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The Korean government’s public procurement service (PPS) is aiming to buy its second parcel of 40,000 tonnes of US scrap for the country’s first steel scrap stockpile. This and the inaugural consignment are to arrive in Korea around mid-December.
Courtesy: Steel Business Briefing
Scrap surcharges used by Nucor and other American steelmakers to determine monthly steel transaction prices are heading down.
Due to a $25 per long ton decline in a benchmark shredded scrap price (from $260 to $235), surcharges on rebar, merchant bar, wide flange beams, light structural’s and plate will likely decline [...]
September US scrap prices for various grades have risen anywhere from $15-$24/long ton over the previous month, according to a ferrous scrap price index compiled by Pittsburgh-based Management Science Associates (MSA).
MSA’s RMDAS (Raw Material Data Aggregation Service) shows prices are up in all US regions, across the board, for prompt [...]
Tokyo Steel Manufacturing has decided to slash scrap buying prices for all grades at all works by ¥1,000/tonne ($11/t) effective from 25 September arrivals. Japan’s largest independent mini mill announced the cut to its buying prices on Thursday, the first day that Japan returned to work after a string of national [...]
Monday, 29 Jun 2009
Industry leaders said that global steel producers are cautiously increasing production, albeit from extremely low levels, as signs emerge of modestly improving demand and recovering investor confidence.
Mr LN Mittal CEO of ArcelorMittal SA, while speaking to participants at American Metal Market’s Steel Survival Strategies conference in New York City, said that he [...]
As Appears on Forbes.com
NEW YORK, June 9 (Reuters) - Shares of some major U.S. steel companies rose on Tuesday and analysts attributed it to rising prices for the flat-rolled steel products made by those manufacturers.
In afternoon trading on the New York Stock Exchange, AK Steel Holdings’ stock was 8.7 percent higher at $18.93, while U.S. [...]
In a widely anticipated move, antidumping and countervailing duty petitions against imports of Chinese OCTG have been filed with the US government. Seven US pipe producers and the United Steelworkers union (USW) filed the cases alleging that Chinese OCTG producers have been benefiting from enormous government subsidies - and that dumping margins range from 40% [...]
Scrap Steel trends 2009. Over the past week, the Chinese scrap market still maintained its slight rising trend,
With US shredded scrap prices dropping this month, there is a very good chance that US rebar prices will fall right along with them.
World stainless steel production fell by almost 30% year-on-year in the final quarter of 2008, estimates analyst Macquarie Research Commodities. This is the biggest such quarterly drop since 1975, it adds, reflecting the severity of the global turndown and the “desperate measures” taken by stainless mills.
Factoring in this decline in activity, Macquarie estimates global stainless [...]
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