| Export and Import Levels | ||
| Russian steel prices rise as stockpiles decline - Report - 27 Jan, 2012 | ||
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Bloomberg quoted Metal Bulletin data shows that Russia export steel prices started to recover in January as stockpiles declined. The price for hot rolled coil a benchmark, increased for the first time since the end of October. It reached USD 625 per tonne last week, compared with a 12 month low of USD 577 in December. The price peaked at USD 790 per a tonne in February. Ms Anastasia Gracheva a Moscow based UBS analyst said -The demand is healthy as steel stockpiles were low and even the European market is feeling better.- She expects prices to climb by as much as 10% in the first quarter compared with the end of 2011. (Sourced from Bloomberg) Global HRB prices on an uptrend The bi monthly SteelBenchmarkerTM Western European HRB price for January 23rd 2012 rose by 2.6% to USD 662 per tonne, ex works, for the second consecutive time. The World export HRB price rose by 2.2% to USD 643 per tonne, FOB the port of export, for the fourth consecutive time. The United States HRB spot price rose by 1.7% to USD 816 per tonne, FOB the mill, for the fifth consecutive time. The Chinese HRB ex works price increased by 0.4% to USD 560 per tonne, after falling last time. USA USD 816 per tonne, FOB the mill Up by USD 14 per tonne from USD 802 two weeks ago Up by USD 107 per tonne from the recent low of USD 709 on November 14th 2011 Down by USD 154 per tonne from the recent high of USD 970 on March 28th 2011 Down by USD 387 per tonne from the record peak of USD 1,203 on July 28th 2008 China USD 560 per tonne, ex works Up by USD 2 per tonne from USD 558 two weeks ago Up by USD 78 per tonne from the recent low of USD 482 on July 12th 2010 Down by USD 77 per tonne from the recent high of USD 637 on August 22nd 2011 Down by USD 173 from the record peak of USD 733 on July 14th 2008 Western Europe USD 662 per tonne, ex works Up by USD 17 per tonne from USD 645 two weeks ago Down by USD 6 from the recent low of USD 668 on November 22nd 2010 Down by USD 190 per tonne from the recent high of USD 852 on March 28th 2011 Down by USD 542 from the record peak of USD 1,204 on July 14th 2008 World Export Price USD 643 per tonne, FOB the port of export Up by USD 14 per tonne from USD 629 two weeks ago Up by USD 31 per tonne from the recent low of USD 612 on November 28th 2011 Down by USD 130 per tonne from the recent high of USD 773 on February 28th 2011 Down by USD 470 per tonne from the record peak of USD 1,113 on July 28th 2008 Ferrous scrap price partially below JPY 30000 a tonne in Nagoya and Osaka JMB reported that Japanese ferrous scrap market price has decreased in January 2012 and partially represented below JPY 30,000 per tonne for H2 around Nagoya and Osaka. Scrap dealers have accelerated inventory shipment along the market price down. Another background is that South Korean scrap importers entered Chinese New Year holidays and new export contracts turned temporarily slow. Tokyo Steel Manufacturing, Japanese largest electric furnace steel maker, implemented ferrous scrap price cut on January 18th 2012, January 20th 2012 and January 21st 2012. Other electric furnaces followed the price cut around Osaka and Nagoya. On the other hand, most electric furnaces around Tokyo maintained the purchase price. One dealer source indicated ferrous scrap market price might become higher in East Japan than in West Japan. Around Tokyo, electric furnaces purchase H2 at JPY 30,500 to JPY 31,500 per tonne. Some steel makers reduced the price by 500 yen at the weekend while most makers left the price unchanged. Local steel makers' scrap consumption seems flat. However, scrap dealers' shipment is decreasing for West Japan and then dealers tend to increase scrap sales to exporters around Tokyo Bay. Export market price grows stagnant while steel maker's scrap inventory maintains high. One scrap dealer suggested the market price is edging downward. Around Nagoya, local steel makers have lowered scrap purchasing price by JPY 3,000 for H2 and by JPY 4,000 for new cutting scrap since the yearend. The latest purchasing price became below JPY 30,000 for H2, the lowest level in two months. Around Osaka, local steel makers pay JPY 29,000 to JPY 29,500 for H2 and some pay as high as JPY 30,000. The market price turned back to the level as low as in early December 2011. (Sourced from www.japanmetalbulletin.com) Plate steel market price could decrease more in Tokyo It is reported that plate steel market price is JPY 85,000 per tonne for standard sized products with 19 millimeters thick, 5 feet width and 10 feet length at the dealers' selling price around Tokyo. The price is JPY 96,000 to JPY 97,000 for cut processed plate. The price could decrease more due to slow demand. Tokyo Steel Manufacturing left the plate price unchanged at JPY 65,000 per tonne for February 2012 order. With the price freeze, the dealers expect the price could be stable after continuous downward. The dealers' market price decreases for domestic products from electric furnace steel makers and integrated steel makers and imports. Tokyo Steel's move could support the market but the price has no power to rebound. Some dealers are willing to increase the purchase volume from the makers but many of them are reluctant to increase the volume. A dealer source said lower ferrous scrap price could result in additional lower makers' selling price. The dealers' margin could narrow despite of the higher demand for rebuilding activity on the major earthquake. (Sourced from www.japanmetalbulletin.com) Nickel series stainless cold sheet price levels off in Tokyo JMB reported that nickel series stainless cold rolled sheet market price levels off at JPY 290,000 per tonne for SUS 304 around Tokyo. Dealers are in wait and see mood when nickel price is surging. The market price trend seems upturning. One dealer source said that Nippon Steel & Sumikin Stainless Steel is expected to raise the sales price by JPY 15,000 per tonne for February 2012 contracts. The dealer started to increase the inventory in January 2012 though the dealer had reduced the inventory widely. Small middle lot orders are recently increasing at dealers for building materials. Another dealers' official showed an expectation for the selling price upturn. Many dealers aim to secure moderate sales volume toward the fiscal yearend in late March 2012 and maintain the profit ratio by the price improvement. (Sourced from www.japanmetalbulletin.com) Aluminum scrap dealer to seek higher price in Tokyo Aluminum scrap market price shows sign to increase around Tokyo. The dealers will offer higher price to the users at talk to set the price for H1 of February when primary aluminum ingot price increases at London Metal Exchange. The local demand is still slow and the users' appetite is low around Tokyo. A source said aluminum scrap could be oversupply in spring if the demand would keep slow. The scrap dealers start the talk next week. A dealer said with the upward trend in aluminum market, the scrap could increase by JPY 5 per kilogram for all grades. Japanese primary aluminum ingot price increased by JPY 10 from the end of December to reflect higher LME price. However, other scrap dealer said that the talk would result in same price level due to the slow demand. The high grade scrap demand is slow when the buyers of light metal rerollers keep the purchase volume low level. The rerollers increase import of lower priced primary aluminum. A trading firm source said that the high grade scrap is completely buyers market when the rerollers don't need high grade scrap. The low grade scrap demand also decreases. A major alloy maker around Tokyo seeks JPY 90 per kg for alloy turning scrap which is around JPY 10 lower than current market price. A dealer said that the low price indicate the alloy maker has no intention to purchase the scrap now. Other alloy makers also reduce the purchase volume when cheaper Chinese AD12.1 metal is available. (Sourced from www.japanmetalbulletin.com) Japanese copper price indicator raised to JPY 680000 per tonne JX Nippon Mining & Metals announced the firm raised its electrolytic copper selling price, the indicator for copper related product prices in Japan by JPY 10,000 per tonne to JPY 680,000 per tonne for domestic shipment in January. The latest revision reflected overseas copper market price upsurge and the ingot price hit the highest in four months. The monthly average would be JPY 657,300 without any more revision within January. The monthly average estimation rose by JPY 3,100. Copper settlement price at London Metal Exchange was USD 8,333 per tonne on January 23rd 2012. The settlement represented higher by USD 148 than the settlement along which JX Nippon Mining & Metals had previously revised its ingot selling price. Japanese major indicator hit JPY 680,000 for the first time since September 2010. The price hit the yearly lowest at JPY 560,000 in October when overseas copper market price declined along European financial crisis as well as economic slowdown in the USA and China. Current copper market involves a concern on European financial crisis while the market price is pushed up by an expectation for economic improvement in the USA and China. LME copper price returned to USD 8,000 on January 16th 2012 the highest level in two and a half months, and maintains strong tone. Then Japanese indicator rebounded by 21% from the yearly bottom in 2011. (Sourced from www.japanmetalbulletin.com) | ||
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 | Iranian steel market trend in week 07 2012 - Long products | |
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| GMS weekly report on Pakistan ship breaking industry for WEEK 07 2012 | |
