Northern China’s Anshan Iron & Steel (Angang) would raise the March ex-works prices of its HRC by US$ 15/T, while keeping its CRC prices unchanged. Hebei Iron & Steel (Hegang), north China, also increased its March HRC ex-works prices by US$ 7.5/T and its CRC prices by US$ 15/T. As a result, Angang's exworks price for 5.5mm HRC increased to US$ 333/T excluding 17% VAT while its 1.0mm CRC price would be unchanged at US$ 420/T non-VAT. As per analysts, price rises for March were within their expectation as March is a traditionally strong season for the steel market. (Source - SBB, London)
Tata Steel has increased its offer prices for flat products in the UK in what could be the first of many such announcements in Europe in the coming weeks, following anti-dumping measures instigated by the European Commission. The UK’s sole integrated producer is looking to take advantage of a dearth of imports in its domestic market and end the near two-year slump in prices. Tata has raised offers for cold rolled coil by GBP 40/T while prices of other products including HRC and HDG are up by GBP 30/T. (Source - SBB, London)
European steelworkers protested in Brussels against the likely award of 'market economy status' on China – a move guaranteed to open the floodgates to cheap Chinese steel being dumped on Western European markets. It is argued that China is not an economy operating under market conditions and that to it could be catastrophic for the European steel industry. (Source - Steel Times International)
Spot price for benchmark 62% fines rose by a further 1.7%, or 79 cents, to US$ 47.14 a tonne on Thursday, leaving the price at a fresh three-month high. The rally over recent weeks has been very good, particularly given the negative sentiment towards the commodity in the early parts of the year. Year to date the benchmark price has rallied 8.2%, with the gain from the all time record low of US$ 38.30/T. (Source - Metal Junction)
Liberty Steel, UK has expanded its investment in the troubled UK steel sector by buying a second plant, but warned it could move planned work overseas if it could not secure a reliable and affordable energy supply. The company, did not say where the plant was, nor how much it cost. Producing steel profitably in Britain is difficult because of energy costs and green taxes that are some of the highest in the world, steep labour and logistics costs and high business rates. (Source - Press Reports)
Tata Steel has increased its offer prices for flat products in the UK in what could be the first of many such announcements in Europe in the coming weeks, following anti-dumping measures instigated by the European Commission. The UK’s sole integrated producer is looking to take advantage of a dearth of imports in its domestic market and end the near two-year slump in prices. Tata has raised offers for cold rolled coil by GBP 40/T while prices of other products including HRC and HDG are up by GBP 30/T. (Source - SBB, London)
European steelworkers protested in Brussels against the likely award of 'market economy status' on China – a move guaranteed to open the floodgates to cheap Chinese steel being dumped on Western European markets. It is argued that China is not an economy operating under market conditions and that to it could be catastrophic for the European steel industry. (Source - Steel Times International)
Spot price for benchmark 62% fines rose by a further 1.7%, or 79 cents, to US$ 47.14 a tonne on Thursday, leaving the price at a fresh three-month high. The rally over recent weeks has been very good, particularly given the negative sentiment towards the commodity in the early parts of the year. Year to date the benchmark price has rallied 8.2%, with the gain from the all time record low of US$ 38.30/T. (Source - Metal Junction)
Liberty Steel, UK has expanded its investment in the troubled UK steel sector by buying a second plant, but warned it could move planned work overseas if it could not secure a reliable and affordable energy supply. The company, did not say where the plant was, nor how much it cost. Producing steel profitably in Britain is difficult because of energy costs and green taxes that are some of the highest in the world, steep labour and logistics costs and high business rates. (Source - Press Reports)
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