SteelOrbis

Vietnam’s Formosa cuts local HRC offers by up to $30/mt amid cheaper imports On August 19, local Vietnamese producer Formosa Ha Tinh Steel (FHS) announced its new HRC prices for domestic customers, having delayed its announcement by around one week. The new offers have been revised downwards, as expected by most market insiders, in line with the offers of the other Vietnamese producer Hoa Phat Group. However, most market insiders expected its new prices to drop more as new FHS’ offers are still higher than ex-China HRC offers by at least $45-50/mt. In the meantime, offers for ex-China Q235/SS400 HRC in Vietnam have been falling sharply, decreasing to $455/mt CFR on Monday, August 19, down by $15-20/mt since the end of last week, and losing more than $60/mt over the past month. This decline is mainly due to the fall in HRC futures prices in China coupled with the extremely sluggish demand for Chinese coils globally caused by numerous antidumping investigations announced this month and the traditionally slow demand in August... Full story: https://lnkd.in/dqgu2YrH

Ex-China wire rod prices down $20-25/mt this week, upsetting market mood Average offer prices for ex-China wire rod have seen a $20-25/mt fall this week due to rapidly dropping futures prices, weak local demand, and increasing concerns regarding the general state of the Chinese market. As a result, Chinese wire rod has become the most competitive in the Asian market again, though buyers are still cautious. Offers for ex-China wire rod from the second-tier mills have been heard at $460-470/mt FOB, moving down by $20/mt on average compared to last week, while reference deal prices have been heard at $455-460/mt FOB, down by $20-25/mt week on week. After such a sharp drop, ex-China wire rod prices have become the most competitive in the Asian market... Full story: https://lnkd.in/dQXaMk8H

Ex-Australia coking coal heads for $200/mt FOB amid low bids Ex-Australia coking coal has been slipping this week due to the lower bids and price ideas of buyers after the sharp fall seen in the Chinese steel market. Deals are still rare, but market sources believe that demand may improve if offers fall below the $200/mt FOB mark. A deal for Illawarra or Goonyella mid-volatile PHCC was rumoured at $204/mt FOB for September laycan, and, though this could not be confirmed, market sources believe that the real market level is close to this price at the moment. Another cargo is heard to have been sold at $206/mt FOB, but also with no confirmation. Most bids have fallen already to $200/mt FOB or below. A bid for 75,000 mt of low-volatile Peak Downs/Saraji PHCC has been reported at $189.25/mt FOB for September shipment at GlobalCoal... Full story ⬇ https://lnkd.in/dUnKbhV9

Birikmiş tecrübesi, nitelikli iş gücü, mevcut dış ilişkileriyle uluslararası pazarlarda iş geliştirme misyonunu üstlenen NR Yassı Metal, yurt içindeki pek çok üreticinin ürünlerini dünya pazarlarıyla buluşturmaktadır. NR Yassı Metal; sıcak-soğuk haddelenmiş rulo, galvanizli profil, lama-silme ve daha bir çok farklı ürününü global çelik e-ticaretinin ilk ve en büyük adresi SteelOrbis Pazaryeri'nde listeliyor! NR Yassı Metal firması hakkında daha fazla bilgi ve fiyat teklifi almak için tıklayın: https://lnkd.in/d2aWEUmq

Continuous fall in Chinese market recalls 2015, #billet prices hit unexpected low Though prices in the Chinese billet market have been dropping since late last week, this week the pace of the fall has accelerated, and today, August 14, local and export billet prices have again hit the lowest levels seen in a number of years, recalling the peak export year of 2015. Weak credit data and a three percent drop in futures prices have contributed to this situation. “At present, #rebar has touched a seven-year bottom and #HRC is at a four-year low. Local prices are in chaos and most mills changed daily base prices two or three times by RMB 40-60/mt,” one more Chinese source said... Full story: https://lnkd.in/ddD7pVeE

Turkey’s import #scrap market continues its sharp downtrend As Turkey’s appetite for deep sea scrap for September shipment remains weak, the deals closed in the first half of August have all indicated significant prices declines. A new deal disclosed today, August 13, is not an exception. An ex-Netherlands booking done by a producer in Izmir was signed for 25,000 mt of HMS I/II 80:20 scrap at $368.5/mt CFR and 10,000 mt of bonus grade scrap at $390.5/mt CFR. This level is $3/mt lower than the previous indicative level of $370-373/mt CFR reported by SteelOrbis in the absence of any transactions. There is a rumour about the same supplier selling some scrap to Egypt last week at around $370-375/mt CFR... Full story: https://lnkd.in/dzGtFaun

Shandong Steel cuts local #HRC prices by $14/mt for September Shandong Province-based Chinese steelmaker Shandong Iron and Steel Company Ltd has issued its prices for delivery in September this year. The producer has decided to cut its local base prices by RMB 100/mt ($14/mt) for hot rolled coil (HRC), cold rolled coil (CRC), acid pickling plate, hot dip galvanized (HDG), sections, special #steel and hot rolled ribbed steel bars, while cutting its local base price for steel plate by RMB 150/mt ($21/mt), all for delivery in September... Full story: https://lnkd.in/dXRzfKuZ

Local Chinese longs prices still falling for now, but output cuts more obvious During the past week ending August 12, average Chinese domestic #rebar and #wirerod prices have continued their downtrend amid declining rebar futures prices and weak seasonal demand. So far, the #steel production cuts implemented by many Chinese mills due to their negative margins have failed to support finished steel prices. The average rebar price has decreased by RMB 80/mt ($11.2/mt) compared to August 5, while the average 6.5 mm HPB 300 wire rod price has seen a decrease of RMB 93/mt ($13/mt). Rebar prices have edged down by RMB 27/mt compared to the previous trading day, August 9... Full story: https://lnkd.in/d526BBR7

Join the gathering of the world long steel market in Paris on September 15-17. Information: https://lnkd.in/e9_bFt_5

August US scrap prices now seen sideways as mills emerge and sellers bend to cash flow issues US scrap prices for August are now expected to settle sideways to July across all grades, market insiders told SteelOrbis this week. This market view differs from late last week and earlier in July, when the consensus was for sideways to $20/gt (22/mt) higher than July scrap, mostly on reports of reduced collections at Midwest and East Coast scrap yards and expectations for continued strong exports from the US East Coast. #Scrap insiders said bad economic data concerning interest rates, recent employment statistics and stock market declines had combined to overshadow recent calls for higher August scrap pricing. As real demand for finished steel remains muted, they said, the focus for suppliers was shifting from reports of low inventories and solid export demand to maintaining cash flows as mills emerged to purchase their August scrap... Full story: https://lnkd.in/djquPx98