According to last week's data;
US;
- HDG and CRC prices increased in the US, while HRC prices remained stable. HDG and CRC prices settled at $920 per short ton and $880 per short ton ex-works, respectively. For HRC, producers continued to offer as high as $750 per short ton, but spot deals remained limited.
- Early last week, the US pig iron price was quoted at $432.00, HMS1 scrap at $395.00 and HMS1/2 80:20 scrap at $370.00.
- Supply is expected to be reduced in the US due to power outages and production problems at steel mills. Strikes in the automotive industry added to market uncertainty.
- Imports accounted for 20% of the US rolled steel market in September, while steel import permit applications increased by 0.7% compared to August to 2,289,000 tons. Finished steel import tonnage was 1,659,000 tons, 10.8% below August's 1,860,000 tons. Total finished steel imports in the first nine months of 2023 were 21,946,000 tons and 16,807,000 tons, down by 9.4% and 14.5%, respectively.
- Shipments by US steel mills rose in August to around 7.66 million net tons.
- US consumer prices rose by 3.7% yoy in September, slightly above the forecasts, while core inflation fell to its lowest level in two years. Core inflation, which excludes volatile food and energy prices, edged down to 4.1% in September from 4.3% in the year to August.
- US imports of line pipe increased by 14% on a monthly basis and 19% on an annual basis to around 68,000 tons.
Australia;
- Australia's coking coal price started last week at $355.00 FOB.
- A gradual recovery from recent supply disruptions is projected, with Australia's thermal coal exports rising from 182 million tons (Mt) in FY2022-23 to 203 Mt in FY2024-25. As prices fall, the export value of thermal coal is expected to fall from a peak of more than A$65 billion in Fiscal Year 2022-23 to around A$28 billion in Fiscal Year 2024-25.
- Rio Tinto reported that it expects to ship between 323 million and 338 million tons of iron ore in Western Australia (WA) in 2024, against a target of 328 million to 335 million tons in 2023. However, the company is ramping up production of low-grade ore and projections show low-grade SP10 products will be 45 million to 50 million tons in 2023, accounting for 13-15 percent of all iron ore sales in WA.
- Port Hedland Green Steel has proposed to develop a large-scale downstream iron ore processing facility (IOPF) in the Pilbara region. The project, known as the Port Hedland Green Steel Project - Phase 1, will be located in the Boodarie Strategic Industrial Area (BSIA) and will consist of a pellet plant and a hot briquetted iron (HBI) plant.
Brazil;
- Brazilian slab prices were reported at $535.00 and pig iron at $405.00 at the beginning of last week.
- Brazilian pig iron exports decreased from 427.1 thousand tons in August to 251.8 thousand tons in September.
- In September, Brazil's steel coil exports and steel coil imports were 22,800 tons and 22,800 tons, respectively.
- Brazil's scrap exports stood at around 98,000 tons in September, while scrap imports stood at 1,300 tons.
- Brazil exported 6.4 thousand tons of wire rod in the previous month. This month, total exports stood at 22.8 thousand tons.
Comments
No comment yet.