December 2013

CHINA STEEL WRAP: Prices down on the week

China’s spot steel markets lost ground this week as tight cashflow and weak demand softened sentiment.

China’s daily crude steel output stable in mid-December

China’s daily crude steel output was little-changed in mid-December, as mills continued to observe moderate production due to strict pollution controls.

Spot 63.5% iron ore prices up $1 this week

China’s imported iron ore prices ended higher this week as mills began to return to the market for restocking.

China’s spot rebar prices down this week

China’s spot rebar prices ended lower for the week as sluggish sales subdued sentiment.

China’s spot HRC prices end week lower amid tight liquidity

China’s domestic hot rolled coil market lost ground this week as sales remained slow amid relatively tight cash liquidity at the end of the year.

Mechel earnings down 48% on year in both Q2 and Q3 2013

Earnings at debt-laden Russian coking coal and steel producer Mechel plunged 48% year-on-year both in the second and third quarters of 2013, according to Steel First calculations.

Japanese scrap prices fall as mills struggle to make profits

Japanese ferrous scrap prices are on the retreat after eight weeks of increases amid signs that the market is struggling to cope with the highest prices in over two-and-a-half years.