FOB China HRC The index rose by $3/t yesterday (16.8.21) to US$931/t, MTD US$928.70/t. China’s industrial production rose by 6.4pc in July from a year earlier, but slower than the 8.3pc gain in June, according to the national statistics bureau. Real estate data showed growth from both 2020 and 2019, but at …
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Morning Steel and Scrap Report 16/08/21
(ARGUS) FOB China HRC – The index was unchanged last Friday (13.8.21) at US$928/t, MTD US$928.44/t. China’s iron and steel association Cisa was heard to collect suggestions from some Chinese mills on the country’s 2022 import and export tax adjustments before 17 August, participants said. They were unclear whether it means China may …
Morning Steel and Scrap Report 13/08/21
FOB China HRC The index was flat yesterday (12.8.21) at US$928/t, MTD US$928.50/t. HRC stockpiles at traders and mills increased by over 60,000t this week, with output increasing, participants said. Buyers were not ready to book with weak demand and some traders started to concern downstream demand may not recover in September. In …
Morning Steel and Scrap Report 12/08/21
FOB China HRC The index was unchanged yesterday (11.8.21) at US$928/t, MTD US$928.57/t. North China’s Tangshan government requires its independent rolling mills to maintain current production restriction ratio from 10 August to control ozone pollution, with no end date given. Chinese mills could make Yn800-1,000/t gross profit for coils at current spot prices, wider …
Castaway Podcast Episode 67
FIS Castaway Podcast – Episode 67 Laudate Nostradamus! With our freight and apocalyptic iron ore calls from the last few weeks coming true, we look at what’s been going on in the ferrous, oil and freight markets this week. Listen Below: Website https://freightinvestorservices.com/blog/fis-castaway-eps-67/ Spotify https://open.spotify.com/episode/1bx7An2ak8PjbHmUhG1qHw?si=gshvw_3CQlqGzuG-ibTeqw&dl_branch=1 iTunes https://podcasts.apple.com/gb/podcast/episode-67/id1507094242?i=1000531695519
Morning Steel and Scrap Report 11/08/2021
FOB China HRC The index kept flat yesterday (10.8.21) at US$928/t, MTD US$928.67/t. Hebei province will cut steel production by 21.7mn t in 2021 from its 249.8mn t produced in 2020, while Tangshan will cut by 12.37mn t in 2021 and add restrictions for the 2022 Beijing Winter Olympics over 4-20 February. China’s …
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Morning Steel and Scrap Report 10/8/21
FOB China HRC There is no index yesterday given Singapore holiday. China exported 5.669mn t of steel products in July 2021, up by 35.8pc on year. Its January-July export volume increased by 30.9pc on year to 43.051mn t, while the import volume for steel products fell by 59.7pc in July to 1.049mn t. …
Ship Shape: When It Rains It Pours
FIS: Ship Shape When It Rains It Pours You might be mistaken for thinking that I am referring to the typically British weather that we have had recently, whereby what could have been a gloriously sunny summer has been interrupted by biblical rains and high winds. Alas not, as awkwardly British as …
Morning Steel and Scrap Report 9/8/21
FOB China HRC The index fell by $1/t last Friday (6.8.21) to US$928/t, MTD US$928.80/t. Some cities in east China’s Jiangsu province tightened policies to control the spread of Covid, slowing transportation between Shanghai and Jiangsu with drivers required to have frequent Covid tests. Participants remain cautious in seaborne market given China’s uncertain …
Steel & Scrap Morning Report 06/08/21
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