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Mr Michael Albrecht Platts is the best and most informative Steel industry publication. A must read for everyone in the industry. Platts gives me a global perception on what is going on in the market… It is a powerful tool for negotiating steel prices. Complete and comprehensive. The initial surplus generated by the major expansion would be exported to neighboring countries, as well as the Ecuadorian market.
Ecuador's distributors used to import long-rolled steel from AZA in Chile, but since the beginning of this year Ecuadorian traders have been reporting some lack of Chilean offers, SBB notes. Brazilian flats producer Cosipa plans to use gas from its blast furnace to increase its own power generation, Steel Business Briefing learns from a supplier.
Construction of the power project should start this year, and will produce around 12 megawatts of energy per hour. Steel Business Briefing is told by a company executive that this price freeze is only for local sales, and the export price for July has not been announced yet.
He stressed in announcing the price freeze that priority is given to the local market at all times. Qatar Steel produced over 1. Rebar and wire rod imports to the country are expected to stop if the domestic price remains far below international prices, market sources told SBB. Steel Business Briefing is told by a company executive that export prices did not change much in June but some more increase is expected in the future. As previously reported by Steel Business Briefing , disagreements regarding the price led Acepar to switch from charcoal to mineral coal earlier this month.
However, charcoal suppliers resumed deliveries to the mill last Wednesday. US-based global investment firm BlackRock has acquired a According to news reports, BlackRock bought Last September, BlackRock bought 5. US scrap prices across the board are headed up again next month, sources tell Steel Business Briefing , but the amounts of the increases are still unknown.
The American Axle strike is settled, increasing scrap availability, but replenished supply will not be enough to offset the seasonal automotive scrap deficit about to take place as carmakers prepare for their annual model changeover. Mill demand for the raw material is the main price driver. One mill faced a 17, l. Production is expected to commence in the latter part of , an executive tells Steel Business Briefing. The non-ferrous assets are located in Brazil's northeastern state of Bahia.
Details regarding the contracts and the deposits were not disclosed. Votorantim already produces refined nickel and zinc in Brazil and has significant zinc ore production in Peru, SBB notes. One of the most dramatic falls that market-watchers can remember hit the ocean shipping market late last week.
Large Capesize vessels are used to ship iron ore, coal and other commodities. Freight analysts had several reasons to explain the drop. Port congestion has eased, notably in China and Australia, bringing more vessels into the market.
The Baltic Capesize Index had surged to an all-time high in the first week of this month. As a result, charterers are holding off from concluding new business, in the expectation of rates weakening further. Despite the fall, freight rates are still more than double what they were a year ago. Qinghuangdao Shouqin Metal Materials, a Shougang subsidiary based in Qinghuangdao city in China's Hebei province, has secured more local iron ore resources in Qinghuangdao city, Steel Business Briefing learns from a municipal government source.
Earlier this month, Shouqin held a ceremony in Qinglong county, Qinghuangdao, to celebrate the building of a pellet plant and matching iron ore concentrator. The project will depend on local iron ore resources, SBB learns.
It mainly produces plates including ship plates and pressure vessel plates. Condor Nickel is a spin-off of the nickel and base-metals assets of Australia-listed gold miner Carrick Gold. Condor Nickel is set to list on the Australian bourse on 19 June. Condor Nickel has 10m t of resources at 0. Several traders say that the market has so far reacted calmly to news of the export tax in India.
A Beijing-based iron ore trader believes the tax will not affect the spot market, agreeing with his Shanghai peer that stocks at ports are likely to limit the impact. He also says the unsteady domestic steel market and mills' lack of funds will not allow them to accept a large price increase. The Beijing trader also suggests imports from India may stop for a period because mills generally have sufficient stocks of ore.
Ocean freight rates for iron ore have also dropped since last week, undermining confidence in the high spot price, SBB learns. Atlas requires just ministerial approval before it can begin mining at the Pilbara project in August, with the first ore shipment expected to leave Port Hedland in October.
This will also include 40 new locomotives, 2, new ore cars, as well as investment in rolling stock and re-railing. Announcing the investment, Rio said the technology has been used on metropolitan passenger railways around the world but that this was the first time it will be used in a heavy haul railway of this scale.
It should improve efficiency by reducing delays and increasing scheduling flexibility. Rio said one of its loaded trains typically weighs about 30,t, is 2. There are train journeys using the network each week, taking 33 hours on average to complete a cycle with a train movement occurring along the line roughly every 25 minutes, Steel Business Briefing learns.
The main objective is to gauge the perception of Vale as a leading global mining company with expansion goals that has not lost it national identity. This is because some of its shares belong to the Brazilian government, which has at times reacted against its international strategy. The company also wants to know if people perceive that its internationalization strategy could reduce its investment in the domestic market. Another question is whether the company has become more, or less, Brazilian after becoming a global player.
Romanian stainless producer, Otelinox says it will expand its precision strip operations three-fold by The new standard-width rolling mill will have an increased product range of 0. The main product will be wide precision strip, it adds. Otelinox mainly supplies ultra-fine precision strip for use in the automotive, aerospace and electronic industries — mainly in Europe. Commissioning is expected in the first quarter of , a senior executive of Tsingshan Holding Group, the majority shareholder of Tsingshan Jinhui, tells Steel Business Briefing.
The company will decrease production of stainless billets with the start-up of the slab caster, the facility itself a first for Tsingshan Jinhui, the official says. Zhejiang-based Tsingshan Holding is a private stainless steelmaker whose products include bars, pipes, wire rods and strips. Its targeted production for is ,, t of stainless steel, as SBB previously reported.
Nickel prices look set to continue rising as a result of recent production difficulties, according to analysts at Macquarie Research.
As a result, raw material surcharges on stainless steel and other alloy steels could return to an upward trend. Last Friday the LME cash nickel price rose 5. After coming under heavy downward pressure in the past month as a result of production cuts by some stainless steel producers, nickel prices have bounced back strongly. The nickel production losses in Australia as a result of the Apache gas explosion look to be large enough to eliminate virtually all of the previously anticipated surplus, the analysts say.
In May and early June the nickel market appeared to be heading into a large surplus. Such pipes have a diameter of 55mm, lengths of up to 38 metres, and coil weights of up to 10 tonnes, SBER says. A new workshop to house the necessary production equipment is presently being built in Ternitz as an extension of the existing facility. Production is due to commence in early With crude oil commanding unprecedented high prices, rig activity in the coming months, and with it the demand for OCTG products, could very likely continue to outstrip prior year levels.
The biggest gain was in Canada, but numbers slipped in Africa and Latin America, and there was no change in the Middle East see table. America A Maruichi spokesman tells SBB the company decided to install the large dia mill to meet growing domestic Vietnamese and Southeast Asian demand.
Domestic and export sales will be about , he adds. At the end of March Maruichi bought 6. Sun Steel Holdings now owns
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