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voda 4 november 2014 16:53

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Yusco cuts stainless steel prices for November

Yieh United Steel Corporation, the largest integrated stainless steel mill in Southeast Asia, has announced to cut its domestic prices for stainless steel products for November.

It’s learned that Yusco decided to cut its domestic prices for 300 and 400 grades stainless steel products by TWD 4,500 to TWD 5,000 per tonne and TWD 500 per tonne respectively for November. At the same time, it cut its export prices by USD 150 per tonne.

Yusco indicated that it decided to reduce price in order to reflect lower raw material prices and fierce price competition against the low-priced imports.

Source - www.yieh.com

voda 5 november 2014 16:33

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Stainless steel imports from China to double in 2014 - ISSDA

According to the Indian Stainless Steel Development Association, the pressure on domestic stainless steel manufacturers will intensify with imports from China expected to double to 0.25 million tonnes in 2014.

Mr NC Mathur President ISSDA said that “We had been tracking the production and supply on a monthly basis, and in July, August and September, the production in China was an average 1.8 million tonne against a consumption of 1.3 million tonne.”

This results in an average surplus of 0.5 million tonne a month, which would mean China would have a surplus of 3 million tonne in (the H2 of) 2014.

Mr Mathur said that “Last year, they exported 0.13 million tonne to India while this is expected to increase to 0.25 million tonne.”

Domestic stainless steel manufacturers have an installed capacity of 5 million tonne a year, but are operating at less than 50 per cent capacity, producing only about 2.7 million tonne a year. Demand for stainless steel in India is around 2.4 million tonne.

He said that “All we are asking for is a level-playing field. The Government can either increase the import duty on finished stainless steel products to 12.5% from 7.5% currently or reduce the import duty on our raw materials to zero from 2.5% now.”

He added that the Government’s Make in India campaign and plans to build smart cities could lead to additional demand for stainless steel.

He further added that “Although we are among the top markets for stainless steel globally, our per capita consumption is still 2 kg against a world average of 6 kg. There is a lot of scope for increasing the per capita consumption.”

Source – Business Line

voda 6 november 2014 17:03

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Indian stainless steel capacity to reach 5.46 million tonne by 2023 - Study

A study by Indian Stainless Steel Development Association (ISSDA) suggests, Indian stainless steel consumption is expected to grow at a healthy pace to reach around 5.46 million tonne by 2023.

Significantly, India, is quite self sufficient in cold rolled and hot rolled stainless steel products with large capacity addition by SAIL, Jindal Stainless and BRG Group. The overall cold rolled capacity is around 1.525 million tonne, which is sufficient to meet the projected demand until 2018.

However, interestingly, the per capita consumption at 1.9 kg is still much lower than world average of almost 4.85 kg.

ISSDA, which turned 25, said in a recent study, “The Indian stainless steel industry has been steadily growing with a record CAGR of 11.5% over the last 10 years. Today, the stainless steel melt production has touched 3 million tonne, including both flat and long products, making India the third largest producer of stainless in the world with capabilities of competing with major stainless steel producers like China, Korea, and European Union and Japan. Today the world of stainless steel is keenly watching the developments in the stainless steel sector in India.”

The ISSDA study said that in case of hot rolled products, India, at present, has a capacity of 3.55 million tonne, which is sufficient to meet projected demand until 2020. The mother plants in the country also support downstream industries producing utensil grade sheets, welded pipes drawn wires, bright bar, forging units, fasteners etc.

Industry officials said that India is today capable of producing all grades, widths and thickness of stainless steel - plates, coils, bars and rounds with other downstream products like welded pipes, seamless tubes, mother hollows, forgings, fasteners etc.

Source – My Digital FC

voda 6 november 2014 17:04

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TATA Steel to make Gopalpur ferrochrome plant wind resistant

Business Standard reported that TATA Steel would incur an additional investment of INR 20 crore towards construction of its proposed ferrochrome plant near Gopalpur to enable the unit to withstand wind speed of 250-300 km per hour.

Mr Arun Misra, vice president of TATA Steel's Gopalpur project, said that “We have decided to invest INR 20 crore more to make the ferrochrome plant's construction stronger so that it can endure wind speed of up to 300 km per hour.”

Mr Misra said that “Keeping in view the successive cyclones that have hit the area, we have designed the plant to withstand high wind-speed”.

The Gopalpur area, off Ganajm coast in southern Odisha, is identified as a cyclone prone zone. Phailin, the very severe cyclonic storm made landfall near Gopalpur on October 12th 2013. Exactly a year later, another severe cyclonic storm, Hudhud struck the coast of Andhra Pradesh near Visakhapatnam and also affected Gopalpur.

Source – Business Standard

voda 6 november 2014 17:10

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Global crude stainless steel production to hit another all time high in 2014 - MEPS

Scrap Register reported that global crude stainless steel production is predicted to reach an all time high of 41 million tonnes in calendar year 2014. This represents a 7.8% increase on the previous record figure, set last year.

MEPS International said that amongst the established stainless steelmaking regions, total output for 2014 is forecast to be higher than last year in the EU, United States, Japan and Taiwan but lower in South Korea. Production in all these countries remains below the peak figures recorded in 2006.

Chinese output continues on a steady, upward trend. The proportion of the world’s stainless steel made in China has increased from 18.5% in 2006 to an estimated 51% in 2014. Demand in the EU has been strong during the summer but has now begun to slow. Nevertheless, YoY output is forecast to grow by 6.4% to 7.6 million tonnes in 2014.

The economic recovery in the United States continues to gather pace. Stainless steel production is expected to total 2.2 million tonnes in 2014 – 8.4% more than last year.

Japan’s 2014 outturn is foreseen at 3.375 million tonnes, representing a healthy, YoY increase of 6.3%. Another disappointing result is anticipated for South Korea. The 2014 total is likely to be 1.6% less than last year’s figure.

Source - Scrap Register

[verwijderd] 7 november 2014 10:02

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Rabo: Aperam is goedkope uitblinker

Aperam heeft een beter dan verwacht derde kwartaal achter de rug. Het bedrijfsresultaat (ebitda) van 137 miljoen dollar overtrof de gemiddelde raming van analisten, mede dankzij een bate van 10 miljoen dollar uit de verkoop van overtollige elektriciteit in Brazilië.

De bank ziet de roestvrijstaalfabrikant als een goedkope uitblinker omdat het bedrijf op de beurs verhandeld wordt voor 5 keer de verwachte ratio tussen de ondernemingswaarde en de ebitda. Bij concurrenten als Outokumpu en Acerinox is dat 7 keer.

Rabobank was enthousiast over de operationele verbetering van Aperam in Brazilië. Daar nam het bedrijfsresultaat exclusief de elektriciteitsverkoop met ,,een paar miljoen'' toe. In Europa daalde het bedrijfsresultaat ,,slechts'' van 66 miljoen dollar in het tweede kwartaal tot 55 miljoen dollar.

voda 8 november 2014 15:34

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Indian Stainless Steel Development Association Completes 25 Years

Indian Stainless Steel Development Association (ISSDA), the association representing the 145 stainless steel producers in India, announced today that it has completed 25 successful years of formation, at a grand conference in Delhi to commemorate this event.

Present on the occasion were Mr Syedain Abbasi Joint Secretary Ministry of Steel, Mr Rattan Jindal CMD of Jindal Stainless Limited, Mr. Tim Aiken President of Nickel Institute, Mr Subhrakant Panda President of ICDA, Mr Markus Moll Managing Director of SMR and Mr. NC Mathur President of Indian Stainless Steel Development Association

The event was the culmination of an enormous collective effort which began in 1989 when the stainless steel industry was in nascent stage. From just a humble beginning, ISSDA has been persistently working to bring about substantial changes in this industry; as a result, today the domestic industry has grown from of miniscule capacity of 18 thousand tons in 1978 to nearly 2.5 million tons today.

During the event, the speakers raised the concern of rising import and dumping of Stainless Steel in India, which is affecting the domestic industry in a big way.

Mr. Rattan Jindal said, “As imports already control over 40 % of the domestic market and quarter by quarter dumping from countries like China and FTA countries continue to increase. The result of this surge is that today domestic industry which has installed capacity of around 4.5 million tones is operating at just 55 % of its capacity and is struggling for its very survival. Today more and more capacities are coming up for tubes and pipes in countries such as Indonesia, Malaysia and Taiwan, implying that we can expect more dumping to happen in India in days to come. The various leading producers of the domestic stainless steel industry raised a concern on the fact that from being a net importer of stainless steel in 2009, today China is the world’s biggest exporter of Stainless Steel and we need to be wary. Unlike India, China is enjoying benefit of low interest rates, cheap power and other governmental subsidies and support along with lenient environmental laws and zero import duty on inputs. This has given them a huge competitive advantage over other nations “

He added “I urge the government to immediately upgrade the facilities at our ports so that such things do not get repeated. Moreover, I feel there is an urgent need to establish mandatory standards in stainless steel just as there is in steel. The imbalance in duty structure other policy related issues like removal of import duty on input material like nickel and SS scrap which are not available in the country need to be highlighted. Also, existing FTA and RCEP have created needs to be explained to the government and a way out needs to be looked at.”

Mr NC Mathur added “India is today capable of producing all grades, widths and thickness of stainless steel. Industry produces plates, coils, bars and rounds with other downstream products like welded pipes, seamless tubes, mother hollows, forgings, fasteners etc and we are expecting a Hugh growth in the domestic production on account of ART (Automobile, Railway and Transport) and ABC (Architecture, Building and Construction) sector.

Source – Strategic Research Institute

voda 10 november 2014 16:25

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Raising import duty on stainless steel finance ministry's call - Steel ministry

PTI reported that the while Indian steel ministry has pitched for a duty hike to safeguard domestic stainless steel industry from Chinese imports, but a final call in this regard will be taken by the finance ministry.

Acknowledging problems of domestic stainless steel industry on account of rising imports, a senior steel ministry official said that a call on raising import duty to the optimum 10% level would be taken by the finance ministry.

Mr Syedain Abbasi, Jt Secretary, Ministry of Steel, said that "In terms of duty structure (on imports of stainless steel), the higher one can go is 10% in this country because that is the decision taken at the WTO. Beyond that, we will not be able to do. We are already at 7.5%. I don't know what the final view the Finance Ministry will take."

Mr Abbasi said that "If it does, that will give some protection from China. But we must remember that as far as South Korea and Japan are concerned, we have FTAs and there the duty structure will be at zero. So that competitive pressure will continue."

Reeling under severe capacity under-utilisation, domestic stainless steel makers, with a cumulative 5 million tonnes per annum capacity, received a breather in the last Budget as the government raised import duty on flat-rolled products from 5% to 7.5%. The industry now wants that raised further to 10%.

Source - PTI

voda 10 november 2014 16:34

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Stainless crude steel production by major SUS mills in Sept was 304,514 tonnes - TEX

TEX reported that the stainless crude steel production by 6 major stainless steel mills in September 2014 was 304,514 tonnes, up by 8.4% from 280,821 tonnes of the prior month. This also represented an increase of 4.7% versus the year earlier month (290,805 tonnes).

In September, the production made a recovery from the decreased production in the summer time and the production volumes of the major stainless steel mills other than Nippon Steel & Sumikin Stainless Hikari (NSSC, Hikari) were up from the prior month.

Source - The TEX Report

voda 11 november 2014 16:41

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Indian stainless steel industry operating at 50pct on Chinese imports

Business Standard reported that the operating capacity of India's stainless steel industry has declined to 50% due to cheap imports from China and other Free Trade Agreement (FTA) countries.

The capacity has drastically come down in the last 6 to 7 months as imports from China, Taiwan and Korea have shot up by 150%.

According to Indian Stainless Steel Development Association, India's stainless steel imports have gone up to around 40% of the country's consumption of around 2.5 million tonne. Until the last financial year, total imports from all countries combined was 100,000 tonne. But total imports from China alone have shot up to 250,000 tonne in the first half of the current financial year.

Mr NC Mathur president of ISSDA said that "Imported stainless steel constitutes around 40% of India's stainless steel consumption of which the Chinese share stands at 25%."

Mr Mathur said that "The Chinese government protects its local industry. We cannot import raw materials from China due to higher duty. So we have to import finished products at the expense of the local industry. We want similar duty protection to prevent units from closing down."

With crude stainless steel production at 3 million tonne, India ranks as the third largest producer and second largest consumer of stainless steel. The market for 2013-14 was at 2.5 million tonne of which flat products accounted for approximately 2 million tonne. With a low per capita consumption of 2.1 kg there lies a huge potential for future growth but slowdown in sectors such as infrastructure, railways, seaports, airports, highways, and bridges etc. have been major obstacles.

Source – Business Standard

voda 13 november 2014 19:44

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Turkish stainless flat steel imports up 9.1pct in Jan-Sept - TUIK

According to the data provided by the Turkish Statistical Institute, in September this year, Turkey's stainless flat steel imports decreased by 13.35% YoY and by 20.68% compared to August, amounting to 36,132 tonnes.

The value of these imports in September was USD 85.36 million, decreasing by 11.01% YoY and by 19.39% compared to August.

Meanwhile, in the January-September period of the current year, Turkey's stainless flat steel imports amounted to 382,732 tonnes, increasing by 9.1% with a value of USD 852.13 million, up 2.11% both YoY.

In the first nine months of this year, Turkey's stainless flat steel imports from Taiwan, which ranked as Turkey's top import source for the products in question in 2013, decreased by 37.69% YoY to 45,541 MT. In the given period, South Korea was Turkey's leading import source for stainless flat steel, supplying 100,928 MT, up 68.81% YoY.

China followed South Korea, with its stainless flat steel exports to Turkey in the given period increasing by 128.7% YoY to 75,173 MT. Meanwhile, in the given period Turkey's stainless flat steel imports from Italy increased by 64.46% YoY to 50,223 tonnes. In September alone, Turkey's biggest stainless flat steel source was South Korea, which supplied 9,033 MT.

Source -Visit www.steelorbis.com for more

voda 13 november 2014 19:45

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Nickel rises most in two weeks on Colombia supply concern

Bloomberg reported that nickel rose the most in two weeks as workers at a BHP Billiton Plc mine in Colombia threatened to go on strike, spurring supply concerns.

The union said that employees opposing the extension of work shift to 12 hours from eight hours may walk out if the Colombia ministry of labor does not intervene. A nickel supply deficit may widen to as much as 107,000 tonnes next year after Indonesia banned shipments of unprocessed ores in January.

Mr Michael Turek, a senior director at Societe Generale’s Newedge Group in New York said that “The metal climbed due to labor unrest at some mine facilities.”

Source – Bloomberg

voda 13 november 2014 19:47

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Indonesia's PT Antam Q3 nickel output up

Indonesia’s PT Antam Tbk said that the company produced 4,131 tonnes of nickel in the Q3 increasing slightly by 0.1% from 4,127 tonnes in the same period of last year.

During the first nine months, the company produced 11,710 tonnes of nickel, down by 18.1% compared to the same period of last year.

The company’s nickel ore output totaled 366,000 wet tonnes in the third quarter, plunging by 85.5% YoY. Sales of ferro nickel totaled 3,920 tonnes dropping by 11.6% compared to the same time a year ago.

Source - www.yieh.com

voda 13 november 2014 19:48

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China raises crude stainless steel output in Jan-Sep - CSSC

According to the Stainless Steel Council of the China Special Steel Enterprises Assn, China’s crude stainless steel output soared by 17.4% to 2.37 million tonnes in the first three quarters compared from the same time a year ago.

The country produced 8.23 million tonnes of 300 series crude stainless steel, up by 19.64% compared from the same months of last year. Output of 400 series crude stainless steel totaled 3.41 million tonnes, soaring by 17.88% on yearly basis.

Besides, the country’s output of 200 series crude stainless steel reached 4.37 million tonnes, increasing by 13.19% from the same time of last year.

Source - www.yieh.com

voda 14 november 2014 15:26

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Global stainless steel flanges facing production cuts

Reportedly, all the countries in the world are cutting stainless steel flanges, which mean not only China’s steel industry is facing with complicated situation, but also global steel industry has to deal with various problems.

The slowing down economic growth subdued stainless steel flanges demand, which is the prime problem of world stainless steel flanges.

Some optimists hold different views. They point out that stainless steel flanges price will be supported by raw materials costs. They deem that world stainless steel flanges production will present upward trend again.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 14 november 2014 15:33

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Nickel's warning price boom leaves BHP with unwanted mines

Bloomberg reported that the failure to find a buyer for its Australian nickel business has left BHP Billiton Limited with unwanted smelters and pits after the collapse of a price boom.

The metal reached a two year high on May 13, a day before the world’s biggest miner outlined a plan to sell all or part of the unit. Since then, the price has declined 27%.

Nickel West, which includes mines, concentrators, the Kalgoorlie smelter and Kwinana refinery, didn’t attract a suitable bid.

Mr Ivan Glasenberg CEO of While Glencore Plc said that earlier his company planned to examine Nickel West and would be kicking its tires no acceptable offers were made.

The biggest miners have found some units more difficult to divest as they trim portfolios amid lower commodity prices. Rio Tinto Group, the second largest, halted work last year to try and sell its diamond unit after failing to find a buyer.

BHP said that the nickel unit will remain within the company’s main portfolio, after CEO Mr Andrew Mackenzie signaled it wouldn’t be included in a planned spinoff next year of smaller assets. The division doesn’t fit with either BHP’s core businesses, or operations, which will form the proposed new company.

Sales of assets worth AUD 3.3 billion, from copper to diamond mines, have been completed by BHP in the past two years, according to data compiled by Bloomberg. The producer is currently seeking a buyer for its Fayetteville shale-gas assets in Arkansas.

Nickel has fallen for two consecutive months as increased ore supply from the Philippines has helped to avert a shortage after Indonesia, the largest mined producer, banned exports of unprocessed ores in January.

Mr David Lennox, a Sydney based resource analyst at Fat Prophets said that “Caution from potential buyers is understandable given the outlook for the metal. Suitors may also have been wary after a decade long AUD 619 billion investment spree led to asset writedowns and management clear outs.”

Source – Bloomberg

voda 17 november 2014 15:29

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Taigang Stainless remains stainless steel prices flat for Nov

Taigang Stainless, the largest stainless producer in China announced to remain its domestic prices for stainless coils unchanged for November.

Also, the company has kept its stainless steel coil prices unchanged for consecutive seven months.

After the announcement, its prices for 304 grade hot rolled coils with thickness of 3 mm to 12 mm are at CNY 1,900 per tonne those for 304 grade cold rolled coils with thickness of 2 mm are at CNY 19,900 per tonne.

Meanwhile, Taigang Stainless also remained its prices for 430 grade cold rolled coil with thickness of 2 mm unchanged at CNY 10,700 per tonne.

Source - www.yieh.com

voda 18 november 2014 17:00

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BHP Billiton update on Nickel West business

BHP Billiton announced a review of its Western Australian Nickel West business, comprising the Mt Keith, Cliffs and Leinster mines and associated concentrators, the Kalgoorlie smelter, the Kambalda concentrator and the Kwinana refinery.

This review is now complete and the preferred option, the sale of the business, has not been achieved on an acceptable basis. The Company will only pursue options that maximise value for shareholders.

At this time, Nickel West will remain in the BHP Billiton portfolio as a non core asset and the Company will continue to operate the business to realise its full value.

Mr Paul Harvey President of Nickel West Asset said that “The focus of Nickel West will remain on delivering safe and efficient production whilst pursuing every opportunity to maximise productivity, to reduce operating costs and increase free cash flow.”

Source – Strategic Research Institute

voda 18 november 2014 17:02

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Russian exports of stainless steel in Q1-Q3 2014

According to SpetsStal's latest appraisal, the volume of Russian stainless steel exports from January to September 2014, if compared to the equal period of 2013, fell 65.3% to 6,927 tonnes.

In particular, exports of stainless steel flats decreased by 32.0% to 1,476 tonnes, longs by 21,4% to 3,353 tonnes, wire by 21 tonnes welded tubes by 68,9% to 1,321 tonnes and slabs and ingots by 94,3% to 682 tonnes.

Exports of STS seamless tubes rose by 4,7% to 1,321 tonnes.

Source - USSA

voda 18 november 2014 17:09

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Customs Union cancelled import tax on Ukraine seamless SS tube

According to the spokesman of Ukraine Ministry of Economy and Trade, Customs Union cancelled import tax on Ukraine seamless stainless steel tune from November 1st 2014.

Given this, Ukraine’s exports to Russia, Belarus and Kazakhstan are not subject to quota restrictions any more. Customs Union earlier levied 9.9% tax and implemented quota restrictions on Ukraine seamless stainless steel tube since 2012.

Source - www.steelhome.cn/en
China steel information centre and industry database

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