NEW DIRECTION FOR STEEL EXPORT PRICES FROM CHINA – MEPS

NEW DIRECTION FOR STEEL EXPORT PRICES FROM CHINA – MEPS

Chinese steel producers increased their export offer prices for most steel mill products in January, compared to those issued for the previous month. The proposed advances ranged from zero to 15.5 percent, depending upon the form of supply. The most significant upturns were proposed for exports of cold rolled and zinc coated coils – with figures of in excess of 15 and 8 percent, respectively,...

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NEW RECORD GLOBAL STAINLESS STEEL OUTPUT FORECAST FOR 2016

NEW RECORD GLOBAL STAINLESS STEEL OUTPUT FORECAST FOR 2016

Annual global stainless steel production for 2015 is estimated to have totalled just below 41.5 million tonnes. This is approximately 0.5 percent less than the all-time high figure, achieved in the previous year. MEPS predicts that worldwide output will increase by around 2 percent, in 2016, to a new peak figure of 42.3 million tonnes. Production during the second half of 2015 fell slightly...

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US FLAT PRODUCT STEEL PRICES ESCALATE IN JANUARY

US FLAT PRODUCT STEEL PRICES ESCALATE IN JANUARY

US flat product transaction values advanced, in January, to halt the negative pressure on steel prices for much of last year. In December, North American steel mills announced price hikes of up to US$40 per short ton. Local producers escalated list prices for a second time, this month, following higher scrap prices. In January’s edition of the International Steel Review, MEPS reports that higher...

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EU STEEL PRICES CLOSE TO BOTTOMING OUT

EU STEEL PRICES CLOSE TO BOTTOMING OUT

European steel prices may have reached their lowest point with a slight revival of fortunes expected for 2016. In January’s issue of the European Steel Review, MEPS reports that European steel mills have announced price hikes for first quarter business. It is unclear whether the price increases will be accepted by buyers. German flat products prices may have bottomed out as buyers restock at the...

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ARE PRIVATELY OWNED STEELMAKERS HEADING FOR OBLIVION?

ARE PRIVATELY OWNED STEELMAKERS HEADING FOR OBLIVION?

The Chinese steel industry’s attempt to export its way out of the problem of domestic oversupply in 2015 has failed. The solution to the industry’s problems was, and still is, to make substantial cuts in local steelmaking capacity to bring output and demand into balance. Despite annual exports of finished steel products from China rising from 62 million tonnes in 2013 to an estimated 115 million...

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FALLING RAW MATERIAL COSTS DEPRESS STAINLESS STEEL PRICES IN 2015

FALLING RAW MATERIAL COSTS DEPRESS STAINLESS STEEL PRICES IN 2015

The past year has been another difficult period for stainless steel producers, distributors and traders, in all parts of the world, according to MEPS. In December’s issue of the Stainless Steel Review, MEPS reports that consumption has failed to grow by any substantial degree and selling prices have plummeted, driven by falling raw material costs. The major factor in the reduction in input...

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