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1. [verwijderd] 9 juni 2015 08:18

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2. voda 9 juni 2015 16:36

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   SAIL to reach 50 million tonne steel production by 2025 - Minister
   
   Business Standard reported that the Indian government is aiming at scaling the steel output at Steel Authority of India Limited to 50 million tonnes by 2025 and that expansion plans of other government owned entities are also on the anvil.
   
   Mr Narendra Singh Tomar union minister for mining and steel said "At present, the PSU has a production of 13 million tonnes which would be augmented further to 23 million tonnes by September this year. We are targetting it to take up to 50 million tonnes, with an investment of INR 150,000 crore. In order to achieve a target of producing 300 million tonnes of steel by 2025, a concept of special purpose vehicle has been proposed with state governments of Chhattisgharh, Odisha, Jharkhand and Karnataka."
   
   He said that further expansion of Bhilai Steel Plant with an investment of INR 15,000 crore approximately is on the anvil
   
   Mr Tomar also said SAIL can put up a steel plant of one-million-tonne capacity in economically backward districts of Bundelkhand region like Tikamgarh and Chhatrarpur.
   
   Source : Business Standard
   
3. voda 9 juni 2015 16:39

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   Mr Fabio Riva of ILVA refuses to answer judge's questions
   
   ANSA reported that Mr Fabio Riva, former chief executive at troubled ILVA steel plant in southern Italy, refused to answer a judge's questions Monday morning.
   
   Mr Riva, whose family owned the polluting giant now being administered by the Italian government, was extradited last week from Britain and returned to Italy on Friday.
   
   Police allege environmental crimes and fraudulent bankruptcy against Riva, after the ILVA plant was blamed in high cancer levels in the area around the plant. It has been one of the region's top employers.
   
   Source : ANSA
   
   

   Bijlage:
4. voda 9 juni 2015 16:40

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   Radioactivity found at Heathrow in utensil shipment from India
   
   Press Trust of India reported that radioactively contaminated steel is a new cause for concern for manufacturing in India. An ironical steely paradox for Indian metal recyclers, on occasions steel products made in India are rejected at foreign ports of entry as they show up as a radiation hazard.
   
   Recently a shipment of utensils from India was confiscated at the Heathrow Airport in London as one of the packets exhibited high levels of radiation. This causes huge discomfiture for India’s steel manufacturing sector and bad name for the country.
   
   The Indian origin importer, a UK-based restaurant owner, is now running from pillar to post to avoid being penalised and battles an expensive litigation for what is really no fault of his. The original manufacturer of the utensils is currently untraceable.
   
   Source : PTI
   
5. voda 9 juni 2015 16:42

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   Indian steel prices may stay under pressure in 2015-16 - Moody's
   
   Press Trust of India reported that ratings agency Moody's said that steel prices in India are expected to remain under pressure in the current fiscal, but the demand is expected to pick up with an uptick in commercial vehicle sales.
   
   Moody's Senior Analyst Mr Kaustubh Chaubal told PTI “We do not foresee steel imports coming down anytime soon and so there may be pressure on the prices in 2015-16 fiscal, but the worse for Tata Steel and JSW Steel is over. Subdued domestic demand and rise in imports from China, Russia and Korea had exerted pressure on steel realisations in the last fiscal.”
   
   However, Moody's expects steel demand to pick up in 2015-16 on the back of an uptick in commercial vehicles sales, particularly the medium and heavy commercial vehicles (M&HCV). He said "We expect the uptick in activity in the M&HCV segment to continue and if you look at the light commercial vehicles' space, the de-growth is now coming down, which is also a good sign. LCV market may turn in the second half of this fiscal. These aspects will help steel demand.”
   
   Moody’s added “Besides, declining prices of iron ore and cooking coal as well as the government's decision to resume mining will aid in reducing pressure on the companies. While we expect steel prices to remain under pressure, we believe that the cut in domestic iron ore and coking coal prices will aid in easing pressure on margins. NMDC, for instance, revised its iron ore prices downwards by INR 500 per tonne in April 2015. Furthermore, restarting of iron ore mining activities in Karnataka and Odisha will also help in a correction to iron ore prices.”
   
   Source : Business Standard
   
6. voda 9 juni 2015 16:47

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   TATA Steel UK urges workers to think about the consequences of strike
   
   Scunthorpe Telegraph reported that TATA Steel has issued a statement urging its Scunthorpe workers to 'think about the consequences' of industrial action after unions announced they will go on strike on Monday June 22.
   
   A Tata Steel spokesman said “We have been trying to develop an affordable and sustainable pension scheme for employees so we are very disappointed by today’s announcement on strike and industrial action. Everyone agrees that changes need to be made to resolve the challenges facing our pension scheme, which has a projected shortfall of over GBP 2 billion. We have over the last few months listened carefully to our employees during an extensive consultation process involving thousands of employees. In response to this feedback, we will soon be announcing new measures which will lessen the impact of the proposed pension changes, particularly on our longest-serving employees nearing retirement age. We hope that these important changes to our proposals will be welcomed by employees and that the trade unions reconsider industrial action. At a time when the UK business as a whole continues to lose money and when key investments are needed to create a sustainable future for our business, we urge the unions and individual employees to think very carefully about the consequences of industrial action.”
   
   Source : Scunthorpe Telegraph
   
7. voda 9 juni 2015 16:49

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   Uganda survey reveals new iron ore deposits
   
   The Ugandan government has announced the discovery of 116 million tonnes of iron ore. The Ministry of Energy and Mineral Development said the deposits were discovered and quantified following a series of recent airborne geophysical surveys.
   
   In its latest review of the country’s mineral sector, the ministry said the new ore reserves were discovered at Buhara (48 million tonnes), Nangara (six million tonnes) and Rugando (55million tonnes); all in south-western Uganda.
   
   The ministry said “More than 200 million tonnes of iron ore are now proven to exist in the region. Vermiculite reserves at Namekhara in eastern Uganda had increased from five million tonnes to 54.9 million tonnes.”
   
   Source : Africanreview.com
   
8. voda 9 juni 2015 16:54

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   Indian steel imports in May touches almost 1 million tonne
   
   India’s steel imports in May surged to about a million tonne , indicating tough times are here to stay for domestic producers facing price pressures and cheap imports from countries such as China, CIS, Japan and Korea even though steel consumption posted a healthy YoY growth to cross 7 million tonnes mark.
   
   Bad News
   As per data by the Joint Plant Committee, India’s steel imports in May 2015 surged by whooping 58% MoM to 0.91 million tonnes. For the first two months of the 2015-16 fiscal, steel imports grew by 54.5% YoY to 1.67 million tonnes as compared to April-May of 2014-15. Incidentally, imports had grown by 71% YoY to 9.32 million tonnes in 2014-15 as compared to 2013-14,
   
   Good News
   India’s steel consumption in May 2015 grew by 6.8% YoY to 7.23 million tonnes. It was up 31.3% MoM against April 2015. Steel consumption saw a growth of 7% in April-May 2015-16 at 12.742 million tonnes over same period of last year. Incidentally, consumption grew by 3.1% in 2014-15 at 76.36 million tonnes over the same period of 2013-14.
   
   Source : Strategic Research Institute
9. voda 9 juni 2015 16:54

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   USW welcomes ITC trade cases filed on corrosion resistant steel imports
   
   The United Steelworkers has expressed its full support for antidumping and countervailing duty petitions filed concurrently with the US Department of Commerce and the US International Trade Commission by six US steelmakers.
   
   Those petitions “detail how a flood of subsidized and unfairly traded corrosion-resistant steel imports from China, India, Italy, South Korea, and Taiwan has damaged the domestic industry by undercutting the prices of U.S. producers over the past three years,” the USW said in a statement released on Wednesday.
   
   USW International President Leo Gerard, for his part, called on the Commerce Department and USITC to act swiftly and decisively in defense of American workers whose jobs are unfairly threatened as a result of the illegal tactics employed by our trade partners. “By any metric, USW members are the most productive and efficient steelmaking workforce on the planet,” Gerard said. “We cannot allow these family supporting, community sustaining jobs to disappear because our competitors continue unfairly dumping their subsidized products on our shores.”
   
   The USW represents some 35,000 workers who produce corrosion-resistant steel at facilities owned by U.S. Steel, ArcelorMittal, and AK Steel, which are among the petitioners seeking relief.
   
   Impacted U.S. Steel facilities include Gary Works and operations in Clairton, Pa., and Fairfield Ala. ArcelorMittal facilities includes operations in East Chicago, Ind., Cleveland, Ohio, and Weirton, W. Va. AK Steel facilities include operations in Ashland, Ky. and Mansfield, Ohio.
   
   Global overcapacity in steel and continued abuse of the system by foreign companies and their governments requires a major overhaul of U.S. trade policy and enforcement, USW International Vice President Tom Conway said. “For decades, American workers have paid the price of failed trade policies and inconsistent enforcement of flawed trade agreements. Congress and the administration need to take responsibility for changing the system that has cost more than a million manufacturing jobs and shuttered thousands of factories, mainly in industries that employ USW members.”
   
   The USW represents 850,000 workers in North America employed in many industries that include metals, rubber, chemicals, paper, oil refining and the service and public sectors. For more information, visit www.usw.org/
10. voda 9 juni 2015 17:00

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    US finished steel imports in Jan-May surge by 20% YoY - AISI
    
    Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of May total 3,432,000 net tons (NT)*. This was a 3% increase from the 3,344,000 permit tons recorded in April and a 1% decrease from the April preliminary imports total of 3,483,000 NT.
    
    Import permit tonnage for finished steel in May was 2,759,000, down 6% from the preliminary imports total of 2,938,000 in April.
    
    For the first five months of 2015 (including May SIMA and April preliminary), total and finished steel imports were 18,636,000 NT and 15,365,000 NT, respectively, up 7% and 20% from the same period in 2014. The estimated finished steel import market share in May was 29% and is 32% year-to-date (YTD).
    
    Finished steel imports with large increases in May permits vs. the April preliminary included standard rail (up 142%), tin plate (up 98%), hot rolled sheets (up 23%), sheets and strip galvanized hot dipped (up 11%), cut lengths plates (up 11%) and hot rolled bars (up 10%). Products with significant year-to-date (YTD) increases vs. the same period in 2014 include line pipe (up 70%), standard pipe (up 42%), heavy structural shapes (up 41%), cut lengths plates (up 35%), reinforcing bars (up 31%), tin plate (up 31%), cold rolled sheets (up 27%), plates in coils (up 26%), sheets and strip galvanized hot dipped (up 24%), hot rolled sheets (up 15%) and sheets and strip all other metallic coatings (up 13%).
    
    In May, the largest finished steel import permit applications for offshore countries were for South Korea (371,000 NT, down 27% from April preliminary, China (306,000 NT up 5%), Japan (203,000 NT, down 10%), Turkey (200,000, down 7%) and Germany (135,000 NT, up 12%). Through the first five months of 2015, the largest offshore suppliers were South Korea (2,760,000 NT, up 28% from the same period in 2014), Turkey (1,410,000 NT, up 85%) and China (1,334,000, up 4%).
12. [verwijderd] 9 juni 2015 17:17

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13. voda 10 juni 2015 16:27

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    Chinese major steelmakers loss CN 2.66 billion Yuan in Jan-Apr – CISA
    
    China’s large and medium-sized steel mills achieved 1027 billion yuan of sales revenue in Jan.-Apr. 2015, down 15.76 percent year on year. The profits tax totaled 19.7 billion yuan, down 8.4 percent compared to that of last year. The combined losses reached 2.66 billion yuan, increasing a loss of 14.54 percent year on year.
    
    Source : SteelHome
14. voda 10 juni 2015 16:30

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    Falling steel prices not enough to change stable outlook for European steelmakers - Moodys
    
    According Moody's Investors Service, low steel prices will hurt profitability, particularly for steelmakers with large US exposure however, volumes output continue to be supported by strong and growing demand from the European car and construction industries, which together account for more than half of the region's steel consumption.
    
    In a report titled "Downward Pressure on Steel Prices not Enough to Change Stable Outlook", Mr Hubert Allemani vice president and analyst for European steel at Moody's said “Despite falling European steel prices, steel used by the automotive industry and for mechanical engineering has been on an upward trend since the end of 2014 driven by better GDP growth prospects. We expect apparent consumption will rise by 1% to 1.5% in 2015.”
    
    He said “Capacity utilisation, one of Moody's European steel outlook driver, has been mostly steady since the beginning of the year. Moody's estimates that capacity utilisation in the EU has been around the 75%-80% range forecasted in the rating agency's September outlook, with a slight improvement for a few companies to levels close to or above 80%. The ratio remains within Moody's range for a stable outlook and is expected to stay at that level in 2015.”
    
    The report said “The average prices for European hot rolled coil (HRC) and cold-rolled coil (CRC) products fell sharply from May 2014 to January 2015 and have since stabilised. However, declining raw material prices, sluggish demand growth outside Europe and high levels of imports from Asia will keep prices under pressure in 2015 with limited recovery prospects.”
    
    Moody's noted that “Iron ore prices (62%Fe) have fallen sharply from highs of USD 135 per tonne in January 2014, dipping to below USD 50 per tonne in April 2015, before rising slightly to current levels of around USD 60 per tonne. The fall is mainly owing to decreasing domestic Chinese steel production combined with increasing output from the major mining companies. Coking coal prices have shown a similar downward trend. In April, Moody's lowered its 2015 expectations for iron ore to a range of USD 40 to USD 50 per tonne based on stable supply/demand dynamics.”
    
    Moody's would move the outlook to negative if the Eurozone Composite Output Purchasing Managers' Index (PMI) falls below 50, which indicates a contraction, for at least three consecutive months and the capacity utilization rate falls below 75%. Conversely, the rating agency would move the outlook to positive if the PMI exceeds 55 for at least three consecutive months and capacity utilization rate rises to more than 85%.
    
    Source - Strategic Research Institute
15. voda 10 juni 2015 16:31

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    POSCO named world’s most competitive steel maker’ for 6 consecutive years - WSD
    
    POSCO has ranked first in the “world’s most competitive steel companies” that are selected by World Steel Dynamics, a global steel market analysis agency, for six consecutive years. As WSD made the list twice in 2010 and 2013, POSCO has ranked No. 1 in the rankings for eight consecutive events.
    
    WSD announced on Tuesday the rankings of 36 steel companies worldwide by evaluating 23 items, including production volume, profitability, technological innovation, pricing capacity, cost cutting, financial soundness, and acquisition of raw materials as of June in New York.
    
    POSCO received high marks due to its activities to boost fundamental competitiveness in steel, including sale of high value-added products and expansion of technology-based solutions, and acquired 7.91 points out of possible 10 points.
    
    POSCO was trailed by Nucor of the US, Nippon Steel and Sumitomo Metal of Japan, Gerdau of Brazil, and Severstal of Russia. Hyundai Steel of Korea ranked ninth this year again after last year.
    
    POSCO Chairman Kwon Oh-joonn is emphasizing solution marketing as way to distinguish itself from rival firms in order to overcome the economic recession. This refers to activities to deliver products that consumers want, and provide technology that customers can most efficiently utilize, and thereby increase the value of products in the end.
    
    A POSCO source said, “Sales in projects that adopted solution marketing targeting industrial customers, including shipbuilding, home electronics, and construction, in the first quarter (January to March) of this year increased 9 percent from the fourth quarter of last year (October – December), while sales of ‘world premium’ product group also gained 8 percent during the same period.”
    
    
16. voda 10 juni 2015 16:33

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    Metinvest update on Revenues from Various Segments and Countries
    
    In 1Q 2015, Metinvest’s consolidated revenues decreased by 38% y-o-y. This was primarily due to a fall in sales of flat (US$329 million) and long (US$230 million) products, iron ore products (US$310 million), semi-finished steel products (US$162 million) and coke and chemical products (US$38 million). The Metallurgical division accounted for 78% of external sales (76% in 1Q 2014) and the Mining division for 22% (24% in 1Q 2014).
    
    Revenues in Ukraine totalled USD 340 million in 1Q 2015, down 54% y-o-y. Sales of iron ore products on the domestic market decreased by 66% y-o-y following lower demand from key domestic customers amid the conflict in Eastern Ukraine. Sales of steel products declined by 44% y-o-y due to lower demand in the major steel consuming sectors (construction, machine-building and pipeline infrastructure).
    
    The share of international sales increased to 81% in 1Q 2015, up 6 percentage points (pp) y-o-y. The proportion of sales to Europe rose by 7 pp y-o-y to 35%, driven by greater volumes of iron ore products, pig iron and flat products. The share of sales to the Middle East and North Africa (MENA) slightly increased by 1 pp y-o-y to 21%. The share of sales to the Commonwealth of Independent States (CIS, excluding Ukraine) was down by 1 pp y-o-y to 6% due to lower volumes of finished steel products, mainly to Russia. The proportion of sales to Southeast Asia, North America and other regions remained unchanged at 15%, 3% and 1% respectively.
    
    Metallurgical division
    Revenues in the Metallurgical division come from sales of steel and coke products. In 1Q 2015, the division’s top line fell by 36% y-o-y to US$1,426 million, of which steel sales accounted for 90%. The drop was attributable to lower prices of steel products, as well as lower volumes of slabs, billets, flat and long products, partly offset by higher volumes of pig iron.
    
    Pig iron
    In 1Q 2015, sales of pig iron decreased by 10% to US$110 million y-o-y due to a slump in the effective average price of 27%, which was partly compensated by an 18% increase in sales volumes. Average selling prices decreased in line with the benchmark quotations for pig iron CIF US, which declined by 15% y-o-y. Despite the 21% y-o-y decline in production in 1Q 2015 due to raw material supply constraints at Azovstal and Ilyich Steel and the shutdown of operations at Yenakiieve Steel caused by the conflict in Eastern Ukraine, sales volumes of pig iron were up 18% y-o-y due to re-sales of 80 thousand tonnes of Zaporizhstal’s pig iron as a result of excessive volumes of hot metal after the major overhaul of blast furnace no. 4 in 2014. Given unfavourable market prices in the US in 1Q 2015, sales were redirected to Europe, MENA and other regions.
    
    Slabs
    In 1Q 2015, sales of slabs slumped by 46% y-o-y to US$83 million, as sales volumes declined by 35% and the effective average selling price by 11%. Sales volumes of slabs decreased by 102 thousand tonnes y-o-y amid lower overall production of crude steel in 1Q 2015. Meanwhile, the geographic structure of sales improved: the share of Europe, a higher-margin market, increased by 10 pp y-o-y to 61%, while that of Southeast Asia and MENA decreased by 6 pp each. The decline in the effective average selling price followed the benchmark for slabs FOB Black Sea, which dropped by 32% y-o-y.
    
    Square billets
    In 1Q 2015, sales of billets decreased by 59% y-o-y to US$57 million due to a 49% drop in sales volumes and a 10% decline in the effective average selling price. Volumes of billets decreased by 129 thousand tonnes y-o-y mainly due to lower production amid the conflict that started in the second half of 2014 and the halt of production at Yenakiieve Steel from 7 February to 16 March 2015. MENA’s share in total sales increased by 14 pp y-o-y to 91%. Average selling prices followed the dynamics of billet FOB Black Sea quotations, which dropped by 25% y-o-y.
    
    Flat products
    In 1Q 2015, sales of flat products decreased by 27% y-o-y to US$867 million, of which 15 pp was attributable to lower sales volumes and 13 pp to a lower effective average selling price. Despite an increase in Zaporizhstal’s share in total sales of flat products by 5 pp y-o-y to 39%, total sales volumes decreased by 293 thousand tonnes y-o-y due to a 26% decline in the output of flat products at Metinvest’s operations. At the same time, sales volumes in 1Q 2015 included 66 thousand tonnes of flat products sold from stock. Sales to all regions fell, except Europe. Effective average selling prices were largely in line with the benchmark quotations for HRC FOB Black Sea, which were down 23% y-o-y
    
    Long products
    In 1Q 2015, sales of long products decreased by 62% y-o-y to US$139 million due to a 50% decline in sales volumes and a 12% decline in the effective average selling price in all regions. Sales volumes of long products decreased by 285 thousand tonnes y-o-y, following lower production amid the conflict in Eastern Ukraine, issues with shipments from the conflict zone and difficulties with supplying billets from Yenakiieve Steel to Promet Steel in Bulgaria.
    
    Tubular products
    In 1Q 2015, sales of tubular products decreased by 10% y-o-y to US$25 million due to a 4% drop in sales volumes and a 6% decline in the effective average selling price.
    
    Coke and chemical products
    In 1Q 2015, sales of coke products – which include coke, coke breeze, nut coke and chemical products – decreased by 29% y-o-y to US$92 million due to a 31% decrease in sales volumes and a minor increase of 2% in the average selling price. Sales volumes of coke and chemical products decreased by 185 thousand tonnes y-o-y, primarily due to slump in coke output in 1Q 2015 following the limited operations at Avdiivka Coke starting July 2014.
    
    Mining division
    Revenues in the Mining division come from sales of iron ore products and coking coal concentrate. In 1Q 2015, the division’s top line dropped by 44% y-o-y to US$395 million, mainly because of a collapse in prices of iron ore products coupled with lower sales volumes.
    
    Iron ore concentrate
    In 1Q 2015, sales of merchant iron ore concentrate declined by 47% y-o-y to US$160 million, of which 3 pp was attributable to declining volumes and 44 pp to a lower effective average selling price. A decrease in sales volumes of 94 thousand tonnes y-o-y was lower than a 14% drop in production due to destocking of 202 thousand tonnes during the reporting period. Domestic sales of concentrate fell by 65% y-o-y, driven by a 34% decline in average selling prices and a 31% drop in volumes. As such, volumes were redirected from Ukraine to Europe and Southeast Asia. Despite an 11% increase in sales volumes in Europe, revenues from the region declined by 41% y-o-y due to a 52% drop in prices. The Group redirected 388 thousand tonnes from Ukraine to Southeast Asia in the reporting period. The effective average selling price decreased by 44% y-o-y, following the dynamics of the benchmark, Platts 62% Fe iron ore fines CFR China, which decreased from US$120/tonne in 1Q 2014 to US$62/tonne in 1Q 2015.
    
    
17. voda 10 juni 2015 16:33

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    deel 2
    
    Pellets
    In 1Q 2015, sales of pellets decreased by 51% y-o-y to US$162 million due to a 16% decrease in sales volumes and a 35% decline in the effective average selling price. Pellet sales volumes decreased by 375 thousand tonnes y-o-y due to an accumulation of 124 thousand tonnes of stock in 1Q 2015 and destocking in 1Q 2014. Sales to Ukraine decreased by 846 thousand tonnes due to lower consumption by key Ukrainian customers as a result of the conflict. Volumes were partly redirected to other markets: 190 thousand tonnes to Europe, 93 thousand tonnes to MENA (mainly Turkey), and 188 thousand tonnes to Southeast Asia. The effective average selling price in Southeast Asia dropped by 46% y-o-y in 1Q 2015 as a result of Platts quotations declining by 48% y-o-y, which was partly compensated by signing contracts with a higher premium on pellets of about US$8/tonne, compared with the average market premium. In Ukraine, the effective average selling price decreased by 44% y-o-y, largely in line with the Platts benchmark.
    
    Coking coal concentrate
    In 1Q 2015, sales of coking coal were stable y-o-y at US$46 million. A 13% drop in volumes was compensated by a rise in the effective average selling price. Sales volumes declined by 59 thousand tonnes y-o-y, primarily due to the redirection of United Coal’s volumes from sales to third parties for internal consumption as a result of logistical disruptions in supplies from Krasnodon Coal caused by the conflict in Eastern Ukraine. The effective average selling price increased by 13% y-o-y, driven by an increase in the average selling price in Ukraine from US$99/tonne in 1Q 2014 to US$184/tonne in 1Q 2015. This was partly offset by a 13% y-o-y decrease in the average quarterly contract price for hard coking coal in North America.
    
    Source - Strategic Research Institute
18. voda 10 juni 2015 16:37

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    EU levies duty on Presressed Steel Wire from China
    
    Published on Wed, 10 Jun 2015 27 times viewed
    
    On June 5, 2015, EU made sunset review final determination of antidumping investigation against prestressed non alloy steel wire and stranded wire originated from China under the HS code of ex72171090, ex72172090, ex73121061, ex73121065 and ex73121069.
    
    It decided to levy antidumping duty of the involved products for five years.
    
    Details are as follows
    Kiswire Qingdao Ltd (Qingdao): 0%
    Ossen Innovation Materials Co Joint Stock Company Ltd (Maanshan) and Ossen Jiujiang SteelWire Cable Co Ltd (Jiujiang): 31.1%
    Other enterprises: 46.2%.
    
    EU initiated the antidumping investigation against the aforementioned products on May 2014.
    
    Source : SteelHome
    

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19. voda 10 juni 2015 16:38

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    AISI announces US raw steel production data for Week 23
    
    AISI announced that in the week ending June 6, 2015, US domestic raw steel production was 1,722,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,889,000 net tons in the week ending June 6, 2014 while the capability utilization then was 78.5 percent.
    
    Source : Strategic Research Institute
20. voda 10 juni 2015 16:43

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    Ukraine’s iron ore exports up 13.8 percent in January-May
    
    
    In the January-May period of this year, Ukraine exported 18.77 million tonnes of iron ore, up 13.8 percent, worth a total of $926.09 million, down 44.1 percent, both on year-on-year basis, according to the data released by State Fiscal Service of Ukraine.
    
    In terms of value, the exports mostly went to China (46.04 percent), to Poland (10.25 percent) and to the Czech Republic (10.55 percent).
    
    Meanwhile, in the first five months of this year Ukraine imported 934,085 tonnes of iron ore, down 34.4 percent, worth a total of $45.995 million, down 62.8 percent, both on year-on-year basis. The main supplier of iron ore to Ukraine in the given period was Russia, which supplied 99.98 percent of the total import volume.
    
    Source : Steel orbis
    
21. voda 10 juni 2015 16:45

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    Ignorance pushed iron ore market into dance of death – Mr Toll
    
    Published on Wed, 10 Jun 2015 100 times viewed
    
    
    Sydney Morning Herald quoted Former FMG chairman Mr Gordon Toll as saying the major miners have demonstrated a massive ignorance of market structures and have exhibited appalling ignorance of major economic market structures and have created a global debacle that could last for decades. Mr Toll, who now heads locally listed magnetite hopeful Royal Resources and hadearlier served as chairman of Fortescue from May 2005 to March 2007, said that he was shocked shareholders of BHP Billiton, Rio Tinto, Vale and Fortescue had remained silent while their companies pressed ahead with expansion plans which would depress prices.
    
    Mr Toll told Fairfax Media “The first thing is why are the shareholders not screaming and I think that's part of the second thing which is both the executives of these companies and the shareholders are showing massive ignorance of major economics and market structures. I don't believe Jimmy Wilson or Andrew Harding, any of those people, ever believed they were going to drive the iron ore price down to where they have driven it but that is because they do not understand major economics."
    
    Mr Toll said the war of words was a mindless mantra of free and efficient markets and ignored the destruction of shareholder value that had occurred. He said "The iron ore business is an oligopoly. In any well managed oligopoly you manage for margins not for volume. Managing the volume is a sure fire recipe of achieving exactly what Mr Walsh and Mr Mackenzie and the people running Vale and Fortescue have achieved. We have a debacle and it's the shareholders that are being hurt."
    
    Asked what he believed should be done to remedy the situation, Mr Toll said any action was difficult. He said "Once the dance of death starts, you can't stop the music, the orchestra keeps playing. Who is going to be the first to cap production? They have all issued statements that they are going to slow down their expansions but the damage is done. I have seen whole industries stay in these kind of comatose states for decades... the American natural soda ash industry which has been in this comatose state since the early 1980s because of the same misunderstanding of the market. If they get together and do certain things they will have an ACCC inquiry. They should be trying to maintain their margins for their shareholders benefit because that is what is going to bring in the highest net revenue for shareholders, for the country and for national and state coffers."
    
    The iron ore spot price peaked at more than $US180 a tonne in 2011, but has plummeted in the past 18 months to a year-low of $US47 a tonne in April. Iron ore was trading at about $US64 a tonne on Tuesday, as Goldman Sachs and Royal Bank of Canada reiterated to clients they expected the recent rally to be short-lived, with both banks expecting prices to fall back towards $US50 a tonne due to sustained levels of supply.
    
    Source : Sydney Morning Herald
    

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