The East Asian billet import market softened last week, driven by increased export supply and weaker sentiment in China. Platts reduced its East Asian 120/130mm billet weekly assessment to US$380-390/T Friday down by US$20/T, a week before. (Source - SBB, London)
Both HRC and CRC prices in the US jumped on Friday as delivery times were extended. Platts raised its daily HRC and CRC assessments to US$ 600-610/s.T. and US$ 800-820/s.T. on Friday, respectively, up from US$ 560-580/s.T. and US$ 740-760/s.T. (Source - SBB, London)
Prices in the metallurgical coal spot market softened last week as sellers started to offload cargoes at much more competitive prices in view of less firm demand than expected. Platts assessed Premium Low Vol. FOB Australia US$ 2/T lower on the week on Friday at US$ 97.50/T. (Source – SBB, London)
India’s overall steel consumption in April rose by 5.2% on-year to 5.75 MT. India’s overall steel imports declined by 15.5% y-o-y to 654,000 T during April. Overall steel output moved up by 3.2% y-o-y in April, to 7.48 MT.(Source – SBB, London)
A surge in China prices failed to control steel exports in the first four months of this year, signaling that demand remains weak in China. China’s steel exports moved up to 36.9 MT in the four months to April, up by 7.6% from a year earlier. (Source - Metal Junction)
As per Goldman Sachs, iron ore prices will keep dropping throughout 2016, though not as much as it initially forecast, citing continued oversupply as the primary reason. It has raised its quarterly outlook for iron ore by 47% to US$ 55/T which would be the metal's peak for the year. From there, it will drop steadily to US$ 40/T by the fourth quarter. (Source – Mining)
India’s steel ministry will set up a dedicated fund for the steel sector under the National Investment and Infrastructure Fund (NIIF), India’s first quasi-sovereign wealth fund. The move is aimed at bringing down capital costs for the steel industry, which could see a US$ 190 billion in investment for 300 MTpa capacity. (Source - Press Reports)
Italian steel group Marcegaglia has made an offer for Italy's Ilva steel plant along with Arcelor Mittal. Last year, the Italian state took over administration of lossmaking Ilva. (Source - Press Reports)
Both HRC and CRC prices in the US jumped on Friday as delivery times were extended. Platts raised its daily HRC and CRC assessments to US$ 600-610/s.T. and US$ 800-820/s.T. on Friday, respectively, up from US$ 560-580/s.T. and US$ 740-760/s.T. (Source - SBB, London)
Prices in the metallurgical coal spot market softened last week as sellers started to offload cargoes at much more competitive prices in view of less firm demand than expected. Platts assessed Premium Low Vol. FOB Australia US$ 2/T lower on the week on Friday at US$ 97.50/T. (Source – SBB, London)
India’s overall steel consumption in April rose by 5.2% on-year to 5.75 MT. India’s overall steel imports declined by 15.5% y-o-y to 654,000 T during April. Overall steel output moved up by 3.2% y-o-y in April, to 7.48 MT.(Source – SBB, London)
A surge in China prices failed to control steel exports in the first four months of this year, signaling that demand remains weak in China. China’s steel exports moved up to 36.9 MT in the four months to April, up by 7.6% from a year earlier. (Source - Metal Junction)
As per Goldman Sachs, iron ore prices will keep dropping throughout 2016, though not as much as it initially forecast, citing continued oversupply as the primary reason. It has raised its quarterly outlook for iron ore by 47% to US$ 55/T which would be the metal's peak for the year. From there, it will drop steadily to US$ 40/T by the fourth quarter. (Source – Mining)
India’s steel ministry will set up a dedicated fund for the steel sector under the National Investment and Infrastructure Fund (NIIF), India’s first quasi-sovereign wealth fund. The move is aimed at bringing down capital costs for the steel industry, which could see a US$ 190 billion in investment for 300 MTpa capacity. (Source - Press Reports)
Italian steel group Marcegaglia has made an offer for Italy's Ilva steel plant along with Arcelor Mittal. Last year, the Italian state took over administration of lossmaking Ilva. (Source - Press Reports)
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