World crude steel production for the 66 countries reporting to the WSA was 120 MT in February 2016. This is a -3.3% decrease compared to February 2015. China’s crude steel production for February 2016 was 58.5 MT, a decrease of -4.0% compared to February 2015. Elsewhere in Asia, Japan produced 8.4 MT of crude steel in February 2016, a decrease of -1.0% compared to February 2015. In the EU, Germany produced 3.4 MT of crude steel in February 2016, a decrease of -4.3% compared to February 2015. The crude steel capacity utilisation ratio of the 66 countries in February 2016 was 66.2%. This is -5.7% lower than February, 2015. (Source – Steelonthenet)
After hefty price increases in the Black Sea markets in recent weeks, buyers are facing another round of hikes of CIS-origin export quotes for May production, June shipment. Seeing some success in applying earlier increases, CIS exporters are encouraged to push for even higher numbers. Hot rolled coil quotations for non-EU destinations from Russia were pegged at US$ 370 /T and CRC asking prices stood at US$ 450/T, both FOB Black Sea, for June shipment. (Source - SBB, London)
Indian Government is readying a financial package to help revive the steel sector and also prevent bank loans advanced to steel firms from turning bad. A number of options are being considered, including bringing in international investors to invest in domestic steel companies. There are a broad range of proposals that include banks taking certain equity as redeemable preference shares and then giving the companies enough time to redeem them. There are other proposals, where the Govt. is looking at bringing in financial investors who can hold some of these stakes for a period of time, and then when the company comes back to health, they can disinvest. Govt. is also looking at bringing in certain external or international investors who can pump in fresh equity into these companies. (Source – Metaljunction)
Iron ore extended a gain toward US$ 60/T as further signs of a recovery in China's property market, coupled with policymakers' plans to loosen margin-lending controls in equity trading, helped to improve sentiment. Ore with 62% content in Qingdao rose for a fourth day, increasing by 2.3% to US$ 58.82/ dmt. Iron ore has advanced this year, rebounding from three annual losses and surprising forecasters who'd predicted further declines. (Source - Metal Junction)
Tokyo Steel Manufacturing, Japan's top electric arc furnace steelmaker, will raise prices of rebars for April delivery by 5% in its first hike in over two years, reflecting a rebound in spot prices at home and abroad. The company will increase prices for rebar, by US$ 17.83/T to US$ 392.26/T. That is Tokyo Steel's first price hike since January delivery in 2014, possibly indicating that the market has bottomed out after slumping on oversupply. Tokyo Steel's pricing strategy is closely watched by Asian rivals such as Posco, Hyundai Steel Co and Baosteel, which export to Japan. (Source - Press Reports)
After hefty price increases in the Black Sea markets in recent weeks, buyers are facing another round of hikes of CIS-origin export quotes for May production, June shipment. Seeing some success in applying earlier increases, CIS exporters are encouraged to push for even higher numbers. Hot rolled coil quotations for non-EU destinations from Russia were pegged at US$ 370 /T and CRC asking prices stood at US$ 450/T, both FOB Black Sea, for June shipment. (Source - SBB, London)
Indian Government is readying a financial package to help revive the steel sector and also prevent bank loans advanced to steel firms from turning bad. A number of options are being considered, including bringing in international investors to invest in domestic steel companies. There are a broad range of proposals that include banks taking certain equity as redeemable preference shares and then giving the companies enough time to redeem them. There are other proposals, where the Govt. is looking at bringing in financial investors who can hold some of these stakes for a period of time, and then when the company comes back to health, they can disinvest. Govt. is also looking at bringing in certain external or international investors who can pump in fresh equity into these companies. (Source – Metaljunction)
Iron ore extended a gain toward US$ 60/T as further signs of a recovery in China's property market, coupled with policymakers' plans to loosen margin-lending controls in equity trading, helped to improve sentiment. Ore with 62% content in Qingdao rose for a fourth day, increasing by 2.3% to US$ 58.82/ dmt. Iron ore has advanced this year, rebounding from three annual losses and surprising forecasters who'd predicted further declines. (Source - Metal Junction)
Tokyo Steel Manufacturing, Japan's top electric arc furnace steelmaker, will raise prices of rebars for April delivery by 5% in its first hike in over two years, reflecting a rebound in spot prices at home and abroad. The company will increase prices for rebar, by US$ 17.83/T to US$ 392.26/T. That is Tokyo Steel's first price hike since January delivery in 2014, possibly indicating that the market has bottomed out after slumping on oversupply. Tokyo Steel's pricing strategy is closely watched by Asian rivals such as Posco, Hyundai Steel Co and Baosteel, which export to Japan. (Source - Press Reports)
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