The first quarter of 2016 may see the price of iron ore, Australia's biggest mineral export, slip below the record-low prices it touched in 2015. Ore with 62% iron content delivered to the Chinese port of Qingdao finished the year at US$ 43.57/T, having reached lows of US$ 38.30/T in December. The raw material fell for the third straight year in 2015 and has lost 80% since peaking in 2011 at US$ 191.70/T. As per ANZ - iron ore would come under most price pressure in the first quarter of 2016. (Source – Steelonthenet)
Spot prices of rebar in Asia rose on Monday for the first time in five months, as Chinese exporters increased their offers by at least US$ 10/T, reflecting a sustained rebound in domestic prices since mid-December. Platts assessed 16- 20mm diameter rebar at US$ 245-248/T FOB China, up by US$ 1.50/T from last Thursday, marking the first increase since the week of August 3. Jinxi Iron & Steel, based in the northern Hebei province, confirmed having lifted its offers by US$ 10/T from end-December to about US$ 255/T FOB. An eastern Chinese trader hiked its offers by a similar amount to US$ 250-255/T FOB. (Source - SBB, London)
The assets of the Italian longs producer Stefana are expected to be sold by the end of 2016. The company stopped producing in December 2014 and has entered administration in order to sell off its assets and pay its creditors. The main offer for the mills is that made by a joint venture of GIP Srl, together with one of the main Italian supermarket chains, Esselunga. Italian steelmaker Alfa Acciai has entered the bidding process for two of Stefana’s sites. (Source - SBB, London)
China’s large and medium-sized steel mills suffered losses of US$ 8.18 billion in the first eleven months of 2015, according to China Iron and Steel Association (CISA). Of the 101 steel mills tracked by the CISA, the total sales revenue stood at US$ 425 bn., down by 19.3% from the previous year. In the first eleven months of 2015, China’s crude steel production dropped by 2.2% year on year to 738.38 MT. (Source - Metal Junction)
US imported a total of 2.35 MT of steel in November 2015. On the year-to-date — through eleven months of 2015 — total and finished steel imports were 36.29 MT and 29.37 MT respectively, down by 11% and 5% respectively, vs. the same period in 2014. Annualized total and finished steel imports in 2015 would be 39.6 and 32 MT, down by 11% and 5% respectively vs. 2014. Finished steel import market share was an estimated at 25% in November and is estimated at 29% on the year-to-date. (Source - Shanghai Metal Market)
Spot prices of rebar in Asia rose on Monday for the first time in five months, as Chinese exporters increased their offers by at least US$ 10/T, reflecting a sustained rebound in domestic prices since mid-December. Platts assessed 16- 20mm diameter rebar at US$ 245-248/T FOB China, up by US$ 1.50/T from last Thursday, marking the first increase since the week of August 3. Jinxi Iron & Steel, based in the northern Hebei province, confirmed having lifted its offers by US$ 10/T from end-December to about US$ 255/T FOB. An eastern Chinese trader hiked its offers by a similar amount to US$ 250-255/T FOB. (Source - SBB, London)
The assets of the Italian longs producer Stefana are expected to be sold by the end of 2016. The company stopped producing in December 2014 and has entered administration in order to sell off its assets and pay its creditors. The main offer for the mills is that made by a joint venture of GIP Srl, together with one of the main Italian supermarket chains, Esselunga. Italian steelmaker Alfa Acciai has entered the bidding process for two of Stefana’s sites. (Source - SBB, London)
China’s large and medium-sized steel mills suffered losses of US$ 8.18 billion in the first eleven months of 2015, according to China Iron and Steel Association (CISA). Of the 101 steel mills tracked by the CISA, the total sales revenue stood at US$ 425 bn., down by 19.3% from the previous year. In the first eleven months of 2015, China’s crude steel production dropped by 2.2% year on year to 738.38 MT. (Source - Metal Junction)
US imported a total of 2.35 MT of steel in November 2015. On the year-to-date — through eleven months of 2015 — total and finished steel imports were 36.29 MT and 29.37 MT respectively, down by 11% and 5% respectively, vs. the same period in 2014. Annualized total and finished steel imports in 2015 would be 39.6 and 32 MT, down by 11% and 5% respectively vs. 2014. Finished steel import market share was an estimated at 25% in November and is estimated at 29% on the year-to-date. (Source - Shanghai Metal Market)
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