FOB China HRC The index fell by $2/t yesterday (25.8.21) to US$908/t, MTD US$922.82/t. Cisa member mills reverses early August Crude steel output cuts, increasing output by 4.6pc to 2.1379mn t/day over 11-20 August from 1-10 August. The output was still 1.1pc lower from a year earlier. There are no changes for major …
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Morning Steel and Scrap Report 25/8/21
FOB China HRC The index was flat yesterday (24.8.21) at US$910/t, MTD US$923.75/t. People’s Bank of China governor Yi Gang said in a statement that the bank will adjust its credit and loan polices to support small and mid-sized companies. The bank will “increase cash supply modestly to help China’s economy to run …
Morning Steel and Scrap Report 19/08/21
FOB China HRC The index fell by $6/t yesterday (18.8.21) to US$919/t, MTD US$927.58/t. Beijing has pushed a “common prosperity” objective to reduce economic inequality, raising risks of an economic slowdown during the regulatory reset. Policymakers said they can counter that risk with monetary and fiscal support. Beijing also plans to add more …
Morning Steel and Scrap Report 18/08/21
FOB China HRC The index fell by $6/t yesterday (17.8.21) to US$925/t, MTD US$928.36/t. The National Development and Reform Commission said that nine provinces including eastern China’s Jiangsu province showed increasing energy consumption in the first half year, and these regions were asked to make more enforceable measures to meet the energy consumption …
Morning Steel and Scrap Report 17/08/21
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 …
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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