Weekly steel price index 2024/12/21
Steel NewsDate: 24-12-2024 by: Ngoc Cam
The Weekly Steel Price Index 2024/12/21 reveals significant trends in the global steel market, including price shifts, supply chain challenges, and the latest industry developments.
Stay ahead with reliable insights from MRS Steel, a trusted leader in the steel industry.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | Q195 HRC 3mm base | Viet Nam | 475-485 | CFR Viet Nam – Feb shipment |
China | Q235 HRC | Viet Nam | 485-495 | CFR Viet Nam – Feb shipment |
China | SAE1006 50% 2mm | Viet Nam | 505-510 | CFR Viet Nam – Feb shipment |
China | Q195 2nd tier mills | Turkey | 510-520 | CFR Turkey – Feb shipment |
China | 1st tier 2mm SAE 1006 re-rolling | GCC ports | 535-540 | CFR GCC ports – Feb shipment |
China | 2nd tier 3mm A36/Q195/Q235 | GCC ports | 518-522 | CFR GCC ports – Feb shipment |
Japan | Commercial grade HRC | Viet Nam | 500 | CFR Viet Nam – Feb shipment (rumour) |
Japan | 2mm SAE 1006 re-rolling | GCC ports | 530-540 | CFR GCC ports – Feb shipment |
Indonesia | Dexin Wire rod | Thailand | 490-495 | CFR Thailand – Feb shipment |
Indonesia | HPDQ HRC | N/A | 511-513 | FOB – Feb/Mar shipment |
Indonesia | Dexin Wire rod | Turkey | 475 | FOB – Feb shipment |
India | HRC IS2062/E250 BR grade | N/A | 546-554 | EXW Mumbai |
India | SAE1006 re-rolling grade | GCC ports | 535-550 | Feb shipment |
India | 2mm SAE 1006 re-rolling | GCC ports | 535-550 | Feb shipment |
Russia | HRC 1.9-4mm NMLK | Turkey | 525 | CFR Turkey – Jan/Feb shipment |
Russia | HRC 1.9-4mm NMLK | N/A | 490 | FOB Russia for Black Sea market |
EU (Germany) | Domestic HRC | Germany | 550-570 | EXW Germany – Feb shipment |
EU (Italy) | Domestic HRC | Italy | 550-560 | EXW Italy – Feb shipment |
EU (Germany) | ArcelorMittal HRC | Germany | 605-625 | EXW Germany – Feb shipment |
Mexico | Ternium/ArcelorMittal HRC | Mexico | 714-731 | EXW |
US | Clevercliff HRC | N/A | 881 | EX – Feb shipment |
GCC | 1st tier HRC 2mm SAE 1006 | GCC ports | 535-540 | CFR GCC ports – Feb shipment |
GCC | 2nd tier HRC 3mm A36/Q195/Q235 | GCC ports | 518-522 | CFR GCC ports – Feb shipment |
Turkey | Domestic HRC Edermir/Borcelik | Turkey | 570-580 | EXW – Jan/Feb shipment |
Nippon Steel's Bid for U.S. Steel Awaits Presidential Decision
President Joe Biden has 15 days to decide on Nippon Steel's $15 billion bid to acquire U.S. Steel, following the Committee on Foreign Investment in the United States (CFIUS) failing to reach a consensus. Concerns have been raised about potential national security risks and the impact on domestic steel production. Nippon Steel has proposed remedies, such as appointing U.S. citizens to key management positions, to address these concerns.
Tata Steel's Stock Performance
Tata Steel Ltd.'s shares saw a modest increase of 0.60%, closing at 141.70 Indian rupees. Despite this rise, the company underperformed compared to the broader market, with the BSE SENSEX Index climbing by 0.64%. Tata Steel's current stock price remains below its 52-week high of 184.60 rupees.
Asian Markets Experience Moderate Gains
Asian stocks recorded slight gains during a holiday-shortened week, supported by higher U.S. Treasury yields. In China, announcements of increased fiscal support led to modest market upticks. However, investor caution persists due to ongoing economic challenges and potential trade tensions with the U.S.
Nippon Steel and Sojitz Invest in Canadian Iron Ore Project
Nippon Steel and trading house Sojitz have agreed to acquire a 49% stake in Champion Iron's Kami iron ore project in Canada for CAD 245 million. This investment aims to enhance Nippon Steel's supply chain and support its carbon reduction goals by producing direct reduction iron ore for electric arc furnace steel production.
U.S. Steel Issues Weaker-Than-Expected Outlook
U.S. Steel's stock declined after the company projected a fourth-quarter adjusted loss, attributed to falling steel prices and costs associated with developing a new factory in Arkansas. The forecasted loss is significantly below analysts' expectations, reflecting ongoing pressures in the steel market.
BHP and Rio Tinto to Develop Low-Carbon Iron Pilot Plant
BHP and Rio Tinto are collaborating to construct a pilot plant in Western Australia aimed at producing low-carbon iron from Pilbara ores. The project seeks to decarbonize the steel industry by utilizing renewable energy and direct reduced iron technology, with operations expected to commence by 2028.
These developments highlight the dynamic nature of the global steel industry, with significant investments and policy decisions influencing market trends.
* 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.
Write a comment