SSAB and ArcelorMittal USA announced US$ 30/s.T. price increases on US plate products, effective immediately. The moves mark the third recent attempt to push prices up in the NA plate market, following announcements in December 2015 and January. Both attempts were US$ 30/s.T. and were partially successful, increasing transaction prices approximately US$ 30/s.T. total. (Source - SBB, London)
The US Department of Commerce issued prohibitive preliminary anti dumping duties on cold-rolled coil from China, Brazil, Japan and the UK as well as lower duties for India, South Korea and Russia. All Chinese producers received a preliminary AD duty of 265.79% based on adverse facts available. Brazil’s CSN participated in the trade case and received a 38.93% preliminary dumping margin. Japanese companies received a duty margin of 71.35% based on adverse facts available. (Source - SBB, London)
Spot prices of regionally-traded HRC in Asia kept rising for a second consecutive day on higher offers and bids. Platts assessed HRC 3.0mm thick at US$ 300-305/T FOB China, up by US$ 5/T on the day. In Shanghai’s merchant market, 5.5mm HRC was assessed at US$ 325-329/T including 17% VAT, up by US$ 7/T from Monday. (Source - SBB, London)
Domestic steel companies are set to shortly increase prices by Rs 2,000/T, taking the total increase to Rs. 6,000-7,000/T since February. The increase in cold rolled products would be Rs. 2,000/T and of long products, Rs. 2,000-3,500/T. Some of the primary producers have already intimated their customers that the new prices would be effective from March 1, while others are expected to follow suit shortly. (Source - Metal Junction)
From March 18, Bureau of Indian Standards (BIS) will make ISI certification mandatory for more steel products. With this directive, those steel products meant for the construction and automobile sectors will need ISI marking to sell them in the city. Already, 20 different steel products are under the ambit of ‘mandatory BIS certification’. (Source – Metal Junction)
Brazil miner Vale SA expected 70 MT of global iron ore capacity to be shut down this year and another 30 MT of capacity will also be “at risk”. More Chinese capacity is at risk from low prices. China’s domestic production capacity fell to 184 MT in 2015 from 335 MT in 2013. (Source – Press Reports)
Mining and trading company Glencore has plunged to an US$ 8 bn. loss in 2015. The loss came after a US$ 4.2 bn. profit a year earlier. Like other miners, the company has been hit hard by the collapse in commodity prices linked to slowing demand from China. Glencore has slashed production of zinc, coal, copper and oil as well as cutting investment and costs. It has sold off US$ 1.6 bn. of assets. (Source – Mining)
The US Department of Commerce issued prohibitive preliminary anti dumping duties on cold-rolled coil from China, Brazil, Japan and the UK as well as lower duties for India, South Korea and Russia. All Chinese producers received a preliminary AD duty of 265.79% based on adverse facts available. Brazil’s CSN participated in the trade case and received a 38.93% preliminary dumping margin. Japanese companies received a duty margin of 71.35% based on adverse facts available. (Source - SBB, London)
Spot prices of regionally-traded HRC in Asia kept rising for a second consecutive day on higher offers and bids. Platts assessed HRC 3.0mm thick at US$ 300-305/T FOB China, up by US$ 5/T on the day. In Shanghai’s merchant market, 5.5mm HRC was assessed at US$ 325-329/T including 17% VAT, up by US$ 7/T from Monday. (Source - SBB, London)
Domestic steel companies are set to shortly increase prices by Rs 2,000/T, taking the total increase to Rs. 6,000-7,000/T since February. The increase in cold rolled products would be Rs. 2,000/T and of long products, Rs. 2,000-3,500/T. Some of the primary producers have already intimated their customers that the new prices would be effective from March 1, while others are expected to follow suit shortly. (Source - Metal Junction)
From March 18, Bureau of Indian Standards (BIS) will make ISI certification mandatory for more steel products. With this directive, those steel products meant for the construction and automobile sectors will need ISI marking to sell them in the city. Already, 20 different steel products are under the ambit of ‘mandatory BIS certification’. (Source – Metal Junction)
Brazil miner Vale SA expected 70 MT of global iron ore capacity to be shut down this year and another 30 MT of capacity will also be “at risk”. More Chinese capacity is at risk from low prices. China’s domestic production capacity fell to 184 MT in 2015 from 335 MT in 2013. (Source – Press Reports)
Mining and trading company Glencore has plunged to an US$ 8 bn. loss in 2015. The loss came after a US$ 4.2 bn. profit a year earlier. Like other miners, the company has been hit hard by the collapse in commodity prices linked to slowing demand from China. Glencore has slashed production of zinc, coal, copper and oil as well as cutting investment and costs. It has sold off US$ 1.6 bn. of assets. (Source – Mining)
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