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Global steel market hot again
  • 2017-02-26

This is Cong Shine one leader of stainless steel industry .As for global steel market. Let us share latest news with you from CISA.

At the beginning of 2017,the global steel price was increasing. Now it is still up on February. The European steel industry crisis is to blame by themselves. The world steel association, vice chairman, Mr Eder steel union chairman to euro "Sunday" magazine, said: "the European steel industry have not been to cut production as the goal of real structural adjustment, not specifically to develop products for the future, make whole industry into the future development needs and bring it in trouble". Eder also criticized, said: "the eu governments and enterprises of this kind of problem that deserve equal responsibility".

This year the global steel apparent consumption will increase 0.5 to 1.5%.The world's largest steel arcelor mittal has predicted that in 2017 America's apparent consumption of steel market will increase by 3-4%, European consumption will grow by 0.5 to 1.5%, the market consumption will fall by up to 1% in China. Comprehensive, global steel apparent consumption will increase 0.5 to 1.5%.

Rio tinto is bullish on China opportunity. Australian iron ore supplier Rio tinto has said that the benefit from the ore price picks up, profitability in 2016, the year basis $6.06 billion profit, net profit of $4.6 billion, and 2015 losses of $2015.Rio tinto officials said that the healthy development of China's economy, the government, eliminate inefficiencies and pollution capacity is an opportunity for them.

Asian steel market: after suppression up first The home of the region of 106.3 steel benchmark price index, weeks rose 1.1% month-on-month (from flat to rise), up 1.7% y/y (or expand), month rose 60% (with former flat), rose 59.8% in the year (or convergence

Flat material aspects: market prices were mixed. In South Korea, since February, the domestic medium plate prices dropped to below 600000 won/t level (about us $522 / ton) especial 304 stainless steel sheet for the first time this year. At present posco GS400 medium plate prices won 59-600000 / ton (513-522 dollars/ton). the early January dropped 2-30000 won per ton. Winter construction activity is slowing. Traders have said even if demand was decline , but as the weather gets warmer, building contractors, accelerate construction is expected to the end of February in March .The latest prices will gradually be recovering. In early February despite the low resource into other regions of east Asia market, but China's steel mills hot roll quotation still remain strong, at $495 - $520 / ton (FOB).A steel trading business on Russian steel hot rolls clinch a deal the $500 / ton (CFR) in the Philippines and $485 - $495 / ton (CFR) in Vietnam. Cold-rolled finishing stainless steel coil from India to Vietnam clinch a deal the us $500 / ton (CFR). It is not only strong prices but some varieties prices up slightly. However Slab import market is relatively weak. The mainstream price is from $440 to $450 / ton (CFR) fell to $430 - $440 / ton (CFR). The order 40000 tons of slab in April delivery from Russia to Indonesia  price of $430 to $435 / ton (CFR), a decline in early $5 - $10 / ton. It clinches a deal the $425 - $430 / ton (CFR) from Iran slab to Thailand. It is basically the same as before. Some analysts said the recent decline in coking coal market would result in the slab prices down further. But there are some market analysts pointed out that the recent China slab and billet prices regained may be bound to promote the hot coil prices up slightly like 316l stainless steel coil. So the latest prices could continue to be good.
Long material aspects: market price stability is higher. In Korea domestic rebar market is low slightly due to demand. At present SD400 rebar prices is590000 won/ton (us $515 / ton) but in early January it is 62-630000 won/tons. Some traders say dealers had expected up due to increased demand after the holiday. In the past few weeks inventory is more because of the less expected holiday orders So they have to cut prices. South Korean construction association statistics show the new orders of 165 trillion won ($144 billion)in 2016.It is up and peak4.4% from a year earlier. So the market is expected with the launched residential construction projects in March. The rebar prices will be gradually recovering. In early February, Asia rebar market is generally stable. China BS500 rebar export price is $425 to $428 / ton (FOB, actual weight), steel price in the $438 - $443 / ton (FOB, actual weight), Turkey exporters to raise price to $425 / ton (CFR, weight).But due to the increased unstable Chinese market aspect, most overseas purchasers choose MC wait-and-see attitude cautiously.

Trade relations:
(1) on February 7, India's finance ministry said the suggestion of manufacture hot rolled plate volumes of the provisional anti-dumping duty from 6 months to 8 months. But the experts say the market hasn’t agreed completely. Steel mills are welcome but buyers against it. Most buyers said, anti-dumping duties is a protection for domestic steel mills, which can potentially cause domestic steel prices up further and the increased costs;
(2) on February 8, Pakistan customs tariff commission decided to collect 46.89% on cold rolled steel products from China like 201 cold stainless steel tube. It will expire on February 8, 2022 for five years. But Pakistan's import traders said it is unacceptable Because it will improve purchasing cost.
European steel market: vibration. The home of the region of 88 steel benchmark price index, weeks - fell 0.8% (from up to down), up 0.6% y/y (convergence) gains, rose 47.5 (or expand), year rose 46.8% (or expand).
Flat material aspects: market prices rose slightly. Regard to stainless steel sheet, Amy early announced an increase in the price of 2 quarters of flat material. Most steel mills have a rising trend. But the markets show it is difficult hot roll factory price rise to 600 euro /ton .The main reason is the high steel price currently. Germany ruhr hot roll factory price is 570-575 euro/ton. It gained only 5 euro/ton compared to last month. As for the imported steel ,the low prices are from Turkey and Egypt's resources. It is 510-520 euro/ton (CIF, Antwerp), India and South Korea resources quotation is about 530 euro/ton (CIF, Antwerp). In terms of medium plate market participants is generally acceptable for the increased sheet price especial for stainless steel strip. It will results i further promotion in demand, so thick stainless steel plate prices continue to call in the future. At present S235 plate of ex factory price is 575-585 euro/ton in the ruhr Germany .It rises from 5 euros/ton. Import resources offer remains 530-540 euros/ton (CIF, Antwerp) steadily. It is lower than the northern European steel mills ex works, but the same with the eastern and southern European steel mills.

Long material aspects: market prices are basically stable because of inventories in November - /December ,so it is in no hurry to purchase. Market participants said steel mills would cut the price due to the scrap and rebar market weakening, but the price of part of the market of steel scrap is picking up. Import resources offer has bottomed out. The future price movements is not clear So the price of positive factors are increasing. Data show that Europe wire was up from the previous month 5-10 euro/ton, one of Germany's ruhr wire delivery price of 460-480 euros/ton, Italy's wire for ex 430 euros/ton. On the import side, the Turkish rebar is still at 453 euros/ton (CIF, Brandenburg), basic stable.
Trade relations:
(1) on 27 January, the European commission for stainless steel pipe fittings products from the People's Republic of China made final anti-dumping investigation and decided to implement a five-year anti-dumping measures, anti-dumping rate is 30.7% to 64.9%.
(2) on February 8, the European commission review investigation according to the announcement on China's wire and cable sunset
The American steel market: shock and rise. The home of the region of 100.2 steel benchmark price index, weeks rose by 0.3% (and former flat), up 2.3% y/y (convergence) gains, month rose 44.9% (or expand), rose 42.9% (or expand).

Flat material aspects: market prices continue to rise. In the United States, the plate market is generally stable. At present, the Midwest market hot roll middle price fell 3 - $5 / ton. The cold roll steel is  basic stabilizing prices, but the market clinch a deal the light slightly. Most of the buyers is given priority to with waiting. The analysts expects stainless steel sheet prices will run in high consolidation in the United States in the short term.The hot roll factory price is $620 to $630 / ton. The cold roll factory price is $820 to $840 / ton. In Mexico the hot plate prices is up by about 5% since February. Steel mills said the rapid price is the major reason for the increase production cost including the raised gas prices from Mexican government in January. Regular gasoline and high gasoline prices rose 14.2% month-on-month and 14.2% respectively. Meanwhile raw materials such as iron ore prices are also rising in the past few months. And Mexico steel is mainly depend on truck so oil prices will increase the cost of transportation of the steel. That is why the steel price is promoted. At present, the hot taco clinch a deal valence is 1.39 14400 pesos per ton (us $674 - $699 / ton), rose in 600-800 pesos per ton, cold roll for 1.6 16400 pesos per ton (us $777 - $796 / ton), rising from 800-900 pesos per ton, hot galvanized sheet clinch a deal valence is 1.86 19000 pesos per ton, rising from about 600 pesos per ton.

Long material aspects: The whole market prices continue to be stable. In the United States, the southeast mills had an increase in the price of rebar $40 / ton in January because of the scrap steel prices decline in February, the rebar prices maintain our original price basically At present the United States steel rebar ex-factory price remains steady at $530 - $550 / ton, rebar import price of $413 to $418 / ton (CIF, Houston).In addition, affected by the Turkish rebar export prices decline, the rebar import prices was slightly slippery. Traders said the Turkish rebar prices of export to the United States once fell to $409 / ton (CIF, Houston). However, Turkey scrap steel prices have risen by $10 - $15 / tons. It will support the port of the Turkish rebar prices in the march. In addition, the United States launched anti-dumping investigations on rebar from Turkey, Japan and Chinese Taiwan, and from Turkey. And it will also support the price picking up. Currently the rebar import price is $413 to $418 / ton (CIF, Houston), month-on-month drop $5 / ton.

Trade relations:
(1) on January 31, Chilean national import prices distorted commission's public announcement in the official journal, the origin of China's imported bar products launched anti-dumping investigation;
(2) US Department of Commerce make final anti-dumping and anti-subsidy investigation on China stainless steel plate and stainless steel strip. It ruled China enterprise anti-dumping tax rate of 63.86% 76.64% and 63.86% - 190.71% anti-subsidy tax rate;
(3) The Dominican trade harm and safeguard measures regulation committee decided that on January 25, 2017, originally from China rebar products (deformation of reinforced concrete with corrugated or steel bar, 43% of the final anti-dumping taxes, valid for five years.

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