gap showing glut.
3) Price of plate cutting at Alang also declined by 1%
4) Melting scrap 80:20 HMS| Location | Change | %
| | Chennai | -143 | -0.9%
| | Kandla | 349 | 1.9%
| | Mumbai | 300 | 1.9%
| | Mandi | -669 | -3.4%
| | Kolkata | -327 | -1.8%
| | Kanpur | -349 | -2.1%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
5) Pencil ingot shows mixed movement.| Location | Change | %
| | Mumbai | 700 | 3.3%
| | Mandi | 363 | 1.6%
| | Raipur | 0 | 0.0%
| | Kanpur | -349 | -1.6%
| | Kolkata | -1812 | -8.0%
| | Ghaziabad | -300 | -1.3%
| | Muzzafarnagar | 174 | 0.8%
| | Ahmedabad | -1000 | -4.4%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
6. Pig Iron| Location | Change | %
| | Raipur | 200 | 1.1%
| | Kolkata | -906 | -4.7%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
7. Sponge iron| Location | Change | %
| | Raipur | 400 | 3.0%
| | Kolkata | -815 | -5.6%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
Long products price slides for the 6th consecutive week:
TMT
Fe 415
12mm| Location | Change | %
| | Chennai | -2500 | -7.7%
| | Mumbai | 1147 | 4.0%
| | Mandi | -1664 | -5.0%
| | Kolkata | -2096 | -6.3%
| | Delhi | -2337 | -7.1%
| | Kanpur | -400 | -1.3%
| | Ahmedabad | -1377 | -4.6%
| | Indore | -400 | -1.3%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6| Location | Change | %
| | Chennai | 0 | 0.0%
| | Raipur | 0 | 0.0%
| | Kolkata | -1442 | -4.8%
| | Delhi | -725 | -2.3%
| | Kanpur | -1482 | -4.9%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
ANGL
GR A
65x6| Location | Change | %
| | Chennai | -500 | -1.6%
| | Mumbai | 0 | 0.0%
| | Mandi | 0 | 0.0%
| | Raipur | -104 | -0.4%
| | Kolkata | -1655 | -4.9%
| | Delhi | -520 | -1.7%
| | Kanpur | -900 | -2.9%
| | Ahmedabad | -459 | -1.6%
| | Indore | -400 | -1.3%
| | Bangalore | -500 | -1.6%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
CHNL
GR A
75/100| Location | Change | %
| | Chennai | -800 | -2.5%
| | Mumbai | 0 | 0.0%
| | Mandi | -104 | -0.3%
| | Raipur | -208 | -0.7%
| | Kolkata | -1986 | -5.7%
| | Delhi | -520 | -1.7%
| | Kanpur | -900 | -2.8%
| | Ahmedabad | -459 | -1.6%
| | Indore | -500 | -1.6%
| | Bangalore | -1000 | -3.1%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
JSTI
GR A
250x125| Location | Change | %
| | Chennai | 0 | 0.0%
| | Mumbai | 0 | 0.0%
| | Mandi | -312 | -0.9%
| | Raipur | 0 | 0.0%
| | Kolkata | -1434 | -4.1%
| | Delhi | -520 | -1.6%
| | Kanpur | -1400 | -4.2%
| | Ahmedabad | -624 | -1.9%
| | Indore | -550 | -1.7%
| | Bangalore | -1000 | -3.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
Flat products continue on downward trend
The flat product maintained its downward trend:
HRC
Tube
2.5x1250| Location | Change | %
| | Mumbai | 906 | 3.4%
| | Ludhiana | -363 | -1.3%
| | Kolkata | -247 | -0.9%
| | Delhi | -997 | -3.4%
| | Ahmedabad | -181 | -0.6%
| | Indore | 0 | 0.0%
| | Bangalore | 0 | 0.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
Patra| Location | Change | %
| | Ludhiana | -725 | -2.7%
| | Mandi | 0 | 0.0%
| | Delhi | 0 | 0.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5| Location | Change | %
| | Chennai | -1545 | -5.2%
| | Mumbai | 906 | 3.4%
| | Kolkata | -50 | -0.2%
| | Delhi | -997 | -3.4%
| | Kanpur | -872 | -3.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5| Location | Change | %
| | Chennai | 0 | 0.0%
| | Mumbai | -2719 | -8.2%
| | Raipur | -436 | -1.4%
| | Kolkata | -247 | -0.9%
| | Delhi | 0 | 0.0%
| | Kanpur | -523 | -1.8%
| | Ahmedabad | -1813 | -5.5%
| | Indore | 0 | 0.0%
| | Bangalore | 0 | 0.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
CR
DSK
0.63x1000| Location | Change | %
| | Chennai | 0 | 0.0%
| | Mumbai | -453 | -1.5%
| | Pune | -453 | -1.4%
| | Kolkata | -86 | -0.3%
| | Delhi | 0 | 0.0%
| | Kanpur | -87 | -0.3%
| | Ahmedabad | 0 | 0.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
GC
100Gms
0.4| Location | Change | %
| | Chennai | 0 | 0.0%
| | Mumbai | 436 | 1.2%
| | Kolkata | -1362 | -3.6%
| | Delhi | 0 | 0.0%
| | Kanpur | -523 | -1.5%
| | Bangalore | 0 | 0.0%
| | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 22 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Indian April to January steel output up by 1.1% YoY - 09 Feb 2009 Reuters reported that India's steel production rose to 46.8 million tonne in the first 10 months of the financial year 2008-09 that ends in March, up by 1.1% from a year earlier.
The official at the Joint Plant Committee, which overseas data said that among the large producers that control about a third of the domestic market output at state run Steel Authority of India was down, while TATA Steel remained steady.
He said that "There has been a growth in long products used mainly in housing, but flat products were down owing to slower off-take from the engineering sector." India, which makes about 53 million tonne of the metal a year, is the world's fifth largest steel producer.
(Sourced from Reuters)
Mr Marcegaglia see synergy with TATA Steel - 09 Feb 2009 BS reported that after signing a MoU for picking up a majority stake in Corus Teesside Cast Products, Italian steel maker Marcegaglia may explore further synergies with TATA Steel.
Mr Antonio Marcegaglia CEO of Marcegaglia said that “We have a historical relationship with TATA Steel, spanning more than 20 years, and it is logical that we explore synergies with them in the future.”
As per report Mr Marcegaglia quoted its interest in making a major investment in India about a year ago. It is going slow on its India plans and would revisit at an appropriate time. He said that “We recognize India as an important market.”
He, however said that the priority currently is its investment in TCP. Sources close to the development said that according to the MoU signed for the TCP sale, Marcegaglia would have a 56%, South Korea’s Dongkuk would have a 24% stake while the remaining 20% would be with Corus.
As per report, Marcegaglia and Dongkuk would undertake due diligence with a view to finalizing an acquisition agreement. TCP has a slab making capacity of around 4.7 million tonne.
Mr Marcegaglia added that the acquisition would secure the future of the plant. Corus’ move to dilute its holding on TCP was part of its restructuring initiative to improve its competitiveness.
The report added that both Marcegaglia and Dongkuk are part of the 4 member consortium that has a slab offtake agreement with Corus. The other members are Alvory SA and Duferco Participations Holding and would continue as offtakers. Corus would continue with its 20% stake.
Mr Marcegaglia further added that synergies in additional facilities with TATA Steel could be explored even in Europe in the long products segment. It processes 5 million tonne of steel.
(Sourced from Business Standard)
SECO Warwick commission spheroidize annealing furnace at Mukund - 09 Feb 2009 It is reported that SECO Warwick Allied has recently commissioned a Spheroidize Annealing Furnace at Mukand Ltd at Kalwa in India. The charge material consists of solid round bars ranging from 25 millimeter to 160 millimeter in diameter. Lengths of the bars may vary from 6 meter to 6.5 meter.
Spheroidize annealing is an annealing process used for high carbon steels that will be machined or cold formed. The purpose is to soften the high carbon steels and allow more formability, thus making the softest and most ductile form of steel. This involves partial austenitizing of the charge material. Spheroidite is formed when carbon steel is heated to around 700 °C for over 30 hours.
However, this is then followed by rapid cooling, and subsequently, slow cooling. The process parameters are critical due to the long cycle time. The charge batch weight is 30 tonne and approx 7 tonne of charge spacers are employed for proper spacing.
As per report, this furnace is unique in concept. It is actually a blend of a car furnace and a bell furnace. The goal of this design is the need to maintain the furnace chamber pressure at 40 millimeter WG, for best results.
Circulation inside the furnace is achieved through 4 recirculation fans provided on top of the furnace. The furnace is electric heated, divided into 4 zones controlled through thyristors. The process calls for limiting the maximum heating rate to 110 C per hour and controlled cooling with a cooling rate between 5 C per hour to 25 C per hour. This process is delicately balanced through the interplay between the heaters and circulation of the protective gases through a sealed heat exchanger.
The report added that the system performance exceeds the original requirements with spheroidization of over 90% for SAE 52100 grade and over 80% for other grades. Temperature uniformity, oxygen percentage and decarb are all well within control. Work is currently going on for the commissioning of the second furnace at the same plant.
Macroeconomic indicators - Indian manufacturing sector growth slips - 09 Feb 2009 PTI quoted a survey by industry chamber CII as saying that under the impact of downturn, a third of India’s manufacturing sector slipped into negative zone during April to December 2008 over the same period last year.
However, of the 96 manufacturing segments covered under the CII-Ascon survey, 32 showed a negative growth. The domestic manufacturing sector is the second largest employment generator after agriculture.
The survey said that the worst hit segments include fertilizer, polymers, steel, pig iron, motor starters, castings, textile machinery, distribution transformer, HCV’s, LCVs, rubber footwear and auto cycle tubes.
It said that “Manufacturing sector, reeling under the impact of global financial crisis has reported slowdown in production during the first three quarters of the fiscal,” adding that compared to last year, over 78% of the sectors are in low and negative growth category.
It further said that sectors like cement, tractors, electric fans, vehicle industry including mopeds, scooters, cars, motorcycles, automotive tyres have recorded a moderate growth rate.
(Sourced from Press Trust of India)
UGSL Q3 net sales up by 89% - 09 Feb 2009 It is reported that Uttam Galva Steels Ltd has recorded an impressive performance for the quarter ended December 31st 2008. It sales for the quarter increased to INR 1102.50 crore, up by 89% compared to INR 582.69 crore while sales volume increased by 50% as compared to the corresponding quarter of the previous year.
Production for December 2008, quarter increased by 38% to 1.59 million from 1.15 million for the same quarter last year. Operating profit for December 2008 quarter increased to INR 76.99 crore as against INR 71.75 crore for the same period last year.
Mr Ankit Miglani director commercial of Uttam Galva Steels Ltd said that “The steep downslide in global steel prices has resulted in losses due to high priced inventories which have affected margins. We have liquidated most of such inventory stock in this quarter and the same is reflected in our results. The next quarter should see normalization of margins.”
CAPEX cuts - Sical Logistics drops plans for Greenfield port - 09 Feb 2009 BL reported that Sical Logistics Ltd has put on hold its INR 1,500 crore Greenfield port citing bad market conditions.
According to sources, it would rather concentrate in the short term on consolidating operations. It may be recalled that in September 2007, Sical signed an agreement with Jurong Port, Singapore, for undertaking a detailed study to identify a bulk port project in India. The study was in advanced stages of closure.
Sources said that “The export-import trade is in a bad condition. We have decided to drop the project at this juncture and concentrate on consolidation of operations. All other projects are on schedule.”
Mr Sudhir S Rangnekar MD & Group CEO of Sical Logistics said that Sical will have 51% equity stake in the project and Jurong, the balance on a debt equity ratio of 2:1. The proposed port was planned to handle bulk items, mainly iron ore exports and coal imports.
(Sourced from Business Line)
NTPC achieves record generation in January - 09 Feb 2009 BL reported that NTPC has highest ever monthly generation of 19.2 billion units in January with 8 power stations of the company achieving more than 100% plant load factor.
These NTPC stations are Rihand, Tanda and Dadri (coal) in Uttar Pradesh, Korba in Chhattisgarh, Vindhyachal in Madhya Pradesh, Simhadri and Ramagundam in Andhra Pradesh and Talcher Thermal in Orissa.
With 19.11% of the country’s installed capacity, NTPC accounts for 28.51% of the total power generation in the country. It has a total installed capacity of 29894 MW and is poised to become a 75000 MW plus power utility by 2017.
(Sourced from Business Line)
Directory of Re-Rolling Industry in India - 09 Feb 2009 Published in January 2009, 'Directory of Re-Rolling Industry in India ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian Re-Rolling industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report covers name of 825 steel re-rollers of India in alphabetical as well as location wise order. Look at the information you'll get in the ' Directory of Re-Rolling Industry in India '
• Company name -825 entries
• Address-825 entries
• Email-113 entries
• Phone number-813 entries
• Fax number -363 entries
• Mob -155 entries
Format:
PDF File
Total no of pages - 454
Delivery by Email on receipt of payment
Price:
USD 300 or equivalent in INR
Additional Charges would be levied for delivery of file on a CD or in printed form
How to order:
Ordering the report is simple. You can order your copy to reports@steelguru.com, who will send you an invoice of the report.
TATA Steel tribal culture centre upgraded to the centre of excellence - 09 Feb 2009 The Tribal Culture Centre promoted by TATA Steel has been upgraded to the centre of excellence. The upgraded centre was formally inaugurated by Mr B Muthuraman MD of TATA Steel.
Mr Muthuraman was delighted to see the upgraded centre with more facilities and opportunities for the tribals. He said that “Mankind has been chasing the philosophy of equal opportunity for long, but has not been successful in adopting this. However, TATA Steel has believed in Affirmative Action since its inception. By its inherent social consciousness, it has adopted Affirmative Action. Anything that is done should be done in consultation with the people for whom it is done. Through this Centre, TATA Steel will be able to provide the necessary foundation to the people for equal opportunity.”
Mr Partha Sengupta VP (CS) of TATA Steel was also present during the occasion along with other Senior Executives of TATA Steel, members of various tribal associations and senior citizens of Jamshedpur.
Ms Munni Tiu and Mr Jagarnath Soren, the beneficiaries of one of the projects for tribals shared their experiences with the gathering. Ms Tiu is now the Ward Commissioner of the Gamharia block of Sareikela Kharsawan district of Jharkhand and Mr Soren is currently working in the Coke Plant of the Company after completing his trade apprentice training.
However, TCC which was set up in the year 1990 for the welfare of the tribal community of Jharkhand now has an upgraded Heritage Hall and Amphitheatre depicting the heritage and culture of the various tribes of Jharkhand.
Mr Satish Pillai Chief of CSS, TATA Steel in his welcome address informed that the Company has proposed to use TCC for the promotion of rural enterprise, Santhali language, vocational training and art and culture of the tribals with a special focus on the promotion of Jharkhand tribal sports called Kati. Plans are afoot to set up a sports hostel for the tribals in the near future.
Though Affirmative Action was declared as a Policy in 2006 by the Government of India, TATA Steel has been practicing it for over 3 decades now. Through Tribal Cultural Society, TATA Steel has been working for the preservation of the rich tribal heritage and culture of the indigenous people in the state of Jharkhand. A Heritage Hall maintained by TATA Steel in Jamshedpur, serves as a platform for highlighting tribal legacy. It showcases the lifestyle of not only the Oraon, Ho, Munda and Santhal tribes but also the primitive tribes like Sabar, Birhor, Kharia, Mal-Paharia and Suray-Pahariya. Other projects focus on improvement of livelihood opportunities amongst the economically weaker sections and improvement of health and hygiene amongst marginalized families.
TATA Steel has done some exemplary work in the state of Jharkhand and has made a huge difference to the lives of the people. It has taken up the responsibility to save and protect the primitive tribes of Jharkhand and bring them at par with mainstream civilization. Now, the company is in the process of taking this model forward to other eastern states like Orissa and Chhattisgarh.
Needless to say that the gamut of TATA Steel’s social outreach program for the up liftment of the weaker sections of society spreads across all segments that include income generation, health and hygiene, education and adult literacy, agriculture and wasteland management. It covers over 800 villages in the states of Jharkhand, Orissa and Chhattisgarh.
Madhucon to commence coal production in Indonesian mine - 09 Feb 2009 BL reported that Madhucon's coal mine project in Indonesia is expected to commence commercial production from April 2009.
As per report the Hyderabad based infrastructure major had acquired the mine through a 100% subsidiary company in Indonesia on a 30 year lease. The objective is to diversify into the power sector for which it has already acquired 48% equity in Simhapuri Energy, a special purpose vehicle.
Under the initiative, it is constructing the first phase of the 540 MW thermal power project near Krishnapatnam port in Nellore district of Andhra Pradesh, expected to go commercial in June 2010. Madhucon had an order book of INR 4,500 crore at the end of Q3. It has submitted tenders in irrigation projects worth over INR 1,000 crore.
(Sourced from Business Line)
4 nuclear power plants to be operational in 2009 - 09 Feb 2009 Projects Today reported that India is looking forward to start 4 nuclear power plants which will add 1,660 MW atomic power to the national energy basket.
As per report, the Atomic Energy Commission expect 2 plants in Rajasthan and one plant in Kaiga to be operational in 2009. The Kudankulam power plant may also become operational in this year.
Currently, nuclear power constitutes only 3% of the total electricity generated in the country. However, the Indo-US civil nuclear deal will help speed up atomic power generation in the country.
(Sourced from Projects Today)
L&T proposed shipyard to come up in 18 months - 09 Feb 2009 PTI reported that Larsen & Toubro's proposed integrated ship building yard at Ennore in Tamil Nadu would be ready in 18 months.
Mr K Venkataramanan president (Operations) of L&T said that the project would come up at a cost of INR 2,000 crore.
Mr Venkataramanan said the diversified conglomerate, whose activities range from shipping to software is geared up to the meet the challenges arising out of the global economic meltdown. He said that the company is going to execute several projects giving employment to many people.
He said that "L&T is aiming to be second BHEL,'' referring to the public sector company, the largest engineering and manufacturing enterprise in the country in the energy related or infrastructure sector.
He added that L&T is slowly shifting its activities in southern India.
L&T has announced plans to build large tonnage ships at the facility.
(Sourced from Press Trust of India)
Directory of White & Yellow Goods Manufacturers in India - 09 Feb 2009 Published in January 2009, 'Directory of White & Yellow Goods Manufacturers in India' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian White & Yellow goods industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report covers name of 56 White & Yellow manufacturers of India in alphabetical as well as location wise order. Look at the information you'll get in the ' Directory of White & Yellow Goods Manufacturers in India '
• Company name -56 entries
• Address-56 entries
• Email-50 entries
• Phone number-56 entries
• Fax number -65 entries
• Mob -18 entries
Format:
PDF File
Total no of pages - 37
Delivery by Email on receipt of payment
Price:
USD 250 or equivalent in INR
Additional Charges would be levied for delivery of file on a CD or in printed form
How to order:
Ordering the report is simple. You can order your copy to reports@steelguru.com , who will send you an invoice of the report.
TCS implements ERP at Kochi port - 09 Feb 2009 BL reported that the country’s largest software firm TATA Consultancy Services has completed ERP implementation for the Cochin Port Trust in 10 months’ time, to make it the country’s first ePort.
According to official, Christened e- thuramugham or ePort, the project integrates the port’s operational, financials, real estate and human resources systems on an integrated port information system.
Once fully functional, the system will provide single window facility to the trade for filing applications, receiving service bills, payments and enquiries.
Mr N Ramachandran chairman of Cochin Port Trust said that “With this, we will be enabled and empowered to closely monitor performance, improve operational efficiency and provide higher standards of service to the shipping and export-import community.”
(Sourced from Business Line)
Monday Market Monitor - CIS (WEEK 6) - Billets go down by 5% - 09 Feb 2009 The export prices of long products at black Sea continued to fluctuate last week, where as offers for flat products remained unchanged.
For long products demand, in general, was lower than in previous week and this led to decrease of prices of billets, rebars and wire rods.
Based on offers from various sellers, a "single" price for billets exports can be indicated as USD 375 per tonne on FOB Black Sea basis. But serious buyers tried to push it down to USD 370 per tonne and below. In fact price levels for prime cargos, with non standard and mixed lengths, were heard at USD 360 per tonne FOB levels.
As for finished longs, demand was weaker as well and it seems that latest deals were closed at USD 430 per tonne to USD 440 per tonne on FOB Black Sea levels.
| Item | Grade | Size | Change | %
| | Billets | 3-5 sp/ps | 125-150 mm | -20 | -5.3%
| | Rebars | A300C-A500C | 12-32 mm | -10 | -2.3%
| | Wire rods | mesh | 5.5-6.5 mm | -10 | -2.3%
| | HRC | ST1-ST3 kp/sp/ps | 2-8 mm | 0 | 0.0%
| | HRC | ST1-ST3 kp/sp/ps Rus | 2-8 mm | 0 | 0.0%
| | Plates | A36 | 8-30 mm | 0 | 0.0%
| | CRC | 08 kp (Ukr) | 0.5-1.5 mm | 0 | 0.0%
| | CRC | Russian origin | 0.5-1.5 mm | -10 | -2.1%
| | | | | |
Change on February 6th with respect to prices on January 30th 2009
Change is in USD per tonne
Delivery FOB Black sea
The gap between Black Sea port prices and Chinese Main port prices is widening because of lack of dormancy in the former. This makes import from Russian and Ukrainian mills more lucrative and is likely to result in downslide n Chinese export offers, as most of the mills are resuming production thus increasing availability
| Item | 16-Jan | 23-Jan | 30-Jan | 06-Feb
| | Billet | -100 | -115 | -115 | -130
| | Rebar | -90 | -95 | -95 | -105
| | Wire rod | -90 | -105 | -105 | -120
| | HRC | -145 | -175 | -160 | -165
| | Plates | 100 | 100 | 100 | 65
| | CRC | -130 | -135 | -130 | -130
| | | | | |
As the prices are already at low levels, even lower than variable cost for many of the mills, despite downward pressure due to lack of buying and slight increase in production in coming months by Russian and Ukrainian mills, it is unlikely that prices, in general, will see major crash.
But market sources indicate possibility of further dip in prices of billets and long products in coming weeks. Although forecasting of steel prices is next to impossible, our sources point to possibility of billet prices reaching USD 300 per tonne on CFR basis and stabilizing thereafter. In other words, USD 270 per tonne to USD 275 per tonne on FOB Black Sea basis, which means crash by almost USD 100 per tonne. If billet prices reduce, prices of rebars and wire rods would follow the suit.
Readers may kindly note that this is based in individual opinions of some of the market players and could prove to be otherwise. In fact a lot would depend on the stance of Chinese steel mills, which are maintaining high offers so far, but could become aggressive now due to surplus availability and lack of orders. One has to remember that China has exported almost 4.5 million tonnes on average per month in 2008 and can not be out of export market for a long time.
To know exact prevailing FOB prices at Black Sea, as they change, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Mr Leng resigns from chairman designate of Rio Tinto - 09 Feb 2009 Rio Tinto announced that Mr Jim Leng, a non executive director, has resigned from the boards with immediate effect and will therefore not take up the post of chairman of the boards in April as previously planned.
The release said that “At the request of the boards, Rio Tinto's current chairman, Mr Paul Skinner, has agreed to remain as chairman until mid 2009, by which time it is anticipated that a successor will be appointed.”
The release added that “The process to appoint a new Chairman is underway.”
Mr Leng was appointed by Rio less than four weeks ago to take over from Mr Paul Skinner, who was due to retire as chairman in April.
Production pruning -Japanese Q4 crude steel to go down by 27% YoY - 09 Feb 2009 According to a January 30th 2009 announcement by Ministry of Economy, Trade & Industry, Japan's steel companies plan to produce a total of 19,262,000 tonnes of crude steel in January to March 2009 quarter, down by 7,132,000 tonnes or by 27% YoY, indicating their quarterly crude steel production of less than 20 million tonnes for the first time in 38 years since fiscal 1970.
The announcement is based on METI's hearings from the nation's various steel companies.
The planned production volume of crude steel is lower by 1,838,000 tonnes or 8.7% than METI's demand estimate of 21,100,000 tonnes for January to March 2009 quarter. Also, the planned production volume indicates a decrease of 11,573,000 tonnes or 37.5% from the definite production volume of 30,835,000 tonnes in January to March 2008 quarter. The following are the steel companies' production plans for the fourth quarter of fiscal 2008
Ordinary steel products
Total production is projected at 13,339,000 tonnes, down by 4,469,000 tonnes or 25.1% QoQ from actual production a quarter ago. Of the projected total, the first 9,878,000 tonnes of products are intended for domestic shipments, down by 3,619,000 tonnes or 26.8% from a quarter ago and the remaining 3,461,000 tonnes for export sales, down by 1,141,000 tonnes or 24.8%.
H beams, small bars
Total production is projected at 610,000 tonnes for H beams, down by 293,000 tonnes or 32.4% QoQ from actual production a quarter ago. Total production is projected at 1,834,000 tonnes for small bars, down by 299,000 tonnes or 14% QoQ from actual production a quarter ago.
Specialty steel products
Total production is projected at 3,220,000 tonnes, down by 1,733,000 tonnes or by 35% QoQ from actual production a quarter ago. Of the projected total, the first 2,145,000 tonnes of products are intended for domestic shipments, down 1,449,000 tonnes or 40.3% from a quarter ago, and the remaining 1,075,000 tonnes for export sales, down by 285,000 tonnes or 20.9%.
Meanwhile, METI describes the compiled results from its hearings this time as provisional data. For the main reason, METI expects the Japanese steel companies to continue reviews of their production plans in the light of the world's deteriorating economic conditions.
(Sourced from TEX Report Ltd)
EU imposes 24% tariff on Chinese and Moldovan wire rod - 09 Feb 2009 Bloomberg reported that European Union has imposed tariffs as high as 24.6% on wire rod from China and Moldova to help EU producers compete against cheaper imports.
The duties punish Chinese and Moldovan exporters for selling wire rod in the EU below cost. The levies cover about EUR 310 million of imports in 2008 of the product, which is used in construction.
European Commission said that EU producers suffered material injury as a result of the dumped imports. It added that the duties, which will take effect tomorrow for six months, are 24.6% against all Chinese manufacturers except Valin Group, which faces an 8.6% levy and 3.7% against Moldovan exporters.
It may be noted that China and Moldova increased their combined share of the EU wire rod market to 6.3% in the 12 months through March 2008 from 1.4% in 2004. This is the preliminary result of an inquiry opened in May 2008 that also covers Turkey, which is being spared the trade protection because the commission found no price undercutting by Turkish exporters.
After the start of trade probes, the commission has 9 months to decide whether to impose provisional anti dumping duties for half a year and EU governments have 15 months to choose whether to apply definitive levies for 5 years. In the other steel cases involving China, the commission refrained from imposing provisional levies on galvanized and stainless steel and introduced provisional duties as high as 52.2% on steel wire.
The galvanized steel case may be on the verge of ending. European steel industry lobby group Eurofer has withdrawn its dumping complaint and the commission has announced a plan to close the investigation.
(Sourced from www.bloomberg.net)
Coke price rebound in China likely to stop in March - 09 Feb 2009 China Mining reported that coke price rebounds in parts of China since January 2009 are expected to last until most coalmines resume production in March, and the price rebound is unlikely to continue.
Analysts hold that the coke price rebound is related to the decline in coking coal output during the Chinese Spring Festival.
According to statistics from Umetal, coke prices have surged by 40 percent in the last two months. The price of second-class metallurgical coke in East China hit CNY 1,700 per tonne to CNY 1,850 per tonne on February 3rd up by CNY 150 per tonne to CNY 250 per ton from the January's starting price.
The guiding price for coke set by Shanxi Coking Industry Association was CNY 1,750 per ton in January up by CNY 150 per tonne from the CNY 1,600 in December of 2008.
Analysts with Umetal noted that the coke price surge was caused by the production reduction and suspension of coalmines in Shanxi province before the Spring Festival, which led to the coke supply shortage. Meanwhile, the transportation volume of coal and coking coal decreased, hardly meeting demand by steel plants.
With the implementation of the government's macro-economic stimulus plan, the production of steel plants will boost demand for coking coal. Insiders hold that coke prices may fall with the end of the Spring Festival and production resumption of coalmines in March.
(Sourced from china Mining)
Americans support Buy American concept - AAM Poll - 09 Feb 2009 According to a random survey of 1,001 US adults conducted on January 29th 2009 to February 1st 2009 by Harris Interactive on behalf of the Alliance for American Manufacturing, Americans overwhelmingly support federal requirements for American made materials in all federally funded infrastructure investment in the 2009 economic recovery bill.
The national poll found 84% favor Buy American requirements. Only 4% strongly oppose the requirement and 7% somewhat oppose it. The overwhelming support was consistent regardless of gender, age, income level, education, or region.
Mr Scott Paul executive director of AAM said that "Buy American is a good deal for taxpayers and workers. US taxpayers understand the issue at hand. Buy American is longstanding US policy and consistent with our international trade obligations. The Senate should pass economic recovery legislation as soon as possible with Buy American requirements intact and reflect the will of the overwhelming majority of Americans."
Mr Paul said that "We know that Buy American enables us to create 33% more manufacturing jobs. That's why we are confident that at the end of the legislative process, the Obama Administration and Congress will agree to strong Buy American provisions."
The Alliance for American Manufacturing is a unique non partisan, non profit partnership of several leading U.S. manufacturers and the United Steelworkers.
Monday Market Monitor - MEA (WEEK 6) - Inventories push prices down - 09 Feb 2009 It is reported that the steel market in Middle East has been on the slide during the 1st week of February ’09 . The slide has been significant to the tune of 5.5% in Middle East Price Index having fallen by 272 points.
The overall fall in prices of flat products was more pronounced as MFPPI fell by massive 573 points or 8.8%, whereas the prices of long products fell by lesser amount as MLPPI reduced by 142 points or 3.4% by no means small in itself.
| Class | 02-Feb | 05-Feb | Change
| | MLPPI | 4216 | 4074 | -142
| | MFPPI | 6537 | 5964 | -573
| | MEDSPI | 4919 | 4647 | -272
| | | | |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Long products
| Category | 02-Feb | 05-Feb | Change
| | PI � Rebar | 3661 | 3501 | -160
| | PI - WRC | 4126 | 4126 | 0
| | PI - Angle | 5140 | 5004 | -137
| | PI � Structural | 5389 | 4941 | -448
| | PI � HEA | 6427 | 5759 | -668
| | | | |
Flat products
| Category | 02-Feb | 05-Feb | Change
| | PI - Narrow Plates | 6318 | 5773 | -545
| | PI - Wide Plates | 8413 | 7887 | -525
| | PI - Hot Rolled | 5414 | 4970 | -444
| | PI - Cold Rolled | 6087 | 5565 | -522
| | PI - Galvanized | 6264 | 5467 | -797
| | | | |
To know more about these indices please visit
http://steelprices-middleeast.com/spi_services/spi.html
Trend for some steel products
Rebars
BS4449 Grade 460B
| Location | CUR | Change | USD | %
| | Dubai | AED | -150 | -41 | -7.3%
| | Dammam | SAR | -50 | -13 | -2.4%
| | Bahrain | BDR | 0 | 0 | 0.0%
| | Kuwait | KDW | -2 | -8 | -1.3%
| | Qatar | QAR | 225 | 62 | 11.0%
| | Jeddah | SAR | -50 | -13 | -2.4%
| | | | | |
Change is on February 5th with respect to prices on February 2nd
Change is per tonne
Wire rod
SAE 1008
| Location | CUR | Change | USD | %
| | Dubai | AED | 0 | 0 | 0.0%
| | Dammam | SAR | 200 | 53 | 9.1%
| | Bahrain | BDR | 0 | 0 | 0.0%
| | Kuwait | KDW | 0 | 0 | 0.0%
| | Qatar | QAR | 75 | 21 | 3.4%
| | Jeddah | SAR | 200 | 53 | 9.1%
| | | | | |
Change is on February 5th with respect to prices on February 2nd
Change is per tonne
Plates 3x12
S275 JR
| Location | CUR | Change | USD | %
| | Dubai | AED | -800 | -218 | -16.0%
| | Dammam | SAR | -400 | -106 | -8.0%
| | Bahrain | BDR | -20 | -53 | -4.0%
| | Kuwait | KDW | -61 | -226 | -15.1%
| | Jeddah | SAR | -400 | -107 | -8.0%
| | | | | |
Change is on February 5th with respect to prices on February 2nd
Change is per tonne
Steel imports at prevailing low international prices coupled with the low demand and high inventory is narrowing down the buffer between retail prices and import levels and has resulted in this correction.
Say for example, in case of rebars this downward trend is due to import deal concluding at about USD 500 per tonne CFR Dubai levels. Since there is still about 500,000 tonnes of stock from previous imports at higher levels, stockiest pop up in the market to offer delivery against cash at lower levels thereby triggering a price war. As a result despite revival of demand in past 1 month the retail prices do not seem to be rebounding and in turn softening.
This phenomenon is likely to continue till end March 2009, as it is estimated that the old stocks would be exhausted by than.
However the ominous clouds of China entering the market with cheaper offers by that time is not a harbinger of market firming up.
The same reasoning applies more or less to other products as well.
Exact numbers (Prices prevailing at important cities in UAE, Saudi Arabia, Oman, Bahrain, Qatar and Kuwait) and analysis is available on our portal.
To keep tab on steel prices in Middle East on daily basis, subscribe to services of www.steelprices-middleeast.com by registering or sending a mail to admin@steelprices-middleeast.com. Please note that this is a paid service.
(Sourced from www.steelprices-middleeast.com)
BHPB bid for Rio - BHP rules out cash bid - 09 Feb 2009 Compare Shares reported that Mr Marius Kloppers CEO of BHP Billiton has ruled out a cash bid for Rio Tinto plc on technical grounds.
Mr Kloppers said that a cash bid for Rio Tinto was not possible given offshore regulators rules after the world's largest miner was rebuffed in its USD 127 billion bid for Rio Tinto.
He said that "I think that technically that is probably not possible given the UK Takeover Panel rules and the cooling off period that we indicated at the lapse of our bid that would apply."
His comments came after reports emerged Rio Tinto was in discussions with major shareholder, China's state backed aluminium group, Chinalco about a capital injection and asset sales in an effort to pay down some of its USD 57 billion of debt.
Mr Kloppers said that we think that more companies are going to have to sell assets in order to meet their short term demands, adding that the Rio Tinto assets would fit very well with BHP's portfolio.
(Sourced from Compareshares.com)
Sumitomo Metal sees steady energy pipe demand in 2009 - 09 Feb 2009 Platts quoted Mr Fumio Hombe VP of Japanese steelmaker Sumitomo Metal Industries as saying that it expects demand for steel pipe used for energy pipelines to stay steady in 2009 while demand from other sectors falls. He added that demand for seamless steel pipe used for oil and natural gas development projects has changed little amid falling global oil prices.
Mr Hombe said that "The energy majors continue to be interested in pursuing resource development and the trend for seamless pipe demand stays firm. This market is different from other steel markets."
Some of Sumitomo Metal's recent orders include 100,000 tonnes of welded steel pipe for a 360 kilometers crude oil pipeline connecting Habshan oil field to the port of Fujairah in the United Arab Emirates.
He said that "Due to volatile oil prices, some national oil companies partnering with the energy majors have implemented cost cutbacks, but I expect in the second half of 2009, demand will come back."
Sumitomo Metal is currently running its two seamless pipe plants in Japan at almost full capacity. The plants have a combined capacity of 1.22 million tonnes per year of pipes. It also produces welded pipe at the Kashima steelworks near Tokyo, which is currently undergoing expansion.
As a result of demand slumps in the construction, machinery and automotive sectors, Sumitomo Metal itself plans to cut crude steel output to 2.66 million tonnes in Q1 from 3.36 million tonnes in the previous quarter, Q4 of 2008.
(Sourced from www.platts.com)
Monday Market Monitor - China (WEEK 6) - Market remains lukewarm - 09 Feb 2009 There was improvement in all kinds of products except for HRC in Chinese domestic market.
The tempo of market revival seems to be set for the time being especially for steel use din construction on the backdrop of Chinese government move for spending on infrastructure.
The pitfalls are ominous on the other side as mills get back to their normal production supplemented by increased import on the other hand in anticipation of better realization.
This trend is not reflected in the exports as all attempts at price increase has come out to be cropper due to lack of favorable international sentiments.
Billets
150*150
Q235
| Location | CNY | USD | %
| | Jiangsu Province | 70 | 10 | 2.0%
| | Shandong Province | 150 | 22 | 4.3%
| | Hebei Province | 100 | 15 | 3.0%
| | Shanxi Province | 0 | 0 | 0.0%
| | Shaanxi Province | 0 | 0 | 0.0%
| | Tianjin | 100 | 15 | 3.0%
| | Fujian Province | 140 | 20 | 4.0%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
WRC
6.5mm
Common
| Location | CNY | USD | %
| | Shanghai | 130 | 19 | 3.4%
| | Hangzhou | 70 | 10 | 1.8%
| | Nanjing | 100 | 15 | 2.6%
| | Hefei | 200 | 29 | 5.2%
| | Changsha | 130 | 19 | 3.4%
| | Zhengzhou | 150 | 22 | 4.1%
| | Chengdu | 250 | 37 | 5.9%
| | Guiyang | 230 | 34 | 5.5%
| | Kunming | 270 | 39 | 6.6%
| | Lanzhou | 180 | 26 | 4.5%
| | Urumchi | 100 | 15 | 2.5%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
Rebar
20mm
HRB 400
| Location | CNY | USD | %
| | Shanghai | 140 | 20 | 3.6%
| | Hangzhou | 160 | 23 | 4.1%
| | Nanjing | 70 | 10 | 1.7%
| | Jinan | 120 | 18 | 3.0%
| | Hefei | 170 | 25 | 4.1%
| | Fuzhou | 0 | 0 | 0.0%
| | Nanchang | 60 | 9 | 1.5%
| | Guangzhou | 80 | 12 | 1.9%
| | Changsha | 250 | 37 | 5.8%
| | Wuhan | 280 | 41 | 6.7%
| | Zhengzhou | 140 | 20 | 3.5%
| | Beijing | 100 | 15 | 2.6%
| | Tianjin | 130 | 19 | 3.3%
| | Shijiazhuang | 110 | 16 | 2.8%
| | Taiyuan | 100 | 15 | 2.5%
| | Shenyang | 110 | 16 | 2.9%
| | Harbin | 130 | 19 | 3.4%
| | Chongqing | 320 | 47 | 7.2%
| | Chengdu | 120 | 18 | 2.7%
| | Guiyang | 240 | 35 | 5.4%
| | Kunming | 240 | 35 | 5.5%
| | Xian | 240 | 35 | 5.7%
| | Lanzhou | 100 | 15 | 2.4%
| | Urumchi | 100 | 15 | 2.3%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
HRC
4.75mm
Common
| Location | CNY | USD | %
| | Shanghai | -50 | -7 | -1.3%
| | Hangzhou | -40 | -6 | -1.0%
| | Nanjing | -30 | -4 | -0.8%
| | Jinan | 0 | 0 | 0.0%
| | Hefei | 60 | 9 | 1.5%
| | Fuzhou | 0 | 0 | 0.0%
| | Nanchang | 20 | 3 | 0.5%
| | Guangzhou | -30 | -4 | -0.8%
| | Changsha | 50 | 7 | 1.2%
| | Wuhan | 0 | 0 | 0.0%
| | Zhengzhou | 0 | 0 | 0.0%
| | Beijing | -50 | -7 | -1.3%
| | Tianjin | -100 | -15 | -2.6%
| | Shijiazhuang | -20 | -3 | -0.5%
| | Taiyuan | -50 | -7 | -1.3%
| | Shenyang | -70 | -10 | -1.9%
| | Harbin | 50 | 7 | 1.3%
| | Chongqing | -50 | -7 | -1.2%
| | Chengdu | -30 | -4 | -0.7%
| | Kunming | 50 | 7 | 1.2%
| | Xian | 200 | 29 | 4.8%
| | Lanzhou | 160 | 23 | 3.9%
| | Urumchi | 0 | 0 | 0.0%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
Plates
20mm
Common
| Location | CNY | USD | %
| | Shanghai | 200 | 29 | 5.0%
| | Hangzhou | 100 | 15 | 2.5%
| | Nanjing | 100 | 15 | 2.5%
| | Jinan | 180 | 26 | 4.5%
| | Hefei | 150 | 22 | 3.7%
| | Fuzhou | 100 | 15 | 2.5%
| | Nanchang | 100 | 15 | 2.4%
| | Guangzhou | 150 | 22 | 3.7%
| | Changsha | 200 | 29 | 4.8%
| | Wuhan | 50 | 7 | 1.3%
| | Zhengzhou | 50 | 7 | 1.3%
| | Beijing | 120 | 18 | 3.1%
| | Tianjin | 100 | 15 | 2.6%
| | Taiyuan | 130 | 19 | 3.4%
| | Shenyang | 50 | 7 | 1.3%
| | Harbin | 100 | 15 | 2.5%
| | Chongqing | 100 | 15 | 2.4%
| | Chengdu | 50 | 7 | 1.2%
| | Kunming | 100 | 15 | 2.4%
| | Xian | 180 | 26 | 4.5%
| | Lanzhou | 200 | 29 | 4.9%
| | Urumchi | 150 | 22 | 3.9%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
CR
1.0mm
Common
| Location | CNY | USD | %
| | Shanghai | -50 | -7 | -1.1%
| | Hangzhou | 20 | 3 | 0.4%
| | Nanjing | 150 | 22 | 3.2%
| | Jinan | 150 | 22 | 3.2%
| | Qingdao | 50 | 7 | 1.1%
| | Hefei | 250 | 37 | 5.3%
| | Fuzhou | 100 | 15 | 2.1%
| | Nanchang | 90 | 13 | 1.9%
| | Guangzhou | 50 | 7 | 1.0%
| | Changsha | 200 | 29 | 4.1%
| | Wuhan | 100 | 15 | 2.1%
| | Zhengzhou | 200 | 29 | 4.2%
| | Beijing | 100 | 15 | 2.1%
| | Tianjin | 100 | 15 | 2.1%
| | Shijiazhuang | 50 | 7 | 1.0%
| | Taiyuan | 100 | 15 | 2.0%
| | Shenyang | 100 | 15 | 2.1%
| | Harbin | 0 | 0 | 0.0%
| | Chongqing | 100 | 15 | 2.0%
| | Chengdu | 70 | 10 | 1.5%
| | Kunming | 100 | 15 | 2.1%
| | Xian | 400 | 59 | 8.0%
| | Lanzhou | 0 | 0 | 0.0%
| | Urumchi | 200 | 29 | 4.7%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
HDG
0.5mm
Common
| Location | CNY | USD | %
| | Shanghai | 20 | 3 | 0.4%
| | Hangzhou | -50 | -7 | -1.0%
| | Beijing | 100 | 15 | 2.0%
| | Tianjin | 150 | 22 | 3.0%
| | Boxing | 100 | 15 | 2.1%
| | Guangzhou | 70 | 10 | 1.3%
| | Zhengzhou | 200 | 29 | 4.0%
| | Xian | 0 | 0 | 0.0%
| | Shenyang | 100 | 15 | 2.0%
| | Harbin | 100 | 15 | 2.0%
| | Nanchang | 0 | 0 | 0.0%
| | Fuzhou | 0 | 0 | 0.0%
| | Chongqing | 100 | 15 | 1.9%
| | Wuhan | 0 | 0 | 0.0%
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
Exports
The export levels remain unchanged except for plates showing lack actual deals being concluded at these levels:
| Item | Grade | Size | Change
| | Billet | Q235 | 150x150 | 0
| | Rebar | HRB400 | 12-25mm | 0
| | Wire rod | Q195 | 5.5-12mm | 5
| | HRC | SS 400 | 4.5-11mm | 0
| | Plates | SS 400 | 12-40mm | 35
| | CRC | SPCC | 1.0x1250 | 0
| | HDG | SGCC | 1.0x1250 | 0
| | | | |
Change on February 6th with respect to prices on January 23rd 2009
Change is per tonne
Delivery FOB China port
To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.
(Sourced from www.steelprices-china.com)
POSCO to further cut stainless steel prices by 14% - 09 Feb 2009 Reuters reported that POSCO had cut stainless steel prices by up to 14% in its second price reduction in 6 months to reflect falling input costs and weak demand. It said that "The move is to respond to imports of cheaper stainless products from Japan and Taiwan as well as to reflect falling ferrochrome prices."
It may be noted that POSCO has cut prices and production of stainless steel products since the third quarter of 2008 as buyers delay purchases on expectations of lower prices. But it had to expand production cuts in the fourth quarter, cutting output by 38% from the previous quarter, as a deepening global economic downturn hit the steel industry hard and weakened demand for rustproof stainless steel, used in products ranging from kitchenware to machinery and aircraft.
POSCO said that prices of its benchmark hot rolled stainless steel will fall by KRW 500,000 or 14% to KRW 3.15 million and value added cold rolled products also drop by KRW 500,000 or 13% to KRW 3.42 million.
(Sourced from www.reuters.com)
US DOC conducts AD duty review on Turkish carbon steel pipes - 09 Feb 2009 In response to a request by domestic interested party, Allied Tube and Conduit Corporation, the US department of commerce is conducting an administrative review of the antidumping duty order on certain welded carbon steel pipe and tube from Turkey.
The review covers the Borusan Group 1 and Toscelik Profil ve Sac Endustrisi AS, each a producer and exporter of the subject merchandise. We preliminarily determine that Borusan made sales below normal value. If these preliminary results are adopted in our final results, we will instruct US Customs and Border Protection to assess antidumping duties based on the difference between the export price and the NV.
The Borusan Group includes Borusan Mannesmann Boru Sanayi ve Ticaret AS and Borusan Istikbal Ticaret TAS and other affiliated companies.
It may be noted that on May 15th 1986, the department published in the Federal Register the antidumping duty order on welded pipe and tube from Turkey. On May 5th 2008, the Department published a notice of opportunity to request an administrative review of this order.
6 iron ore mining companies in Bellary booked - 09 Feb 2009 The Hindu reported that the Forest Department has registered forest offence cases against 6 mining companies in Bellary district for allegedly encroaching the forest land for the purpose of extracting iron ore illegally.
These 6 cases, booked during last week are in addition to the 9 cases booked against different mining companies in the district in May 2008 taking the total to 15.
According to Mr Muthaiah deputy conservator of Forests, Bellary Division, the action by the Forest Department came in the wake of recommendations made by Lokayukta, who investigated the alleged illegal mining activities in Karnataka and submitted a detailed report. Of 99 mining leases listed in the Lokayukta report, 80 mining leases are on forest land, of which 58 are shown as having encroached the forest land.
Mr Muthaiah said that action was initiated against 15 mining companies based on the surveyed sketches or maps which were made available by the Lokayukta. The machineries and minerals on the spot were seized besides giving instructions to stop the mining activities immediately.
He said that during the investigation that would follow, assessment of the extent of ore that was mined from the encroached land would be made besides calculating the value and the loss caused to the State exchequer.
(Sourced from The Hindu)
Sunsco builds USD 35 million steel mill in Binh Duong - 09 Feb 2009 Vietnam News Agency reported that Sun Steel Joint Stock Company has begun the construction of a steel mill in Tan Dong Hiep commune, Di An district, southern Binh Duong province at a cost of more than USD 35 million.
The project will have two main production systems to produce rolled steel and steel pipes. It is expected to start operation in March 2010 with a capacity of 10,000 tonnes of products a month. The mill will be capable of producing 16 inch steel pipes meeting the API standard to provide for construction projects and the oil and gas industry.
Sunsco was established in 1996 and has been operating since 1998 in Binh Duong province. By 2008, Maruichi Group acquired 62.56% of Sunsco shares and became its parent company. It currently produces 6,000 tonnes of cold rolled, galvanized steel, 4,000 tonnes of rolled, galvanized, pre painted steel, 4,000 tonnes of steel pipes and 5,000 tonnes of steel rods a month.
(Sourced from vietnamnet.vn)
New coal and iron ore reserve found in Chhattisgarh - 09 Feb 2009 PTI reported that new coal reserves and iron ore deposits have been identified in Chhattisgarh. As per report Economic Survey for the year 2008-09, new iron coal reserves of about 90 million tonne and ore reserves estimated to be in the range of 23 million tonne, bauxite reserves to the tune of 3.48 million tonne have been identified in various districts of Chhattisgarh in last year.
However, the new iron ore deposits of about 15 million tonne have been found in Kanker district, 5 million tonne in Dantewada district and 2.8 million tonne in Rajnandgaon district has been detected.
Similarly, new coal deposits of 50 million tonne in Korba district and 40 million tonne in Raigarh district have been identified.
The report further said that a new lime stone reserve with an estimated capacity of 55 million tonne has also been detected in Rajnandgaon district where bauxite reserves of 3.49 million tonne have been detected in Sarguja and Kabir dham districts.
Meanwhile, Chhattisgarh accounts for 23% of the total iron ore deposits and 18% of the total coal deposits in the country.
(Sourced from Press Trust of India)
USW and steel executives push Buy America plan - 09 Feb 2009 Executives from the steel industry and the United Steelworkers told Congress that a Buy America provision in the proposed economic stimulus bill will help American companies and workers without triggering a trade war.
Mr Leo W Gerard president of USW said that "The country is in the midst of the fastest, most severe economic downturn since the Great Depression. In 2008, the United States lost 2.6 million jobs, the largest loss in over 60 years, and so far this year is not any better. This is a time for economic patriots."
Mr Gerard and steel executives said that the Buy America provisions in the USD 900 billion stimulus package would benefit workers and steel companies by requiring use of domestically produced steel in any government funded infrastructure projects. He added that "Buy America provision does not break any existing US trade obligations and will not ignite a trade war."
Mr Daniel DiMicco CEO of Nucor Inc, Mr John Surma CEO of US Steel Corporation and other executives rebuffed criticism of Buy America provisions. They said that agreements covering such provisions are written into World Trade Organization rules.
Mr David Phelps executive director of American Institute for International Steel said that the proposed Buy America requirement essentially freezes foreign competition out of the stimulus effort. He added that the association does not object to existing 1980s era provisions for using domestic steel in highways, bridges, airports and mass transit projects, but the United States should negotiate new rules with its trading partners.
He said that "All the European Economic Union and Canada would retaliate under WTO rules and it would, in turn, hurt major exporters to governments around the world. This is a job killer, not a job creator."
It may be noted that US steel industry has cut output and laid off thousands of workers since mid 2007. US Steel reported last month that its mills were running at about 45% of capacity at the end of 2008. The industry wants the government to curb imports from China doubled in the second half of 2008 to 6.4 million tonnes from 3.2 million tonnes in the first half.
(Sourced from www.congoo.com)
Sphere investments seeks partner for Mauritania Iron Project - 09 Feb 2009 Bloomberg reported that Sphere Investments Limited has looking for a strategic partner to take a 51% stake in the project.
Mr Alexander Burns MD of the Australian company said that “We are confident we will be able to bring a partner.”
He said that 25 companies are involved in the process.
Mr Burn said that “In the next quarter we may close the deal.”
(Sourced from Bloomberg)
Vietnamese January steel imports fell by 74% YoY - 09 Feb 2009 According to Vietnam Steel Association, construction steel imports in January 2009 fell by 74% YoY to 100,000 tonnes, worth USD 39 million.
Mr Pham Chi Cuong chairman of VSA said that domestic steel firms still have about 400,000 tonnes of construction steel in stock and can meet 60 percent of the country’s demand.
According to General Statistics Office, Vietnam imported 150,000 tonnes of steel in all at USD 116 million for construction, auto manufacturing and other purposes, down by 45% YoY.
(Sourced from www.commodityonline.com)
Production pruning -January roll output down by 35% YoY - 09 Feb 2009 Ukrainian Journal Staff quoted the Industrial Policy Ministry said Ukraine's steel industry reduced finished roll output 35%YoY in January to 2 million tonnes.
Crude steel production plummeted 42% to 2.123 million tonnes and pig iron fell 38% to 1.867 million tonnes.
The country produced 84,000 tonnes of steel pipes, down 48%YoY. Iron ore concentrate production fell 37% to 3.371 million tonnes, prepared iron ore fell 33% to 3.966 million tons, including pellets - 29% to 1.291 million tons and sinter ore down by 35% to 2.676 million tonnes and crude iron ore down by 37% to 4.217 million tonnes.
(Sourced from Ukrainian Journal Staff)
Chinese plate export price further increase - 09 Feb 2009 It is reported that Chinese steel plate export market saw evident increase from late January and there have been some transaction of exports.
On Shanghai market, commercial 16mm plate by Yingkou steel jumped to CNY 4050 per tonne. That for commodity grade 14mm to 16mm plate by tier two steel remain flat to CNY 4050 per tonne. CCSB 16mm ship plate price rose by CNY 50 per tonne to CNY 4000 per tonne. Q245R16 boiler plate surged by CNY 150 per tonne to CNY 4250 per tonne.
Offers for commodity grade plate by tier two steel makers went up by USD 30 per tonne to USD 600 per tonne FOB and transaction level is about USD 580 per tonne to USD 590 per tonne.
Ship plate prices see little change. Prevailing price for 2.0mm up material goes at USD 730 per tonne to USD 750 per tonne FOB with contract price at about USD 730 per tonne to USD 740 per tonne FOB.3mm and up ship plate is being tagged at USD 770 per tonne to USD 780 per tonne FOB.
(Sourced from MySteel.net)
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Azovstal increased output of major products in January - 09 Feb 2009 In January Azovstal Steel Plant increased pig iron and steel production performance indicators. Pig iron production increased by 12.600,00 tonnes to 207.700,00 tonnes compared to December 2008, and steel production increased by 20.800,00 tonnes to 240.000,00 tonnes compared to December 2008.
The plant increased rolled products output in January it increased by 31.800,00 tonnes to 221.700,00 tonnes compared to December 2008. In January 2009 the plant increased production of bulk coke by 48.100,00 tonnes to 145.300,00 tonnes compared to December 2008.
The increase in the volumes of production is caused by a slight recovery in the metals market.
| Products | Jan'09 | Dec'08 | Change
| | Pig Iron | 207,7 | 195,1 | 6,5
| | Steel (steel making) | 240,0 | 219,2 | 9,5
| | Rolled products | 221,7 | 189,9 | 16,7
| | Bulk coke | 145,3 | 97,2 | 49,5
| | | | |
(In ‘000 tonnes)
Shougang Hierro to invest USD 1 billion in Peru - 09 Feb 2009 AFP reported that the Chinese owned mining company Shougang Hierro Peru is to invest one billion dollars to expand production at its plant in southern Peru by 10 million tonnes per year.
Mr Wu Bin after meeting with Mr Alan Garcia Peruvian President said "The investment of one billion dollars will help expand the plant's production capacity by 10 million tonnes per year. He said he hoped the plant's expansion would be operational by the end of 2010.
Shougang Hierro Peru is a private company that extracts and processes iron ore. Its main mining and metallurgical operations are located 530 kilometers south of Lima in the San Juan de Marcona district, in Nazca province.
The company is owned by China's Shougang Group, which took over mining management and operations in January 1993. It is one of the top five exporters to China.
(Sourced from AFP)
Ladle of molten steel spills at ArcelorMittal Indiana Harbor - 09 Feb 2009 AP quoted Mr Tom Hargrove president of United Steelworkers Local 1010 as saying that a fast thinking crane operator helped safeguard workers when a ladle filled with molten steel tipped over at an ArcelorMittal steel mill.
No one was injured in the accident at the Indiana Harbor steel mill in East Chicago when the ladle tipped and spilled 120 tonnes of liquid metal onto the floor.
Mr Tom Hargrove said that workers could have been badly hurt if a crane operator had not managed to steer the ladle into an unoccupied part of the plant. He added that the crane operator's quick thinking allowed the liquid steel to spill harmlessly onto the sand and gravel floor, where it left behind a big, black pancake.
It may be noted that a joint union ArcelorMittal investigation is looking into the accident.
(Sourced from www.examiner.com)
Turkish steel export in January 2009 up by 21% YoY - 09 Feb 2009 According to data from Steel Exporters Association & Istanbul Iron, in January 2009 Turkey increased steel export by 21.8% YoY. It was caused mainly by demand growth from Egypt.
The Turkish Steel Exporters Association said in a report that total volume of steel export form Turkey in January 2009 was 1.63 million tonnes. In the similar period of 2008 it was 1.34 million tonnes.
According to the data from Steel Exporters Association, Turkey is the biggest exporter of long products to Middle East market.
As per its figures, export of re bar from Turkey to Egypt in January 2009 was 293 000 tonne which is by 30% less than in January 2008. Re bar export from Turkey in January 2009 grew by 31%, to 963 233 tonne, rod iron supplies also grew to 100 690 tonne comparing to 40 381 in 2008. Steel semis export grew by 19%, to 135 438 tonne against 113 971 tonne in 2008).
Mr Serdar Kocturk, president of Istanbul Iron & Steel Exporters' Association said that in January 2009 re bar export made averagely 60% form the total steel export from Turkey.
Nevertheless, he added that in February 2009, this factor can decrease due to scrap prices decrease. He noted that “Scrap prices began to decrease as in Europe as in Turkey, Scrap prices in Italy is about EUR 190 FOB. At the same time Turkish steel producers are ready to buy scrap at USD 235 to USD 245 per tonne. Meanwhile, last year the prices level fluctuated between USD 280 and USD 285 per tonne.”
Besides, Mr Kocturk also said that “Now re bar buyers are trying to decrease the prices to USD 450 to USD 465 per tonne FOB”. He added that current re bar price fluctuates averagely from USD 480 to USD 490 per tonne FOB.
He also said that export supplies from Turkey to Algeria in January 2009 was 70 938 tonne. However, in future this factor will decrease due to 15% tax and euro weakening. He noted that “Turkish steelmakers can not compete anymore with Spanish ones which export to Algeria.”
Export from Turkey to Dubai in January 2009 saw 102 813 tonne. However, this volume also includes shipments on earlier concluded contracts, which terms were moved. According to Mr Kocturk’s words, we should not expect demand growth from Dubai as there is much steel in stocks.
When export situation in Turkey market is positive, price situation at LME follows the same trend. Thus, on 4 February LME price trend followed growth dynamics. The biggest prices growth was seen for Mediterranean futures contracts.
Official LME prices for Mediterranean steel semis on February 4th 2009 were USD 430 per tonne for the shipments at once and USD 335 per tonne for the shipments in three months. For Far East semis the prices were USD 295 per tonne for the shipments at once and USD 300 per tonne for the shipments in 3 months.
(Source from www.ruslom.ru)
Production pruning - Ukrainian pipe production in January dips - 09 Feb 2009 According Ukrtrubprom Association preliminary data shows that Ukrainian pipe producers cut production by 48.1%YoY in January 2009 to 84500 tonnes. The production also was lower compare to December 2008. Only Khartsyzsk Tube Works the CIS biggest and Ukrainian only extra large diameter pipe producer increased its output YoY, HRTR also decreased production by MoM as well as other pipe producers.
Pipe manufacturers and traders are waiting for spring time when pipe market traditionally revives. January price increase can push the traders to buy right now to make up the stores in expectations of further price rising.
South Africa 2009 coal exports seen at best 67 million tonnes - 09 Feb 2009 Reuters reported that South Africa's thermal coal exports could reach 67 million tonnes at best in 2009, up from around 61 million in 2008.
Senior sources coal mining companies said that predictions depended partly on Transnet Freight Rail's ability to move coal and the level of rain.
One senior source who declined to be identified said that "It's hard to accurately forecast what the exports will be this year. For sure, 70 million tonnes or any number beginning with a 7 is impossible, despite theoretical port capacity of 82 million tonnes at Richards Bay. He said that if everything goes smoothly, there are no major derailments, if there is no very heavy rain which slows mine production, and then perhaps we could make 67 million or even 68 million tonnes. If there are problems, it could be as low as 65 million tonnes."
Other mining sources agreed that it is too early in the year to have a clear feel for the final export number. Only 4 million tonnes were shipped from Richards Bay Coal Terminal in January, which needs to move over 5 million a month to reach an annual figure in the high 60s. This was partly due to a derailment, which lost around 500,000 tonnes from the system. They said that TFR has improved its efficiency during the past six weeks and coal has been flowing more quickly and smoothly to the terminal
Another senior mining source said that “previous you have to give TFR some credit. Recently they've been doing a much better job. People are communicating, we know what's happening and the whole system is working much better. They said that TFR has also been helped in part by a fall in rail freight of steel and steel related products such as ferroalloys, which has made more trains available for coal.”
The source said that State utility Eskom has been buying far less spot coal from miners compared to early 2008, when Eskom was buying whatever it could and taking export destined coal as emergency supply during South Africa's power crisis.
Probably 5 million tonnes of export destined coal was diverted to Eskom by the major mining houses in early 2008 but this did not equate neatly to a cut of 5 million in exports. Eskom's emergency buying did reduce exports but by far less than 5 million tonnes diverted. The drying up of Eskom's emergency spot buying this year may also be a factor in the projected rise of South African exports but it will be a marginal factor only.
(Sourced from Reuters)
US ITC to conduct review on malleable cast iron pipe fitting from China - 09 Feb 2009 The US International Trade Commission voted to expedite its five year review concerning the antidumping duty order on imports of malleable cast iron pipe fittings from China.
As a result of recent vote, the Commission will conduct an expedited review to determine whether revocation of the order concerning these products would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.
The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the ITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies and of material injury within a reasonably foreseeable time.
The Commission's notice of institution in five-year reviews requests that interested parties file with the Commission responses that discuss the likely effects of revoking the order under review and provide other pertinent information. Generally within 95 days from institution, the Commission will determine whether the responses it has received reflect an adequate or inadequate level of interest in a full review. If responses to the ITC's notice of institution are adequate, or if other circumstances warrant a full review, the Commission conducts a full review, which includes a public hearing and issuance of questionnaires.
The Commission generally does not hold a hearing or conduct further investigative activities in expedited reviews. Commissioners base their injury determinations in expedited reviews on the facts available, including the Commission's prior injury and review determinations, responses received to its notice of institution, data collected by staff in connection with the review, and information provided by the Department of Commerce.
All six Commissioners concluded that the domestic group response for this review was adequate and the respondent group response was inadequate and voted for an expedited review.
The Federal Register notice will indicate whether any further information or statements will be available. Only parties that filed adequate responses and filed a timely notice of appearance are eligible to participate further in this review. The Commission will issue a report after it completes its review.
Macroeconomic indicators - US sees record unemployment rate in 35 years - 09 Feb 2009 It is reported that recession battered employers eliminated 598,000 jobs in January 2009, the most since the end of 1974, and catapulted the unemployment rate to 7.6%. The grim figures were further proof that America's job climate is deteriorating at an alarming clip with no end in sight.
The Labor Department's report showed that the terrible toll the drawn out recession is having on workers and companies. It also puts even more pressure on Congress and President Mr Barack Obama's administration to revive the economy through a stimulus package and a revamped financial bailout plan, both of which are nearing completion.
The latest net total of job losses was far worse than the 524,000 that economists expected. Job reductions in November and December 2008 also were deeper than previously reported. With cost cutting employers in no mood to hire, the unemployment rate bolted to 7.6% in January 2009, the highest since September 1992. The increase in the jobless rate from 7.2% in December also was worse than the 7.5% rate economists expected.
Factories slashed 207,000 jobs in January 2009, the largest one month drop since October 1982, partly reflecting heavy losses at plants making autos and related parts. Construction companies got rid of 111,000 jobs. Professional and business services chopped 121,000 positions. Retailers eliminated 45,000 jobs. Leisure and hospitality axed 28,000 slots.
With no place to go, the number of unemployed workers climbed to 11.6 million. In addition, 7.8 million people were working part time, a category that includes those who would like to work full time but whose hours were cut back, or those who were unable to find full time work. The average time it took for an unemployed person to find any job full or part time rose to 19.8 weeks in January 2009 as compared with 17.5 weeks a year ago, underscoring the increasing difficulty the out of work are having in finding a new job.
Americans cut back sharply on spending at the end of 2008, thrusting the economy into its worst backslide in a quarter century. The tailspin could well accelerate in the current January to March 2009 quarter to a rate of 5% or more as the recession drags on into a second year, and consumers and businesses burrow deeper.
Emirates Steel Industries implements SAP in record time - 09 Feb 2009 Emirates Steel Industries said that they have successfully activated their new fully integrated SAP business systems in a short implementation period of just over 7 months.
Launched in May 2008, the SAP implementation project has successfully met its 'Go Live' target date of January 5th 2009.
ESI partnered with both SAP MENA LLC, as well as with SATYAM, for implementation. A cross functional team within ESI, including many skilled Emiratis, was led by Mr Soumyajit Ghosh, ESI's project manager, to drive the project to coincide with ESI's enhanced production plan. A total of 11 SAP modules were implemented, covering all of ESI's business processes.
Mr Hussain Al Nowais chairman of ESI said in a statement that “It has been truly a remarkable achievement for ESI to implement the SAP business information system within such a short span of time, and this streamlined activation integrates well with our expansion plans. The system will now support the accurate and timely information needs of our ambitious business plans.”
Mr Al Nowais, also the chairman of Abu Dhabi Basic Industries Corporation, which owns ESI, explained that ESI is continuing with its multi billion dirham expansion plans in line with the Abu Dhabi 2030 Vision. ESI is in the midst of testing its electric arc furnace Steel Making Plant, the first in the UAE, and expects steel production to commence in the first quarter of 2009.
Mr Jim White, acting CEO of ESI, commented that “Among the many SAP implementation projects that I have handled in my career, this implementation has been one of the quickest ones. It would not have been possible without the impressive teamwork and commitment of those involved, who dedicated their time and effort to the project, over and above their regular job routine and responsibilities, during the last seven months.”
ESI said that it intends to expand the SAP system later this year to cover advanced modules and extend web enabled business services to customers and suppliers.
ESI's first phase of expansion will increase their production capacity to 1.8m tonnes in 2009 from just 700,000 tonnes in previous years. The fully integrated business information system will help to support ESI's sharp increase in production.
Production pruning - Ukrainian iron ore production in January dips - 09 Feb 2009 Ukrainian Journal reported that most Ukrainian mines reduced iron ore production in January amid slackening demand.
Poltava Mining, the core asset of Ferrexpo plc, said it cut commercial pellet production tentatively 31.9%YoY to 514,000 tonnes. Iron ore concentrate production fell 30.5% to 613,000 tonnes. PGOK exports most of its pellets.
Northern Mining and Beneficiation Plant, from Kry Amid slackening demand,vy Rih, told Interfax that it reduced commercial pellet production 32.3%YoY in January to 586,000 tonnes. Iron ore concentrate output fell 15.7% to 976,000 tonnes.
(Sourced from Ukrainian Journal Staff)
Update on Buy American stimulus package - 09 Feb 2009 It is reported that Buy American violates the North American free trade agreement, but US President Mr Obama has vowed to renegotiate or, failing that, rip up NAFTA, so has little stake in coming to its defense. He said that the time has come to make difficult decisions. This is one of them.
Mr Brad DeLong, who worked on trade issues in the Clinton administration and teaches economics at University of California, said that "It looks like a very bad thing in the bill. Pressure from the Canadian government saying, do you really want to do this is important."
The White House could try to convince the Democratic leadership to strip the anti trade measures from the bill, both before it is voted on by the Senate and during the conference to reconcile the House and Senate versions of the bill.
If that fails, then Mr Obama could issue what is called a signing statement saying the Buy American provisions of the bill violate treaty obligations. That might effectively veto the measures
(Sourced from wallstreetblips.dailyradar.com)
Russian steel imports in 2008 down by 22%YoY - 09 Feb 2009 Prime-tass quoted the data from the Federal Customs Service shows that Russian ferrous metals import decreased by 21.9 %YoY to 5.263 million tonnes in 2008.
Purchase price made USD 6.367 billion against USD 5.717 billion in 2007. In far abroad countries ferrous metals purchases made 1904,000 tonnes for USD 2803.4 million.
Import of steel tubes and pipes to Russia reduced in 2008 by 36.4%, to 948,800 tonnes. The purchase price made USD 1785.4 million against USD 2409.5 million a year earlier. In far abroad countries 398,300 tonnes of tubes and pipes were purchased for USD 958.3 million.
(Sourced from Prime-Tass)
FMG January iron ore shipments fell to 1.9 million tonnes - 09 Feb 2009 Dow Jones Business News cited Mr Graeme Rowley executive director of Fortescue as saying that Fortescue Metals Group Limited shipped about 1.9 million tonnes of iron ore from its operations in the Pilbara region of Western Australia State in January.
According to the Port Headland Port Authority, the shipments represent a fall from December, when Fortescue shipped 2.67 million tonnes of ore.
Mr Rowley said that the fall in shipments was due to a maintenance outage as well as a brief outage following the death of a worker. He said that there have been shipments since the end of January, which had taken the miner's year to date shipments to 2.4 million tonnes.
Fortescue is targeting monthly production of 3.6 million tonnes, which it hopes to achieve later this year. Fortescue expects to produce 23.8 million tonnes of ore in the H2 of the financial year ending June 30th, which would take output for the full financial year to 39 million tons.
Australian iron miners have seen a sharp drop in demand from Asian steel makers, with some customers seeking to defer iron ore shipments due to weakness in the steel market.
(Sourced from Dowjones Business News)
Directory of Steel Pipe Makers in China - 09 Feb 2009 Welded pipe and seamless pipe are the two major categories of tubular products in China and are not only used domestically but are exported across the world.
China's seamless pipe enterprises began expansion from 2004. By end of 2006, the nation's capacity of this products reached 16.5 million tonnes. As the world's first producer, China has over 300 seamless steelmakers, a part of which possess first rate manufacturing technology and most advanced facilities, bringing domestic sufficiency close to 90%.
On welded pipe, the producers are distributed more scattered, bulk of which are privately owned and have a relatively big capacity. Yet, many productions are affected by seasonal factors and actual output can be less than the total capacity of 37 million tonnes. ERW accounts for around 80% of the total welded pipe production capacity.
Published in December 2008, 'Directory of Steel Pipe Makers in China ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Chinese steel pipe industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report covers name and product details of 1208 steel pipe manufacturers of China in alphabetical as well as location wise order. Look at the information you'll get in the 'Directory of Steel Pipe Makers in China'
• Company name -1208 entries
• Address-1208 entries
• Email-1193 entries
• Phone number-1207 entries
• Fax number -1203 entries
• Mob -487 entries
Format: PDF File
Total no of pages - 629
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