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voda 24 mei 2014 15:38

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Japanese crude steel output falls after tax hike

Reuters reported that Japan's crude steel production fell 2.5% in April from a year ago, the first drop in eight months as demand slowed after a sales tax hike was implemented at the start of the month.

The decline was less than 3.8% rate of decrease predicted for the April to June quarter by Japan's trade ministry early last month.

Japan's crude steel output rose 4% in the year ended March 31 to the highest in 6 years on robust construction demand, as Prime Minister Mr Shinzo Abe pushed to revitalize the nation's economy with infrastructure investments and monetary easing. But investors are now watching for the impact of the sales tax hike that went into effect on April 1.

The Japan Iron and Steel Federation said that crude steel output in April declined to 8.94 million tonnes. The drop came as demand for automobiles and housing slowed after a surge ahead of the sales tax hike. Labour shortages also curbed construction demand.

The researcher said that output of H-beam steel, mainly used for construction, dipped 9.0% in April from a year earlier, logging the first fall in 23 months. Export demand was also slack because of lower steel prices overseas and political uncertainty in Thailand.

Steel industry officials have said that they expect to see a pickup in domestic demand in the July to September quarter, helped by the government's stimulus measures. Crude steel output, which is not seasonally adjusted, declined 8.0% from March.

Source - Reuters

voda 24 mei 2014 15:39

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Tugboat workers suspends iron ore port strike plans for a month

Reuters reported that tugboat workers agreed to suspend plans to go on strike at Australia's biggest iron ore port till at least late June, just as miners stepped up efforts to avert action that could halt a quarter of the world's seaborne iron ore supply.

Deckhands represented by the Maritime Union of Australia, working on tugboats that guide iron ore ships in and out of the port, have threatened to go on strike for up to 7 days, blocking USD 100 million a day worth of iron ore sales.

The MUA said that it would hold off industrial action for 30 days but would seek a 30 day extension on an existing approval for a possible strike to allow more time for talks with the tugboat operator, Teekay Shipping.

Mr Will Tracey, the MUA's West Australian secretary, said in a statement that "Discussions between the two parties this week have been productive and both parties would like to see if we can reach a negotiated outcome without the need for industrial action."

The deckhands who work for 28 days and then get 28 days off for AUD 135,000 a year, want more than a 20% pay hike and four weeks extra leave, arguing their long work hours are equivalent to what people usually put in over 54 weeks.

Any strike at Port Hedland would halt more than half of Australia's iron ore exports, hitting its No.2 and No.3 iron ore producers, BHP Billiton and Fortescue Metals Group Limited, respectively, as well as Atlas Iron Limited who have all slammed the union's demands.

Mr Nev Power, CEO of Fortescue, said in a statement that "There is something wrong with our industrial relations laws when a small group of 45 people who would like to only work 22 weeks a year and be paid a base rate about three times the base wage of a first year nurse.can hold to ransom an industry that generates more export earnings than any other.”

Fortescue said that it was preparing to apply to the Fair Work labour tribunal to stop a strike on the grounds it would significantly harm the company which is not directly involved in the dispute.

Mr Power said that "In the event of a strike, Fortescue will be forced to consider standing down its operations and the associated workforces for indefinite periods of time.”

The miners have also been highlighting the potential impact on Australia's economy given iron ore is the country's biggest export earner and a major source of royalties and taxes, which could also be grounds for the labour tribunal or the government to stop a strike from going ahead.

Iron ore exports are expected to surge 35% to AUD 76.8 billion this year, according to the Australian Bureau of Resources and Energy Economics.

Australia's top iron ore producer, Rio Tinto would not be affected by a strike at Port Hedland, as it does not use that port.

Source – www.miningweekly.com

voda 24 mei 2014 15:44

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ArcelorMittal Ostrava cuts emissions with USD 74 million boiler investment

ArcelorMittal Ostrava is to build a new boiler as part of a USD 150 million modernization program for the steelmaker’s power plant.

Through its subsidiary ArcelorMittal Energy, a contract has been signed with Finland’s Valmet to install a fluidised bed boiler worth USD 74 million replacing four coal fired boilers. The new boiler which is more energy efficient will significantly reduce emissions of sulphur dioxide, nitrogen oxides and dust.

Along with the site’s ongoing desulphurisation program and its project to reduce nitrogen oxides, the new boiler is a part of the overall modernization of Ostrava’s power plant. These investments will help reduce the company´s environmental footprint and ensure its power plant will comply with the European emission limits before they come into effect.

Valmet won tender for a circulating fluidised bed boiler, which will be installed and operational within three years. The fluidised bed boiler burns coal more efficiently than the current coal fired boilers and has a guaranteed efficiency of more than 92%, while producing very low emissions thanks to its high quality design. It is equipped with facilities for desulphurisation and reduction of nitrogen oxides emissions. At the same time the fabric filter will ensure a perfect dedusting of flue gases.

Mr Tapas Rajderkar CEO of ArcelorMittal Ostrava said that “The boiler is the biggest environmental and modernization investment project since the 1990s when the mini-mill was built. It will fully replace the existing facilities while reducing emissions of gases and dust. I am really proud that such important projects are implemented at ArcelorMittal Ostrava in spite of the continued unfavourable economic conditions. They will ensure not only a great reduction in emissions, but also the future of the company and its competitiveness in the market."

Mr Kai Maenpaa MD of the Finnish company Valmet, the K14 contractor said that "We will be ready to commission the new boiler in the middle of 2016. It represents a very interesting contract for us; we are dealing with technology, environmental aspects and also demanding requirements of steelmaking operations. We appreciate the fact that it is us to offer new solutions and that we can make use of our 30-year experience in this field."

Mr Pavel Marik project manager from ZVVZ Enven Engineering said that "We had to design and complete the desulphurisation in a way that would ensure a operations could continue at the plant. The necessary parts of the facility are therefore duplicated so that no desulphurisation or boiler operation failure occurs in the case of malfunction."

Source – Strategic Research Institute

voda 24 mei 2014 15:44

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ArcelorMittal scoops three awards at Platts Global Metals

ArcelorMittal announced that it has won Deal of the Year, ‘Lifetime Achievement and Industry Leader at this year’s Platts Global Metals Awards. The annual awards, which recognize excellence and accomplishments in the global metals industry, were presented in London on 21 May.

ArcelorMittal won the deal of the year category for its acquisition of ThyssenKrupp Steel USA, in a joint venture with Nippon Steel & Sumitomo Metal Corporation. The complex transaction which completed in February this year was one of the biggest in the steel industry for years, resulting in ArcelorMittal and NSSMC owning the flagship steel finishing plant AM/NS Calvert in Alabama, USA.

Mr Bill Steers general manager of Americas communications and corporate responsibility highlighted the importance of this milestone deal for the company that "It is gratifying to receive recognition from Platts Global Metal awards, highlighting the successful completion of this deal for ArcelorMittal. Along with NSSMC we are now the owners of the most modern steel finishing facility in the world, which will allow us to meet rising demand for steels in the automotive, energy and other important NAFTA markets.”

Mr Greg Ludkovsky VP for global research and development at ArcelorMittal, took home the prestigious lifetime achievement award, for his unique contribution over the past four decades to innovation in the steel industry.

Accepting the award, he spoke of his passion for his chosen profession that “I am very honoured to have been awarded this recognition from Platts. I like to tell people to ‘find a job you like and you will not be working for a single day in your life this is how I feel about my work, innovating to create and design new steels for the world.”

Mr Lou Schorsch CEO of ArcelorMittal Americas and Group Management Board member responsible for strategy, technology, R&D, global automotive and commercial co-ordination said that “Even decades ago, Mr Greg was recognized as an outstanding R&D scientist and manager bringing steel applications to our customers. Today he leads the R&D function at ArcelorMittal with operations on five continents and activities in almost every product category. Despite the scope of these responsibilities Greg continues to be an incredibly fertile source of innovative ideas and solutions, particularly as our customers set ever higher targets for our product. Mr Greg’s leadership is ultimately responsible for breakthrough products like our proprietary door ring used in the Honda SUV MDX.”

Source – Strategic Research Institute

voda 27 mei 2014 16:20

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Miljardencontract voor ijzererts in Guinee

DINSDAG 27 MEI 2014, 13:00 uur | 508 keer gelezen

MELBOURNE (AFN/BLOOMBERG) - Rio Tinto heeft een financiële overeenkomst gesloten met de overheid van het West-Afrikaanse Guinee voor de ontwikkeling van een ijzerertsmijn en bijbehorende infrastructuur. Daarmee is mogelijk 20 miljard dollar gemoeid, aldus de Australische mijnbouwkolos dinsdag.
Het akkoord brengt de onderhandelingen over de aanleg van een spoorlijn en een haven wellicht in een stroomversnelling. Rio Tinto werkt bij het project samen met Aluminium Corp of China (Chinalco) en International Finance Corp (IFC). De regio Simandou in Guinee geldt als 's werelds grootste ongerepte ertsafzetting. Volgens Rio Tinto kan de mijn jaarlijks 100 miljoen ton erts produceren.

Mocht het project doorgaan, dan kan Guinee waarschijnlijk rekenen op een verdubbeling van het bruto binnenlands product. Bovendien levert het project 45.000 banen op.

[verwijderd] 27 mei 2014 16:29

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Ga er even naar toe Voda, er is al veel te veel erts op de markt! :-)

voda 27 mei 2014 16:33

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China steel and iron ore futures hit 1 week high

Reuters reported that Chinese steel and iron ore futures rose to one week highs as battered prices regained some ground, although the outlook for demand remained shaky.

Both rebar in Shanghai and iron ore in Dalian fell to record lows last week as supply of the two commodities outpaced demand in top consumer China where the economy is expanding at a slower pace as the government pushes reforms aimed at more sustainable growth.

The most active rebar for October delivery on the Shanghai Futures Exchange touched a session high of CNY 3,147 per tonne, after falling to an all time low of CNY 3,055 on May 21. It was up 1.7% at CNY 3,135 by midday.

Iron ore for delivery in September on the Dalian Commodity Exchange gained 1.1% at CNY 719 per tonne after peaking at CNY 729. The contract fell to a record low of CNY 695 last week.

Ms Helen Lau mining analyst at UOB Kay Hian Scurities in Hong Kong said that "I don't see this rebound as a trend. I think people who are short on steel futures will continue to be short. While Chinese mills have kept steel production high, traders have been running down their stocks, opting to unload products at low prices instead. There's too much supply and traders want to transfer the inventory risk to the end user that's why they're unloading at lower prices."

Data from industry consultancy Mysteel showed that stockpiles of five major steel products held by traders in China stood at 14.72 million tonnes as of May 23, down from 15.38 million tonnes the previous week.

In contrast, crude steel output at large Chinese mills reached a record high 1.824 million tonnes in the first 10 days of May.

Source – Reuters

voda 27 mei 2014 16:34

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quote:
Snance schreef op 27 mei 2014 16:29:
Ga er even naar toe Voda, er is al veel te veel erts op de markt! :-)

Speciaal voor jou nog wat meer details :-)

Rio Tinto, Chinalco and IFC ink historic Investment Framework for Simandou iron ore project in Guinea

The Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC, signed the Investment Framework for blocks 3 and 4 of Simandou, the Project, which will be the largest combined iron ore and infrastructure project ever developed in Africa, providing Guinea with the opportunity to reap the benefits of its rich mineral wealth and transform its wider economy.

Key terms of the Investment Framework

1. The Republic of Guinea becomes an active shareholder of the Simandou South mine

2. The Republic of Guinea now has 7.5% ownership of Simfer S.A., the mine owner.

3. The Republic of Guinea will have the option to increase this share in Simfer SA to 35% over 20 years: an additional 7.5% for free and 20% on a contributing basis (of the 20% - 10% purchased at historical mining cost, that is, the proportionate percentage of Simfer SA's costs in undertaking the mining activities, and 10% purchased at market value).

4. As a shareholder of Simfer SA, the Republic of Guinea will be able to receive dividends and contribute to the company's commercial strategy during board meetings.

The signing marks a significant milestone and provides the legal and commercial foundation for the project. It also allows the project to move towards realizing the opportunities it presents for Guinea and all the shareholders.

Within the coming days, the Government of Guinea will submit the IF for the consideration of the Guinean National Assembly in order to seek its ratification. Once ratified the project partners will finalize, within approximately one year from ratification, the Bankable Feasibility Study which will confirm all the project parameters including cost and timeline.

In parallel, the parties, under the leadership of Rio Tinto, are working together to assemble a consortium of investors who will finance, build and own the multi user 650km railway and deep water port infrastructure within the agreed timeframe and along procedures laid down by the Bankable Feasibility Study and involving all parties.

Mr Sam Walsh Rio Tinto Chief Executive said "Today is an important milestone in the development of this world-class iron ore resource for the benefit of all shareholders and the people of Guinea. I would like to welcome the Government of Guinea as a shareholder and thank the President for his continued commitment to the Project."

Mr SUN Zhaoxue General Manager of Chinalco said: "China and Guinea maintain traditional friendly relations, the two countries are highly economically complementary, Guinea has rich iron ore resources while China is the world's largest iron ore consumer. The signing of Simandou Investment Framework is of great importance, and Chinalco is willing to work with all the partners, to implement respective responsibilities and obligations to achieve earliest first commercial production and full capacity production of the project, which will benefit the State of Guinea and Guinean people."

Mr Jin-Yong Cai IFC Executive Vice President and CEO said "This Project is a priority for IFC, given its potential to bring jobs, infrastructure and revenues to Guinea. Projects of this scale require strong partnerships. This agreement is a testament to the strong collaboration of the Project partners, including the Government of Guinea, in developing a framework that will bring long-term positive benefits to the country."

The Project is a world-class iron ore mining development located in the south-east of Guinea. The Project partners include the Republic of Guinea (7.5%), Rio Tinto (46.57%), Aluminium Corporation of China (41.3%) and the International Finance Corporation (4.625%), a member of the World Bank Group. The Project will be the largest combined iron ore mine and infrastructure project ever developed in Africa, with the potential to transform the Guinean economy and transport infrastructure.

The project comprises three principal components

1. A high-grade iron ore mine (blocks 3 and 4 of Simandou) of 100 million tons per year at full production

2. A new 650km trans-Guinean multi-user railway to transport iron ore to the Guinean coast

3. A new deep-water multi-user port in the Forécariah prefecture

Source – Strategic Research Institute

voda 28 mei 2014 16:17

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Chinese steel industry poised for major cleansing

Overproduction and price decline have become synonymous with Chinese steel industry. Despite all the shrill about malaise of steel deluge playing havoc with the market sentiments in China production has remained recalcitrant with steel production jumping by 4.9% in the first 4 months (Jan-April) YOY at 269.881 million tonnes and 68.835 million tonnes in April MoM growth of 4.9%.

Despite aspirations of clocking economic growth of 7.5% in 2014 and moderate to improved steel demand from the massive potential in rural infrastructure and rail network steel price levels have remained depressed for most part the year. Accordingly some drastic measures planned by the government and its agencies have been as follows

China will close down 15 million tonnes per year outdated steel production capacity and 15 million tonnes per year outdated iron making capacities before the end of 2015 in addition to capacities already specified for closure during the 12th Five Year Plan period (2011-15).

Based on the State Council's 12th Five Year Plan issued in August 2012, China is to shut 48 million tonnes per year of outdated steel capacity and 48 million tonnes per year iron capacity before end 2015.

The additional capacities have been ordered for shut down to combat pollution as emissions during 2011-13 lagged requirements.

In mid-May, Chinese mills have somewhat reduced production facing weaker market sentiment. In particular, CISA accounting for some 80% of total steel production in China reported a 1.3% decline in daily steel melting to 1.801 million t over the period under review. Market players believe this is due to seasonal downturn in domestic demand.

Chinese authorities are awake to the reality of oversupplied market and attempts at reining in production have not yielded desired result owing to fragmented structure of the industry in which mills located in forlorn areas operate more on socialistic concerns of employment generation diluting the attempt.

Source – Strategic Research Institute

voda 28 mei 2014 16:25

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Credit Suisse warns on iron ore price sees below 90 levels

The Australian reported that the iron ore price remains below USD 100 as analysts deliver a largely bleak outlook for the commodity.

Credit Suisse said that even if iron ore manages some stability in the near term or even modest gains the H2 of the year is likely to see the commodity price fall below 2012's low of USD 87 per tonne.

Source - The Australian

voda 28 mei 2014 16:26

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Hyundai Steel crosses 100 million tonne mark

Hyundai Steel, the nation’s second largest steelmaker said that accumulative melted iron production from its Incheon plant has surpassed 100 million tonnes becoming the first company in Korea to reach this milestone using an electric furnace.

Hyundai Steel’s Incheon plant has produced melted iron since 1956 and surpassed 50 million tonnes of the substance from its electric furnace in 2001

Source – Koreajoongangdaily.com

voda 28 mei 2014 16:27

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Australian iron ore export to China surges

According to statistics, China’s iron ore imports from Australia totalled 47 million tonnes in April, soaring by 56.4% YoY.

During the first four months of this year, China’s iron ore imports from Australia totalled 165 million tonnes up by 35% on the annual basis.

Source - Tex Reports

voda 28 mei 2014 16:28

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Indonesian iron ore imports and exports up in 2013

According to data released by Statistics Indonesia, Indonesia exported 22.3 million tonnes of iron ore in 2013, surging by 93.2% than the previous year.

Among them, exports to China totaled 22.08 million tonnes, soaring by 93.2% compared to the last year. Besides, Japan occupied around 90,000 tonnes up by 72 times YoY.

South Africa imported some 1.93 million tonnes of iron ore in 2013, up by 98.5% than the last year. The country’s iron ore imports from Brazil hit around 828,000 tonnes up by 41.2% from the prior year.

Source - www.yieh.com

voda 28 mei 2014 16:30

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Crusader Resources starts diamond drilling at Brazil iron ore mine

Crusader Resources has started diamond drilling at its 100% owned Posse Iron Ore Mine in Brazil to determine the depth extent of a newly discovered set of haematite veins within the open pit.

These veins trend about 90 degrees to the previous interpretation. The first hole has intercepted multiple metres of massive haematite which could yield a high percentage of high grade lump products.

Crusader has routinely mapped the newly opened faces of the mine and continued to notice the variable nature of the haematite veins, the principle rock unit which is targeted for its higher percentage content of high-grade lump products.

Posse is located 30 kilometres from Belo Horizonte, a city acknowledged as the mining capital of Brazil. It has a Resource of 36 million tonnes at 43.5% iron and produces iron ore for consumption in the local industry, generating USD 6.7 million for the company in the March 2014 quarter.

Source – Proactive Investors

voda 28 mei 2014 16:31

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ArcelorMittal R&D Centre unveils new steels for lighter cars

ArcelorMittal has launched the first product in a new series of advanced high strength steels, with 10 automotive steel projects set for launch in 2014.

The new steel, HF1050, is a third generation advanced high strength steel for cold stamping, for use in the automotive market. Using HF1050 will result in additional weight reductions in a vehicle’s structural components of up to 10%.

Carmakers have undertaken formability and weldability tests on HF1050 and the product is now ready for use, with the first mass-produced vehicles featuring HF1050 rolling off the production lines in 2016.

A direct result of research carried out at the company’s Maizieres les Metz campus, HF1050 has been developed for the European automotive market and is the first in a series of third generation of advanced high strength steels that ArcelorMittal will launch in the coming years.

Third generation AHSS combine excellent strength properties with formability, allowing a reduction of 10% to 20% in the weight of automotive components, compared with existing grades. This means that automotive manufacturers can meet new CO2 emission requirements and improve vehicle safety.

These new steel grades are ideal for body in white structural parts such as B-pillars and windscreen pillars as they absorb more energy in an impact. Ten new automotive products in 2014

The Maizieres campus recently benefited from new equipment to ensure research projects are carried out equally well on processes (improving the productivity and reliability of the group's plants, developing breakthrough technical processes) as on products and ensuring industrial feasibility. This new equipment includes a thermomechanical treatment simulator to develop higher strength steels and an electron microscope to observe steel reactions at atomic level.

Mr Daniele Quantin director of European research centres and human resources at ArcelorMittal Research and Development said that "The group carries out research and development on a global scale. We collaborate with clients all around the world. The development of new processes and the design of innovative products, accompanied this year by new skills and investment, confirms the leading position of the Maizières-lès-Metz campus as a strategic component of the research and development network that assists all ArcelorMittal units."

Mr Frederic Grein CEO of the Maizieres-les-Metz campus said that “The Maizières-lès-Metz campus currently employs 530 researchers, engineers and technicians and is by far the largest ArcelorMittal research facility. Its work covers almost all the group's activities, from mining to new products, to new steel manufacturing processes."

Source – Strategic Research Institute

voda 28 mei 2014 16:32

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ArcelorMittal Dofasco fined after guilty pleas to 6 pollution charges

ArcelorMittal Dofasco has been fined USD 390,000 after pleading guilty to a series of environmental charges for violations of air quality standards.

The settlement comes after more than a year of delay plagued court proceedings, with an appearance Monday where the company pleaded guilty to six out of 13 environmental charges and the remaining seven being withdrawn.

The charges were initially laid in March 2013 after neighbourhood residents and Environment Hamilton gathered evidence of repeated emissions problems from the Hamilton steelmaker smokestacks. But the delays in laying the charges, the long process of getting the guilty plea and the actual penalty have left residents frustrated, with some calling it too little, too late.

And one activist says problems with emissions are continuing. The Ministry of the Environment laid 13 charges against the Hamilton-based steel company in March 2013 for air emission violations at its coke-making plants between April and August 2012. The ministry alleged that the company exceeded visible emissions (opacity) levels set by the province.

Dofasco's guilty pleas were accepted by the judge. The company was fined USD 65,000 for each count for a total of USD 390,000 plus victim fine surcharges of USD 97,500, to be paid within 30 days.

Dofasco said that the company has committed to continuously improving its operating procedures and performance. At the same time, the company continues to invest in both repair and maintenance and capital improvements for the plants. The incidents took place at the company's three plants where coal is used to produce coke, a fuel for the facility's three blast furnaces.

ArcelorMittal Dofasco's representative turned down CBC Hamilton's interview request but said the company reiterates what was in the statement released on Monday.

The ministry explained that the company was fined for permitting air emissions that blocked light by more than twenty per cent for six consecutive minutes, a violation of the Environmental Protection Act.

The charges stemmed from observations by ministry officers who recorded the opacity how much an emission blocks the passage of light on six days in summer 2012 and confirmed the emissions. The ministry has received a number of complaints related to smoke coming form the facility over the past few years.

Source – Cbc.ca

voda 28 mei 2014 16:33

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ArcelorMittal iron ore output up in Q1 up by 13% YoY

ArcelorMittal produced 14.8 million tonnes of iron ore in the first 3 months of this year, soared by 13% compared to the same period of last year.

Meanwhile, the company’s delivery volume of iron ore in Q1 was 9.3 million tonnes up by 27% YoY.

Source – Strategic Research Institute

voda 29 mei 2014 14:35

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Chinese government has to close down steel mills - KPMG

According to one of the world’s leading advisers to China’s corporate sector, the Chinese government will push ahead with plans to rationalize the domestic steel industry by forcing a number of producers to close down, a move that will bolster demand for iron ore.

Mr Peter Fung the Beijing based global chair of KPMG’s Global China Practice said that “While there were concerns about the social consequences of closing big Chinese steel mills, the government was committed to industry rationalization.

Mr Fung said that “I believe there will be a process but when that process starts is difficult to guess. Some of these plants are big plants. We all agree they need to be closed but how to deal with the social issues when that happens is something that needs a lot of discussion and negotiation at both the central and local government levels.”

Mr Fung said that “This needs to be addressed and I think the government understands it needs to be addressed. How long it takes to get an agreement I don’t know, but this will happen. This trend would intensify. Chinese companies are still looking to acquisitions to secure the supply side. Chinese companies will continue to engage in acquisitions.”

Mr Fung said that “The issue of IP being stolen is still a real concern. But he noted that more and more companies, both domestic Chinese and multinationals, were willing to set up their own R&D centers in China and register their IP in China.”

He said that “The Chinese government is becoming more and more serious in IP perception. This is a real concern, not just to appease multinationals. That is a positive development and I am confident in time the whole mechanism will be better and more finetuned, and that should make multinationals more comfortable.’’

Mr Doug Ferguson head of KPMG’s China practice in Australia said “The Chinese had changed their approach over the past year. They are spending a lot more time strategically planning their investment partners and their local management. A massive difference is the recognition that they cannot go it alone.”

Source – The Australian

voda 29 mei 2014 14:36

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Iron ore goes below USD 97 per tonne - Sets sight on USD 95 mark

The most traded iron ore future contract i1409 for September at the Dalian Commodity Exchange closed at CNY 707 per tonne down by CNY 15 per tonne from opening of CNY 722 per tonne

Iron ore for delivery in July on the Singapore Exchange was down 2 percent at USD 96.08 per tonne by 0711 GMT, the lowest for the contract since SGX introduced iron ore futures in April last year.

According to The Steel Index Ltd iron ore with 62 percent content delivered to the Chinese port of Tianjin fell 1.3 percent to USD 96.80 a dry ton down from USD 98.10 in the previous session, the lowest since September 2012

According to Shanghai Steelhome Information Technology Co stockpiles at Chinese ports climbed 0.7 percent to a record 113.30 million tonnes in the week to May 23 from a week earlier

China’s National Development and Reform Commission said that iron ore prices are unlikely to rise in the next two or three months because of rising supplies from imports, high port inventories and a slowdown in steel product demand

Source – Strategic Research Institute

voda 29 mei 2014 14:41

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US preliminary steel imports increase 15pct in April

Based on preliminary Census Bureau data, the American Iron and Steel Institute announced that the US imported a total of 3,726,000 net tonnes of steel in April, including 2,738,000 net tonnes of finished steel (up 15.2% and 12.2%, respectively, vs. March final data). Year to date total and finished steel imports are 13,451,000 and 9,894,000 net tonnes respectively, up 29% and 20% respectively, vs.

2013. Annualized total and finished steel imports in 2014 would be 40.4 and 29.7 million NT, up 26% and 20% respectively vs. 2013. Finished steel import market share was an estimated 27% in April and is estimated at 26% YTD. Key finished steel products with a significant import increase in April compared to March are wire rods (up 71%), heavy structural shapes (up 43%), line pipe (up 34%), cold rolled sheets (up 27%), standard pipe (up 24%), hot rolled bars (up 21%) and plates in coils (up 14%).

Major products with significant YTD import increases vs. the same period last year include wire rods (up 113%), plates in coils (up 68%), cold rolled sheets (up 52%), reinforcing bars (up 47%), sheets and strip all other metallic coatings (up 41%), sheets and strip galvanized hot dipped (up 35%), hot rolled sheets (35%), mechanical tubing (31%), oil country goods (up 15%) and cut lengths plates (up 13%).

In April, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were from China (416,000 NT up 108% vs. March final), South Korea (401,000 NT, up 16%), Japan (210,000 NT, up 23%), Turkey (138,000 NT down 19%) and Russia (106,000 NT, up 6%). For four months of 2014, the largest offshore suppliers were South Korea (1,567,000 NT, up 27%), China (983,000 NT, up 76%), Japan (707,000 NT, up 8%), Turkey (607,000 NT, up 30%) and Russia (393,000 NT up 295%).

Source – Strategic Research Institute

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