SOUTHERN EUROPE STEEL SECTOR: UPWARD PRICE MOMENTUM SLOWS
After the first 10 months of 2020, the upward price momentum in the Southern Europe steel sector starts to slow down. Source: MEPS International Ltd
VIETNAM STEEL SCRAP PRICE: SUPPLY SHORTAGE DRIVES THING UP
According to some Vietnam market sources, China billet purchases and the shortage in scrap supply have continued to drive up Vietnam steel scrap price. 1. Recent trades in the scrap market shows an increase in scrap price Two weeks ago, a major scrapyard had sold 02 bulk cargoes from the United States West Coast and […]
EUROPEAN STEELMAKER CONSOLIDATION COULD HELP CONTROL PRICES & COSTS
European steelmakers need to consolidate to gain better control over pricing and the supply-demand balance as well as to better tackle rising production costs, but it will not solve the major problems of the European flat steel market, sources told Fastmarkets. 1. European consolidation and changes it might bring. In November 2020, rumors about two […]
CONTAINER LINES SLASH FREE DAYS: CANCELLATION FEES RAISE, MISERY FOR STEEL TRADERS INCREASES
Over the past week, an acute shortage of containers and new rule changes by container lines have combined to again raise containerized shipping costs for commodity market participants, including steel traders. 1. Shipping lines companies gain large profit increases Recently, container lines have not only continued to raise freight rates but have also introduced additional […]
MORE MILLS IN CHINA CONVERT TO FLAT STEEL PRODUCTION FOR PROFITS
According to many market sources, more Chinese mills have redirected their molten steel to flat rolled items rather than longs, as the margins for cold-rolled steel are extremely good. 1. More Chinese mills have switched to flat rolled steel production More and more Chinese mills have switched from longs to flat steel production a month […]
STEEL PRICES REBOUNDED: A BETTER YEAR TO COME?
In the last months of 2020, steel prices rebounded globally and Vietnamese steel exports also saw positive growth. Positive growth in the last months of 2020 According to the Vietnam Steel Association (VSA), steel production of all kinds reached more than 2.4 million tonnes last month. The month-on-month increase is about 4.34%, while the year-on-year […]
VIETNAM STEEL SCRAP PRICE: NEW VIRUS STRAIN RAISES SUPPLY FEARS
Vietnam steel scrap price might fluctuate again due to supply fears caused by the new coronavirus strain found in the United Kingdom. The new strain of coronavirus raises scrap price, also drives the fear of supply shortage With the new strain of coronavirus found recently in the United Kingdom, the situation of scrap collection is […]
ATTEMPTED YEAR-END SELL OFF IN STEEL SCRAP PRICE DAMPENS SENTIMENT
According to market sources, an increase in the number of physical scrap cargoes offered in key import market Vietnam in the week to Thursday December 31 has dampened sentiment. Lower Japanese cargo prices are offered in the end of the year A Vietnamese shared that many Japanese sellers decided to offer lower scrap prices to […]
CHINA MILLS’ STEEL STOCKS ACCUMULATE FURTHER: WILL THE PRICE GO DOWN?
Consumption among end-users remained depressed & weakened by the sudden winter freeze while the domestic mills still maintained high output leading to higher steel stocks of the five major finished products. 1. Steel stocks continue to accumulate As of January 6, total inventories of rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate at […]
THE US STEEL INDUSTRY CALLS FOR THE CURRENT IMPORT TAX TO REMAIN
On January 11, the steel industry and trade unions in this sector urged President-elect Joe Biden to keep the 25% tariff on imported steel. 1. The US steel industry expects the current import tax to be maintained On January 11, the steel industry and trade unions in the sector urged President-elect Joe Biden to keep […]
