GMK Center

European distributors of steel and metals make a cautious and even somewhat pessimistic forecast for the fourth quarter of the current year. This is evidenced by the results of the latest EUROMETAL Market Sentiment Survey for September, based on a survey of 241 respondents. Last month’s data shows that most respondents expect inventories to remain flat or decline slightly in the fourth quarter. This indicates their careful management against the background of market uncertainty. Previous months have shown a similar picture, with no significant expectations of inventory increases or aggressive replenishment by distributors. The forecast of future activity for October-December, as noted, shows a clear downward trajectory. Distributors seem to be preparing for softening market conditions in the near term. The sector’s price expectations for the fourth quarter of the current year tend to be slightly lower. There is a growing belief that prices will continue to fall. This is evidenced by the most significant answers located below the neutral axis. In the previous two months, respondents showed a more cautious stance on this matter, price expectations were more neutral or slightly negative. Overall, the industry looks set for a challenging finish to 2024 with reduced market activity, stable inventories and potential price declines. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #EU #Europe #metals #forecast #prices #markets

In January-July 2024, the European Union increased imports of mining and metals products from third countries by 1.8% compared to the same period in 2023, up to 76.1 million tons. Metallurgical raw materials accounted for the bulk of imports – 55.67 million tons. Exports of EU iron and steel products to third countries amounted to 28.21 million tons in the period, down 18.5% compared to the same period in 2023. Read more here🔽 https://lnkd.in/daCpK8CW #GMKCenter #Ukraine #steelmakers #steel #EU #Europe #metals #war #mining #export #import #markets #iron #ore #pipes #scrap #pigiron #ferroalloys #DRI #shipments

India’s steel industry will add about 23 million tons of steel production capacity during the fiscal years 2023/2024 – 2026/2027. This is stated in an industry report by international brokerage Nomura. The compound annual growth rate (CAGR) is expected to be 4.8%, which corresponds to the long-term average growth for the 2014/2015 – 2023/2024 financial years. According to analysts, Indian steel companies such as JSW Steel, Jindal Steel and Power (JSPL), Tata Steel and ArcelorMittal Nippon Steel (AMNS) are expected to account for almost 87% of the current capacity expansion in India. Nomura predicts that despite the significant capacity growth, demand will outstrip supply, improving their internal balance sheet and reducing their dependence on exports. According to analysts, Indian steel companies are well positioned in the global steel sector. They benefit from operating at the lower end of the global cost curve, mainly due to lower labor costs. In addition, the cost of iron ore in the country remains competitive compared to other countries, even for non-integrated steel producers. Future expansion in the Indian steel sector is expected to come mainly from new projects, with existing capacity being expanded or modernized. Strong domestic demand is another factor that could help reduce the industry’s dependence on exports. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #metals #industry #India #export #import #markets #iron #ore #mining

In January-July 2024, the European Union increased imports of Ukrainian mining and metals products by 4% year-on-year – to 10.21 million tons. Steel raw materials accounted for the bulk of imports – 9.37 million tons. Thus, Ukraine is an important supplier of metals and mining products to the European market. At the same time, there are prospects for an increase in volumes if Russian imports are abandoned in favor of Ukrainian products, as local steel mills have the ability to increase production if demand is appropriate. Read more here🔽 https://lnkd.in/djhvHQhk #GMKCenter #Ukraine #steelmakers #steel #EU #Europe #metals #mining #import #markets #war #pipes #iron #ore #pigiron #ferroalloys #scrap

China’s steel demand from the real estate industry could rise if Beijing continues measures to support it. It could also improve outside that sector. Significant stimulus measures recently announced by the authorities have boosted prices of key steel products. The trend has so far persisted, even amid debate over whether Beijing’s recent moves are enough. In particular, last week iron ore prices reacted to the announcements, which included lowering interest rates and easing conditions for home purchases. Thus, futures for this raw material on the Singapore Exchange on October 1 closed at $108.24/t, up 15.4% from the previous session. Iron ore prices, the observer notes, have been on a downward trend since reaching $143.6/t in early January 2024. This was mainly due to falling steel output in China amid weak demand from the real estate sector. The question now is whether the latest round of stimulus can make a significant difference to the country’s steel demand situation, or only halt the current decline. It is difficult to argue that this demand from the real estate sector will pick up sharply before the end of this year. However, a recovery is possible in 2025, especially if Beijing continues to implement measures to support the sector. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #markets #prices #China #metals #iron #ore #mining

Global steelmaker ArcelorMittal has raised prices for hot-rolled coils (HRC) in Europe by €40/t to €590/t. The company is firmly committed to the current levels and has withdrawn all offers below €590/t. At the same time, NLMK La Louviere increased prices by about €25/t. Service centers have also responded to the price increases by steelmakers, with one offering a hot-rolled coil at around €605/t for small tonnages. Steel mills have resorted to sharp price increases following the recent announcement of China’s economic stimulus and rising prices for steelmaking raw materials. In particular, the benchmark Argus 62pc Fe ICX iron ore index reached $109.35/t on October 1, up from $88.7/t as of September 23. At the same time, coking coal in Australia rose by $18.7/t, to $204.3/t FOB. Steel producers point to improved demand from service centers, which may indicate that the market has reached the bottom. In addition, the automotive industry is expected to see a technical recovery in the first quarter of 2025 after a long stagnation. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #metals #markets #prices #EU #Europe #HRC #ArcelorMittal

Stanislav Zinchenko, CEO GMK Center took part in the MENA GREEN STEEL SUMMIT with a presentation about the future supplies of green steel, in his presentation he also highlighted the role of Ukraine as a potential supplier of green steel and raw materials for its production in the EU!

Join the China Steel Industry Summit for 2025 Market, which will take place on November 1-3, 2024 in the city of Nanjing (China). The main focus of the forum will be on issues of dynamics and challenges in the markets of steel, ore, coal and coke. The conference’s special forums will address the following topics: • Innovation in Steel Supply Chain Models • Industrial Financialization and Risk Management • Macroeconomic Situation and the Steel Market •  Discussion on Raw Material Market Trends and Structural Issues • Low-Carbon Environmental Protection, Structural Adjustment, and Model Innovation Media partner of China Steel Industry Summit for 2025 Market – GMK Center. The detailed program of the conference is available here🔽 https://lnkd.in/d9xF3Sri #GMKCenter #Ukraine #steelmakers #steel #China #event #conference #industry #markets #summit #export #import #metals #mining #iron #ore #coal #coke #scrap #globalsteel SteelHome Shanghai SteelHome

Metallurgical startup Stegra (formerly H2 Green Steel), the Port of Narvik and Kaunis Iron, which operates an iron ore mine in Pajala, Sweden, have signed an agreement to explore the possibility of building a pelletizing plant. As part of the project, the partners aim to create sustainable pellet production. Construction of the plant should begin in 2027, and its launch is expected in 2030. It is planned to be located on the territory of the former airport in Narvik, next to the current Narvik port. As noted, this agreement (memorandum of understanding) is one of the ways Stegra is considering for long-term local supply of DR pellets, which will further reduce the climate footprint of the plant in Boden, where the company will produce green steel. “In the long term, we expect to see an increased demand for DR pellets as the global steel industry goes green. Through this collaboration, Stegra looks forward to exploring opportunities with our partners, Narvik Municipality/Narvik Port and Kaunis Iron, to secure a potentially strong local supply of DR pellets,” said Louise Orré, Chief Procurement Officer at Stegra. According to Kaunis Iron, this facility will also contribute to regional growth and strengthen the international supply chain, which in turn will ensure the company’s long-term sustainability. Currently, Kaunis Iron exports approximately 70% of its products to Asia, with shipping costs accounting for a significant portion of the final price. “Establishing a pelletizing facility in the Nordic countries represents a strategic opportunity for Kaunis Iron. It will ensure a stable supply chain for our customers, optimize logistics and reduce our carbon footprint. In addition, the demand for DR pellets in Europe is expected to grow. Thus, this project supports the entire European steel industry,” said Kaunis Iron CEO Klas Dagertun. The project is currently at an early stage of evaluation. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #EU #Europe #iron #ore #DRI #Sweden #Stegra #project #pellets #greensteel

Australia has cut its forecast for coking coal exports for the 2024/2025 fiscal year (ending in June 2025) to 161 million tons amid a decline in production of this raw material. In the previous, June forecast of the department, the expected export volume for the period was 172 million tons. In 2025/2026, coking coal supplies abroad are expected to increase to 175 million tons. The Department notes that the production of this raw material in the country has been negatively affected by a number of events. The department refers to incidents at the Broadmeadow East (Bowen Coking Coal), Byerwen (QCoal) and Bowen Basin Grosvenor (Anglo American) mines. After an underground fire at its mine in June this year, Anglo American lowered its metallurgical division’s production forecast for the second half of 2024 by 1-1.5 million tons. As noted, India and Japan remain the key export destinations for Australian coking coal. At the same time, shipments are relatively stable for both countries. Demand for this raw material is expected to remain relatively high over the forecast period due to a diverse customer base and premium supply. According to the department, coking coal prices fell from $233/t at the beginning of July this year to $195/t at the end of August. Prices are expected to average $200/t by 2026. Significant price fluctuations are expected throughout the forecast period. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #prices #markets #export #import #forecasts #cokingcoal #coal #Australia