Latest steel news update for you
In the last week, raw steel output of the Great Lakes region had dropped by 0.46 percent to 636,000 tons, while the total output of the United States fell by 1.7 percent to 1.6 million tons.
In 2015, due to the cheap imports, steel output in the United States declined by 10.5 percent year-over-year, the output of the period so far this year fells in a similar pace.
According to the estimate by American Iron and Steel Institute, the nationwide crude steel capacity utilization was only 68.6 percent.
The import price of 62% Fe content ore at the port of Tianjin had another down day on Tuesday to trade at $56.20 per dry metric tonne according to data supplied by The Steel Index. The steelmaking raw material is still up more than 50% from near decade lows struck in December.
According to the Customs figures, the first seven months of this year, Russia exported 114600 tons of nickel to outside of CIS, an increase of 4.4% year on year; Russia exported 200 tons of nickel to CIS, an increase of 1% yera on year.
It is reported that Ukraine’s iron ore exports reached 27.25 million tons in January-August, down 9.9% year on year; while Ukraine’s iron ore imports reached 1.43 million tons, down 6.9% year on year.
Among them, the biggest export country such as China accounted for 38.51% of the total imports; Czech Republic accounted for 10.55% of the total imports; Poland accounted for 9.67% of the total imports.
China’s steelmaker Jiangsu Shagang Group has announced its price list in the domestic market for mid-September. The company decided to cut its prices for construction steel by RMB100/ton for mid-September.
The prices for HPB300 wire rod with diameter of 6.5-10mm are at RMB2,660/ton, up RMB80/ton. The company’s price of HRB400 rebar with diameter of 12-14mm are at RMB2,530/ton, dropped at RMB100/ton, the above prices include 17% VAT, effective immediately on September 21-30.
Philippines is the world's largest supplier of nickel ore, but since July 1st, the government started the environmental review, the Philippines has shut down 10 mines, included 8 of nickel mines, which led international nickel prices soared.
Philippine Department of Environment said on September 27th, announced the latest mining review results.
On August 1th, President of the Philippines (Rodrigo Duterte) warned mining companies in strict compliance with environmental regulations, otherwise it will be closed.
Thailand industrial iron and steel industry association believes that due to the global steel production overcapacity, Thailand will remain close upstream steel industries investment within 4-5 years.
And it believes the ASEAN Nations also hesitate to invest. However, It is reported that Vietnam’s steel investment project has been completed, but is not formally put into production.
