Beursonline.nl

voda 16 november 2012 16:12

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CISA sees Chinese steel capacity crossing 1 billion tonnes in 2012

According to the survey throughout China conducted by CISA, the steel making capacity comes into shape aggregate 970 million tonnes at the end of 2011 and the figure may break 1 billion tonnes in 2012.

Mr Wang Xiaoqi VP of China Iron and Steel Association said that China steel industry's crux would be intensified as domestic total steel capacity is likely to surpass 1 billion tonnes in 2012.

For China steel market in future, Mr Wang thought the market would present a better performance compared to Q1 to Q3 2012, with reasons to include: most of the finished steel products are produced when the iron ore price fell down to a low level; domestic steel consumption would go up with increasing fixed assets investment in Q4. But the capacity goes higher than demand, then the likelihood for regional oversupply to appear seems high. At present, there isn't strong incentive for continuing steel price rally and it takes time to see if the market could maintain stable for a long period.

The overcapacity leaves no room for reasonable market competition and leads to weak pricing capacity for domestic steel mills and traders, in addition to rising raw material prices which are not successfully passed to downstream consumers.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 16 november 2012 16:14

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Economic & steel market outlook for Q4 has darkened further

EUROFER's Q4 2012 Economic & Steel Market Outlook shows that the outlook for the EU steel market has darkened further in recent months.

Low levels of confidence reflect that uncertainty has taken hold across all sectors of the EU economy, from the financial and retail sector to services, industry, construction and consumers, fuelling risk aversion and stifling growth. However, while the EU is clearly the weakest link, also support of exports is fading due to slowing global economic growth.

Mr Gordon Moffat director general of EUROFER said that "Our downstream customers in manufacturing and construction face a steady erosion of orders books. They buy only steel products for immediate needs, waiting for the business climate to improve."

Key question is what could change sentiment to the extent that risk aversion starts to fade and investment and private consumption will strengthen again.

Mr Gordon Moffat said that "The ECB has done its part; it is now up to the governments to reach more consensus about the way forward and make a decisive turn in fighting the crisis."

The current outlook is based on the assumption of a further major escalation of the Eurozone debt crisis being prevented. Another assumption is the global economy will overcome current headwinds. This should translate in a moderate improvement in international trade in 2013. Nevertheless, risks and uncertainties are mounting, now the rest of the world is no longer decoupled from what is happening in the EU.

Production in the steel using sectors will fall by 3% this year; 2013 will see a minor further decline. As steel intensity is also declining, real steel consumption will fall by 4% in 2012, followed by a slight drop in 2013.

Apparent steel consumption is seen falling 9% in 2012. The seasonal post summer recovery in bookings did not occur; instead customers are destocking. Early next year may see some technical recovery as a seasonal uptick in demand may fuel some selective inventory replenishment, but overall steel demand in 2013 will remain dull.

Source - EUROFER

voda 16 november 2012 16:15

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Some bidders drop pursuit of ThyssenKrupp assets - Report

Reuters reported that several top steelmakers are sitting out ThyssenKrupp auction of its US and Brazilian mills and there appears little interest in the latter, suggesting the German firm may fall well short of its USD 9 billion asking price.

Two people close to the process said that with second round offers due, the field of bidders for the loss making mills is down to around half a dozen.

The people said that US Steel and rival Nucor are still in the running, as are Japanese groups JFE Steel Corporation and Nippon Steel and Brazil's CSN, adding final bids were due in December 2012.

However, South Korea's POSCO, China's BaoSteel and Brazilian iron ore miner Vale, which owns just over a quarter of ThyssenKrupp's Brazilian plant, are not bidding. It was not clear whether ArcelorMittal, the world's biggest steelmaker, was still in the running.

Source - Reuters

voda 16 november 2012 16:23

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Een nieuw produkt. Iets voor AM belegger?

Kosteloos instappen in Rendement Certificaten ArcelorMittal
Tot vrijdag 30 november 2012 kunt u kosteloos instappen in BNP Rendement Certificaten op ArcelorMittal. Een Rendement Certificaat is een beleggingsproduct van BNP Paribas, onlangs geïntroduceerd in Nederland. Er zitten geen restricties aan deze actie, u kunt met elk bedrag instappen.

U vindt de Rendement Certificaten van BNP op de Alex website via 'Koersen' > 'Rendement Certificaten'. Klik hier om meer informatie te krijgen over Rendement Certificaten op de website van BNP Paribas
Bron: Alex

Zie link van BNP:

www.markets.bnpparibas.nl/NLD/Home&

voda 16 november 2012 16:33

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BHP aims to push up iron ore capacity by 5th

Reuters cited Mr Wilson chief of the global miner's iron ore as saying that BHP Billiton expects to expand its iron ore capacity by nearly a 5th just by working its mines, rail lines and port harder as it looks to control costs in a softer iron ore market.

Uncertainty over iron ore prices due to stuttering demand for the steel making ingredient from China has prompted a rethink of expansion plans by most iron ore miners, including top global iron ore miner Vale.

BHP has slowed its growth plans, like Australia's no 3 iron ore miner Fortescue Metals Group, while their bigger rival Rio Tinto is pressing ahead with an expansion that will give it at least a third more capacity than BHP and more than double Fortescue's capacity.

Mr Wilson said that "Looking forward, things are not as rosy as they were in the past. The imperative to grow as aggressively as we were in the past has diminished slightly."

Caught out by escalating costs, a sharp slide in iron ore prices and a persistently strong Australian dollar, BHP shelved plans in August to build a USD 20 billion iron ore harbor at Port Hedland in Western Australia that would have eventually doubled its iron ore capacity to 440 million tonnes.

BHP is focusing instead on milking as much out of its existing inner harbor, rail line and mines, increasing its capacity in smaller steps without huge capital outlays.

The company now expects to reach 260 million tonnes or 40 million tonnes more than the current target that it will reach with the nearly completed expansion of its inner harbor at Port Hedland and the opening of the Jimblebar mine.

Mr Wilson said that "The aspiration would be, just by squeezing our existing infrastructure with modest capital investments across our business, to be able to achieve around the 260 million tonne mark."

He gave no timeframe or cost for achieving the higher target after it reaches 220 million tonnes a year in 2014.

Analysts said that BHP's and Fortescue's deferral of growth plans reflected more on lower cash flows rather than longer term pessimism about China's growth and demand for iron ore.

Mr David Lennox analyst of Fat Prophets mining said that "This is more about conserving capital in the current environment than concern over weaker markets."

Source - Reuters

voda 16 november 2012 16:38

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New study paints bleak picture for emerging iron ore producers

Mining reported that iron ore recently added 10c to remain above USD 120 a tonne, a level it has held all month.

Present import price for 62% fines at China's Tianjin port of USD 122.40 is also a 40% improvement since the commodity sunk to a 3 and a half year low of USD 86.70 in September.

In its upcoming iron ore outlook to 2020 London based metals and minerals research house Roskill Information Services said that this type of market volatility is set to continue for the rest of the decade:

1. With the disruption of supplies from India, concerns over slowing economic growth in China, and the effects of large stockpiles forcing the price of iron ore through a series of supposed price floors, the iron ore industry has faced a turbulent time during 2011 and 2012.

2. From 2006 to 2011, the promise of a high return on investment led to a decrease in the concentration of corporate control of seaborne trade in iron ore. During this period, the share of seaborne trade controlled by Rio Tinto, BHP Billiton and Vale fell to 57.3% of the world total.

3. This trend is expected to reverse to 2020, as the limited availability of capital will make securing project financing increasingly difficult for emerging producers. Much of the increase in capacity is expected to come from capacity expansions in Australia and Brazil and from projects backed by leading steel producers seeking to secure future supply.

4. Downward revisions in the long-term outlook for iron ore demand and prices are likely to lead to the delay, suspension or cancellation of a large number of projects. Nonetheless, Roskill estimates that 425 million tonne per annum of nameplate capacity will be added from the middle of 2012 to the end of 2014 and that capacity additions will continue to exceed 100 million tonne per annum through to 2020.

5. These additions are likely to exceed demand growth and mostly represent low to medium cost operations. Consequently, producers at the higher end of the cost curve particularly those in China will gradually find themselves unable to compete in the open market.

6. In 2012, a destocking phase among steel producers depressed demand for iron ore and the World Steel Association expects apparent consumption of finished steel products to grow by only 2.1% in 2012, down from 6.2% in 2011. A partial recovery appears likely, as the construction sector in China and increased infrastructure spending will support growth in demand.

7. During the period to 2020, however, rising demand from other emerging nations is unlikely to fully offset the slowing pace of growth in the intensity of steel use in China, as this country approaches a peak in per capita steel consumption.

8. Roskill expects growth in apparent crude steel use to average 2.9% per year from 2012 to 2020. Owing to the on going shift of steel production to countries with a higher use of iron ore per unit of steel, Roskill forecasts that demand for iron ore, at 3.1% per year, will marginally outpace steel demand, despite a relative increase in the use of scrap metal.

9. Uncertainty over the Eurozone affects the iron ore industry through its effect on demand, as well as on the reduced availability and higher cost of capital. Revisions of figures on Chinese growth targets and performance are likely to result in further short term peaks and troughs, although much of the adjustment to a more realistic outlook has already taken place albeit some rebound from excessive and unwarranted pessimism may be expected.

10. Other risk factors include growing resource nationalism, particularly in Africa, highly unpredictable energy costs, rising labor costs, and the fate of the Indian mining industry following the mining bans in Goa and Karnataka states.

11. Following the slump in prices from June to September 2012, Roskill expects prices to remain above USD 120 per tonne for 63.5% Fe content Indian fines until the end of 2014, while a restocking phase may push prices towards USD 135 per tonne during 2013, although large fluctuations are not unlikely.

12. As new capacity comes on stream, the industry’s price floor will gradually drop and Roskill expects that the USD 100 per tonne price level will be repeatedly tested and eventually broken towards 2015. In its baseline scenario, and adjusting for inflation, Roskill expects that prices may trend towards USD 85 per tonne to USD 95 per tonne during 2016 to 2020.

Source - www.mining.com

voda 16 november 2012 16:38

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Chinese iron ore output down by 3.26pct in Oct

China’s National Bureau of Statistics announces that, China’s aggregate iron ore output totaled 124.853 million tonne, down 4.209 million tonne or 3.26% compared to September.

Meanwhile, aggregate iron ore output in China in the given month increased by 13.3% YoY basis. China’s aggregate iron ore output in September this year, amounting to 129.062 million tonne had increased by 10.72% MoM and by 20.3% YoY.

In the January to October period of this year, China’s total iron ore output amounted to 1.0911 billion tonne, up 16.2% compared to the same period of last year.

Source - SteelOrbis

voda 16 november 2012 16:40

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Two workers killed by asphyxiation in Aperam steel plant

Xinhua reported that two people died of asphyxiation at the steel plant Aperam in Nievre in central France.

As per report, during a maintenance operation that caused a drop in oxygen levels, two workers aged 41 and 62 years old, died at steel plant Aperam, majority owned by Mittal group.

According to preliminary elements, a malfunction in an oven would have lowered the oxygen.

According to the report, ten other workers were also affected.

Source - Xinhua

voda 18 november 2012 16:55

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US steel recycling rate hits all time high of 92pct

The US recycling rate for steel is at an all time high of 92%, with more than 85 million tonnes of scrap steel consumed by steel making furnaces in 2011, an increase of nearly 10 million tonnes compared to 2010.

According to numbers from the Steel Recycling Institute, the recycling rate for steel packaging also reached an all time high of 70.8%, with more than 1.5 million tonnes of steel recycled.

Mr Gregory L Crawford executive director of the SRI said in a statement that "This high level of scrap consumption is a reflection of the North American steel industry's commitment to conserving energy and natural resources. The use of steel in everyday products, including packaging, appliances, automotive and construction ensures quality while also supporting product stewardship, knowing that these products are routinely recycled at the end of their use, thanks to steel."

According to the SRI, the automobile recycling rate came in at 94.5%. Appliance recycling rates remained stable at 90% with more than 2.9 million tonnes of steel recycled. Construction rates also held steady with a 98% recycling rate for construction plates and beams, along with a 70% rate for construction rebar.

The SRI claims that steel is recycled more than paper, aluminum, plastic and glass combined, and is North America's most recycled material.

Source - Waste Recycling News

voda 18 november 2012 16:56

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AK Steel shares hits 8 year low as metal prices decline

Bloomberg reported that AK Steel Holding Corporation, a supplier of the metal to US builders and automakers, forecast lower prices and a wider than estimated loss while announcing the sale of equity and debt to repay a credit facility.

AK Steel said that the fourth quarter loss excluding a tax expense will be 34 cents to 39 cents a share. That trailed the 21 cent average of 17 analysts' estimates compiled by Bloomberg. AK said separately it will offer USD 350 million of secured notes, as much as USD 143.8 million of exchangeable notes and sell as many as 28.8 million shares to repay the facility and for general corporate purposes.

AK dropped 18% to USD 4.50, the biggest decline since November 20th 2008 and the lowest closing price since June 2004. The shares have tumbled 46% in 2012. The company operates a plant in Butler.

Mr Kuni Chen an analyst at CRT Capital Group said that average steel selling prices will be down 5% compared with the third quarter, in part because of worsening global business conditions, and lower raw material costs won't fully make up for the decline. The company is refinancing debt on concern that demand won't improve in 2013 because Congress may not act to avoid the so called fiscal cliff, in which USD 607 billion in automatic spending cuts and tax increases start in January 2013.

He added that "The financings here reflect management’s conservative macro view and the fiscal cliff worries. You've seen AK Steel and other companies look to rebalance the capital structures now because we could certainly be in a much worse economic environment next year."

Source - Bloomberg News

voda 19 november 2012 16:42

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Bayi Steel to double its current steel production capacity

It is reported that Xinjiang Uyghur Autonomous Region based Chinese steel producer Bayi Iron and Steel, subsidiary of Chinese steel giant Baosteel Group, plans to more than double its current steel production capacity of 7 million tonnes per annum in the northwestern region of Xinjiang by 2015.

According to the announcement of Siemens Metals Technologies, Bayi Steel's hot metal production is to be increased with the addition of plants using Corex technology. Baosteel's two Corex plants in Shanghai, which were supplied by Siemens Metals Technologies, have an annual capacity of 1.5 million tonnes each. The two plants will be dismantled and reassembled at Bayi Steel's facilities in Xinjiang. The first Corex plant is scheduled to go into operation at the end of 2014, with the second one due to be commissioned one year later.

Due to declining prices for heavy plate and as part of a strategic realignment of production in the Shanghai area, Baosteel has decided to suspend steel production at its Luojing works and to dismantle the individual steelmaking installations, including the two Corex plants.

Source - Visit www.steelorbis.com for more

voda 19 november 2012 16:43

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Monday Market Monitor - Scrap - WEEK 46 - Moves up further

The prices of steel scrap, in line with forecast vide “Sandy storms the global steel scrap market” on November 10th 2012, moved up further last week

While the Turkish mills started accepting prices higher by almost USD 10 per tonne as compare to Week 45, European scrap sellers hiked their offers by EUR 10 per tonne

After an early startup in September with Turkish buying opening with its typical flurry the momentum seemed to be petering out. However a sudden gush of storm in the eastern coast of USA apart from its devastating impact culminated in an uptick of scrap levels with logistical bottlenecks crippling shipment.

In the first good news filtering after the storm US shredded scrap offers have jumped by USD 45 per tonne during the last week. This week has witnessed further escalation of upto USD 60 per tonne. Traders are eager to chance upon this opportunity by sticking to their guns either coercing buyers to bulk. Buyers on the other hand have feebly resisted

Approaching winter will certainly culminate in improved scrap level giving a push to the long product price. Moreover improved steel market levels in China will give stability. Turkish mills are notorious for their on off purchase practice and subdued buying for over a quarter might just prick them to open the floodgates sooner rather than later.

www.steelprices-europe.com is a comprehensive service for tracking real time steel prices and trends in both South and North Europe on weekly basis.

The scope of service includes
1. Domestic pricing information in Germany, Italy and Spain
2. Import pricing information in Germany, Italy and Spain
3. Import levels at Antwerp and Turkey
4. Export levels from Turkey, Rotterdam, China, India and Black Sea

How to subscribe
1. Register at www.steelprices-europe.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-europe.com.

Source - Steel Price Europe

voda 19 november 2012 16:58

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China continues to remain the top importer of iron ore from Goa

Times of India reported that China continues to remain the top importer of iron ore from Goa. Statistics complied by the Goa mineral ore exporters association indicate that over 89% of Goa's registered ore was exported to China in 2011-2012.

Over 38 million tonnes of Goa's registered iron ore was exported in 2011-2012, out of which over 34 million tonnes was exported to China.

Goa exports iron ore to China, Japan, South Korea, Europe and the United Arab Emirates. Besides China, Goa's mining companies export over 2 million tonnes to Japan, over 1 million to South Korea, 3,79,075 tonnes to Europe and 52,500 tonnes to the UAE.

GMOEA statistics said that Fomento resources pvt ltd, Prime mineral exports pvt ltd and Sociedade de Fomento industrial pvt ltd have exported 4,50,343 tonnes of non Goa iron ore to China.

Out of 28 mining companies, which were involved in exports of Goa registered ore, only 5 companies exported ore to Japan. Between, 2003 to 2005 Japan was the number one importer of Goa ore which was replaced by China, after the mining boom in the state.

All 28 companies exported Goan registered iron ore to China. Sesa Goa Ltd and Sesa Resources Ltd exported over 11 million tonnes and Fomento's Sociedade de Fomento Industrial Pvt Ltd, Prime Mineral Exports Pvt Ltd, Fomento Exports Pvt Ltd, and Infrastructure Logistics Pvt Ltd exported over 7 million tonnes.

Meanwhile, VM Salgaocar and Bro PVT Ltd exported over 3 million tonnes, Chowgule and Company Pvt Ltd exported over 1 million tonnes, Timblo Enterprises Limited exported over 2 million tonnes, Panduronga Timblos Industries exported over 1 million tonnes to China.

Source - Times of India

voda 19 november 2012 16:59

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Anglesey associate Labrador more optimistic on iron ore prices

Proactive Investors reported that Anglesey Mining’s Canadian associate Labrador Iron Mines is now more optimistic on prices and after a recent rally expects them to hold above USD 110 per tonne.

Anglesey said that longer term demand from China will also hold up.

It said that LIM was badly affected by the slump in iron ore prices, which fell by a third to under USD 90 per tonne during August and prompted a USD 30 million emergency cash call and a critical review of all its spending in 2012. This extra funding will enable LIM to stay the course.

LIM added that it expects to ship one more consignment of iron ore by the end of November to make a total of ten for the 2012 operating season.

The company mined approximately 962,000 tonnes of ore at a grade of 60.8% iron in the three months to September, a 40% increase QoO. Approximately 706,000 tonnes of ore were transported to the Port of September Iles during the quarter. LIM sold four shipments of iron ore totaling 648,000 dry tonnes and generated revenue of CAD 33.0 million.

It added that but its 3 shipments in August were sold at below cost, which meant it posted a loss of USD 31.7 million, or USD 0.47 per share. The loss included a depletion and depreciation charge of USD 14.4 million or USD 0.21 per share.

Mr Rod Cooper, Labrador’s president and chief operating officer said that "LIM's operations generated strong results QoQ, as performance in the mine, processing facility and rail all ramped up towards the height of the 2012 operating season. However, operational achievements in the period were overshadowed by challenging market conditions and, in particular, a precipitous decline in spot iron ore prices in August.”

Meanwhile, LIM will have shut down it mining operations for the winter by the end of November, but it will only start them up again in April next year if it is still confident iron prices will remain at USD 110 per tonne or above for the remainder of the mining season.

Source- Proactive Investors

s.lin 19 november 2012 19:42

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Arbeiders ArcelorMittal Luik verwerpen sociaal plan
19/11/12, 12u45
De arbeiders en bedienden bij ArcelorMittal in Luik hebben unaniem het sociaal plan dat werd voorgesteld door de directie verworpen. Aansluitend werd er een 24 urenstaking opgestart. .

Het gaat om het sociaal plan voorgesteld door de directie in het kader van de geplande sluiting van de warme lijn in Luik. "Het plan is compleet onvoldoende. Het personeel heeft er genoeg van", aldus David Camerini van de christelijke vakbond. De vakbondsman stelt een contact voor met de Europese directie om tot een oplossing te komen.

Volgens de vakbondsman zal een actieplan worden opgesteld. Hij waarschuwt voor hardere acties door het personeel.

Sombere toekomst
De directie van ArcelorMittal verwacht dat de toestand in 2013 "nog somberder" zal zijn dan in 2012 voor de activiteiten waaronder ook de hoogovens in Luik vallen. Dat is gezegd tijdens een bijzondere ondernemingsraad in Parijs. De ondernemingsraad ging over de economische en industriële toestand in de businessdivisie "Noord", die elf hoogovens omvat. Daarvan liggen er vijf momenteel stil: twee in Luik, twee in Florange (departement Moselle) en een in Duinkerke (departement Nord).

"De zes hoogovens die actief zijn in de regio, volstaan momenteel om aan de vraag te voldoen, zo stelde de directie", zegt vakbondsman Francois Pagan. Bij die zes actieve zijn ook de twee hoogovens van ArcelorMittal Gent (het vroegere Sidmar). "De directie heeft ook meegedeeld dat de hoogoven in Duinkerke die sinds augustus stilligt voor onderhoud, niet zal worden opgestart in januari", aldus nog Pagan. Over een mogelijke overnemer voor de hoogovens van Florange was er geen nieuws.
Bron: belga.be

voda 20 november 2012 16:38

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De daling vandaag valt mij nog mee, na dit bericht!

'ArcelorMittal waarschuwt voor zwak 2013'

Gepubliceerd op 20 nov 2012 om 09:29 | Views: 835 |

ArcelorMittal 16:20
EUR 11,56 -0,15 (-1,24%)

PARIJS (AFN) - Staalconcern ArcelorMittal heeft bij de vakbonden aangegeven dat er weinig hoop is voor een verbetering in de resultaten komend jaar. Dat meldden verschillende Franse media dinsdag.

Het bedrijf baseert zich daarbij op de prognose dat de Europese staalmarkt verder zal afzwakken. Een zegsman wilde dinsdag niet reageren op de berichtgeving. Eerder stelde financieel directeur Aditya Mittal dat het derde en vierde kwartaal van 2012 worden gezien als ,,het laagste niveau in de cyclus''.

voda 20 november 2012 16:43

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Chinese finished steel inventory exceeds 12MT as of Nov 16 - CISA

According to the China Iron and Steel Association, as of November 16th 2012, inventory of the main finished steel products (plate, hot rolled coil, cold rolled coil, rebar and wire rod) in 26 major steel markets in China totaled 12.092 million tonnes, up by 7,000 tonnes as compared to the previous week and indicating the first week on week increase in the past six weeks.

Meanwhile, China's total finished steel inventory on the date in question was down by 1.072 million tonnes YoY.

In particular, as of November 16th 2012, inventory of rebar in China indicated a slight increase of 6,000 tonnes week on week, domestic wire rod inventory registered a week-on-week increase of 34,000 tonnes, though hot rolled coil inventory decreased by 27,000 tonnes compared to the previous week. In addition, domestic inventories of cold rolled coil and plate were respectively up 2,000 tonnes and down 8,000 tonnes week on week.

According to the CISA, in the given week, finished steel inventory in northern China witnessed an increase due to heavy snow and unfavorable transportation conditions. While the current finished steel demand in southern China remains strong, market demand in the region may decrease with the commencement of the winter season. China's finished steel inventory may be at the start of a period of rising movement.

Source - Visit www.steelorbis.com for more

voda 20 november 2012 16:44

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Japanese crude steel output fell by 6.7pct YoY in Oct - JISF

Reuters reported that Japan's crude steel output registered its biggest annual fall in nine months in October 2012, as a decline in domestic car production and an increase in imports of construction steel reduced demand.

Japan Iron and Steel Federation said that output fell by 6.7% YoY to 8.84 million tonnes. That was the biggest fall since January 2012, when the yen's surge to near record highs and devastating floods in Thailand forced Japan's top two steelmakers, Nippon Steel and Sumitomo Metal Corporation and JFE Steel Corporation, to cut exports. October 2012 output, which is not seasonally adjusted, increased by 0.4% MoM from September 2012.

An official at JISF said that "A fall in car output has affected crude steel output."

Japan's steel producers are hurting from a decline in demand from domestic carmakers after the government ended incentives in September for environmentally friendly cars.

Compounding the sector's troubles, political tension between Japan and China that erupted in September after a row over disputed islands triggered violent anti Japanese protests across China, has hurt sales of Japanese cars in China.

Demand for Honda, Toyota and Nissan cars slumped in China in September as tempers flared, with South Korea's Hyundai Motor and Germany's BMW picking up market share. Toyota has said its China sales dropped 49% in September 2012.

The industry official said that the yen's strength also prompted larger imports of cheaper construction steel from Asian rivals such as South Korea's POSCO and Baosteel of China, pressuring prices and forcing Japanese makers to cut output.

Source - Reuters

voda 20 november 2012 16:47

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US Steel Industry Outlook to 2015

US steel industry is one of the world's largest steel industries both in terms of production and consumption. In 2011, the country secured third position, globally with nearly 5.7% share in crude steel production. The industry has benefited from soaring steel demand in the automobile and construction sectors. Moreover, the cost effective and highly efficient steel making technologies worked as a catalyst and uplifted the US steel demand in the international markets.

According to our new research report, "US Steel Industry Outlook to 2015", the US steel industry has been playing an important role in the overall economic development. This can be attributed to the increased production and consumption level in 2011 with respect to the previous year. Further, crude steel production increased more than 7% in 2011, while consumption increased around 11% during the same period. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.

As per our research, continuous cast steel process accounts for major steel production in United Sates. Product-wise, flat products' production accounts for the major share in total steel production, followed by long products and seamless tubes. Our report covers the further break up of long products production into concrete reinforcing bars, bars and wire rods and flat products into electrical sheet & strip, tin mill and other metallic coated sheet & strip.

In addition, the consumption section in the report covers the consumption by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report covers the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.

While analyzing the gathered information, it was found that, construction sector accounts for the maximum share in the overall steel consumption. It is the material of choice of various sections of construction industry due to its strength, reliability, strong performance, consistency, and versatility in designing. US Architects and engineers increasingly prefer steel over others for the construction of residential and commercial buildings. In addition, other market classes, such as automobile, energy, container etc. have contributed to the rising consumption of steel.

Our report "US Steel Industry Outlook to 2015" is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation with the factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.

Additionally, the report has presented projections for steel demand across different vertical industries to provide a rough idea about the direction, in which, the steel industry is likely to move in future. The competitive landscape segment mainly focuses on key industry players and provides valuable information about their business description together with financial analysis.

voda 20 november 2012 16:49

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Iran steel market trend in week 46 - Billet

Billet market experienced a hard week in Iran. Price of billet size 150 mm dropped by IRR 600,000 per tonne to IRR 15,200,000 per tonne on truck in Anzali including 5% VAT.

Reduction of billet price has reasons such as:
1. Declining demand of long products
2. Devaluation of USD against Rials
3. More pressure from government for declining domestic billet price at IME.

It seems that billet price at IME has dropped by 14% during 18 days as on 27th October it was IRR 17,460,000 per tonne and on 14th November reached IRR 15,000,000 per tonne at IME.

There are 2 different views in the market:
One of them says that this price would be the bottom and base price for billet and won't drop more. They believe that imported billet final price is at least IRR 16,400,000 per tonne after duty and other costs, so when domestic billet is IRR 15,000,000 per tonne import market would stop activity, as a result domestic price will rise again.

The other view says that Iranian authorities are trying to decline billet price to as low as IRR 13,000,000 per tonne at IME. State projects' sections demand has dropped significantly, so billet demand has decreased too. About 50,000 tones of billet was offered at IME but only 10,000 was purchased.

Supply level of billet at IME and import market together has dropped by 30% compared to last Iranian month but demand level has declined more, though billet market need at least 1 month to be balanced.

Sourced - Irsteel.com

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