Eurobench.com

voda 2 november 2014 15:25

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Modest strengthening steel demand in 2015 despite weakened sentiment - EUROFER

Economic growth in the EU remained soft so far this year, with particularly a disappointing performance of the Euro area in the Q2. Exports were the key driver of growth rather than domestic demand.

Indicators losing strength over the third quarter suggest that the EU economy will continue to struggle to gain momentum. Confidence has gradually come under pressure again due to geopolitical unrest and more specifically on concerns about the impact on trade sanctions imposed by Russia. But there are also concerns that the sluggish economic performance of France and Italy could stall the recovery in the EU. Moreover, slowing growth in the large emerging economies is acting as a drag on exports.

Despite business conditions currently being rather opaque, the scenario of a modest recovery still seems plausible, with investment and private consumption gaining some momentum once confidence stabilises. Activity growth in the steel user sectors slowed sharply in Q2 2014.

EU steel demand growth decelerated in Q2 2014 to 4.4% YoY. The rise in demand was however taken by imports as total steel imports grew 26% y-o-y and long product imports even by 49% YoY. Meanwhile, shipments of EU mills to the domestic market stabilised around the year earlier level which implies that they are losing out to third country suppliers.

Sluggish final steel demand and destocking will result in a slight drop in apparent steel demand in H2 2014. For 2014 as a whole this results in a year-on-year growth of 2.6%. While lower than the July forecast, it still confirms the view of a moderate recovery of the EU steel market. Fairly similar growth is forecast for 2015.

Mr Axel Eggert acting DG of EUROFER said that “Q1 activity growth was temporarily boosted by a base year effect. More recent data and indicators unfortunately signal that in most sectors underlying momentum is still rather slow. Most companies have not seen much of an improvement in new orders, output and capacity utilisation rates whereas confidence came under pressure. We expect total output growth to be around 2.3% in 2014. Growth in 2015 is not foreseen to be much higher, but more balanced over the year and more harmonised across the steel using sectors.”

Mr Axel Eggert said that “Steel market conditions are foreseen to remain muted in 2015, although a moderate strengthening of demand is to be expected in line with the mild further rise in activity of the steel using sectors in the EU. However, imports are to remain on a high level, thereby exerting severe margin pressure on EU steel mills. Difficult business conditions for the EU steel sector will continue as long as demand growth remains dull and imports remain on an elevated level.”

Source – Strategic Research Institute

voda 2 november 2014 15:27

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TATA Steel delivers on UK's longest new domestic railway for more than a century

TATA Steel has begun delivery of rail which will carry thousands of passengers every day on the longest completely new rail line to be built in the UK in more than 100 years.

The Borders Railway will see 30 miles of track being laid south of Edinburgh linking outlying communities with the city. As part of its rail supply contract with Network Rail, TATA Steel will supply more than 7,000 tonnes of rails in 108 meter lengths into the project.

The new Borders Railway will see four new stations built in Midlothian and three in the Scottish Borders. Trains will run every half hour at peak times and journey times between Tweedbank and Edinburgh will take less than one hour.

Mr John Austin, TATA Steel’s Key Account Manager, said that “We are delighted our rail will be used on this historic new line which will help reduce the increasing problem of congestion on the main roads between the Borders and Edinburgh.”

TATA Steel will ship more than 700 tonnes of 108 meter long rails per week, manufactured and fully safety and quality checked, from its Scunthorpe site, on specially modified rail carrying wagons. The deliveries are planned to take place over the next 10 weeks. As well as being used by commuters the £294 million line, due for completion in the Summer of 2015, is expected to boost tourism in the Borders region of Scotland.

Mr Leigh Goble, Network Rail Business Support Manager National Supply Chain, said that “The contract Network Rail has with TATA Steel means we are able to specify exactly what type of rail we need, and when we need it, to complete this exciting project on time. The Borders Railway will serve thousands of commuters and visitors to the Borders area every year and TATA Steel is part of making that happen."

Source – Strategic Research Institute

voda 2 november 2014 15:29

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Steel mills in Hebei adapt to survive war on smog during APEC meet in Bejing

Reuters reported that Chinese steel mills are altering their production schedules to offset disruption from forced plant closures aimed at curbing choking air pollution during a summit of world leaders in Beijing reflecting how they are adapting to the periodic shutdowns enforced by Beijing.

Dozens of steel mills in industrial areas straddling the capital are set to shut from November 1 to cut smog before leaders, including US President Mr Barack Obama, attend the Asia Pacific Economic Cooperation meeting.

With air pollution readings hitting an eight month high in mid October, the government is aiming to clear the skies and avoid another embarrassment after the city's marathon this month, where many participants ran with gas masks. Forecasters have warned of the smog worsening this week.

Beijing is focusing its efforts on Hebei province, which, with an annual production capacity of 286 million tonnes, produces more steel a year than the whole of the European Union and was home to seven of China's 10 most polluted cities in the first nine months of 2014. But steel mills, already suffering from a capacity glut, slowing demand and weak prices, aim to minimise output disruptions.

The ability of steel mills to shift production to October and late November should moderate fluctuations in monthly output, though it estimated national industrial growth for November could be cut by 0.2 to 0.4 percentage point from the APEC meeting related shutdowns.

Mills have also ramped up the most polluting pre-treatment process in steelmaking, called sintering, ahead of the closures. Sintering facilities, which produce sinter for the blast furnace from iron ore fines, are the ones that have been mostly lined up to shut in November. Some mills in Tangshan who were going to shut their sinter plants in November had been trying to produce more sinter ore before the end of October so they would have enough material by next month.

China had imposed similar shutdowns on industry during the 2008 Beijing Olympics.

Source – Reuters

voda 3 november 2014 15:37

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Won't abort Odisha steel plant - POSCO India CMD

Despite inordinate delay in grounding its 12 million tonne steel plant in Odisha due to hurdles over land acquisition and getting captive mining lease, South Korean steel maker, POSCO is no mood to quit the project.

Mr Gee Woong Sung CMD of POSCO India after emerging out of a meeting with state chief secretary Mr GC Pati, said that "We would not quit. No, never. We have been waiting (for the project) for 10 years."

Mr Sung said that "The discussion was successful."

Mr Sung also met state industries secretary cum CMD of Odisha Industrial Infrastructure Development Corporation (Idco), Mr Vishal Dev.

A top state official said that "There is no issue with the mining lease and it should not be seen as a hurdle to the POSCO project. We had already recommended the Khandadhar mining lease in favour of POSCO India. The mine comprised of both notified and non-notified area. The Centre has asked us to submit two separate proposals, one for the notified area and other for the non-notified area. We are working on it and will send our compliance soon."

Though, the and acquisition for the first phase of the project, comprising 8 million tonne, has been completed, the project has been stuck over grant of mining rights to POSCO over Khandadhar iron ore deposits in Sundergarh district. After protracted legal battle, the Supreme Court had upheld the decision of the state government recommending grant of prospecting licence to POSCO and asked the Centre to dispose off the matter suitably. However, the Centre has held up the matter, seeking some clarifications from the state government over its PL recommendation in favour of POSCO. The state government is now ready to furnish its compliance report to the Centre.

Source – Business Standard

voda 3 november 2014 15:38

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Sesa Sterlite striving for 7-8 million tonnes iron ore production in Goa

Economic Times reported that striving for 8 million tonnes of iron ore production in Goa, Sesa Sterlite is likely to resume operations at some of the closed mines in the state during January-March after 2 year ban.

This huge relief to billionaire NRI Anil Agarwal led company comes on the back of the direction of the Goa Bench of Bombay High Court that the state government should renew 28 mining leases, which have already paid the stamp duty.

Mr Tom Albanese CEO of Sesa Sterlite said that "The government will be doing a case by case study on the mines in Goa. As a result, we hope to get it resolved in the near-term. We will be in a position to begin production in the first quarter of calendar year 2015. We estimate that if all goes well, we can resume capacity to about 50% to 55% of the rate we were producing before the closures two years ago."

Mr Albanese said said that "The resumption of production would be encouraging and I think we have recognized that for the state of Goa, there will be an upsurge in the number of jobs an the infrastructure and transportation networks to support those mines, that would be of great benefit to the economy of Goa."

Sesa Sterlite has 14 to 15 iron ore leases in Goa. Before the mining activity was stopped in the coastal state, it used to produce around 14 million tonnes of the key steel making raw material out of the total 40 million tonnes production from the state. Of the 28 mining leases likely to be renewed soon, Sesa Sterlite has 8 and 9 mines. The company has already paid the duty under Indian Stamp Duty (Goa amendment) Act, 2012 as part of the renewal process.

Source – Economic Times

voda 3 november 2014 15:46

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EUROFER overview steel using sectors

Development of the main steel using sectors – EUROFER forecast October 2014 % change YoY in the SWIP (Steel Weighted Industrial Production) index.
1. Slow Q2-2014 activity growth
2. Sentiment hurt by uncertainty
3. More balanced growth in 2015.

Activity data for the EU steel using sectors show that in Q2 2014 output growth slowed significantly compared with Q1. The SWIP index rose by 1.5% YoY following 6.7% in the first quarter. Activity in Q1 had been boosted by very mild weather conditions, much in contrast with the situation in Q1 2013; as a consequence, especially in the construction sector the YoY rise in production was pronounced.

In line with expectations, this positive base year effect vanished in Q2, revealing rather subdued momentum in most sectors with the exception of the automotive and the steel tube sector. This reflects that business conditions remained rather difficult in the Q2. Generally speaking, most companies have not seen much of an improvement in incoming new orders, output and capacity utilisation rates whereas confidence about expected activity levels was clouded by rising geopolitical unrest, uncertainty regarding the impact of Russian trade sanctions and weak prospects for some of the EU’s largest markets.

Activity growth is foreseen to have remained rather subdued in Q3; there are no indications of accelerating growth in the remainder of the year. Basically owing to strong Q1 growth, the SWIP index is foreseen to grow 2.3% in 2014. 2015 should see growth becoming more balanced over the year and more harmonised across the steel using sectors, supported by a rather positive outlook for investment and exports in combination with better access to finance. The SWIP index is foreseen to increase by slightly over 2.5%.

Source – Strategic Research Institute

voda 3 november 2014 15:47

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The lack of dynamism continues to characterize steel market in Latin America

The lack of dynamism continues to characterize the steel market in Latin America during the first 8 months of 2014; regional crude steel production increased 2% and finished steel output displayed a 1% drop vs same period of 2013. Meanwhile, consumption grew only 1%.

However, imports of finished steel continue to gain market share and now represent 32% of the Latin Ame rican consumption. The regional trade balance continues to deteriorate; between Jan/Aug 2014 the unbalance deepened 14% in terms of volume, YoY.

Finished steel consumption;
In Jan/Aug 2014, the consumption of finished steel in the region reached 46.2 million tonnes, only 1% more than in the same period of 2013. The largest increases in consumption (in volume and in percentage terms) occurred in Mexico (1.8 million additional tons, an increase of 14%), Colombia (459,000 tonnes, + 20%) and Argentina (171,000 tonnes, up 5%). On the other hand, Venezuela, Brazil, Ecuador and Chile described sharp declines.

It is worth mentioning the strong decrease in consumption recorded in Brazil, that contracted 5%, equivalent to a reduction of 844,000 tonnes YoY. This decrease became further marked during the last quarter (June/August), when the volume consumed was 12.8% lower than in the same months of 2013.

Trade balance;
In the first 8 months of 2014, 14.9 million tonnes of imported finished steel arrived at Latin America, 4.2% above the level recorded in 2013 (14.3 million). If current import volumes is compared to the ones observed at the beginning of the decade (Jan/ Aug 2010) when imports amounted to 12.2 million tonnes, the increase reaches 21%.

At present, imports of finished teel represent 32% of the regional consumption, resulting in the loss of market share for local producers and additional pressure on the market.

Exports reached 5 million tonnes, decreasing 10% vs.the first 8 months of 2013. Between Jan/Aug 2014 the region accumulated a trade deficit of -9.8 million. This imbalance is 14% deeper than the one observed for the same period of 2013 (-8.6 million tonnes).

In Jan/Aug 2014, all countries of Latin America and the Caribbean presented trade deficits in the finished steel market. The more pronounced could be observed in Mexico (3.2 million tonnes), followed by Colombia (1.6 million tonnes), Chile (-1 million tonnes) and Peru (-1 million tonnes).

Production;
In the first 8 months of 2014, Latin America and the Caribbean produced 43.7 million tonnes of crude steel, 2% above the level of 2013. Brazil accounted for 52% of the regional output (22.6 million tonnes), although it showed a slight decline of 1% YoY. The strongest crude steel production increases (YoY, in percentage terms) were registered in Argentina (+9%), Ecuador (+ 9%), Mexico (+ 7%) and Peru (+ 2%). Venezuela and Chile, on the other hand, displayed declines of -45% and -19%, respectively.

In the same period, Latin America produced 37.6 million tonnes of finished steel, 1% less than in the same months of 2013. Brazil was the largest producer (16.6 million tonnes), 45% of the Latin American output. Mexico ranked second (11.7 million tonnes and 31% of the regional production). Growing at rates of 14% and 10% respectively, Colombia and Mexico showed the greater increases in finished steel production YoY. Meanwhile, Venezuela's and Chile's outputs fell 43% and -22 %, respectively.

Source – Strategic Research Institute

voda 3 november 2014 15:53

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Angang develop third generation auto sheet and set first standard in the world

Angang, a steel giant in China in terms of 4.2% crude steel output in the country in the first eight months of the year, has further diversified auto sheet products by setting product standards for high strength quenching and partitioning steel and debottlenecking in production on traditional production lines, official website of State-owned Assets Supervision and Administration Commission reported on October 29, citing internal report from the steelmaker.

Q & P steel, a third-generation auto steel, is considered a very good combination of strength and plasticity in lightweighting of automobiles. The industrial production of 980MPa Q & P steel on traditional (non high strength) steel lines at Angang is a significant success when only very a few steelmakers in the world have realized industrial production of it on exclusive lines for high strength steel and others are still with theoretical research or laboratory studies.
To market the new product, Angang and auto manufacturers jointly finalized Q & P steel standards, which is the first worldwide.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 3 november 2014 15:54

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Argentina's crude steel output up in Sep

According to statistics released by Argentina’s steel association, the country’s crude steel output totaled 463,800 tonnes in September, climbing by 0.3% YoY but falling by 0.8% from a month ago.

In September, Argentina’s output of finished steel products totaled 405,000 tonnesup by 13.4% YoY and increasing by 3.3% from last month.

During the first nine months of this year, the country’s crude steel output hit 4.1 million tonnes up by 7.8% compared to the corresponding period a year ago.

Source - www.yieh.com

voda 3 november 2014 16:03

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China's HRC production hits 16 million tons in September

According to data released by the National Bureau of Statistics, China’s production of hot rolled coils totaled 16.04 million tonnes in September, up by 0.8% from a month ago and increasing by 2.4% YoY.

In September, the country’s daily HRC output averaged at 534,000 tonnes, rising by 4.2% from August.

In January to September period, China’s HRC output amounted to 137.56 million tonnes, remaining flat from the figures in the same period of a year ago.

Source - www.yieh.com

mvliex 1 4 november 2014 11:34

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Vooruitblik: 'Invloed nikkelprijs op Aperam'

Gepubliceerd op 4 nov 2014 om 11:31
AMSTERDAM (AFN) - Bij de bekendmaking van de kwartaalcijfers van roestvrijstaalbedrijf Aperam zal onder meer worden gekeken naar de invloed van de lage nikkelprijs op de resultaten. Dat zei analist Philip Ngotho van ABN Amro. Aperam komt donderdag nabeurs met cijfers over het derde kwartaal.

De prijs van nikkel, een belangrijke grondstof voor roestvrijstaal, is sinds een piek in mei sterk gedaald. Als de nikkelprijs daalt, stellen afnemers van roestvrijstaal aankopen uit omdat ze anticiperen op mogelijke verdere prijsdalingen.

Ngotho gaf verder aan ook te zullen kijken naar de ontwikkelingen bij Aperam in Brazilië. De analist wil weten in hoeverre de economische afzwakking van Brazilië van invloed is op Aperam.

Verbetering
Analist Frank Claassen van Rabobank gaf aan voor het derde kwartaal een duidelijke verbetering bij Aperam te verwachten ten opzichte van een jaar eerder. Ten opzichte van het tweede kwartaal zal het bedrijfsresultaat (ebitda) waarschijnlijk lager uitvallen, zoals Aperam al heeft aangegeven. Voor het vierde kwartaal zal Aperam naar verwachting een lagere ebitda voorspellen dan in het derde kwartaal.

Ook Claassen wil graag informatie horen over de invloed van de nikkelprijs. Voor de rest rekent hij niet op veel bijzonderheden bij de cijferpresentatie.

voda 4 november 2014 16:13

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ArcelorMittal advies omlaag bij Deutsche Bank - Market Talk

AMSTERDAM (Dow Jones)--Het advies voor ArcelorMittal (MT.AE) is door Deutsche Bank verlaagd naar hold van buy. De analisten verwachten dat de staalmarkten in ontwikkelde landen blijven herstellen, maar zien tegelijkertijd de risico's toenemen door de dalende ijzerertsprijzen en door een lagere vraag in Brazilie. Het staalbedrijf maakt vrijdag de derdekwartaalresultaten bekend en ze verwachten solide cijfers en sterke prestaties in Amerika. Het koersdoel gaat omlaag naar EUR11,50 van EUR16. Omstreeks 9.40 uur noteert het aandeel 1,8% lager op EUR10,19, terwijl de AEX met 0,2% stijgt. (LDF)

Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

voda 4 november 2014 16:24

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Vooruitblik: Stabiel resultaat ArcelorMittal

DINSDAG 4 NOVEMBER 2014, 12:43 uur | 4492 keer gelezen

AMSTERDAM (AFN) - Staalconcern ArcelorMittal heeft in het derde kwartaal waarschijnlijk een vergelijkbaar bedrijfsresultaat (ebitda) behaald als in het tweede kwartaal van dit jaar. Dat blijkt uit een consensus van analisten door Bloomberg. ArcelorMittal komt vrijdag voorbeurs met resultaten naar buiten.

De ebitda van het grootste staalbedrijf ter wereld wordt gemiddeld geraamd op 1,8 miljard dollar (1,4 miljard euro). In het tweede kwartaal van dit jaar zette ArcelorMittal eveneens een ebitda in de boeken van 1,8 miljard dollar. In het derde kwartaal van 2013 bedroeg de ebitda 1,7 miljard dollar.

De omzet komt in het derde kwartaal naar verwachting van de analisten uit op 19,8 miljard dollar, tegen 19,6 miljard dollar een jaar geleden. In het tweede kwartaal werd een omzet gedraaid van 20,7 miljard dollar

Bij de bekendmaking van de tweedekwartaalcijfers in augustus liet het bedrijf weten zijn verwachtingen voor heel 2014 te verlagen. Er wordt nu gerekend op een ebitda van meer dan 7 miljard dollar, terwijl eerder nog werd gerekend op circa 8 miljard dollar. De gemiddelde analistenverwachting voor heel 2014 ligt op 7,2 miljard dollar.

voda 4 november 2014 16:44

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India has potential to become 2nd largest steel consumer - Deutsche Bank

Deutsche Bank said that India's steel demand is expected to rise by 4% to 5% this year and will touch 15% CAGR after FY17 as the country has the potential to emerge as the second largest steel consuming market after China during FY15-20.

It said that "We expect steel demand to rise by 4% to 5% this year as against average of 2% over FY13-14, 8% in FY16 and a 15% CAGR after FY17 when policy initiatives of the new government begin to impact materials demand, meaningfully.”

The report said that "Based on our growth forecasts, India has the potential to emerge as the second largest steel consuming market, behind China during FY15-20."

It said that India will emerge as a large importer of steel particularly in FY19-20 with the imports of as much as 24 million tonne of steel - equivalent to 17% of its consumption. The domestic steel production is estimated to rise by 48% by 2020.

It added that "We also estimate India's iron ore requirements to rise by 53% and coking coal requirements by 39% by 2020."

India is likely to import 15.5 million tonne of iron ore its highest ever imports in FY15.

It further added that "We do not see a risk to India's iron ore self sufficiency on a longer term basis and country is likely to import 15.5 million tonne of iron ore its highest ever imports in FY15. However, this remains contingent on easing of regulatory restrictions. A timely resolution can support domestic supply ramp up to meet demand from new steel capacities between now and 2020.”

Source – PTI

voda 4 november 2014 16:46

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NMDC cuts price of iron ore lumps by 4.3%

After holding on for 4 months, buckling under cries from Indian steel mills, Indian state run iron ore mining giant NMDC has announced token reduction in prices of iron ore lumps for November sales while keeping prices of fines unchanged

The price of iron ore lumps Fe 65.5% from Kiraundal region has been reduced by INR 200 (4.3%) to INR 4400 per tonne for November sales EX mine. Considering 15% royalty, it works out to INR 5060 per tonne

However, the price of iron ore fines Fe 64%have been rolled over at INR 3160 per tonne and INR 3634 per tonne including 15% royalty

A company official told media “The decision to reduce prices of lumps is due to a combination of factors. There was a severe disruption in the supply of lumps and fines during October due to Hudhud cyclone off Vizag coast that caused damage to the Kothavalasa and Kirandul rail line. The demand for lumps also went down in the recent days from the sponge iron makers. So, the company decided to cut prices as a feel good factor.”

NMDC has been facing pressure from Indian steel makers on its prices for quite some time, as while the global prices have come down by about USD 15 per tonne (16%) from USD 93 to USD 78 per tonne CFGR China since July 1st 2014 for 62.5 Fe Australian iron ore fines, NMDC has maintained its prices

Many Indian steel mills, led by JSW, have stepped up iron ore imports this FY as the domestic availability is limited due to on going problems in Karnataka, Odisha and Goa. While the exact import levels are not known, we can take CFR China prices of USD 78 per tonne for Fe 62.5% fines from Australia to examine the iron ore imports into India. With 2.5% import duty, the landed price at current USD:INR exchange rate of 61.311 works out to just above INR 5000 per tonne as against INT 3600 for NMDC fines of 64% Fe without taking into account logistic costs for both the cases

voda 4 november 2014 16:48

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High cost iron ore producers surviving price slump - Vale

According to Brazilian mining giant Vale, high cost iron ore producers are not shutting down activities as quickly as expected.

Mr Jose Carlos Martins director of iron ore and strategy said that "The sharp drop in international iron ore prices has led to the closure of about 50 to 60 million tonne per year in high cost miners' production capacity. But these companies' exit from the market has been slower than expected."

According to data from China's customs authority, China's iron ore imports reached 699 million tonnes in the first nine months, 16.5% higher YoY. Brazilian iron ore exports to China in the first nine months of the year jumped 10% to 129 million tonnes, compared to same year-ago period.

Vale said that “This increase in imports benefitted traditional suppliers (Australia, Brazil and South Africa) at a time when their production expanded, but was not enough to consume inventories of higher cost producers, which nevertheless continued to operate with lower and sometimes even negative margins in the expectation of a gradual recovery in prices.”

Oversupply from the big three global producers (Vale, Rio Tinto and BHP Billiton), combined with a slowdown in economic growth in China, has sent seaborne iron ore prices tumbling this year. The price slump is forcing high-cost producers to close mines around the world.

Source – Business News Americas

voda 4 november 2014 16:48

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China's key steelmakers post profit of CNY 19.282 billion in Jan-Sept - CISA

China Iron and Steel Association said that its member steel mills achieved sales revenue of CNY 2,717.24 billion in the first three quarters of this year, down 0.22% from same period of 2013.

Pre tax profit rose 15.92% YoY to CNY 79.65 billion. They posted a combined profit of CNY 19.282 billion, an increment of 71.26% from the year ago level.

The number of loss incurring mills accounted for 25% down 6.82 percentage points from a year ago. The combined losses reached 8.086 billion yuan, down 29.58% YoY. The rate of return on sale was 0.71%, a gain of 0.3 percentage points from the previous year.

Mr Zhang Changfu, vice chairman of CISA said that "The imbalance between supply and demand remains severe in China’s steel sector amid weak consumption growth and relatively high crude steel production. Furthermore, steel prices hit record lows. The big falls in raw materials prices have boosted steel mills’ profit, but their profitability remains quite low."

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 4 november 2014 16:49

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Hebei Province cut more than 20 million tonne of steel capacity in Jan-Oct

An official with the Hebei Development and Reform Commission said that North China's Hebei province, the largest steel producing region in the country, slashed steel capacity by more than 20 million tonnes in the first 10 months of this year.

Hebei cut iron making capacity by 12.02 million tonnes, steelmaking capacity by 9.77 million tonnes, cement capacity by 28.63 million tonnes and sheet glass capacity by 22.86 million weight cases in the January to October period.

According to the Hebei Federation of Industrial Economics, the province produced 91.2064 million tonnes of pig iron and 98.4009 million tonnes of crude steel in the H1 of the year, down 4.81% and 2.88% from the same period of 2013.

The daily production of pig iron and crude steel declined month by month. Steel production amounted to 119 million tonnes, an increment of 3.62% YoY, lower than the national average level. However, the steeper falls in iron ore prices than steel prices expanded profit space for steel mills.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 4 november 2014 16:50

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African Minerals eyes lucrative Europe with iron ore deal

Reuters reported that African Minerals Limited is exploring the possibility of blending its iron ore with products from another mine in Sierra Leone to produce higher grade ore for sale to steelmakers in Europe.

By sharing infrastructure with Timis Corporation, a company owned by its executive chairman, African Minerals would also cut its freight cost. Shares of African Minerals rose as much as 20% in early trading to rank among the top gainers on the London Stock Exchange.

Miners in West Africa, once seen as a new frontier for iron ore mining, have been hit by a 40% drop in the price of the steelmaking ingredient this year, exacerbated by disruptions caused by the Ebola outbreak in the region.

London Mining Plc became a victim of the downturn last month, when it ran out of funds. Timis Corporation, established by Mr Frank Timis Executive Chairman of African Minerals bought its key asset, the Marampa mine, from administrators.

With that deal now completed, African Minerals said that it had agreed with Timis Corporation to explore the possibility of blending products from its Tonkolili mine with ore from Marampa. If successful, it would be able to sell to European steelmakers at a significant premium to the price at which it sells to China.

The company said that the current price quoted by commodities pricing agency Platts for iron ore with 58% iron content was USD 67.50 per tonne. The Platts 62% Fe price was USD 80.00 per tonne.

African Minerals mines ore with about 58% iron content at Tonkolili. Marampa's iron content is higher, at about 65%. It has also agreed access for Timis Corp to rail and port infrastructure. Marampa lies about 120 kilometer west (75 miles) of the Tonkolili mine. African Minerals' rail line runs close by.

African Minerals has had its own financial troubles. In September, the company unveiled plans to boost revenues by reducing discounts and requiring a premium on some of its iron ore.

The company, which has offtake agreements with Shandong Iron and Steel Group and China Railways Materials Commercial Corporation, exported 8.9 million tonnes of direct shipping ore in the first half of the year at an average freight rate of USD 23 per tonne.

Source – Reuters

voda 4 november 2014 16:55

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China steel price recorded new low level frequently - CISA

According to CISA, China has produced 618 million tonnes of crude steel, 542 million tonnes of pig iron, 839 million tonne of steel products in the first three quarters this year, representing a YoY increase of 2.34%, 0.38% and 5.02%.

On Oct. 17, Chinese Comprehensive Steel Price (CSPI) dropped to 86.15 point, reaching the lowest level since January 2003. Now, steelmakers were lingering at the edge of making profits or losses under the circumstance of dispirited price, tepid market demand and oversupply. The scale of losses of major steelmakers in the first three quarters accumulated 25% decreasing by 6.28% YoY.

As for imports and exports, the average price of steel imports came to USD 1246 per tonne; while the average price of steel exports was USD 783 per tonne. The price spread between imports and exports still enlarged.

Mr Zhang Changfu, Vice Chairman of CISA said that “The increase of steel exports lies in the substantial decline of steel price and the great price spread between China and abroad. There is no doubt that steel exports will break through 80 million tonnes this year. However, low-price export will cause trade frictions. It is not a long term policy to digest domestic excess capacity by large quantity of steel exports."

Source - www.steelhome.cn/en
China steel information centre and industry database

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05 feb	Beursblik: beter vierde kwartaal bij ...

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