Monday, February 18, 2008

Steelmaking costs 2008

With all the talk of the impending 2008 iron ore price increase, industry observers might be forgiven for taking their eye off other steelmaking costs. But ferrous scrap prices also rocketed in January [see], rising a massive $90/tonne to ~$385-$400 fob Rotterdam for HMS1. Just to add to the misery, natural gas prices also jumped 20% in January [], to reach record levels ...

Anyone betting on a 2008 steel price fall ?

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Sunday, February 17, 2008

2008 iron ore price rise

Reports are coming in that Nippon Steel has just agreed an iron ore price increase, effective 1st April 2008. The price rise is 65%.

Steel mills typically accept whatever price is first settled with one of the big three miners, so it seems probable that the 65% iron ore price increase will be the benchmark settlement for other deals in the coming weeks.

For original report, see

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Sunday, February 10, 2008

Crude steel production 2007

According to the International Iron and Steel Institute, the top steel producing countries in 2007 were China (489 mt crude steel), Japan (120.2 mt), and the USA (97.2 mt).  World crude steel production reached 1,343.5 million metric tonnes, up 7.5% on 2007 with Chinese production growing almost 16% from 433 mt.

For full 2007 world steel production report, see

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