Eurobench.com

voda 23 januari 2017 17:13

0

Shandong province reveals 2016 capacity elimination subsidy value

China's third largest steel producing province Shandong spent CNY 3.2 billion ($466 million) on subsidies for steel and coal capacity elimination campaigns last year, according to the provincial Finance Department.

Shandong cut 5.4 million tonnes/year of combined steel capacity and 19.6m t/y of coal capacity in 2016. The influence on provincial steel output however was quite limited, Kallanish notes.

Data from the National Bureau of Statistics show Shandong produced 65.02 million tonnes of crude steel over January to November 2016, an increase of 6.53% year-on-year.

Last year the Tangshan government also paid CNY 389 million in resettlement funds to Hebei Iron & Steel's Tanggang and Kailuan Group. A total of 11,531 dismissed workers from industries with over-capacity have received subsidies or training provided by local government according to Hebei News.

Source: Kallanish.com

voda 23 januari 2017 17:14

0

Chinese real estate sees mixed end to 2016

China’s real estate sector performed far better overall in 2016 than had been expected a year ago. The latest data for December continues to show a slowdown that will hamper steel demand in 2016 however, Kallanish notes.

In 2016, 1.57 billion square metres of real estate was sold, an increase of 22.5% year-on-year. That growth has been slower and slower every month however and the January-December growth was 1.8 percentage points down from January-November.

The slowdown can also be seen in completion rates. 1.06 trillion square metres of real estate was completed in 2016, up 6.1% y-o-y. This growth has already fallen from 21.3% y-o-y over January-July however. The full year completions were still -1.2% lower than in 2014.

This slowdown is expected to continue into 2017, as a tighter credit situation and restrictions on sales in tier one and two markets begin to cool down the market. Commercial investment in real estate is expected to continue to account for an ever smaller proportion of Chinese steel demand.

That decline shouldn’t be too fast however, as some key indicators are stabilising. Land acquisition by developers had been falling rapidly at the start of the year, but is now down just -3.4% y-o-y at 22.53 million square metres. China is also making steady progress in balancing housing inventory. Although total real estate inventory actually increased 4.44m sq m to 695.39m sq m by the end of December, residential inventories declined by around 2m sq m..

Source: Kallanish.com

voda 23 januari 2017 17:16

0

Shagang enhanced productivity in 2016 says chairman

Shagang produced over 20 million tonnes steel last year with productivity almost twice the Chinese average, according to group chairman Shen Wenrong. Shagang's shares remain under a trading halt as it is processing a big data company acquisition, Kallanish notes.

Shagang Group achieved CNY 198.3 billion ($28.86 billion) in sales income and CNY 5.05 billion in profits in 2016. Shagang produced 1,400t of crude steel per employee in 2016, “... however our efficiency is still behind POSCO’s 1,700 tonnes/person,” said Shen.

Shagang's listed unit adjusted its 2016 annual performance forecast on 14 January, estimating CNY 180-260 million in profit attributable to shareholders, an improvement from 2015's losses. This was mainly due to higher steel prices and fast reactions to the market, the company said.

Shagang ranks No.2 in terms of business revenue and profit among Chinese steelmakers, and since 2015 has begun to expand into the internet, new materials and energy sectors. The expansion was its response to declining profitability in the steel sector.

Source: Kallanish.com

voda 23 januari 2017 17:17

0

Indian iron ore output surges in November

Indian iron ore production surged 28% on-year in November to 16.3 million tonnes at a value of INR 2,140 crore ($314.1 million), Kallanish learns from India’s mines ministry.

Manganese ore production increased 38% to 226,000t, but chrome ore output fell -17% to 237,000t in November.

Indian domestic iron ore availability is gradually improving after the reopening of various mines following the lifting of an iron ore mining ban that caused a shortage.

In the fiscal year through March 2031 India is forecast to require 447mt of iron ore and 180mt of coking coal. India’s steel ministry plans to create a policy to promote the use of electric arc furnaces that will bring down coking coal usage (see Kallanish 12 January). Impetus will also be given to iron ore pelletising as pellets will be used as direct feedstock in blast furnaces in place of high-grade iron ore which the government wants to conserve.

Production of coal in November, meanwhile, increased 7% on-year to 60.4mt at a value of INR 8,737 crore.

Source: Kallanish.com

voda 23 januari 2017 17:18

0

Thailand exempts Japanese steel imports from tariff quotas

The Thailand Department of Foreign Trade has announced that Thailand has exempted Japanese steel imports from quotas from January 2017, based on the Thailand Economic Partnership Agreement (JTEPA) signed on 1 November 2007. Japanese steel exports to Thailand have already been increasing as Thai automotive and manufacturing demand recover, Kallanish notes.

Official data from Japan Iron & Steel show that over January to November 2016 Japan exported over 5.3 million tonnes of iron and steel products to Thailand, an increase of 10.1% year-on-year.

Thailand had been setting quotas on Japanese steel imports since 1 November 2007. According to the JTEFA, tariffs quota should be removed in the eleventh year.

Tupun Nopaa, director of Trade Department under Thailand’s Ministry of Commerce, says that Thai companies can import Japanese steel products from 1 January without paying import duties by providing JTEPA format origin country certification. There is also no import volume limit for local companies.

Source: Kallanish.com

voda 23 januari 2017 17:21

0

Vietnam foresees steel production growth slowing in 2017

Vietnam produced 17.5 million tonnes of crude steel in 2016, an increase of 16.8% year-on-year, according to the Vietnam Economics Times. The Vietnam Steel Association (VSA) expects growth to slow in 2017, Kallanish notes.

In 2016, Vietnamese annual steel product sales volume was 15.3mt, up by 23.7% y-o-y. VSA estimates that Vietnam’s steel output growth rate will shrink to around 12% in 2017, with major steel products sales reaching 17mt.

Vietnam exported steel products with a total value of $2.4 billion last year, an increase of 18.1% y-o-y. Exports to the United States have soared and Asean countries are still the largest market. Imports also grew rapidly to $9.1 billion in value.

According to the Ministry of Industry and Trade, Vietnamese steel capacity could only meet around 40% of domestic market demand in 2016.

Vietnam can satisfy local demand for steel billet, construction steel and some cold-rolled coil (around 7-8 million tonnes/year). Demand for hot-rolled coil however, which is mainly used in steel pipe production, shipbuilding, re-rolling and galvanized steel production is still dependant on imports (around 10m t/y).

The VSA says that it will keep using trade protection remedies to ensure fair play to defend the development of local steelmakers. Vietnam imposed duties on Chinese steel billet early last year, although lot of construction steel is still entering the coutnry described as alloy steel, and hence avoiding duties.

Source: Kallanish.com

voda 23 januari 2017 17:22

0

Mobarakeh Steel registers domestic sales increase

Mobarakeh Steel (MSC) received or dispatched orders for 4.45 million tonnes of steel in the eight months through 20 November, up 32% on-year, according to MSC chief marketing officer Mahmoud Akbari.

This included orders for 3.6mt from the domestic market, a 58% on-year increase, while export orders declined -23% to 850,000t. “This shows that Mobarakeh Steel Company is determined to support local downstream industries,” Akbari says in a note seen by Kallanish.

Slab accounted for 8% of MSC’s eight-month shipments, while hot rolled coil and cold rolled coil comprised 65% and 18% respectively. Coated sheet comprised 5%.

“Given that there has been a shift in the makeup of local demand, MSC exports mostly include items which are not in high demand on the local market,” the flat steelmaker says. For example, 250,000t of slab was exported in the eight months. In the domestic market 30% of MSC’s HRC sales go to pipe and profile producers, while 15% of CRC goes to automotive producers.

Europe takes in 50% of MSC’s exports, while the Middle East and Far East take in 33% and 17% respectively.

MSC plans to commission by March its new 1.8 million tonnes/year continuous slab caster no.5, which will take its crude steelmaking capacity to 7.2m t/y. Moreover, it is on the verge of completing construction of a 5m t/y pelletising plant at its Sangan iron ore mine.

Source: Kallanish.com

voda 23 januari 2017 17:23

0

Saudi rebar/rod imports plunge in November

Saudi Arabian imports of rebar and wire rod plunged -58% on-year in November 2016 to 29,806 tonnes, according to General Authority for Statistics data monitored by Kallanish.

The drop coincided with increasing international long product prices, which were driven by higher Chinese demand and ballooning coking coal prices.

The main longs supplier to Saudi in November was Ukraine with a 73% on-year rise to 14,832t, all of which was rebar. Next was China despite an -83% fall in supply to 6,891t, almost all of which was wire rod. Egypt came next with 3,697t – all wire rod – versus zero in November 2015.

In the eleven months through November Saudi rebar and rod imports fell -2% on-year to 858,894t, bringing to an end the rising year-to-date trend seen since last May.

Nevertheless, eleven-month carbon wire rod imports rose 16% on-year to 565,762t. This was driven by a 29% growth in China-origin supply to 385,639t. United Arab Emirates was next-largest supplier despite a -19% decline to 131,008t. Egypt came third with a 193% surge in supply to 35,816t.

Eleven-month imports of straightened rebar – under HS code 7214 – also grew, by 36% on-year to 250,682t. Turkey was the main supplier despite a -30% drop in shipments to 85,242t. This was followed by Ukraine with an 86% rise in supply to 54,532t and Qatar with 50,003t of supply versus zero in the year-earlier period.

Qatar, however, supplied only 690t of rebar in coil – HS code 721310 – versus 116,938t in January-November 2015.

Eleven-month imports of stainless and alloy wire rod, meanwhile, halved on-year to 41,656t.

Source: Kallanish.com

voda 23 januari 2017 17:24

0

Hadisolb rights issue to raise funds for rehabilitation

Egypt’s financial supervisory authority has given the go-ahead for Egyptian Iron and Steel Company (Hadisolb) to conduct a rights issue next month.

The steelmaker will issue 488.4 million shares at a nominal value of EGP 2 per share in a bid to raise EGP 976.9 million ($51.3m) that will partly go towards the producer’s much-anticipated rehabilitation.

Some funds will also be allocated to the import of coke, as traditional supplier and sister company El Nasr Co. continues to experience production problems.

The rights issue – through cash subscription for existing shareholders, according to priority right – will launch on 12 February and run through till 15 March.

Last week Hadisolb contracted UK-based Metals Consulting International (MCI) to conduct a feasibility study into its rehabilitation (see Kallanish 19 January). Last year the steelmaker’s management mulled over bids from Russian, Chinese and Italian firms for the rehabilitation. Mitsubishi Heavy Industries also spoke to the Egyptian government about partaking in the revamp.

Last May Hadisolb restarted its refurbished blast furnace no. 4, marking the first time since late-2012 that the steelmaker operated with more than one blast furnace. BF3 had been the only unit in operation over the previous three years. However, BF3 has since been idled as it requires maintenance and there is insufficient coke to keep it running.

Hadisolb’s revenue in the five months through November 2016 rose 18% on-year to EGP 494.32m. The 1.2 million tonnes/year crude steel capacity company produces slab, billet, hot rolled coil, cold rolled coil, profiles, sections and plate.

Source: Kallanish.com

voda 23 januari 2017 17:26

1

President Trump assumes office, promises manufacturing renaissance

Republican Donald Trump was officially sworn in Friday as President of the United States on a platform of aggressive trade enforcement, pro-manufacturing rhetoric and infrastructure improvement.

President Trump’s inaugural speech offered several callbacks to his campaign promises to bolster manufacturing employment and curb allegedly unfair trade practices, Kallanish reports.

“One by one, the factories shuttered and left our shores with not even a thought about the millions and millions of American workers that were left behind.

The wealth of our middle class has been ripped from their homes and then redistributed all across the world. But that is the past and now we are looking only to the future,” President Trump says. “We assembled here today are issuing a new decree to be heard in every city, in every foreign capital and in every hall of power. From this day forward, a new vision will govern our land. From this day forward, it's going to be only America first. America, first. Every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families. We must protect our borders from the ravages of other countries making our products, stealing our companies and destroying our jobs. Protection will lead to great prosperity and strength.”

His speech also hinted at an increased focus on infrastructure construction, a platform point that has drawn praise from many domestic steel and auxiliary trade groups.

“We will build new roads and highways and bridges and airports and tunnels and railways all across our wonderful nation. We will get our people off of welfare and back to work rebuilding our country with American hands and American labor,” says President Trump. “We will follow two simple rules: Buy American and hire American. We will seek friendship and good will with the nations of the world, but we do so with the understanding that it is the right of all nations to put their own interests first.”

Source: Kallanish.com

[verwijderd] 23 januari 2017 20:12

0

quote:
voda schreef op 23 januari 2017 17:26:
President Trump assumes office, promises manufacturing renaissance

AB, Voda voor al de nieuwsberichten.

Wat ik er uit opmaak, afgaande op het vlug scannen van de berichten is dat de staalindustrie momenteel aan het herstellen is.

Er kan altijd even een correctie komen, zoals op de andere draad al opgemerkt werd; goede cijfers worden niet altijd met een goede stijging beloond.

Success,

Ozzy

voda 23 januari 2017 20:17

0

Chinese shipbuilding steel demand dips further in 2016

China’s shipbuilders are facing difficult times with the global shipping industry is still heavily oversupplied, according to the latest report from the China Association of the National Shipbuilding Industry (Cansi). Cansi predicts flat global new ship order volumes in 2017 of 30-40 million dead weight tonne, but China will still retain its leading position in the shipbuilding sector (see table below), Kallanish notes.

Zie PDF

China completed 35.32 million deadweight tonnes of ship in 2016, down 15.6% year-on-year. That equates to around 12.21mt of finished steel demand, Kallanish calculates. In addition, it received new orders of 21.07m dwt compared with 2015’s 31.26m dwt, bringing orders down to levels not seen since 2012.

China's shipbuilders had orders in hand of 99.61m dwt at the end of 2016, a decrease of -19% y-o-y. In 2017, it expects orders in hand to drop below 90m dwt by the end of the year. What coud make the situation worse however is buyers which have no ability to take their ordered vessels, as this could lead to missed payments, collapsing order books and wasted expenditure.

China’s Metallurgical Industry Planning and Research Institute has predicted 2017 Chinese shipbuilding steel demand could decrease by another -4.2% to 11.5mt.

Source: Kallanish.com

Bijlage:

voda 23 januari 2017 20:19

0

China adjusts futures trading limits over spring festival

China's Shanghai Futures Exchange (SHFE) and Dalian Commodities Exchange (DCE) have announced special minimum trading margins and price change limits for the Spring Festival, effective 25 January (see table below). These will revert back to the original levels on the first trading day after two of the three main contracts fail to hit their daily price limits after resuming trading on 3 February, Kallanish notes.

Zie PDF

The trading margin for coking coal and coke remains at 15%, and their price limits are still at 9%. The Chinese public Spring Festival holiday is over 27 January to 2 February. There is no night trading on the exchanges from 26 January.

Source: Kallanish.com

Bijlage:

voda 23 januari 2017 20:21

0

quote:
OzzyO schreef op 23 januari 2017 20:12:
[...]
AB, Voda voor al de nieuwsberichten.

Wat ik er uit opmaak, afgaande op het vlug scannen van de berichten is dat de staalindustrie momenteel aan het herstellen is.

Er kan altijd even een correctie komen, zoals op de andere draad al opgemerkt werd; goede cijfers worden niet altijd met een goede stijging beloond.

Success,

Ozzy

Je hebt helemaal gelijk. We (wij) moeten gewoon geduldig afwachten!
Time will tell!

Succes,

Beste Ozzy

voda 23 januari 2017 20:23

0

Chinese HRC export prices gain ahead of holiday

Chinese hot rolled coil export prices have improved over the last two weeks on the back of better domestic prices and buying ahead of the lunar New Year holidays across several Asian countries. There is significant competition from other suppliers however, with India continuing to sign deals into Vietnam, Kallanish notes.

Benxi Steel Plate sold a cargo of re-rolling grade HRC to Vietnam at $530/tonne cfr last week. Chinese exporters were still seeing more volumes go to South Korea however as several Vietnamese buyers had secured shipments of Indian HRC over the last week at around $510/t cfr.

Several exporters have already booked holidays for this week and last week noted that it was likely the last chance to secure orders before the New Year holidays in any case. The market officially returns on 3 February, but at that point all eyes will be on the domestic market to set the direction of prices. Until there is some clarity in that arena, it will remain difficult to book export deals.

Source: Kallanish.com

voda 23 januari 2017 20:28

0

Leuk voor Aperam! :-)

European alloy surcharges and stainless base prices increase

After rising in December and January, alloy surcharges in Europe are again increasing for February as forecast. This is due to higher nickel prices which remain over $10,000/tonne and concerns in China and Europe about ferrochrome. Prices for the ferroalloy are rising steeply due to low availability especially in China, Kallanish hears from market sources.

In February alloy surcharges will increase by around €80-90/t ($85.1-95.7/t) to €1,430/t on average from the January levels €1,340-1,350/t.

Taking into account the high volatility of nickel over the past month, alloy surcharge projections for March from European mills are €20-30/t lower than February. They remain €50/t higher than in January however and are settled for the moment at €1,400-1,410/t, depending on European mill. High alloy surcharges are combining with a €30/t increase in base prices by European mills between December and March. This will pushup all finished stainless steel prices until March, sources say.

European mills’ order books are full until the end of the first quarter 2017 and most producers are only accepting orders for April and May delivery. The market however has been psychologically affected by the latest and unpredicted sudden fall in the price of nickel. Due to this nickel volatility, the current attitude of end-users and retailers compared to last month is therefore that of uncertainty and careful ordering, Kallanish learns.

Source: Kallanish.com

voda 23 januari 2017 20:52

0

Southern European rebar export prices settle below expectations

Rebar prices for exports from Southern Europe settled during the last week below the initial expectations at the beginning of January, Kallanish understands from market sources.

While the main export market for Italian and Spanish mills, Algeria, remains on hold as the government has not issued its import licences yet, mills have had to lower their requests for exports.

A trader confirms that volumes from Italy can be easily ordered at €430/tonne ($459/t) fob, while mills were hoping to raise their levels closer to €450/t fob.

Another trader said Southern European mills remain silent. Due to the difficulties that Turkish mills are having to hold their rebar offers at $420-430/t fob currently, anything above €420/t fob from Europe is unlikely to attract any interest.

Meanwhile, looking ahead, the Algerian domestic market price has increased significantly due to the shortage of imports. As soon as licences are granted therefore, South European mills could sell at a significant premium compared to the current levels. Currently domestic rebar prices including VAT and transport are as high as €590/t, with wire rod at €625/t.

Source: Kallanish.com

voda 23 januari 2017 20:53

0

OCTG prices hold tight on oil, supply strength

US oil country tubular goods (OCTG) prices remained steady Friday due to gathering strength in oil and still-restricted supply, Kallanish reports.
Kallanish currently puts OCTG P110 domestic casing at $1,200-1,250/short ton.

One buy-side source says oil prices are a part of the new stability in OCTG, but supply is emerging as the dominant factor.
“It is tight,” he says. “[... Domestic mills] are ramping up, but not fast enough.”

The combined US-Canadian rig count currently stands at 1,036 as of 20 January, up 149 from last year’s equivalent count.

Source: Kallanish.com

voda 23 januari 2017 21:41

0

Iron ore rebounds as Todds set to invest

Seaborne iron ore prices rebounded on Monday on the back of higher deals but remained close to the $80/tonne mark. Prices will have to stay high if the Todds are going to pull off their Pilbara iron ore plans, but they remain optimistic.

The Kallanish index for 62% Fe Australian fines recovered $0.82/t to $80.16/dry metric tonne cfr Qingdao. 170,000t of PB fines sold in a tender at $80.01/t with a laycan in 9-18 February. On the Dalian Commodity Exchange, the May iron ore contract closed down CNY 16/t from the previous day at CNY 611/t ($89/t), while the same contract for coking coal closed down CNY 47.5/t at CNY 1,173/t.

New Zealand’s billionaire Todd family are still pressing ahead with a $5 billion investment in Pilbara iron ore. Todd Corp signed a framework agreement with the government of Western Australia on Monday for their proposed Balla Balla project.

If the plans, spread across several companies with Todd investment, finally come fully to fruition, a new export network for 50 million tonnes/year of iron ore exports could be created. The investments include a mine which could ship up to 10m t/y of ore. One of the biggest impacts that the project could have, however, is unlocking hematite deposits which have not had access to existing infrastructure, which is controlled by Rio Tinto, BHP Billiton and FMG.

For the investment to be completed, however, analysts say iron ore prices will have to remain high for years to come, something which an extra 50m t/y of iron ore on the market would likely make even less probable.

Source: Kallanish.com

voda 23 januari 2017 21:51

0

Nog maar 2 dagen extra nieuws voorziening te gaan. Ik werd uit Duitsland gebeld, of ik een abonnement wilde. Nee dus, mij teveel geld (1,080.00 euro.)

Wie o wie neemt mijn edele rol over? (voor 2 weken)

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