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Your Position:Home>News>Industry News>Overall Strength Of The International Steel Market From November 13 To November 19

Overall Strength Of The International Steel Market From November 13 To November 19

Time:23 November 2016 Click:171

US steel market witnessed crazy price increases of which the rate and frequency were rare. However, despite the rising cost, steel makes the basis for a more solid price increase, but the price increase speed and price increases of a wide range made users in the United States more cautious when purchasing. If the market demand was unable to support high prices, then the price surge will be unsustainable. The European market remained firm, with raw material prices continuing to rise, with European sheet and rebar prices continuing to rise, but some steel mills still waited to see if they can pick up orders. The turning points of Asian markets were in the futures and domestic spot prices were under the double pressure. China's steel export prices turned out to be lower while exporters have begun to accept low prices. China's steel market inflection point may indicate that the current round of global steel prices is coming to an end. From a short-term point of view, if the raw material prices are firm, global steel prices may be high in the consolidation operation; if the raw material prices are loose, then the steel price correction will occur. On the whole, the international steel market in the short term is stable and weak.

The US market crazy price increases

The price of flat material continues to raise. Thin-walled market, last week, ArcelorMittal announced another $ 40/short tonne increase in sheet prices for immediate execution. After the price increase, the lowest base price for the hot coil is $ 560/short ton, cold roll and hot-dip galvanized the lowest base price of $ 780/short ton. The price increase is the first time in about a week, with the second increase in sheet metal prices. If other mills follow the price hike, it would be the third price increase for US mills for about three weeks. The first two price increases are 30 US dollars/short ton. However, ArcelorMittal said it would retain the right to change any outstanding or pending orders, so the price increase may not apply to all new orders or new quotes. Last week, the US Midwest mill ex-factory price of hot-rolled was 510-530 US dollars/short ton, cold coil ex-factory price was 710-740 US dollars/short ton.

In the long run, the price of products continue to raise. Wire market, Gerdau long products North America and Keystone company raised the price of wire of $40/short ton, which was immediately implemented on December 1. Nucor had a similar rate last week, price increases, the main reason for price increases is scrap prices rise. At present, the US wire mesh ex-factory price reported at 460-480 US dollars/short ton, remained stable. The rebar market, Nucor, Gerdau Long North America and Steel Dynamics Inc., followed US Commercial Metal's (CMC) rebar price hikes of US $ 30/short tonne, which began last week and officially kicked off the US rebar market The second round of price increases. However, all contracts signed before November 15 and shipped before December 10 will be price protected. By the end of October, US mills had announced a rebar price increase of 20 US dollars/short ton. Sectional markets, Nucor, Gerdau and Steel Dynamics announced an increase in H-beam prices of $ 30/short tonne last week. Nucor's price increases are related to H-beam and I-beam, and the price increase of Gail Road is related to most of the profiles. The dynamic price increase of HEC includes H-beam, I-beam and angle steel. After the price increase, the three companies of medium-sized H-beam listing price of 680 US dollars/short ton, up 30 US dollars/short ton. In September, US steel mills have cut H-beam prices 60 US dollars/short ton, then the price has been steady. At present, the US H-beam ex-factory price of 640-650 US dollars/short ton.

The European market remains firm.

Flat material keeps strong. Tata Steel confirmed that it will return to the European coil market, and raised coil prices 50 euros/ton. The ex-factory price of HRC is reported at € 550/t ex-works and the ex-factory price of CRC and HDG is reported at € 650/t. The previous week, in view of raw material prices rose too fast, Tata Steel temporarily out of the market. In addition, is expected to carry out the corresponding amplitude of the price adjustment, but the wait-and-see attitude is thick, temporarily will not return to the market. At present, the buyer is unwilling to accept 500 euros/ton of hot volume offer, questioned coking coal prices continued to rise sharply. But steel mills are also beginning to worry about the Australian rainy season, because iron ore prices may be affected by the weather.

Long products, to maintain a strong. European rebar prices continue to rise due to rising raw material prices, with a short-term target delivery price of € 200/t for the Northwest European rebar mill. Market After a few days of no quotation, Nordic mills are offering € 120/tonne (delivery basis) for 12mm rebar, but the mill has informed buyers that it will raise rebar prices by € 20/t. Buyers said that although steel mills are trying to pass on rising costs to downstream buyers, but poor market demand fundamentals, price increases may lack the stamina. On the one hand, there was seasonal demand, on the other hand, three weeks ago buyers had expected rebar prices to follow rebar buying, thus purchasing a lot of resources. One mill is expected to have room to rise in scrap prices between December and January, or about 5-10 euros per tonne, and traders are now the main contenders for the mills because they still have low inventories. Last week, the Northwest European rebar ex-factory price of 415-425 euros/ton, the chain rose 5 euros/ton.

Asian market inflection point
For flat material, there are up or down. Last week, the Asian hot volume market fell, China's general merchandise volume export price 440-445 US dollars/ton (FOB) around the previous week down $ 15/ton. Some mills are maintaining offers at $ 470/tonne (FOB), but buyers are more cautious given the volatility in the market. China's export price of cold-rolled steel base in 480-495 US dollars/ton (FOB). In Korea, following October, Posco raised its HRC domestic prices by KRW 20,000/t in November, mainly due to higher coking coal prices. After the price adjustment SS400 hot coil price of 59 million won/ton ($ 503/ton), GS400 hot coil price of 55 million won/ton ($ 469/ton). Prior to this, Hyundai Steel announced in late October raised the domestic price of hot rolled 20,000 won/ton. At present, China SS400 hot volume to South Korea offer about 490 US dollars/ton (CFR), equivalent to 575,000 won/ton. According to the Korea Iron and Steel Association data, from January to October South Korea imported from China volume of 1.86 million tons, down 13.3%. In the UAE, the UAE flat steel import market continues to rise, the current Chinese hot coil quotes in the 480-495 US dollars/ton (CFR), Japan reported 540-550 US dollars/ton (CFR). China Refrigeration reported 545-550 US dollars/ton (CFR), hot galvanized sheet reported 610-620 US dollars/ton (CFR), the buyer bid at 600 US dollars/ton (CFR).

Long products were mixed. Asian rebar import market continued to fall last week, China's BS500 rebar export prices from the previous weekend's 400-402 US dollars/ton (FOB) fell to 388-392 US dollars/ton (FOB). Some exporters began to consider accepting low bids. In the UAE, the United Arab Emirates hope that import market also rose, imported from Turkey in January of 30,000 tons of rebar delivery in the 435-440 US dollars/ton (CFR, weight), before the 430-440 US dollars/ton (CFR , Weight). The ex-works prices for domestic rebar in the UAE are stable at Dh1451-1460/t ($ 395-397/t). In Taiwan, last week Fung Hing Steel raised its rebar price and scrap purchase price by NT $ 500/t and its 13mm rebar price was raised to NT $ 14,200/t ($ 447/t), up NT 1,800/Ton, scrap purchase price raised to 7200 Taiwan dollars/ton. However, rebar sales in Taiwan have slowed, and end-users and traders are cautious. China's steel market has been called back, and most buyers began to wait and see.





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