Date: 04-11-2024
Steel price index 鈥� 2024/11/01
As steel prices fluctuate amid evolving global dynamics, AG真人游戏 Steel's weekly Steel Price Index offers a comprehensive look at the latest numbers and the forces behind them. From international market shifts to emerging industry trends, delve into the key events impacting steel prices worldwide and stay ahead with insights tailored for industry professionals.Exporting CountryProductImporting CountryPrice (USD/MT)Trade & Shipment TermVietnamHRCVietnam532-534Jan shipmentChinaHRCVietnam500-505CFR Vietnam 鈥� Dec shipmentChinaHRCVietnam505-513CFR Vietnam 鈥� Dec shipmentChinaHRCVietnam525-530CFR Vietnam 鈥� Dec shipmentChinaHRCVietnam520-525CFR Vietnam 鈥� Dec shipmentKoreaHRCVietnam535CFR Vietnam - Dec/Jan shipmentJapanHRCVietnam545CFR Vietnam 鈥� Dec/Jan shipmentThailandWire RodThailand525CFR Thailand 鈥� Dec shipmentChinaWire RodThailand520CFR Thailand 鈥� Dec shipmentChinaWire RodManila505-510CFR Manila 鈥� Dec shipmentIndiaHRCIndia553-565EXW MumbaiChinaHRCIndian ports520-525CFR Indian ports 鈥� commercial gradesTurkeyHRCTurkey607-610EXW Turkey - Nov/Dec shipmentRussiaHRCTurkey545CFR Turkey 鈥� Dec shipmentEUHRCGermany620-631EXW Germany 鈥� Dec shipmentTurkeyHRCItaly609-620EXW Italy 鈥� Dec shipmentEUHRCEU main ports598-604CFR EU main ports - Dec/Jan shipmentIndiaHRCEU main ports625CFR EU main ports 鈥� Dec shipmentTaiwanHRCEU main ports615-625CFR EU main ports- Dec shipmentEgyptHRCEU main ports631-636CFR EU main ports 鈥� Dec/Jan shipmentKoreaHRCEU main ports615-631CFR EU main ports 鈥� Dec/Jan shipmentUSHRCUnited States740Consumer spot price 鈥� Dec shipmentMexicoHRCMexico740Consumer spot price 鈥� Dec shipmentWhile last week's steel prices reflect shifting market dynamics, a closer look reveals the global events and industry shifts driving these changes. Here鈥檚 what鈥檚 making waves in the steel industry right now:Severstal's demand forecastRussian steelmaker Severstal anticipates a 5-7% decline in steel demand due to high borrowing costs affecting customer investment plans. The central bank's recent interest rate hike to 21% has intensified financial strain on industrial companies, particularly small and medium-sized enterprises, and threatens infrastructure development goals. Severstal reports that 80% of its sales are now within Russia, with the construction and mechanical engineering sectors experiencing reduced activity and lower demand, leading to declined investment projects. In the third quarter, steel demand fell by 9%.Outokumpu's market outlookFinnish stainless steel producer Outokumpu reported higher-than-expected third-quarter core profit, driven by strong performance in its ferrochrome business and higher stainless steel prices in Europe. However, the company warned of deteriorating market conditions in Europe and North America for the final quarter of the year, predicting flat or declining stainless steel deliveries by up to 10%, and sequentially lower core earnings. CEO Kati ter Horst cited challenging market conditions, including weak demand, cost inflation, and cheaper imports from Asia as major concerns.JSW Steel and POSCO collaborationIndia's JSW Steel has signed a preliminary agreement with South Korea's POSCO to establish an integrated steel plant with an initial capacity of 5 million metric tons per year. The joint venture will also include collaboration on renewable energy and battery materials for electric vehicles. JSW Steel, the largest steelmaker in India by capacity, will work with POSCO to support the energy needs of the proposed steel plant and contribute to building an EV ecosystem in India. POSCO, which already operates a steel mill in Maharashtra supplying automakers, had previously abandoned a $12-billion project in Odisha but later partnered with Indian billionaire Gautam Adani's infrastructure group for a $5 billion investment in Gujarat.BlueScope's profit guidanceAustralian steel company BlueScope forecasts a profit hit for the first half of the fiscal year due to record levels of Chinese exports, inflation, and uncertainties in the US related to the impending presidential election. It anticipates underlying earnings before interest and tax (EBIT) between $270 million and $310 million, down from the initial estimate of $350 million to $420 million. BlueScope plans to implement around $200 million in cost and productivity improvements. CEO Mark Vassella acknowledges challenging conditions in the global steel industry, influenced by East Asian market softness, inflation, and US economic uncertainties. In North America, the North Star division鈥檚 performance is expected to decline, and customer orders are being deferred pending election outcomes. While domestic demand in Australia is stable, the Australian Steel Products segment is affected by softened export contributions and East Asian steel pricing. The company's operations in China and Southeast Asia face economic and operational challenges, respectively. The forecast is subject to changes in spread, exchange rates, and market conditions. Citi analysts have downgraded BlueScope鈥檚 rating from buy to neutral, noting volatility in commodity prices and the cyclical nature of BlueScope鈥檚 business. BlueScope's shares dropped 1.4%, closing at $20.90. The company will discuss its performance in an upcoming annual meeting on November 19.* Please note that all pricing information in this article is based on data collected and analyzed by our team and is intended for reference purposes only. Prices are subject to change and may not be accurate at all times.