| Commodity Market News |
China stainless steel use seen up 5 pct in 2010
27 May 2010
China's apparent consumption of stainless steel, the main driver of the country's nickel demand, is expected to rise by 5 percent in 2010.The growth rate in 2010 would not be as strong as last year, but he did not give a figure for 2009.
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Mexico slaps anti-dumping duties on China steel
27 May 2010
The Mexican government said in last week of May 2010 that it would impose provisional anti-dumping tariffs on steel tubes from China, which it said were competing unfairly in the Mexican market.The economy ministry found in an investigation that Chinese seamless steel tubes, often used for oil and gas pipelines, were entering the country at below-market prices, hurting the national industry.
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Turkey flat steel exports may triple in 2011
27 May 2010
Turkey's flat steel exports to Europe will be steady in 2010 before doubling or tripling next year when new factories are expected to add extra output capacity, according to the head of a flat steel association.
Similarly, flat steel imports will drop to 4 million tonnes this year and 2 to 3 million tonnes next year from 5.5 million tonnes in 2009.
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China steel mills buy ore in monthly, quarterly deals
11 May 2010
Chinese steel mills are now importing iron ore through monthly and quarterly contracts after the collapse of annual pricing negotiations.Without the annual prices, which capped term prices below spot prices for most of the last six years, steel executives are determined to fight a proposed iron ore joint venture between mining giants Rio Tinto and BHP Billiton which they fear will further raise raw material prices for the industry.
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U.S. steel industry recovery tied to autos, housing
04 March 2009
Guarded optimism surrounds expectations for a 2012 recovery in the U.S. steel industry, as much will depend on how firm the recoveries are in the construction and automotive sectors of the economy.
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Ukraine steel output to rise in 2010 –minister
04 March 2009
Ukraine is expected to produce 31.5 million tonnes of steel in 2010 due to higher foreign demand, more than last year's 29.8 million tonnes, Industry Policy Minister Volodymyr Novytsky said on 02 March 2010. The figure is similar to a prediction given by the steel association Metalurgprom of 32 million tonnes but lower than an earlier ministry forecast of 38.2 million tonnes. Novytsky said the production of pig iron in 2010 was likely to rise to 27.5 million tonnes while rolled steel output was seen at 29.0 million.
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Saudi steel output capacity to rise 50 pct by 2012
30 December 2009
Saudi Arabia's domestic steel production capacity will rise by at least 50 percent within the next three years. Saudi Arabia's steel production capacity stands at about 8.4 million tonnes and authorities have imposed restrictions on exports of both the commodity and scrap metal due to tight supply in the domestic market.
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Global steel production up in Nov, China slows
28 December 2009
Global steel production rose for a third month in a row in November but edged down from October as Chinese output slowed, while improved demand prompted steelmakers to bet on a strong recovery in 2010. Crude steel output worldwide was 107.5 million tonnes in November, up 24.2 percent year-on-year, but down from 113.4 million in October, data from the World Steel Association showed on Monday. Members of the group represent 85 percent of total world output.
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Global steel production up in Nov, China slows
23 December 2009
Global steel production rose for a third month in a row in November but edged down from October as Chinese output slowed, while improved demand prompted steelmakers to bet on a strong recovery in 2010. Crude steel output worldwide was 107.5 million tonnes in November, up 24.2 percent year-on-year, but down from 113.4 million in October, data from the World Steel Association showed on Monday. Members of the group represent 85 percent of total world output.
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Arcelormittal sees China steel drop as temporary
21 September 2009
Arcelormittal, the world's top steelmaker sees the recent drop in Chinese steel prices would prove temporary as the real economy in the world's top steel consumer remained strong. The inventory build up (in China) caused some price drop, which is bad news as per Lakshmi Mittal, Chairman and Chief Executive of Arcelormittal.
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