(The hashtag in blog post title will help get better search results in search engines. Only titles can be expected to be searched and I chose #SAILSteelNews)
The U.S. Department of Commerce has imposed countervailing tariffs on coldrolled steel from Brazil, China, India and Russia. ArcelorMittal, AK Steel, U.S.Steel, Nucor Corp. and Steel Dynamics requested tariffs back in July. In a preliminary determination, the Commerce Department decided to place 227% tariffs on all cold-rolled products from China. Duties of 7.42% will be placed on Brazilian steelmakers, while steel producers in Indian and Russia will face tariffs of 4.45% and 6.33% respectively. (Source - Metal Junction)
World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 127 MT in November 2015, a -4.1% decrease compared to November 2014. China’s crude steel production for November 2015 was 63.3 MT, down by -1.6%. Japan produced 8.7 MT of crude steel in November 2015, a decrease of -4.7%. In the EU, Germany produced 3.5 MT of crude steel in November 2015, a decrease of -3.1%. The crude steel capacity utilisation ratio for the 66 countries in November 2015 was 66.9%. This is 4.0% points lower than November 2014. (Source – Steelonthenet)
Banks that have decided to take majority equity control in nine defaulting companies through the strategic debt restructuring (SDR) scheme have started pitching assets of these firms to private equity (PE) firms. Under the SDR scheme, banks are allowed to convert their loans into a majority equity holding, following which they will have only 18 months to find a buyer for these assets. Since the Reserve Bank of India (RBI) announced its guidelines for SDR in June, banks have decided to take majority equity control in Ankit Metal and Power Ltd, Rohit Ferro-Tech Ltd, IVRCL Ltd, Gammon India Ltd, Monnet Ispat and Energy Ltd, Electrosteel Steels Ltd, VISA Steel Ltd, Lanco Teesta Hydropower and Jyoti Structures Ltd. (Source – Steelonthenet)
Spot prices of seaborne HRC in Asia rose for a third consecutive day Monday as Chinese mills increased their offers in light of a surge in domestic prices. Platts assessed HRC 3.0mm thick at US$ 260-265/T FOB China Monday and up by US$ 5/T from last Friday. Benxi Iron & Steel (Bengang) in northeastern China lifted its offers by US$ 20/T to US$ 285/T FOB China. (Source - SBB, London)
Jiangsu Shagang Group, China’s largest privately-owned steelmaker, will increase its ex-works rebar prices for the December 21-31 period by US$ 5/T. This is the east China steelmaker’s first increase after four consecutive reductions since mid-November that totaled US$ 42/T. The increase took Shagang’s price for 16-25mm rebar to US$ 281/T. (Source - SBB, London)
The U.S. Department of Commerce has imposed countervailing tariffs on coldrolled steel from Brazil, China, India and Russia. ArcelorMittal, AK Steel, U.S.Steel, Nucor Corp. and Steel Dynamics requested tariffs back in July. In a preliminary determination, the Commerce Department decided to place 227% tariffs on all cold-rolled products from China. Duties of 7.42% will be placed on Brazilian steelmakers, while steel producers in Indian and Russia will face tariffs of 4.45% and 6.33% respectively. (Source - Metal Junction)
World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 127 MT in November 2015, a -4.1% decrease compared to November 2014. China’s crude steel production for November 2015 was 63.3 MT, down by -1.6%. Japan produced 8.7 MT of crude steel in November 2015, a decrease of -4.7%. In the EU, Germany produced 3.5 MT of crude steel in November 2015, a decrease of -3.1%. The crude steel capacity utilisation ratio for the 66 countries in November 2015 was 66.9%. This is 4.0% points lower than November 2014. (Source – Steelonthenet)
Banks that have decided to take majority equity control in nine defaulting companies through the strategic debt restructuring (SDR) scheme have started pitching assets of these firms to private equity (PE) firms. Under the SDR scheme, banks are allowed to convert their loans into a majority equity holding, following which they will have only 18 months to find a buyer for these assets. Since the Reserve Bank of India (RBI) announced its guidelines for SDR in June, banks have decided to take majority equity control in Ankit Metal and Power Ltd, Rohit Ferro-Tech Ltd, IVRCL Ltd, Gammon India Ltd, Monnet Ispat and Energy Ltd, Electrosteel Steels Ltd, VISA Steel Ltd, Lanco Teesta Hydropower and Jyoti Structures Ltd. (Source – Steelonthenet)
Spot prices of seaborne HRC in Asia rose for a third consecutive day Monday as Chinese mills increased their offers in light of a surge in domestic prices. Platts assessed HRC 3.0mm thick at US$ 260-265/T FOB China Monday and up by US$ 5/T from last Friday. Benxi Iron & Steel (Bengang) in northeastern China lifted its offers by US$ 20/T to US$ 285/T FOB China. (Source - SBB, London)
Jiangsu Shagang Group, China’s largest privately-owned steelmaker, will increase its ex-works rebar prices for the December 21-31 period by US$ 5/T. This is the east China steelmaker’s first increase after four consecutive reductions since mid-November that totaled US$ 42/T. The increase took Shagang’s price for 16-25mm rebar to US$ 281/T. (Source - SBB, London)
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