Vietnamese hot rolled coil importers were not receptive to sharply hiked offers from overseas suppliers last week, Suppliers raised HRC offer prices by large margins in tandem with firming global markets. A popular Chinese mill is offering SAE 1006 2-2.5mm thickness HRC at $860/tonne cfr Ho Chi Minh City for shipment by end-April. Some…
Although CIS merchant slab trade remains low, sales to southern Europe and Turkey in the past week have lifted prices yet again, with new offers expected at even higher levels, market participants tell Kallanish. Russian slab was sold to Turkey at $710/tonne cfr, netting back to around $680/t fob Black Sea, while a sale…
Vietnam’s leading steelmaker, Hoa Phat Group, will export hot rolled coil to Italy in mid-February, after signing the contract earlier this month The 35,000-tonne HRC export deal was signed by Hoa Phat Dung Quat Steel Joint Stock Company, marking its first sales of HRC to Europe. According to Tran Ngoc An, a sales department…
The CIS billet export market remained tight over the past week, with trade still mainly focussed on Egypt, Kallanish notes. Prices continued to rise, with some participants saying they may be peaking, unless post-Lunar New Year demand in Asia gives a second wind to the Black Sea billet market’s recovery. Egypt continued to book…
Owing to overbooking for March shipments, coupled with a feedstock cost-push and positive sentiment for steel in the global market, Indian mills have hiked hot rolled coil offers this week. Quotes have surged $40/tonne on-week to $870-880/t fob India. This now means prices have soared around $150/t since the beginning of last month. “Chinese…
The Vietnamese hot rolled coil import market has reopened this week with much-anticipated price hikes from overseas suppliers. Chinese HRC offers are now competitive, Kallanish notes. Although Chinese suppliers have hiked export offers, their quotes are lagging behind other Asian HRC mills who have achieved much higher export prices in tight overseas markets. …
In Wednesday’s tender, the Kanto Tetsugen Cooperative Association awarded two 5,000-tonne parcels to Daisen Sangyo Corp at JPY 55,850/tonne ($483/t) and JPY 55,840/t. These prices are for H2 grade and fas basis. The average award price of JPY 55,845/t fas or around JPY 56,845/t ($493/t) fob was JPY 4,862/t higher than last month’s tender. The…
Indian scrap buyers halted import bookings on Thursday owing to a drop in semi-finished steel and iron ore prices in the domestic market. This follows aggressive bookings by Indian buyers earlier this week, which led to a rise in imported scrap prices by $5/tonne. Price direction is now uncertain and will depend on how sentiment…
LMM Global Steel Information Quick View (2021.11.29) According to understanding, Turkish billet prices continued to decline gradually on November 24, and Kardemir, a major integrated long product producer in Turkey, carried out a new round of price cuts. Yesterday, with the sharp depreciation of the Turkish currency, the overall market sentiment was still mostly negative.…
India’s severe power shortage crisis, the northern states have power outages for 14 hours a day, and the recovery of the manufacturing industry is hindered! After India experienced the second wave of the new crown epidemic, the economy gradually recovered, and the demand for electricity has also increased substantially. The wind of the energy crisis…