Escolar Documentos
Profissional Documentos
Cultura Documentos
1-day change
1-week change
N.Europe (/tonne)
338
= 0 0.0%
= 0 0.0%
S.Europe (/tonne)
326
= 0 0.0%
421
2 +0.5%
383
1 -0.3%
4-week change
Low*
High*
15 +4.6%
314
405
16 +5.2%
36 +12.4%
276
400
10 +2.4%
19 +4.7%
364
476
20 +5.5%
80 +26.4%
271
396
*Past 12 Months
Oct
Nov
Dec
Jan
Feb
Mar MTD
373.14
345.77
329.48
316.86
319.35
322.67
333.72
337.00
297.64
286.52
280.81
286.40
288.05
306.83
446.32
418.32
381.57
369.90
391.00
400.10
408.83
292.40
279.73
275.40
274.36
290.90
296.95
357.11
www.thesteelindex.com
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed on the final page) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI
retains all copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
Nov
Dec
Jan
Feb
Mar MTD
US HRC (FOB Midwest Mill) HRC Chinese Exports (FOB China Port)
197
159
146
157
156
122
283
257
241
247
258
250
Hot Metal Spread: ASEAN Imports HRC 62%Fe Iron Ore Imports (CFR China)
198
204
213
227
225
271
212
187
188
189
194
178
Steel Production
US Crude Steel Production (million tonnes)
Northern
Europe
(/tonne)
Mar 16
331.10
Apr 16
340.00
May 16
Hot Metal Spread Forward Price ASEAN HRC vs Iron Ore (US$/t)
Change
(d-o-d)
ASEAN Imports
(US$/tonne)
Change
(d-o-d)
0.00
355.53
+1.78
0.00
370.60
+1.60
340.00
0.00
369.80
+1.60
Jun 16
340.00
0.00
369.80
+1.60
Q2`16
340.00
0.00
370.07
+1.60
Q3`16
340.00
0.00
366.20
+1.60
Q4`16
340.00
0.00
366.80
+1.60
Cal-17
361.25
0.00
370.00
0.00
HRC forward prices are the mid-points of the previous day's settlement values.
Sources: LCH.Clearnet (Northern Europe), Singapore Exchange (ASEAN imports)
Spread between ASEAN HRC imports price and 1.6 * 62% Fe iron ore fines price.
Sources: TSI (historical data), Singapore Exchange (forward data)
Trade Data
EU(28) Flat Steel Imports (million tonnes)
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed on the final page) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI
retains all copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
Origins
0.00
Destinations
Destination
Singapore
0.00
0.00
Indonesia
2.00
0.00
Thailand
2.00
0.00
Vietnam
0.00
0.00
Origin
China
0.00
India
28.00
0.00
0.00
Japan
0.00
0.00
S. Korea
10.00
0.00
Taiwan
0.00
0.00
All differentials applied reflect current market averages for spot transactions.
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. The
copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
Data Exclusions*
TSI indices are compiled from data provided by companies that are part of the steel supply chain and
involved in spot market transactions. The indices are calculated using detailed transaction-level data
submitted to TSI by these companies. This data is normalised to the appropriate specifications and
screened to remove outliers before volume-weighted average prices are calculated from the remaining
core set of data.
For more details on TSI's steel methodology please download the guide published on our website
at: www.thesteelindex.com/en/procedures-methodology/
UNITED KINGDOM
UNITED STATES
SINGAPORE
CHINA
Vaseem Karbhari
europe@thesteelindex.com
Kurt Fowler
america@thesteelindex.com
Terry Chuay
asia@thesteelindex.com
Julie Jiang
china@thesteelindex.com
Sources: American Iron & Steel Institute [for US crude steel production and capacity utilisation data]; CISA [for China Crude Steel Output];
Eurofer [for EU(28) Flat Steel Imports]; US Department of Commerce [for US flat carbon steel imports. The most recent month's values are preliminary, based on SIMA data];
Japan Iron & Steel Federation (JISF) [for Japan wide HR coil carbon steel exports]; China Customs data [for Chinese medium-wide HR coil steel exports].
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed on the final page) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI
retains all copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
1-week change
Low*
High*
221
13 +6.3%
4-week change
46 +26.3%
169
289
204
1 +0.5%
22 +12.1%
166
282
194
14 +7.8%
34 +21.3%
138
243
13 +6.2%
21 +10.4%
189
298
223
*past 12 months ** Price shown for Turkish imports is weekly average of TSI's daily index prices
Low*
High*
214
13 +6.5%
46 +27.4%
154
278
226
13 +6.1%
46 +25.6%
175
292
231
13 +6.0%
46 +24.9%
181
1-week change
4-week change
298
*past 12 months
Oct
Nov
Dec
Jan
Feb
Mar MTD
206.18
178.55
195.52
188.95
185.75
177.05
209.14
215.00
181.25
166.20
169.75
187.25
186.40
203.50
161.75
140.25
147.80
151.50
160.25
161.00
187.00
223.75
193.50
200.60
203.00
205.50
202.40
216.50
183.75
160.00
180.00
173.25
179.00
173.00
207.50
203.50
182.50
199.00
193.25
191.00
185.00
219.50
210.25
188.25
202.20
198.75
196.00
190.00
224.50
Sep
Oct
Nov
Dec
Jan
Feb
Mar MTD
280.38
282.73
257.04
240.68
246.71
257.57
247.33
Black Sea Billet Exports - Turkish HMS 1/2 80:20 scrap imports
79.07
89.95
76.68
63.55
62.50
72.55
79.86
155.57
151.70
142.68
134.30
137.25
145.95
n/a
Exchange Rates
Turkish Lira/US$ Exchange Rate
Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8 and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
CFR Iskenderun port, Turkey
5,000 metric tonnes. 1,000 metric tonnes as part of a mixed cargo.
Loading within 30 working days
Cash/LOC
US$ per metric tonne
US Domestic
Material:
Pricing Point:
Minimum lot size:
Timing:
Payment:
Currency/Units:
Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 60
(50-70) pounds per cubic foot.
Delivered US Midwest mill (Ohio, Illinois, Indiana and bordering vicinities)
1,000 long tons
Delivery within 30 working days
Cash/LOC
US$ per long ton
Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8 and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
CFR Kaohsiung Port, Taiwan
200 metric tonnes
20 foot shipping container
Loading within 30 working days
Cash/LOC
US$ per metric tonne
Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 60
(50-70) pounds per cubic foot.
CFR Nhava Sheva port, India (West Coast)
200 metric tonnes
20 foot shipping container
Loading within 30 working days
Cash/LOC
US$ per metric tonne
Transactions for the following specifications are normalised to the relevant reference product
Turkish Imports
Material:
Heavy Melt Scrap (HMS) 1 & 2, blended in an 70:30 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8 and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Material:
Heavy Melt Scrap (HMS) 1 & 2, blended in an 90:10 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8 and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Material:
Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared no.1 & no. 2 steel, miscellaneous baling and sheet scrap. Average density 60 (5070) pounds per cubic foot.
Material:
Plate and Stuctural. ISRI codes 231, 232, 236 & 237. Cut structural and plate scrap, not less than in thickness, 5' in
length and under, less than 24 in width. Phosphorus or sulphur not over 0.05%.
Material:
Russian A3 scrap. Wrought iron and steel scrap and over in thickness
Material:
Bonus grade scrap. ISRI codes 229, 230, 231, 232, 233, 236, 237, 238, 241, 249 and/or IRSI railroad ferrous scrap.
US Domestic
Material:
Heavy Melt Scrap Number 1 (HMS). ISRI codes 200-202 inclusive. HMS1 wrought iron and steel scrap and over in
thickness, not over 60 inches x 18 inches, prepared in a manner to ensure compact charging.
Material:
Plate and Structural ISRI codes 231, 232, 236 & 237. Cut structural and plate scrap, not less than in thickness, 5' in
length and under, less than 24 in width. Phosphorus or sulphur not over 0.05%.
Shredded obsolete scrap. ISRI code 210. Homogenous iron and steel scrap, magnetically separated. Originating from
automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 50 pounds per cubic
foot.
Material:
Shredded obsolete scrap. ISRI code 211. Homogenous iron and steel scrap, magnetically separated. Originating from
automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 70 pounds per cubic
foot.
Material:
Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8 and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
UNITED KINGDOM
UNITED STATES
SINGAPORE
CHINA
Phillip Whittaker
europe@thesteelindex.com
Kurt Fowler
america@thesteelindex.com
Tim Hard
asia@thesteelindex.com
Julie Jiang
china@thesteelindex.com
Low*
High*
55.2
1-Day Change
0.3 -0.5%
1-Week Change
2.8 -4.8%
4-Week Change
6.3 +12.9%
37.0
65.4
51.0
0.1 -0.2%
1.6 -3.0%
6.8 +15.4%
35.3
59.9
*past 12 months
To-date averages
MTD
QTD
Q-1TD
YTD
55.81
47.66
55.81
47.66
51.16
43.06
51.16
43.06
Rolling averages
Iron Ore Fines, Chinese Imports
5-day
10-day
15-day
30-day
56.78
55.53
56.95
52.98
51.82
50.88
52.63
48.28
TSI 62% Fe FOB Net Back / Implied Europe CFR (US$/dry tonne)
Implied FOB
Brazil
49.50
52.65
44.87
W.Australia
52.20
India
49.95
Price
Change (day-on-day)
March 16
56.00
-0.25
April 16
51.50
-3.25
May 16
50.00
-3.00
June 16
48.25
-3.00
Q2 16
50.00
-3.00
Q3 16
46.00
-0.50
Q4 16
43.25
-3.00
Calendar-17
36.25
-4.50
Forward prices assessed for TSI benchmark 62% Fe iron ore fines CFR Tianjin port
(18:30 Singapore time today)
5-Day Average
MTD Average
QTD Average
Q-1M To Date*
55.5
57.08
+4.6%
56.11
+20.3%
47.96
+2.5%
56.11
+32.0%
55.8
57.38
+4.6%
56.41
+20.2%
48.29
+2.5%
56.41
+31.3%
59.1
60.68
+5.5%
59.16
+20.5%
50.66
+0.3%
59.16
+30.6%
Full specifications for all indices are shown on page 4. The supplementary reference prices are derived from the same transaction data sample as TSI's indices in the table at the
top of this page, with appropriate value-in-use adjustments made for Fe content, impurities and delivery port. Financial forward contracts settle against TSI's benchmark 62% Fe
and 58% Fe 1.5% Alumina indices.
To view full price histories, different currencies and units over time periods of your choice, log-in to TSI Price Analyser www.thesteelindex.com
The Steel Index is owned by Platts, part of McGraw Hill Financial
Price Guides for Chinese Port Stocks and Domestic Iron Ore
Port Stock Price, 62% Fe import parity
equivalent (US$/dmt)
53.0-54.0
-3.5
505-525
Port Stocks
Iron Ore Stock - Total at Major Chinese Ports (Million Tonnes)
Size
Load Port
Disch. Port
Mar-16
Apr-16
Q1 16
Q2 16
Q3 16
Cal 17
India-China
50kt
Goa
Qingdao
$5.75
$7.00
$7.00
$7.00
$7.00
$7.00
India-China
70kt
Australia-China
150kt
Goa
Qingdao
$4.20
$5.00
$5.00
$5.00
$6.00
$6.00
W.Australia
Qingdao
$3.08
$3.30
$3.40
$3.63
$4.00
$4.00
Brazil-China
150kt
Tubarao
Qingdao
$5.70
$6.13
$6.50
$7.63
$9.00
$9.00
Sinter Fines:
Pricing Point:
Minimum lot size:
Timing:
Payment:
Currency/Units:
Granular size below 10mm for at least 90% of the cargo, with maximum of 40% below 150 micron
CFRFO China port
20,000 metric tonnes
Loading within 4 weeks and delivery within 8 weeks of transaction
At sight
US$ per dry metric tonne
62% Fe Index
62% Fe 2% Al Index
63.5/63% Fe Index
65% Fe Index
62%
8.00%
3.50%
4.00%
0.07%
0.05%
Tianjin
58%
9.00%
1.50%
5.50%
0.04%
0.02%
Qingdao
62%
7.50%
2.00%
4.50%
0.09%
0.02%
Qingdao
63.5/63%
8.00%
3.50%
4.00%
0.07%
0.05%
Qingdao
65%
8.00%
1.00%
3.00%
0.07%
0.05%
Qingdao
Fe content:
Moisture:
Alumina:
Silica:
Phosphorus:
Sulphur:
Delivery port:
Transactions for products with specifications within the following ranges are normalised to the relevant reference product above:
Fe content:
Moisture:
Alumina:
Silica:
Phosphorus:
Sulphur:
>60%-66%
10% max
4% max
9% max
0.15% max
0.07% max
55%-60%
10% max
3% max
8% max
0.10% max
0.05% max
>60%-66%
10% max
4% max
9% max
0.15% max
0.07% max
>60%-66%
10% max
4% max
9% max
0.15% max
0.07% max
>60%-66%
10% max
4% max
9% max
0.15% max
0.07% max
Value-in-use Differentials for Fe and Impurities (Average Spot Market Values for Chinese Imports)
High Grade Fines (60-66% Fe)
Applicable
Range
Average VIU
Differential (US$/dmt)
1-day change
(US$/dmt)
Applicable
Range
Average VIU
Differential (US$/dmt)
1-day change
(US$/dmt)
Per 1% Fe
60-63.5% Fe
0.60
0.00
Per 1% Fe
56-60% Fe
1.00
0.00
Per 1% Fe
63.5-66% Fe
1.00
0.00
Per 1% Al
up to 5% Al
1.00
0.00
Per 1% Al
up to 4% Al
0.65
0.00
Per 1% Si
4-9% Si
0.50
0.00
Per 1% Si
up to 4% Si
0.00
0.00
0.00
0.00
Per 1% Si
4-9% Si
0.25
0.00
0.40
0.00
Data Exclusions*
TSI indices are compiled from data provided by companies that are part of the iron ore
supply chain and involved in spot market transactions. The indices are calculated using
detailed transaction-level data submitted to TSI by these companies. This data is
normalised to the appropriate specifications and screened to remove outliers before
volume-weighted average prices are calculated from the remaining core set of data.
For more details on TSI's iron ore methodology please download the guide published on
our website at: www.thesteelindex.com/en/procedures-methodology/
Contact The Steel Index
SINGAPORE
CHINA
UNITED KINGDOM
UNITED STATES
Tim Hard
asia@thesteelindex.com
Oscar Tarneberg
china@thesteelindex.com
Steven Randall
europe@thesteelindex.com
Kurt Fowler
america@thesteelindex.com
Sources: Barry Rogliano Salles (BRS); China Customs; Freight Investor Services Ltd (FIS); Simpson Spence & Young Ltd (SSY); Platts; Singapore Exchange (SGX), Shanghai
Futures Exchange (SHFE)
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed above) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI retains all
copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
1-day change
1-week change
4-week change
Low*
High*
85.1
= 0.0 0.0%
0.8 -0.9%
7.7 +9.9%
73.4
102.3
75.7
= 0.0 0.0%
0.2 +0.3%
1.4 +1.9%
70.9
93.3
86.5
= 0.0 0.0%
0.8 +0.9%
5.9 +7.3%
77.4
104.7
83.2
= 0.0 0.0%
0.4 +0.5%
4.6 +5.9%
76.7
103.3
82.6
= 0.0 0.0%
0.2 +0.2%
4.3 +5.5%
75.5
98.8
*Past 12 Months
Sep
Oct
Nov
Dec
Jan
Feb
Mar MTD
82.02
79.51
75.12
77.38
76.85
75.92
82.79
73.65
73.96
71.64
72.08
73.07
72.56
74.71
87.53
85.93
80.02
79.60
80.89
78.19
84.22
83.28
83.17
78.53
78.23
79.67
77.00
81.56
80.23
81.61
77.46
77.10
78.30
75.88
80.35
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information.
The Steel Index is owned by Platts, part of McGraw Hill Financial.
Port Congestion
Average Load Time - Australia (days)
This information has been prepared by The Steel Index ("TSI"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or
otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed on the final page) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI
retains all copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
The Steel Index is owned by Platts, part of McGraw Hill Financial.
Australian Exports
German Creek, Goonyella, Hail Creek, Illawarra, Moranbah North,
North Goonyella, Oaky Creek, Oaky North, Peak Downs, Peak Downs
North, Riverside, Saraji, Wollombi and blended coals
Chinese Imports
Blue Creek No.7, Chipanga, Elkview, Elkview II, German Creek,
Goonyella, Grizzly Creek, Hail Creek, Illawarra, Moranbah North, North
Goonyella, Oaky/Oaky Creek, Peak Downs, Peak Downs North,
Premium, Riverside, Saraji, Standard, Wollombi and blended coals
Australian Exports
Burton, Carborough Downs, Curragh, Dawson, Gregory, Lake Vermont,
Mavis Downs, Metropolitan Hard, Tahmoor and blended coals
Chinese Imports
Burton, Carborough Downs, Curragh, Dawson, Gregory, Lake Vermont,
Mavis Downs, Metropolitan Hard, Peace River, Polar Ridge, Tahmoor,
Tuhup, Venture and blended coals
Particle Size:
Minimum Lot Size:
Transport:
Timing:
Payment:
Currency/Units:
CSR:
Volatile Matter (air dried):
Ash (air dried):
Total Moisture (as received):
Sulphur (air dried):
Phosphorous (air dried):
Rvmax:
Fluidity (ddpm):
Free Swelling Index (FSI):
Total Dilatation:
Vitrinite:
G Index:
Y Index:
Premium
Hard
Premium JM25
Mid-Vol JM25
Hard JM25
71%
21.0%
10.0%
10.0%
0.45%
0.05%
1.35%
600
8
80%
68%
-
65%
24.0%
7.5%
10.0%
0.60%
0.06%
1.15%
1100
7
100%
60%
-
71%
21.0%
10.0%
10.0%
0.45%
0.05%
83
16
69%
23.0%
10.0%
10.0%
0.50%
0.04%
80
14
65%
24.0%
7.5%
10.0%
0.60%
0.06%
75
12
Transactions for products with specifications within the following ranges are normalised to the relevant reference product above:
CSR:
Volatile Matter (air dried):
Ash (air dried):
Total Moisture (as received):
Sulphur (air dried):
Phosphorous (air dried):
Rvmax:
Fluidity (ddpm):
Free Swelling Index (FSI):
Vitrinite:
G Index:
Y Index:
67% min
18-25%
11% max
12% max
0.8%max
0.09% max
1.15% min
no limit
7 min
50% min
-
57-67%
16-28%
11% max
12% max
0.8% max
0.09% max
1.00% min
7500 max
6 min
40% min
-
67% min
18-26%
11% max
12% max
0.8% max
0.09% max
65 min
25 max
67-73%
20-26%
11% max
12% max
0.8% max
0.09% max
65 min
25 max
57-67%
20-27%
11% max
12% max
0.8% max
0.09% max
65 min
25 max
Data Exclusions*
TSI indices are compiled from data provided by companies that are part of the coking coal
supply chain and involved in spot market transactions. The indices are calculated using
detailed transaction-level data submitted to TSI by these companies. This data is normalised
to the appropriate specifications and screened to remove outliers before volume-weighted
average prices are calculated from the remaining core set of data.
For more details on TSI's coking coal methodology please download the guide published on
our website at: www.thesteelindex.com/en/procedures-methodology/
Sources: Shanghai Shipping Exchange (China freight rates); Bulk Marine (India freight rates); SSY (Chinese berth waiting times); SX Coal (freight loading times)
The Steel Index is owned by Platts, part of McGraw Hill Financial.
SINGAPORE
CHINA
UNITED KINGDOM
UNITED STATES
Julie Jiang
china@thesteelindex.com
Steven Randall
europe@thesteelindex.com
Kurt Fowler
america@thesteelindex.com
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otherwise obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or
your company or organisation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain
data has been obtained from various sources (listed on the final page) and any copyright existing in such data shall remain the property of the source. Except for the foregoing, TSI
retains all copyright within this document. The copying or redistribution of any part of this document without the express written authority of TSI is forbidden.
The Steel Index is owned by Platts, part of McGraw Hill Financial.
1-week change
4-week change
Low*
High*
412
+1.5%
12
+3.0%
364
476
577
14
+2.5%
33
+6.1%
486
599
615
+0.8%
49
+8.7%
534
668
490
+0.8%
19
+4.0%
449
641
HRC (EUR/tonne)**
338
+1.5%
14
+4.3%
314
405
CRC (EUR/tonne)
426
+1.4%
28
+7.0%
394
492
HD Galv (EUR/tonne)
462
+0.7%
28
+6.5%
430
519
Plate (EUR/tonne)
373
+0.8%
+1.1%
368
493
Rebar (EUR/tonne)
349
+0.3%
-1.7%
346
420
N.Europe (Ex-mill)
S.Europe (Ex-mill)
HRC (EUR/tonne)**
311
13
+4.4%
22
+7.6%
276
400
CRC (EUR/tonne)
410
18
+4.6%
38
+10.2%
350
472
HD Galv (EUR/tonne)
443
+1.1%
28
+6.7%
391
508
Plate (EUR/tonne)
355
16
+4.7%
29
+8.9%
324
472
Rebar (EUR/tonne)
326
+0.6%
22
-6.3%
324
431
Turkey (Ex-mill)
HRC (USD/tonne)
416
16
+4.0%
95
+29.6%
311
442
CRC (USD/tonne)
515
+1.4%
102
+24.7%
404
565
HD Galv (USD/tonne)
638
+1.3%
83
+15.0%
543
665
646
+2.0%
+14.2%
28,666
36,903
32,952
1-week change
4-week change
Low*
High*
HRC (USD/tonne)
343
28
+8.9%
66
+23.8%
256
378
CRC (USD/tonne)
404
25
+6.6%
64
+18.8%
294
447
368
14
+4.0%
73
+24.7%
271
396
CRC (USD/tonne)
414
26
+6.7%
56
+15.6%
307
455
Plate (USD/tonne)
346
-0.9%
71
+25.8%
267
385
*Past 12 months **SAE grade. Price shown is weekly average of daily prices
1-week change
1,825
95
4-week change
-4.9%
175
-8.8%
Low*
High*
1,825
2,228
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Copyright The Steel Index 2016
Average Delivery Lead-Times for Week of March 14 - 20, 2016 (Week 11)
Western Europe (domestic mill)
Average Delivery Lead-Times - N. Europe (Weeks)
ASEAN Imports
China Exports
** HRC delivery lead-times shown for Europe, USA and ASEAN Imports are weekly averages of daily data
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Copyright The Steel Index 2016
Rebar - Billet Price Spreads for Week of March 14 - 20, 2016 (Week 11) **
European Rebar - Black Sea Billet Price Spreads
Europe
1-week change
4-week change
Low*
High*
156
79
14
-15.1%
71
-47.3%
70
53
30
-36.1%
89
-62.7%
53
154
* past 12 months
Rebar prices are TSI weekly prices for Northern and Southern Europe
Black Sea Billet Export prices are weekly averages of daily prices reported by Platts
**Differential between TSI's weekly rebar reference prices (converted into US$ at prevailing exchange rates) and the weekly average Platts FOB Black
Sea Billet Export price
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Copyright The Steel Index 2016
* Monthly averages
To view full price histories over time periods of your choice, log-in to:
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Copyright The Steel Index 2016
* Monthly averages
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Copyright The Steel Index 2016
* Monthly averages
To view full histories of average delivery lead-times visit the website:
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Use of the information presented here is at your sole risk, and any content, material and/or data presented or otherwise obtained through your use of the information
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Copyright The Steel Index 2016
* Monthly averages
UNITED KINGDOM
CHINA
SINGAPORE
UNITED STATES
Vaseem Karbhari
europe@thesteelindex.com
Julie Jiang
china@thesteelindex.com
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asia@thesteelindex.com
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america@thesteelindex.com
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Copyright The Steel Index 2016
February 2015
Summary
Contact TSI:
US HR coil prices continued their slump in February, as spot prices in the US Midwest plummet-
ed to below US$500/short ton. Transaction activity almost ground to a halt in some weeks as the
reality of high inventories in the supply chain and the uncertainty of falling prices began to bite.
Rising spot prices in the European steel market prompted confident producers to push for high-
er offers for Q2 orders. But from the middle of the month weak demand and competitive imports
dampened sentiment and in turn suppressed further coil price rises.
A flurry of export deals closed at lower levels after Chinese mills rushed to secure orders prior
to the Lunar New Year holiday shutdown. After returning from the holidays, the trend reversed
as sellers raised offer levels and still managed to attract some buyers.
Vaseem Karbhari
Tel: +44 20 7176 7667
europe@thesteelindex.com
Terence Soh
Tel: +86 21 5110 5490
china@thesteelindex.com
Kurt Fowler
Tel: +1 412 431 0584
america@thesteelindex.com
TSI Weekly Steel Hot Rolled Coil Reference Prices (change week-on-week)
Benchmark Indices
Feb 2-8
Feb 9-15
Feb 16-22
Feb 23-Mar 01
413
+1.5%
414
+0.2%
410
-1.0%
406
-1.0%
401
+1.5%
405
+1.0%
403
-0.5%
399
-1.0%
409
-4.4%
393
-2.7%
394
-1.0%
391
-0.8%
547
-1.8%
529
-3.3%
519
-1.9%
502
-3.3%
498
0.0%
468
-6.0%
464
-0.9%
454
-2.2%
377
-4.6%
368
-2.4%
365
-0.8%
377
+3.3%
37,594
-1.4%
36,854
-2.0%
36,736
-0.3%
37,062
+0.9%
November
December
January
February
411.15
-2.5%
406.29
-1.2%
405.14
-1.2%
410.70
406.35
-2.8%
393.14
-3.3%
389.62
-3.5%
402.05
+3.2%
497.00
-0.7%
481.23
-3.2%
449.38
-6.6%
398.28
-11.4%
643.30
-1.0%
617.81
-4.0%
583.67
-5.5%
524.25
-10.2%
555.25
-4.2%
521.20
-6.1%
508.50
-2.4%
471.00
-7.4%
463.75
-2.9%
455.20
-1.8%
420.00
-7.7%
371.75
-11.5%
-3.3%
39,004.20
-2.5%
38,565.50
-1.1%
37,061.50
-3.9%
+1.4%
*Average of TSI's daily prices rounded to nearest whole number, **SAE grade
United States
580
550
520
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
490
Apr-14
Indeed, in contrast to last months price decline, the February fall was
accompanied by an acute slowdown in transaction activity. Mills exhibited
textbook price-taker behaviour, accepting almost all bids
regardless of the tons as one market source put it.
610
Mar-14
640
Feb-14
670
Jan-14
Source: TSI
February 2015
USA continued...
Capacity utilisation dipped below the 75% level in February and then fell
sharply to 70.1%, its lowest level since November 2012 according to
initial weekly estimates from the American Iron & Steel Institute (AISI).
As a consequence, the February average was -3.5% lower month-onmonth at 73%.
82
80
78
76
AISI reported a heavy fall in crude steel output (-5.6% m-o-m), averaging 1.565 million metric tonnes in January according to weekly data. As
capacity utilisation rates indicate, there was a significant fall in the second half of the month.
74
Preliminary flat carbon steel import data for February registered a heavy
m-o-m fall of -14% to 1.33 million mt. However, volumes were +27%
higher y-o-y according to data released by the US Dept of Commerce.
68
70
Steel Import Monitor & Analysis (SIMA) February data showed a large
decline in import tonnages from Brazil (-55.6% m-o-m) to just under
67kt and from South Korea (-30.9% m-o-m) to 206kt. There were equally steep declines in import volumes from within the NAFTA region.
Some of this was offset by a strong increase from the Indian subcontinent with volumes totaling 64kt. Japanese data was also higher
(+25% m-o-m) to 77kt.
72
Source: AISI
250
1.6
225
1.2
Despite pressure from lower-priced imports, South European HRC prices remained stable, with TSIs index moving sideways just above the
400/t mark for most of the month. Producers offers stood in the 400405/t range, but prices for larger-volume deals fell closer to the 395/t
mark by the end of the month.
Problems at Ilva continued, with the truck drivers strike blocking deliveries from the production site and allowing other suppliers to fulfil orders
instead. Furthermore, the company announced plans to idle its largest
blast furnace from March 19, leading to output cuts of up to 40%.
Crude steel production in the EU in January totalled 14.4 million tonnes,
posting a -1.1% y-o-y decrease. Spain recorded a strong +12% y-o-y
increase, while both Italian and French crude output fell by 11% y-o-y.
German production grew by +0.5% y-o-y.
According to the German Association of Steel Distribution (BDS), the
pace of restocking in January slowed down compared to the previous
years. Total inventory levels fell to 2.3 million tonnes, -5% lower than a
year before. Sales of flat products in January were 539kt, up significantly on December sales (as is typical each year), but still -11% lower than
in January 2014.
ArcelorMittal reported financial results for Q4 2014 in which the European segment recorded its fourth consecutive quarterly operational profit
of 122 million.
India
175
0.4
Feb-15
Jan-15
Nov-14
Dec-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
Apr-14
May-14
150
Feb-14
0.0
Mar-14
200
0.8
Jan-14
Bucking the global trend, European coil prices increased in the first half
of February, with TSIs North and South European HRC indices reaching 415/tonne and 405/tonne respectively.
16,000
2014
2015
15,000
14,000
13,000
12,000
11,000
10,000
9,000
Jan Feb Mar Apr May Jun
2,300
2,200
2,100
Jan-15
Sep-14
Nov-14
Jul-14
Mar-14
May-14
Jan-14
Nov-13
Sep-13
Jul-13
May-13
Jan-13
Mar-13
Nov-12
Jul-12
Sep-12
Mar-12
May-12
Jan-12
Sep-11
Nov-11
Jul-11
Mar-11
May-11
2,000
Jan-11
Source: BDS
February 2015
Asia
Trade Data
5.0
4.0
3.0
2.0
1.0
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
0.0
35%
650
600
550
-5%
500
480
460
440
420
400
Feb-17
Nov-16
Aug-16
380
May-16
Feb-16
The Turkish Steel Exporters Union reported that the countrys steel
exports during Jan-Feb this year showed a significant decline of -12.8%
y-o-y to 2.6 million tonnes. The Middle East remained the main destination for Turkish exports, accounting for 1.1 million tonnes (+7.1% y-o-y).
Meanwhile, flat steel imports in January increased +10% y-o-y to 562kt.
Source: CISA
Nov-15
But this price level did not prove to be attractive, and by the end of February mills dropped their offer prices again, closer to the US$450/t mark.
Although producers tried to stop price erosion at this level, biggervolume buyers were able to obtain further discounts.
-15%
Aug-15
-10%
400
May-15
Strong competition from international markets, in particular cheaplypriced Chinese and CIS import offers, coupled with sharp falls in scrap
prices, put downward pressure on Turkish domestic coil prices. Faced
with a stagnant market, Turkish mills were forced to decrease their offers and TSIs HRC index fell to US$468/tonne (-US$30/t 1-week
change) by mid-month.
15%
0%
Feb-15
20%
5%
500
Nov-14
Turkey
25%
10%
Aug-14
The Iron & Steel Institute of Thailand reported that steel imports into the
country in 2014 totalled 11.9 million tonnes (-2.9% y-o-y), while exports
stood at 1.4 million tonnes (-3.1% y-o-y). Unsurprisingly, Japan, China
and South Korea were the top three steel exporters into Thailand, with
5.09, 3.39 and 1.47 million tonnes respectively in 2014.
30%
Feb 11-20
Feb 1-10
Jan 21-31
Jan 11-20
Jan 1-10
Dec 21-31
Dec 11-20
Dec 1-10
Nov 21-30
Nov 11-20
Nov 1-10
Oct 21-31
Oct 11-20
Oct 1-10
Sep 21-30
Sep 11-20
Sep 1-10
Aug 21-31
Aug 11-20
Aug 1-10
July 21-31
July 11-20
July 1-10
June 21-30
June 11-20
June 1-10
May 21-31
May 11-20
May 1-10
Apr 21-30
Apr 11-20
Apr 1-10
Mar 21-31
Mar 11-20
Mar 1-10
Feb 21-28
Feb 11-20
Feb 1-10
6.0
450
The Japan Iron and Steel Federation reported that HR coil exports from
the country in January fell by 13% m-o-m to 974kt, a decrease attributed to fierce competition for sales with cheaper-priced Chinese export
offers.
7.0
670
638
639
656
666
657
645
669
670
649
662
660
641
664
668
612
655
652
652
658
643
608
597
599
625
638
650
629
652
618
616
594
598
The Vietnam Steel Association reported that the total production capacity of the countrys steel sector is estimated to be 22 million tonnes, almost double domestic consumption. The association forecast that the
steel sector will register +11.8% growth this year after growing +12% yo-y in 2014.
8.0
May-14
Net Exports
9.0
643
10.0
616
658
606
617
11.0
In the run up to the Lunar New Year holiday some buyers avoided restocking, opting to remain on the side-lines of the market. Mills continuously decreased their offers and TSIs HRC index for Chinese Exports
(FOB China Port) fell to US$365/tonne before the market shutdown in
mid-February. HRC prices started to improve in the final week of the
month in line with the increased offers from producers in the region of
US$10-15/t.
Feb-14
February 2015
Forward Curve
450
440
430
420
410
400
Nov-17
Aug-17
Feb-17
May-17
Nov-16
Aug-16
Feb-16
May-16
Nov-15
Aug-15
Feb-15
May-15
Nov-14
390
Aug-14
Finished steel imports into the EU are estimated to have risen by +19% yo-y in 2014 and Eurofer expects this trend to continue. It forecast that
deliveries from third-country exporters will rise on average +2% per year
in 2015 and 2016.
Actual
460
Feb-14
470
May-14
480
Reporting its operational results, ArcelorMittal forecast that steel demand in Europe will grow by 1.5%-2.5%, with the effect of a weak Euro and
low oil prices helping to boost confidence within the Eurozone.
The CFLP Steel Logistics Professional Committee (CSLPC) expects to see a moderate pick-up in domestic Chinese steel demand by the end of
the month with the re-opening of construction projects from mid-March. However, according to the committee, weakness in domestic steel prices
may remain in the near term due to sharp increases in mills inventory levels and project delays owing to severe weather conditions,
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CHINA
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asia@thesteelindex.com
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china@thesteelindex.com
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