Outokumpu has completed the sale of its 50% interest in stainless steel tube producer Fischer Mexicana. It has sold its interest to joint venture partner Fischer Edelstahlrohre for US$63 million. As a result of the sale, the Finnish stainless steel group has reduced its debt by Euro 50 million. It comes on top of Outokumpu’s recent sale of a majority stake in its Chinese affiliate SKS which also generated funds for debt reduction. (Source - SBB, London)
Uncoated sheet prices in the US showed modest increases last week, but there were further declines in Europe and Asia, as per The Steel Index’s price report for the 7-13 December week. The weekly average of TSI’s daily reference price for hot rolled coil increased by US$ 3/short ton to US$ 367/st FOB US Midwest mill, while CRC gained US$ 4/st. In Southern Europe TSI’s HRC reference price fell by Euro 2/T to Euro 277/T ex-mill last week, while HDG gained Euro 2/T. HRC also dipped in northern Europe, losing Euro 1/T to Euro 317/T ex-mill. TSI’s reference price for HRC in Asia weakened by US$ 2/T to US$ 272/T CFR ASEAN port last week. (Source - SBB, London)
China’s consumption of steel in 2015 is likely to fall by 4.8% year-on-year to 668 MT and to a level of 648 MT (drop of 3%) in 2016, as per Chinese Govt. China’s crude steel output and iron ore demands are expected to be 806 MT and 1.12 billion tonnes respectively in 2015 and 781MT and 1.073 billion T in 2016. The root causes of the problem are slowing property investment and weakening manufacturing. (Source – Steeltimesinternational)
Production of crude steel in India grew by around 8% to 59.75 MT in the first eight months of fiscal 2015-16 as compared to 55.32 MT in CPLY. In the first 10 months of calendar year 2015, the country has achieved the third position with a share of 5.6% in global steel production. The top two leading producers China and Japan have a share of 50.2% and 6.2%, respectively in the global steel production. (Source - Metal Junction)
Spot hot rolled coil prices in the US Midwest market fell to a near 12-year low during November despite recent action by domestic steelmakers against perceived unfair trade activity. Whilst the flow of imports steadily slows each month, a glut of domestic steel and shortening delivery lead-times continue to negatively weigh on prices. After hot rolled coil (HRC) prices breached the US$ 400 a short ton floor in late October, November spot prices came down by a further US$ 29 a short ton FOB Midwest Mill over a four-week period to US$ 364 a short ton. (Source - Shanghai Metal Market)
Uncoated sheet prices in the US showed modest increases last week, but there were further declines in Europe and Asia, as per The Steel Index’s price report for the 7-13 December week. The weekly average of TSI’s daily reference price for hot rolled coil increased by US$ 3/short ton to US$ 367/st FOB US Midwest mill, while CRC gained US$ 4/st. In Southern Europe TSI’s HRC reference price fell by Euro 2/T to Euro 277/T ex-mill last week, while HDG gained Euro 2/T. HRC also dipped in northern Europe, losing Euro 1/T to Euro 317/T ex-mill. TSI’s reference price for HRC in Asia weakened by US$ 2/T to US$ 272/T CFR ASEAN port last week. (Source - SBB, London)
China’s consumption of steel in 2015 is likely to fall by 4.8% year-on-year to 668 MT and to a level of 648 MT (drop of 3%) in 2016, as per Chinese Govt. China’s crude steel output and iron ore demands are expected to be 806 MT and 1.12 billion tonnes respectively in 2015 and 781MT and 1.073 billion T in 2016. The root causes of the problem are slowing property investment and weakening manufacturing. (Source – Steeltimesinternational)
Production of crude steel in India grew by around 8% to 59.75 MT in the first eight months of fiscal 2015-16 as compared to 55.32 MT in CPLY. In the first 10 months of calendar year 2015, the country has achieved the third position with a share of 5.6% in global steel production. The top two leading producers China and Japan have a share of 50.2% and 6.2%, respectively in the global steel production. (Source - Metal Junction)
Spot hot rolled coil prices in the US Midwest market fell to a near 12-year low during November despite recent action by domestic steelmakers against perceived unfair trade activity. Whilst the flow of imports steadily slows each month, a glut of domestic steel and shortening delivery lead-times continue to negatively weigh on prices. After hot rolled coil (HRC) prices breached the US$ 400 a short ton floor in late October, November spot prices came down by a further US$ 29 a short ton FOB Midwest Mill over a four-week period to US$ 364 a short ton. (Source - Shanghai Metal Market)
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