FOUNDRY NEWS

Wednesday, February 2, 2011

US Scrap Prices May Decrease by US$20~US$30/ton

February 1, 2011

Reportedly, the US has decreased the export quotes of scrap for Turkish and Asian market by US$20~US$30/ton last week.

It’s known that Turkey’s mills stopped purchasing the scrap from the US in January due to sharply rising prices; however, Turkish buyers have returned to the market and purchase the US scrap with the price lower by US$25/ton in comparison of this in the previous two weeks.

Hence, it’s predicted that the US scrap prices would dip further by US$20~US$30/ton in February.

News Source www.yieh.com

In 2010 There Was Record World Stainless Steel Output

February 1, 2011

MEPS expects global crude stainless steel output for 2010 to have reached an all-time high total of 30.45 million tonnes, 7.4 percent more than the previous record figure from 2006.

Overall worldwide production for last year is expected to equate to an increase of nearly 24 percent over 2009, which represented the low point of the recent global slump. Another record outturn of over 31 million tonnes is forecast in 2011.

Activity in the EU increased in the last three months of the year, driven by manufacturing in Germany, Sweden and Poland, to finish the year at an estimated 25 percent more than in 2009.
The annual total stainless production in the United States in 2010 is now expected to be almost 40 percent up on the outturn in 2009, which marked the bottom of a very deep slump. However, it is still down on the 2006 peak.

Japanese output is estimated to increase by nearly 27 percent, compared with the tonnage produced in 2009. South Korean activity picked up during the second half of 2010 to finish the year on a preliminary total of 2 million tonnes.

Chinese stainless production is expected to be over 11 million tonnes in 2010 – more than double the output in 2006. In Taiwan, the slump of 2008 and 2009 was not as severe as in some western markets. Consequently, 2010’s estimated total output was only 16 percent higher than the previous year.

News Source MEPSç

Friday, January 28, 2011

Some FeSi Producers Raised Prices

Though ferrosilicon prices were mostly kept stable recently, some producers in Gansu have raised their prices slightly because of the limited usage of electricity power. With stocks being low, these producers increased their quotations to RMB7,000-7,200/mt. (1,60-1,080 $/t) And some suspended offering prices.

With the Spring Festival drawing, most producers expected that the market would keep calm on the whole. With more and more plants to stop producing, Chinese silicon metal market is anticipated to be steady before holiday. For one thing, most buyers have suspended purchasing so that some plants choose this opportunity to examine equipments. For another thing, some plants are forced to close because of power shortage, and goods would be delivered with problems.

HRC Prices Increase in Latin America Jan 27 2011

January 27, 2011

Reportedly, the import prices of hot rolled coils (HRC) have surged to US$800/ton CNF in Latin America and the Middle East.

For Latin America, it’s known that its HRC prices are related to the US domestic market since the US steelmakers are main suppliers of HRC to Mexico and elsewhere in Latin America.

It’s known that the US current prices of HRC are at US$780~US$800/ton; moreover, some integrated steelmakers have planned to increase the prices further to the level of US$870/ton for March shipments.

Market slips as EU recyclers look to win market share

London 27 January 2011 17:46

MB’s Ferrous Scrap Index cfr Turkey fell slightly on Thursday, when EU recyclers undercut their US competitors.

The index fell $0.63 from Wednesday’s calculation of $499.16 on the same basis, when Turkish mills booked nine deep-sea cargoes comprising 230,000 tonnes of ferrous scrap.

One mill booked two cargoes amounting to 83,000 tonnes. One of these cargoes will contain 26,000 tonnes of A3, and 17,000 tonnes of shredded, booked from the Baltic at an average price of $502 per tonne cfr.

The second cargo consisted of 18,000 tonnes of HMS 1&2 (80:20) mix at $495 per tonne cfr, another 18,000 tonnes of shredded at $500 per tonne cfr, and 4,000 tonnes of bonus material at $505 per tonne cfr.

Other EU recyclers were also active. A Scandinavia-origin scrap sold at $492 per tonne cfr for HMS 1&2 (80:20) mix, and $497 per tonne cfr for shredded material. The cargo’s volume is 25,000 tonnes.

A UK recycler also entered the market, selling 16,000 tonnes of HMS 1&2 (80:20), 13,000 tonnes of shredded and 6,000 tonnes of bonus at an average price of $498 per tonne cfr to a Turkish mill.

Two further Turkish mills bought for February delivery, one buying 25,000 tonnes of HMS 1&2 (75:25) at $486 per tonne cfr, while another steelmaker buying at $500 per tonne cfr.

“Steelmakers in Turkey are still in the market for scrap,” a Turkish mill said.

Wednesday’s activity in Turkey has sent ripples across the global Fe scrap market, with traders in India now hiking offer prices to $495 per tonne cfr, up $15 on Indian mills last price position.

Hsin Kuang Steel to Increase Steel Prices Jan 27 2011

January 27, 2011

Hsin Kuang Steel’s president said on January 25th that he expected the hot roll coil prices in global steel market to rise to US$800/ton by around the end of second quarter or the early third quarter.

Meanwhile, as the current average prices of hot roll coil are at about US$680/ton, it means the prices may rise by another 20% in the coming future.

Hsin Kuang Steel is the largest steel plate cutting center and distributor in Taiwan; its president analyzed that the floods in Australia will cause the coking coal prices increase to US$320/ton from US$200/ton.

Also, the dysfunctional transportation system and the delay supply of coking coal sources will push the steel prices to go up in the coming future.