Eurobench.com

voda 28 januari 2015 16:55

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The collapse of NT iron ore projects will leave a hole in Darwin Port's budget - Mr Terry

Mr Terry O'Connor, the CEO of the Darwin Port Corporation said that the last loads of iron ore from Frances Creek were delivered to the port in late December. There were about 250,000 tonnes stockpiled at the port, to be exported over the coming months.

From a workforce of over 300, it is understood there are now just 20 workers left at the Frances Creek project and that number will be reduced again in the coming weeks.

The plunging iron ore price, which sparked problems for all three Top End iron mines, has recently dipped below USD 70 per tonne.

Mr Ray Wooldridge has lived in the mining town of Pine Creek since 1991 and has seen plenty of ups and downs.

He said that the mothballing of Territory Iron's Frances Creek project has hit the town hard. If you take a workforce of 300 people out of a town of about 600, it has a dramatic effect.

He added that "Most of the people [who worked at the mine] have gone, there's been fire sales and those who had housing or were renting have sold up and moved on. There's quite a few empty houses in town now."

Source - ABC

voda 28 januari 2015 16:56

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Vale slumps to five week low as S&P cuts rating on ore price

Vale SA tumbled to a five week low after Standard & Poor’s cut its rating for the first time since 2006 amid a slump in prices for the raw material.

Shares of the Rio de Janeiro based company dropped 4.6% to BRR 17.48 at the close of trading in Sao Paulo, contributing most to the Ibovespa’s 0.4% loss. The stock was the worst performer among the world’s biggest mining companies. The company’s benchmark bonds due in 2022 slipped 0.37 cent to 96.32 cents on the dollar.

S&P cut Vale’s rating one step on January 23 to BBB+, the third lowest investment grade, citing weakness in the iron ore market. Prices for the mineral, which is used in steelmaking, declined 47% last year as producers including Vale increased output even as demand in China weakened. The commodity fell 4.3% to USD 63.54 a dry metric tonne, pushing this year’s drop to 11%.

Mr Leonardo Correa and Caio Ribeiro, analysts at Grupo BTG Pactual saud that “The downgrade reflects current balance sheet pressures from the weaker iron ore pricing outlook. It’s important to remember that Vale is still an investment grade company, and will probably maintain this status over the next couple of years.”

Source - Bloomberg

voda 28 januari 2015 18:47

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Belang JPMorgan in Aperam omlaag

WOENSDAG 28 JANUARI 2015, 18:39 uur | 2 keer gelezen

LUXEMBURG (AFN) - Het belang van JPMorgan Chase Asset Management in Aperam is gezakt tot onder de 5 procent. Dat maakte het roestvrijstaalbedrijf woensdag bekend.

Bij een melding eerder deze maand bezat JPMorgan nog een belang van 5,08 procent in Aperam. De Luxemburgse beursregels schrijven voor dat als een belang onder de 5 procent zakt, dit gemeld moet worden.

voda 29 januari 2015 15:52

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Sterke winstdaling bij Posco

DONDERDAG 29 JANUARI 2015, 09:44 uur | 315 keer gelezen

SEOUL (AFN/BLOOMBERG) - De Zuid-Koreaanse staalproducent Posco heeft in 2014 een fors lagere winst behaald. Dat blijkt uit cijfers die het grootste staalconcern van Zuid-Korea donderdag naar buiten bracht.

De nettowinst (exclusief minderheidsbelangen) bedroeg 626,1 miljard won (507 miljoen euro), tegen 1,38 biljoen won een jaar eerder. Door de concurrentie van staalbedrijven uit China staan de prijzen flink onder druk en daar heeft Posco last van.

voda 29 januari 2015 16:25

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Price war intensifying at steel export front as prices go in free fall

With ominous signals emanating from Russia clouding the prospects of Ruble and uncertainty before 10-15 days closer of China, world’s biggest producer, consumer & exporter of steel, in February due to New Year Holiday, Indian buyers are in a continuous state of talking without transacting much business as the import offers are in free fall

It is reported that Chinese billet offers in form of Alloyed Square Bars for March shipment have dipped to USD 380 per tonne CFR West Coast India with scope for further discount on firm bids

The desperation of steel mills in CIS and China can be gauged by some of recent deals inked in SEA markets. It is reported that few rebar cargos have been signed at USD 370 CFR level from Ukraine and at USD 380 CFR for chromium added Chinese rebar at USD 380 CFR

An Indian buyer has received an offer for boron added 6.5mm wire rod at about USD 410 per tonne CFR Mumbai recently, down by about USD 30 per tonne from offers prevailing at December end. As the 13% VAT rebate on Boron added wire rod has been removed from January 1st 2015, Chinese mills have probably taken a hit of about USD 80 per tonne in last 30 days in the instant case.

This move reflects that steel export is a matter of survival of Chinese steel mills and some are in desperate mode to book orders before holidays signalling that the malaise could spread to other products as well in early February pre holiday period

While the precariously parched Russian HR steel mills are on the side lines as of now, lot of news is coming about HR offers from other sources. It is reported that a Indian pipe mill has inked a 20-25K parcel of S275 JR HRC, probably Boron added, from a Chinese mill at USD 423 CFR levels for a world bank added pipe project in north India. It is also reported that a South Korean mill, which has a duty advantage of almost 6.5% is looking to book some business for CR grade HRC at USD 450-455 CFR India levels ie equivalent to about USD 425 CFR considering duty advantage.

As the HR prices are in free all, buyers are throwing vague numbers and it is even heard that a Ukrainian mill has already gone below USD 400 CFR in SEA. But it appears more like a misinformation

However, the direction and new levels would come out when Russian mills come back to Indian market in early or mid February at competitive levels to outpace Chinese and Koreans etc, after booking orders in their traditional markets at about USD 430-435 CFR levels

Source - Strategic Research Institute

voda 29 januari 2015 16:27

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Indian domestic iron ore price scenario in February

With continued slowdown in finished demand in Indian steel sector amid higher availability due to government granting permission to 2 major mines in Odisha, the domestic prices of iron ore have taken a severe beating during January

Major merchant iron ore miners have slashed their prices by INR 800-1000 per tonne in last 30 days. The latest to announce the reduction is Rungta Mines, which reduced fines price by INR 800 per tonne and lumps by INR 650 per tonne. Earlier, Odisha based Serajuddin Mines and Indrani Patnaik had cut their prices by about INR 600 per tonne.

As per media reports, pressure is mounting on Indian iron ore giant NMDC to reduce prices for February sales with several steel makers making representations to bring NMDC prices in line with falling international levels as well as at par with merchant miners in Odisha

NMDC reviews its price every month and the price fixation committee of its board of directors is scheduled to meet in month beginning to decide the price levels

NMDC had extended its December prices for January - iron ore fines at INR 3,060 a tonne and lumps at INR 4,200 a tonne

However, considering the import parity, even at USD 65 CFR China levels, USD INR exchange rate and 2.5% import duty, may lead NMDC to announce a token cut only.

Source - Strategic Research Institute

voda 29 januari 2015 16:28

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Essar Steel commissions iron ore pellet complex in Odisha

odishatoday.com reported that Essar Steel has commissioned its INR 6,000 crore integrated pellet complex in Odisha

With commissioning of this 6 million tonne per annum iron ore pellet plant in the first stage, Essar Steel's total pellet capacity has gone up to 14 million tonnes, making it the largest Indian producer of iron ore pellets

The unit is backed by a 253 km long slurry pipeline from the hinterlands of Dabuna for carrying low grade ore to Paradip.

Another 6 million tonne facility will be completed within a year at the Paradip unit to raise the capacity in Odisha to 12 million tonnend Essar's total capacity to 20 million tonnes

Vice Chairman Mr Firdose Vandrevala said at a press conference “This marks completion of the integration process of Essar Steel as it will feed the company's 10 million tonne capacity steel plants in Hazira.”

Source – odishatoday.com

voda 29 januari 2015 16:33

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Lower iron ore price hurts Fortescue

AAP reported that shares in iron ore producer Fortescue Metals Group have fallen sharply after the price for iron ore dropped to a new five and a half year low.

Fortescue shares were 13 cents, or 6.1% lower at USD 2.00 around their lowest level since early 2009.

Mr Evan Lucas IG market strategist said that “The iron ore price is at another five and a half year low. There is no let-up for the price pressures on iron ore, and there’s no let up, therefore, for the pressure on prices that Fortescue gets. The price for iron ore delivered to Qingdao in China tumbled 4.3% to USD 63.54 per tonne overnight.

Mr Lucas said that there were big concerns ahead of Fortescue’s next company earnings report that the company would achieve a really horrible average price for its ore. There were also concerns about Fortescue’s high level of debt.

Source - AAP

voda 29 januari 2015 16:42

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Hamilton would take USD 50 million annual hit if US Steel Canada fails - Report

The Hamilton Spectator reported that Hamilton's economy stands to lose more than USD 50 million a year from the collapse of US Steel Canada and the underfunding on its pension plans.

In a report prepared for the city's steel committee economic development department, staff said that the city's coffers stand to lose more than USD 22 million a year in water and sewer revenues and taxes if the company closes its local plant.

Pensioners would take the hardest hit, however, losing an estimated USD 28.2 million a year because the company's four main pension funds don't have enough money in them to meet obligations.

Some of that loss will be eased by a provincial insurance fund which, based on its 2012 funding, could make up USD 19.6 million of the shortfall.

Source – The Spec

voda 29 januari 2015 16:42

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Brazil and Mexico expand steel exports to US

According to figures from the US Census Bureau, steel exports from Latin America to the US increased 4.82% YoY to 651,873 tonnes in December.

By value, exports from the region rose 18.5% to USD 518 million. By volume, Brazil was the region's biggest exporter of steel to the US, at 390,479 tonnes up from 346,889 tonnes followed by Mexico's 245,339 tonnes up from 239,262 tonnes.

Mexico was the region's biggest exporter by value at USD 251 million up from USD 207 million followed by Brazil's USD 242 million up from USD 189 million. Argentina exported 12,398 tonnes steel worth USD 21.5 million down from 18,270 tonnes and USD 28.9 million.

The higher Latin American exports reflect global trends, with world steel exports to the US in the month at 3.28 MT worth USD 3.237 billion up from 2.27 MT and USD 2.186 billion.

By volume, Brazil was the second biggest steel exporter to the US behind Canada, with Mexico fifth behind South Korea and Russia. By value, Mexico was third biggest behind Canada and South Korea, with Brazil fourth.

Source- Business News Americas

voda 29 januari 2015 16:44

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Chengde Steel Developed HiC750L Crossbeam Steel

On January 16, Hebei based Chengde Steel successfully developed C750L crossbeam steel for auto. After examination, each indicator of the products met relevant standards, with its yield strength more than 700 MPa and tensile strength greater than 750 Mpa, indicating that the production of crossbeam steel in Chengde Steel reached the advanced level in China.

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

voda 29 januari 2015 16:47

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Bahrain Steel sees big output boost this year

Trade Arabia reported that Bahrain Steel, a wholly owned unit of Foulath Holding, expects to ramp up production by more than 80 per cent in 2015 and reach its full annual capacity of 11 million tonnes in 2016.

The pelletising plant's output was up 40% in 2014 compared to the previous year, but the overall plant utilisation remained low as raw material supplies from its two main Brazil sources continued to be hampered because of force majeure events.

The company (formerly known as GIIC) feels value addition could be one of the prospects worth exploring in the future.

Production at the Bahrain plant closed at approximately 4.8 million tonnes for 2014 against 3.4 million tonnes in the previous year. Continued raw material shortage resulting from debilitating situations at two of its main raw material suppliers in the South American state hampered production. Supplies of high grade iron ore required by steel mills in the region are scarce internationally.

For Bahrain Steel, the main constraint is raw materials, and while demand exceeds supply, the company’s focus is on securing iron ore of a high standard to meet the requirements of its discerning customers.

Quality pellets have two basic parameters, one being that they have a high iron content and secondly that the physical properties in terms of cold compression strength, size consistency and fines match stringent standards. Bahrain Steel highlights it has the best product emerging from its lines to support its customers.

The continuing raw material shortage in 2014 meant that the Bahrain firm could not meet the demands of a couple of its prominent customers. But the New Year comes with a silver lining.

Bahrain Steel’s current raw material suppliers are boosting production in Q1 and Minas Rio, the mine whose opening was long delayed, commenced production and made its first shipment in October 2014. Bahrain Steel expects to load shipments from Minas-Rio starting this month.

The new year will, all in all, be a pretty good year with a strong likelihood that output could touch 9 million tonnes. The incremental production will mainly be supplied to Bahrain Steel’s traditional customers in the region, where the pellet demand remains strong and the superior quality of its products is widely recognised.

The expected good year in 2015 will overflow into 2016 with the prospect that in the latter year Bahrain Steel will produce at full capacity, 11 million tonnes.

Bahrain Steel has two pelletising plants, one of five million tonnes annually and operating since 1984 and the other of six million tonnes (potentially seven million tonnes) and running since 2010.

Source – Trade Arabia News Service

voda 29 januari 2015 16:48

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3 Unions in talks with US Steel over 1,600 layoffs in Fairfield

Al.com reported that the three local unions who represent workers at the US Steel plant in Fairfield are in talks with company officials over the notices sent to 1,600 workers warning of potential layoffs.

Three United Steelworkers unions represent workers at the US Steel plant: Local 1013, which represents metal producing workers; Local 2122, which represents rolling and finishing workers; and Local 2210, which represents office, clerical and technical workers.

Mr David Clark president of Local 1013 said that workers from all three unions have been notified of potential layoffs and representatives from all three have been meeting with company officials and several meetings are scheduled.

Mr Clark said that "We're still discussing the situation with the company, and the numbers are subject to change based on market conditions. Right now, we're still in a fact finding mode. We're gathering information that the company's provided and we're going through it, line item by line item."

US Steel's Fairfield operations could lay off 1,600 people around or on March 29. Up to 386 employees could be affected at Fairfield Tubular Operations, and up to 1,218 could be affected at Fairfield Works, the primary flat-roll supplier of rounds to Fairfield Tubular Operations. The company notified employees about the change Monday. Company spokesperson Ms Sarah Cassella tells ABC 33/40 affected employees will receive final notice on or around March 29. Ms Cassella said that 386 employees at Fairfield Tubular Operations could be impacted as well as 1,214 at Fairfield Works. In all, that would mean more than 73% of employees at both facilities could be laid off. She said that the layoffs are set to be temporary and jobs could return if market conditions improve, including fluctuating oil prices.

Source - www.al.com and www.abc3340.com

voda 29 januari 2015 16:51

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TATA Steel opens Europe's most powerful decoiler in Llanwern

Tata Steel UK has recently commissioned a new GBP 11 million heavy gauge decoiler in Llanwern, South Wales, capable of supplying manufacturers with stronger steel to improve their own products.

The state of the art facility is the most powerful in Europe and can process 270,000 tonnes of hot rolled coil a year.

The decoiler unwinds, flattens, then cuts the steel to size. Its strength enables it to produce ultra-flat sheet in thicknesses of up to 25mm, providing ample capability to meet the current as well as future requirements of customers in the construction and earth moving equipment and materials handling sectors.

Manufacturers are looking for increasingly high strength steels for use in demanding applications such as cranes. The new decoiler can process steel up to 1,600 newtons per square mm in strength. Manufacturers will be able to design new, stronger components at a lower cost because of the quality, strength and thickness of the steel which the decoiler can process.

The new decoiling line in Llanwern will be able to process Tata Steel products such as Ympress®, a high strength low-alloy steel which delivers weight savings and increased component strength, and DD13WR, a wheel-rim product with improved manufacturability.

Tata Steel’s Chief Commercial Officer in Europe, Mr Henrik Adam, said: “This investment helps us meet the demand of our customers in sectors like lifting and excavating who want hot rolled material with greater strength, as well as improved flatness and surface quality. We want to support them in their future development plans, so we have specified this decoiler to be capable of delivering not only the products our customers want today, but what they will need in the future. As well as demonstrating our commitment to strengthening the sustainability of our business in Wales, this new decoiler complements our heavy gauge decoiling facility at Maastricht in the Netherlands which was inaugurated last week. This was also recently expanded, giving us an exceptionally strong capability to meet the needs of hot rolled sheet buyers across Europe.”

The new equipment uses a range of technologies to maximise product quality. Three stages of levelling are used to ensure the final cut-to-length steel sheet is as flat as possible and any residual stress is removed. Levelling is followed by surface brushing, which ensures the steel is as clean as possible. These processes, combined with a supply of coil that has been transported and stored undercover, provide a superior and more consistent surface appearance, resulting in a reduction of post-fabrication surface preparation before final painting to simplify processing and save costs.

The line was designed by leading processing machinery firm FIMI. FIMI’s commissioning & service manager, Antonio Scuderi, said: “This is the first line we have installed in the UK which can deal with thicknesses of up to 25mm and it is the biggest and most powerful line we have ever installed. The power of the machine and the exceptional stiffness of the levellers ensure an industry-leading quality level.”

Source – Strategic Research Institute

voda 29 januari 2015 16:53

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Chinese iron ore futures at DCE edge up on Wednesday

Reuters reported that Chinese iron ore futures inched up on Wednesday after a five day losing run, but the gains are likely to be limited due to weak spot prices and cutbacks in output at steel mills.

Iron ore futures for May delivery on the Dalian Commodity Exchange edged up 0.2 percent to CNY 471 a tonne by the midday break.

An iron ore trader in Beijing said "Sentiment is too weak right now, with mills cutting output. We don't really expect any good news coming for iron ore before the Lunar New Year holiday. The downside room for iron ore could be limited, but the long-term view is still bearish due to rising low-cost supplies."

Source – Strategic Research Institute

voda 29 januari 2015 16:55

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Latin American production of finished steel in 11 months falls

Latin American steel body Alacero announced that the figures for the first eleven months of 2014 are continuing to demonstrate a Latin American steel market with weak growth, reflecting the global and regional economic slowdown, but with rising imports. During January-November 2014, the regional crude steel production increased by only 1% while production of finished decreased -1% compared with the same months of 2013. On the other hand, consumption grew 2%, being increasingly supplied by imports.

Finished steel consumption
Over the period analyzed, the consumption of finished steel in the region reached 64.4 million tons, up by 2% from the same period in 2013. The largest increases in consumption, both in terms of volume and percentage, were registered in Mexico (+2.9 additional million tons and an increase of 16%), Colombia (+707,000, +22%), Peru (+648,000 tons, +26%) and Dominican Republic (+115,000 tons, +33%). Furthermore, the consumption in Venezuela decreased sharply by -39%; and Ecuador and Chile presented market downturns in -14% and -5% respectively.

In Brazil, consumption of finished steel contracted -7% in the first eleven months of 2014, equivalent to 1.6 million tons less than in the same period of 2013. The decline was accentuated in recent months.

Trade balance
In January/November 2014, Latin America imported 21.3 million tons of finished steel, 10% over the level recorded in the same months of 2013 (19.4million).

Currently, the imports of finished products represent 33% of regional consumption, discouraging local industry, causing trade frictions and threatening the sources of employment. At the beginning of the decade (Jan/Nov 2010), the share of imports was 26%.

Latin American exports of finished steel products reached 7.6 million tons, decreasing by 2% compared to the first 11 months of 2013. Between Jan/Nov 2014, the region accumulated a trade deficit of -13.7 million tons. This imbalance is 17% higher than the observed in the same period of 2013 (-11.7 million tons).

Production
In the first 11 months of 2014, Latin America and the Caribbean produced 60.6 million tons of crude steel, similar to the volume of Jan/Nov 2013. Brazil represented 52% of the regional total (31.3 million tons), although showed a slight year-on-year downturn by 1%.

The countries that had the most significant increases - in terms of percentages- in their crude steel production between January and November 2014 were Ecuador (+17%), Mexico (+6%), Argentina (+6%) and Peru (+6%). Venezuela and Chile, however, recorded drops of (35%) and (16%), respectively.

In the same period, Latin America produced 51.7 million tons of finished steel, 1% less than Jan/Nov 2013. Brazil was the largest producer (23 million tons), 45% of the Latin American total. Mexico was second (16.1 million tons), 31% of regional GDP.

With growth rates (11%), (10%) and (9%) respectively, Colombia, Mexico and Peru were the countries that showed greater increase in the production of finished products compared with the first 11 months of 2013.

Meanwhile, the productions of Venezuela and Chile fell by (34%) and (18%), respectively. Advance information of December 2014 indicates that crude steel production reached 5.5 million tons in the month, 6% more than in December 2013. The production of finished products closed at 4.6 million tons, 5% more than a year ago. During 2014, the production of crude steel accumulated 66.1 million tons, 1% more than in 2013, while the production of finished products reached 56.3 million tons, similar to the recorded in 2013.

Source – Strategic Research Institute

voda 29 januari 2015 16:56

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Australian iron ore sector set for AUD 6 billion in write downs

The Australian reported that Australia's iron ore sector is likely to come under continued pressure, with more than AUD 6 billion of potential write downs on the cards

Goldman Sachs, one of the few banks still trading commodities, tipping prices have further to fall and will stay low until at least the end of the decade.

Brokerage Goldman Sachs has become among the most pessimistic of iron ore forecasters, tipping long-term prices of USD 60 per tonne (down from USD 80 previously) as BHP Billiton and Rio Tinto continue to flood the market with low-cost ore, China’s demand growth appears stunted and Chinese iron ore producers are expected to maintain production.

Mr Christian Lelong analyst of Goldman said that “It would take a long time for the market to work through coming expansions from BHP and Rio, which will remain highly profitable. Balancing the market in the face of slowing demand and strong supply growth will result in a long war of attrition at the top end of the cost curve that we expect should continue beyond 2016. The number of seaborne producers is bound to shrink over that period.”

Goldman Sachs said that its price forecast cuts are so severe because prices will need to stay below a marginal mining cost that is falling because of oil price falls and currency moves.

Mr Lelong said that “In order to incentivise the closure of excess capacity, iron ore prices must remain below marginal costs even as cost deflation becomes entrenched and marginal costs decline further.”

Source - The Australian

voda 29 januari 2015 16:58

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US steel imports in 2014 up by 38pct YoY

Based on preliminary Census Bureau data, the American Iron and Steel Institute announced that the US imported a total of 3,620,000 net tonnes of steel in December, including 2,941,000 net tonnes of finished steel (down 2.0% and up 0.1%, respectively, vs. November final data).

Full year 2014 total and finished steel imports are 44,320,000 and 33,733,000 net tons respectively, up 38% and 36% respectively, vs. 2013. Finished steel import market share was an estimated 30% in December and is estimated at 28% for 2014.

Key finished steel products with a significant import increase in December compared to November are wire rods (up 36%), line pipe (up 18%), standard pipe (up 13%), hot rolled bars (up 11%) and plates in coils (up 10%). Major products with significant import increases in 2014 vs. the prior year include plates in coils (up 90%), cold rolled sheets (up 88%), wire rods (up 85%), cut lengths plates (up 83%), heavy structural shapes (up 60%), sheets and strip hot dipped galvanized (up 60%), hot rolled sheets (up 46%), sheets and strip all other metallic coatings (up 42%), tin plate (up 30%), mechanical tubing (up 28%), oil country goods (up 22%) and reinforcing bars (up 19%).

In December, the largest volumes of finished steel imports from offshore were from South Korea (418,000 NT, down 11% vs. November final), China (217,000 NT, down 16%), Japan (185,000 NT, up 20%), Russia (181,000 NT, up 415%) and Germany (164,000 NT, up 38%).

In 2014, the largest offshore suppliers were South Korea (5,448,000 NT, up 47%), China (3,187,000 NT, up 68%), Turkey (2,196,000 NT, up 82%), Japan (2,106,000 NT, up 11%) and Russia (1,418,000 NT, up 489%).

Source - Strategic Research Institute

voda 29 januari 2015 17:00

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Frequent trade frictions cast shadow on China's exports of steel

China’s exports of steel products will become more difficult on increasing trade conflicts after exports of steel products soar 50.5% YoY to 93.78 million tonnes in 2014, hitting a record high.

However, the Chinese government’s cancellation of export rebates for boron added steel products, effective from January 1st 2015, will likely result in a 30% fall in the country’s exports of steel products in the first quarter. Moreover, global trade frictions frequently seen since the start of the year also have clouded the prospects for China’s exports of steel products.

According to information on the official website of the Chinese Ministry of Commerce (MOC), within one month since early this year, several countries, including US, Canada and Australia, have initiated anti dumping and countervailing duty investigations on imalleable cast iron pipe and rebar originated from China.

Appendix: Cases of trade frictions against China’s exports of steel products in January 2015
1. On January 8, 2015, the US Department of Commerce (DOC) announced its preliminary determination of antidumping administrate review on the immalleable cast iron pipe originated from China under HS code of 73071100.30 and 73071100.60 that the dumping rate of the product in China hit 75.50%. US DOC initiated the review investigation on the aforementioned products on May 29th 2014. The investigation period is from April 1st 2013 to March 31st 2014.

2. On January 14, the US International Trade Commission (ITC) announced to maintain its decision to levy anti-dumping duty on ferrovanadium alloy imported from China and South Korea.

3. On January 15, the Canadian International Trade Tribunal (CITT) made its final injury determination to impose anti-dumping and anti subsidy duties on rebar originated from China, South Korea and Turkey. Chinese exporters received a 41% dumping margin and subsidy rates of 89.71 Canadian dollars per tonne. East China based Shandong Shiheng Special Steel Group received a final dumping margin of 17.1% and a subsidy margin of CAD 2.49 per tonne.

4. On January 16, the Australian Anti-dumping Committee posted a public notice to postpone the announcement of results for antidumping mid-term review on welded and seamless pipe originated from China and South Korea till March 4 this year. The committee launched antidumping mid term review on China-sourced welded and seamless pipe as early as September 30th 2014.

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

voda 30 januari 2015 16:51

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Indian mills seek lower domestic iron ore prices amid surging steel imports

Business Standard reported that India’s primary steel producers are mulling options along with cutting capacity utilisation if iron ore prices remain at the current high levels

Companies also fear a price war, expecting huge import from Russia.

Steel companies have been asking central government-run NMDC to lower its iron ore prices, in line with the sliding global levels. They say it is becoming increasingly difficult for them to keep product prices at current levels, amid sluggish demand and rising import from China and Russia.

Mr RK Goyal MD of Kalyani Steels said “We are under tremendous pressure to lower steel product prices, as the difference between imported and domestic products is about 20 per cent. If NMDC does not lower prices, we might have to look at lowering capacity utilisation as an option.”

A spokesperson from Essar Steel said “If the cheaper imports from China and Russia continue unabated, it will cause irreparable to damage to the Indian industry, unless the government comes out with policy initiatives to arrest this and to lower ore prices in the domestic market.”

Source – Business Standard

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