STEEL MARKET SUMMARY - July WSA Short Range Outlook – Born Into Uncertainty In early June, when the World Steel Association (WSA) released its Short Range Outlook , it said the forecast was being presented at a “time of great uncertainty”. Indeed the WSA warned its figures didn´t include the effects a second wave of the COVID-19 pandemic might have upon the economies of major steelmaking countries. In short, the Association believes steel demand will contract by 6.4% in 2020, dropping to 1,654 Mt (million metric tonnes). In 2021, it expects steel demand will recover to 1,717 Mt, an increase of 3.8% over 2020. “In this minus 6.4% figure we have some growth from China of around 1% (in 2020), so the picture for the rest of the world is not actually as beautiful as minus 6.4%. It is more likely minus 14%,” said Nae Hee Han, the WSA´s Director of Economic Studies, at the Southeast Asia Iron and Steel Institute´s e-conference held in late June. In more detail, the WSA´s Short Range Outlook says: the recovery of steel demand in China will be more visible in the second half 2020 and will be driven by construction, especially infrastructure investment. Meanwhile, steel demand specifically in developed economies will decline by 17.1% this year and will see only a partial recovery of 7.8% next year. Japanese steel demand is expected to contract by double digits in 2020, while Korea´s major steel-using sectors are also likely to see a double digit decline due to falling export markets. Ship building will be the country´s hardest hit sector. The WSA further believes the collapse in world economic activity means India is likely to face an 18% decline in steel demand in 2020, but will rebound by 15% in 2021. Although Australia has thus far mercifully escaped the worst of the human impact of the coronavirus, the economic toll is starting to produce some bleak figures with grave implications for the steel industry. Last week, the Australian Bureau of Statistics (ABS) said the number of dwellings approved in May fell by 16.4% in seasonally adjusted terms. The decline was driven by apartment approvals which were down by 34.5% month on month; a drop of 42.2% since February. The ABS said the value of total building approved fell 13.5% in May in seasonally adjusted terms. Such figures will add to the nervousness at InfraBuild, the Australian operations of Sanjeev Gupta´s international GFG Alliance. Mr Gupta recently said he wants an across-the-board cut of 30% in costs at his Australian interests. After rolling back plans last year for a partial float of InfraBuild, Mr Gupta has reiterated to the Australian Financial Review that an IPO remains on the backburner, but is not ruled out from the near future. Hence the desire to make InfraBuild a leaner and thus more attractive operation. Trade union officials have been told that job losses won´t occur at the Whyalla steelworks, which is not scheduled to be part of any float. Gupta has earmarked Whyalla for a $1 billion upgrade, replacing its blast furnace which was built in 1965 with an electric arc furnace by 2024 as part of its transformation to a “greener” steel facility. In the context of COVID-19 supply chain disruptions, BlueScope Steel´s CEO, Mark Vassella, recently said: “The risk of a COVID-induced surge in dumped steel from our region is very real and would be disastrous for Australian industry and jobs.” In his comments, posted on BlueScope´s website in June, Mr Vassella said an indefensible trend made worse by the coronavirus outbreak was a surge in tariffs and trade barriers used by countries as political weapons. He said all countries should practice free and fair trade. In condemning dumping, he reiterated BlueScope´s full support for the Australian Government´s Anti-Dumping Commission (ADC). Australian Steel News also applauds the existence of and work done by the ADC, whose transparency complies with WTO requirements. However, the balancing act between the competitive interests of domestic producers and importers is not easy for any market: and is made more difficult in Australia where the domestic producers are domestic monopolies with the only alternative being imports. While ever the temptation exists to have a tariff handicap imposed upon your competitors, which can work even during the investigation process before final duties are imposed, the call will be heard for greater scrutiny in the application so the process is not abused. A case in point is ADC action 495A against four independent Turkish rebar manufacturers, recently terminated after more than 18 months. A battle against predatory pricing or dumping against one manufacturer can be understood as the manifestation of a company’s desire to buy market regardless of cost, and as such a genuine case for an anti-dumping action. However, as the number of independent exporters being attacked for dumping increases, the anti-dumping actions begin to smell more like deriving commercial advantage by imposing penalties on the competition, rather than legitimate trade action to defend aggressive, under-priced and targeted imports. Importers would argue that since anti-dumping actions have been brought against rebar imports from Singapore, Indonesia, Malaysia, Thailand, Spain, Korea, China, Taiwan and now four from Turkey, the so-called smell has become a stench. CURRENCY CHANGES Movement since June 1st, 2020 AUD is up 3.0% against USD AUD is up 1.7% against the Euro ASN Volume 3 / Issue 11 Issue Date: July 6, 2020 Prices Effective: July 1, 2020 Australian Steel News “Key Indicators, Pricing and News for the Australian Steel Industry”*
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STEEL MARKET SUMMARY - July
WSA Short Range Outlook ndash Born Into Uncertainty
In early June when the World Steel Association (WSA) released its Short Range Outlook it said the forecast
was being presented at a ldquotime of great uncertaintyrdquo Indeed the WSA warned its figures didnacutet include the
effects a second wave of the COVID-19 pandemic might have upon the economies of major steelmaking
countries In short the Association believes steel demand will contract by 64 in 2020 dropping to 1654 Mt
(million metric tonnes) In 2021 it expects steel demand will recover to 1717 Mt an increase of 38 over 2020
ldquoIn this minus 64 figure we have some growth from China of around 1 (in 2020) so the picture for the rest of
the world is not actually as beautiful as minus 64 It is more likely minus 14rdquo said Nae Hee Han the WSAacutes
Director of Economic Studies at the Southeast Asia Iron and Steel Instituteacutes e-conference held in late June In
more detail the WSAacutes Short Range Outlook says the recovery of steel demand in China will be more visible in
the second half 2020 and will be driven by construction especially infrastructure investment Meanwhile steel
demand specifically in developed economies will decline by 171 this year and will see only a partial recovery
of 78 next year Japanese steel demand is expected to contract by double digits in 2020 while Koreaacutes major
steel-using sectors are also likely to see a double digit decline due to falling export markets Ship building will be
the countryacutes hardest hit sector The WSA further believes the collapse in world economic activity means India is
likely to face an 18 decline in steel demand in 2020 but will rebound by 15 in 2021
Although Australia has thus far mercifully escaped the worst of the human impact of the coronavirus the
economic toll is starting to produce some bleak figures with grave implications for the steel industry Last week
the Australian Bureau of Statistics (ABS) said the number of dwellings approved in May fell by 164 in
seasonally adjusted terms The decline was driven by apartment approvals which were down by 345 month
on month a drop of 422 since February The ABS said the value of total building approved fell 135 in May
in seasonally adjusted terms Such figures will add to the nervousness at InfraBuild the Australian operations of
Sanjeev Guptaacutes international GFG Alliance Mr Gupta recently said he wants an across-the-board cut of 30 in
costs at his Australian interests After rolling back plans last year for a partial float of InfraBuild Mr Gupta has
reiterated to the Australian Financial Review that an IPO remains on the backburner but is not ruled out from
the near future Hence the desire to make InfraBuild a leaner and thus more attractive operation Trade union
officials have been told that job losses wonacutet occur at the Whyalla steelworks which is not scheduled to be part
of any float Gupta has earmarked Whyalla for a $1 billion upgrade replacing its blast furnace which was built in
1965 with an electric arc furnace by 2024 as part of its transformation to a ldquogreenerrdquo steel facility
In the context of COVID-19 supply chain disruptions BlueScope Steelacutes CEO Mark Vassella recently said
ldquoThe risk of a COVID-induced surge in dumped steel from our region is very real and would be disastrous for
Australian industry and jobsrdquo In his comments posted on BlueScopeacutes website in June Mr Vassella said an
indefensible trend made worse by the coronavirus outbreak was a surge in tariffs and trade barriers used by
countries as political weapons He said all countries should practice free and fair trade In condemning dumping
he reiterated BlueScopeacutes full support for the Australian Governmentacutes Anti-Dumping Commission (ADC)
Australian Steel News also applauds the existence of and work done by the ADC whose transparency complies
with WTO requirements However the balancing act between the competitive interests of domestic producers
and importers is not easy for any market and is made more difficult in Australia where the domestic producers
are domestic monopolies with the only alternative being imports While ever the temptation exists to have a tariff
handicap imposed upon your competitors which can work even during the investigation process before final
duties are imposed the call will be heard for greater scrutiny in the application so the process is not abused A
case in point is ADC action 495A against four independent Turkish rebar manufacturers recently terminated
after more than 18 months A battle against predatory pricing or dumping against one manufacturer can be
understood as the manifestation of a companyrsquos desire to buy market regardless of cost and as such a genuine
case for an anti-dumping action However as the number of independent exporters being attacked for dumping
increases the anti-dumping actions begin to smell more like deriving commercial advantage by imposing
penalties on the competition rather than legitimate trade action to defend aggressive under-priced and targeted
imports Importers would argue that since anti-dumping actions have been brought against rebar imports from
Singapore Indonesia Malaysia Thailand Spain Korea China Taiwan and now four from Turkey the so-called
smell has become a stench
CURRENCY CHANGES
Movement since June 1st 2020
AUD is up 30 against USD
AUD is up 17 against the Euro
ASNVolume 3 Issue 11
Issue Date July 6 2020
Prices Effective July 1 2020
Australian Steel NewsldquoKey Indicators Pricing and News
for the Australian Steel Industryrdquo
July 1 2020
2149
996
1105
18100
ANTI-DUMPING NEWS
Measures already in place
ADC ndash Measures
Updates to the public record
ADC ndash Updates
Recent anti-dumping actions
ADC ndash Actions
Request a weekly update from the AustralianGovernment ADC website here
STEEL NEWS HEADLINES
July 3 ndash ReutersChina copper stocks up as steel inventories also rise
July 2 ndash PlattsChina to continue to release import quotas for scrap metal
July 1 - SEAISIKorean steelmakers hit by double whammy
July 1 ndash PlattsSteel markets and manufacturing strengthen in China
July 1 ndash SEAISIEU safeguard system changes come into effect
July 1 ndash PlattsEuropean steel demand slump ndash here to stay Podcast
June 30 ndash MEPSUS steel price recovery comes to a halt
June 30 ndash ReutersEU rejects calls by steel industry to cut import quotas
June 29 ndash PlattsIron ore and steel Q3 China outlook
June 29 ndash ReutersBHP completes first iron ore blockchain trade with Baosteel
June 26 ndash SEAISICrude steel production in Germany falls by 27 in May
June 24 ndash SEAISIChinese steel giant eyes Simandou iron ore mine
June 22 ndash World Steel AssociationMay 2020 crude steel production
For more steel news headlines click here
STEEL COST INDEX (Cost of scrap iron ore and coal in one tonne of steel)
Blast Furnace Index in USD 1
Blast Furnace Index in AUD 1
EAFScrap Index in USD 2
EAFScrap Index in AUD 2
For a detailed explanation of ASNacutes unique Steel and Stainless Steel Cost Indices click here
STEEL AND RAW MATERIALS PRICES (USD per tonne)
Iron Ore 7
Coking Coal 8
Steel Scrap Turkey 9
Steel Rebar Turkey 4
Steel Rebar China 10
Rebar-CFR S-E Asia 11
HRC-CFR S-E Asia 11
USD Change AUD Change
PRICING MOVEMENTS - Since June 1st 2020
STEEL RAW MATERIAL
- Blast Furnace costs 1
- EAFScrap costs 2
STEEL FINISHED PRODUCT
- China Rebar pricing 3
- Turkey Rebar pricing 4
- Non-Ferrous Metals (CuAlNiZn) 5
NON-FERROUS METALS PRICES (USD per tonne Key to Prices 5 + 12)
Copper
Aluminium
Nickel
Zinc
Vanadium FeV80 China (USDkg)
June 1 2020
288
431
297
444
May 1 2020
262
410
273
427
April 1 2020
295
492
253
422
July 1 2020
6016
1593
12555
2007
3000
June 1 2020
5376
1511
12418
1987
2750
May 1 2020
5061
1440
11853
1899
2750
April 1 2020
4772
1463
11220
1843
2650
+ 44
+ 01
+ 40
- 16
+ 41
+ 14
- 29
+ 10
- 46
+ 11
July 1 2020
98
116
263
418
520
423
440
June 1 2020
96
106
263
425
500
414
432
May 1 2020
80
109
242
399
503
402
396
April 1 2020
82
145
224
372
479
395
405
July 1 2020
301
436
297
431
STAINLESS STEEL COST INDEX (Cost of iron ore chromium and nickel in one tonne of stainless steel)
EAF Index in USD 6
EAF Index in AUD 6
July 1 2020
1716
2493
June 1 2020
1645
2418
May 1 2020
1601
2449
April 1 2020
1489
2441
FERRO ALLOY PRICES (USD per tonne Key to Prices 13)
FeCr HC basis 60 Cr 6-8 C ddp NWE
FeMn HC Mn 78 ddp Europe Works
FeSi 75 Si fob China
FeMo 65-70 Mo dp Rotterdam
June 1 2020
1951
1065
1045
20050
May 1 2020
1918
1139
1020
21500
April 1 2020
1786
1083
1055
20975
Australiaacutes leading stockist and supplier of ferro alloys wear plate and accessories
David Osbornedosbornesanwacomau
Tristan Millstmillssanwacomau
FX RATES (Source wwwx-ratescom)
USD AUD
Euro AUD
NZD AUD
FUTURE FX RATES (Banksrsquo estimate of AUD value by the end of Q3 2020)
USD AUD
Euro AUD
NZD AUD
June 1 2020
067
060
107
May 1 2020
064
058
106
April 1 2020
060
055
102
NAB
070
062
109
ANZ
070
060
108
WESTPAC
070
061
108
July 1 2020
069
061
106
CBA
070
061
107
COMPANY SHARE PRICES (In AUD Key to Prices 14)
BHP Group
Bisalloy Steel
BlueScope Steel
May 1 2020
2984
098
960
July 1 2020
3582
095
1154
June 1 2020
3571
088
1122
April 1 2020
3023
075
913
Fletcher Building
Rio Tinto
Sims Ltd
347
9715
797
355
9723
781
332
8259
653
339
8840
617
OFFCUTShelliphellipSteel Around The World
bull GFG Alliance plans to float its subsidiaries Liberty Steel Group and Alvance
Aluminium using their ldquogreenrdquo credentials to attract investors according to GFGacutes
executive chairman Sanjeev Gupta The IPO may take place next year (Platts)
bull Chinese steel company Baowu is seeking to develop the massive Simandou iron
ore mine in Guinea widely considered to be the largest high-grade iron ore deposit
in the world China is the worldacutes largest consumer of iron ore (Miningcom)
bull ArcelorMittal is believed to be one of six bidders in line to purchase the French rail
producer Hayange which was formerly part of the British Steel group Other bids
include UK-based Liberty House and French steel producer Ascoval (Platts)
Telephone (02) 93624088
SANWA CONTACTS
Reinforcing Steels David Roberts drobertssanwacomau
Structural Steel PC Strand Mark Horwitz mhorwitzsanwacomau
Special Steels Tube and Pipe Matt Gilpin mgilpinsanwacomau
Stainless Steel Howard Seligsohn hseligsohnsanwacomau
Flat Products Stuart Robertson srobertsonsanwacomau
Rural Products Liubov Morozova-Sogrine lmorozovasogrinesanwacomau
Wire and Aluminium Steve Wade swadesanwacomau
Ariston Wire Contacts
Wire and Reinforcing Accessories
Fran Liebovitz franaristonwirecomau
Galvanised Mesh and Fencing Products
Ian Jones ianaristonwirecomau
Telephone (02) 93874188
Website wwwaristonwirecomau
Promote Your Business
Advertise In This Space
Contact Mark Maccallum
markmcaletablancacom
Top 10 Steel Producing Countries
Rank Country 2019 Mt 2018 Mt
1 China 9963 9200
2 India 1112 1093
3 Japan 993 1043
4 USA 879 866
5 Russia (e) 716 720
6 South Korea 714 725
7 Germany (e) 397 424
8 Turkey 337 373
9 Brazil 322 354
10 Iran (e) 319 245
Source World Steel Association Million tonnes of crude steel
(e) Annual figure estimated on partial data or non-WSA resource
Dwelling Approvals - May
The Australian Bureau of Statistics has announced
that the number of dwellings approved in May fell
by 164 in seasonally adjusted terms
ldquoThe decline was driven by private sector dwellings
excluding houses which fell 349 in seasonally
adjusted terms The number of dwellings approved
in apartment buildings fell sharply to an 11-year
lowrdquo said Daniel Rossi Director of Construction
Statistics at the ABS
Falls in dwelling approvals were Tasmania 233
Victoria 143 NSW 113 SA 93 WA 89
and Queensland 74 The value of total building
approved fell 135 in May in seasonally adjusted
terms The value of residential building fell 173
KEY TO PRICES
1 Blast Furnace Index is Iron Ore16 mt + Coking Coal09 mt + Scrap015 mt in USD
or converted to AUD Cost BOF
2 EAFScrap Index Steel Scrap113 mt in USD or converted to AUD Cost EAF
3 China Rebar Shanghai Futures Exchange (SHFE) converted to USD at 70 YuanUSD HERE
4 Turkey Steel Rebar Turkey exports FOB Turkish Port ndash One Month USD mt from LME HERE
5 London Metal Exchange (LME) average pricemt for non-ferrous metals CuAlNiZn HERE
6 EAF Index is 70 iron ore 18 chromium and 8 nickel aggregate cost in USD and AUD
7 Iron Ore Fines Bloomberg indicative USD CFR prices for 62 Fe shipping to Qingdao NAB sourced
8 HCC Australian premium low-volume coking coal USD per tonne SampP Global Platts sourced
9 Steel Scrap (Turkey CFR) USD pricing per tonne from LME closing contract price HERE
10 China Steel Rebar SHFE Forward one month converted to USD at 70 YuanUSD HERE
11 SampP Global Platts daily Rebar CFR and HRC CFR to S E Asia in USDtonne
12 Ferro Vanadium 80 China from Vanadiumprice website Figures are USDkilo HERE
13 Mid point price of range on date indicated in USDtonne Source Argus Metals International
14 Australian Stock Exchange end of day quote in Australian dollars HERE
Prices and figures quoted should be taken as indicative numbers only While all care has been taken in
compiling this newsletter readers acting upon the information herein do so entirely at their own risk The
publisher accepts no responsibility for any consequences arising from commercial decisions made by
readers Most of the numeric information in this newsletter is freely available at the sources quoted
Readers are urged to check figures against the original source All comments expressed are the opinion
of the publisher unless otherwise stated Copyright is reserved for the full contents of the newsletter
Australian Steel News particularly acknowledges two of its principal sources of information NationalAustralia Bank (NAB) and South East Asia Iron and Steel Institute (SEAISI)
Australian Steel News (ASN) is a wholly independent monthly newsletter owned and published by
Caletablanca Media ASN and Caletablanca Media are not connected to any steel industry association
company or any other entity in Australia To suggest information you would like to see included in ASN
email asncaletablancacom To add yourself to ASNacutes mailing list email asncaletablancacom with
the word ADD in the subject line To remove yourself from the list email asncaletablancacom with theword REMOVE in the subject line The Caletablanca Media website is wwwcaletablancacom
DISCLAIMER and CREDIT
SUBSCRIBE CONTACT
- ASN Vol 3 Issue 11 Slide 1
- ASN Vol 3 Issue 11 Slide 2
- ASN Vol 3 Issue 11 Slide 4
-
July 1 2020
2149
996
1105
18100
ANTI-DUMPING NEWS
Measures already in place
ADC ndash Measures
Updates to the public record
ADC ndash Updates
Recent anti-dumping actions
ADC ndash Actions
Request a weekly update from the AustralianGovernment ADC website here
STEEL NEWS HEADLINES
July 3 ndash ReutersChina copper stocks up as steel inventories also rise
July 2 ndash PlattsChina to continue to release import quotas for scrap metal
July 1 - SEAISIKorean steelmakers hit by double whammy
July 1 ndash PlattsSteel markets and manufacturing strengthen in China
July 1 ndash SEAISIEU safeguard system changes come into effect
July 1 ndash PlattsEuropean steel demand slump ndash here to stay Podcast
June 30 ndash MEPSUS steel price recovery comes to a halt
June 30 ndash ReutersEU rejects calls by steel industry to cut import quotas
June 29 ndash PlattsIron ore and steel Q3 China outlook
June 29 ndash ReutersBHP completes first iron ore blockchain trade with Baosteel
June 26 ndash SEAISICrude steel production in Germany falls by 27 in May
June 24 ndash SEAISIChinese steel giant eyes Simandou iron ore mine
June 22 ndash World Steel AssociationMay 2020 crude steel production
For more steel news headlines click here
STEEL COST INDEX (Cost of scrap iron ore and coal in one tonne of steel)
Blast Furnace Index in USD 1
Blast Furnace Index in AUD 1
EAFScrap Index in USD 2
EAFScrap Index in AUD 2
For a detailed explanation of ASNacutes unique Steel and Stainless Steel Cost Indices click here
STEEL AND RAW MATERIALS PRICES (USD per tonne)
Iron Ore 7
Coking Coal 8
Steel Scrap Turkey 9
Steel Rebar Turkey 4
Steel Rebar China 10
Rebar-CFR S-E Asia 11
HRC-CFR S-E Asia 11
USD Change AUD Change
PRICING MOVEMENTS - Since June 1st 2020
STEEL RAW MATERIAL
- Blast Furnace costs 1
- EAFScrap costs 2
STEEL FINISHED PRODUCT
- China Rebar pricing 3
- Turkey Rebar pricing 4
- Non-Ferrous Metals (CuAlNiZn) 5
NON-FERROUS METALS PRICES (USD per tonne Key to Prices 5 + 12)
Copper
Aluminium
Nickel
Zinc
Vanadium FeV80 China (USDkg)
June 1 2020
288
431
297
444
May 1 2020
262
410
273
427
April 1 2020
295
492
253
422
July 1 2020
6016
1593
12555
2007
3000
June 1 2020
5376
1511
12418
1987
2750
May 1 2020
5061
1440
11853
1899
2750
April 1 2020
4772
1463
11220
1843
2650
+ 44
+ 01
+ 40
- 16
+ 41
+ 14
- 29
+ 10
- 46
+ 11
July 1 2020
98
116
263
418
520
423
440
June 1 2020
96
106
263
425
500
414
432
May 1 2020
80
109
242
399
503
402
396
April 1 2020
82
145
224
372
479
395
405
July 1 2020
301
436
297
431
STAINLESS STEEL COST INDEX (Cost of iron ore chromium and nickel in one tonne of stainless steel)
EAF Index in USD 6
EAF Index in AUD 6
July 1 2020
1716
2493
June 1 2020
1645
2418
May 1 2020
1601
2449
April 1 2020
1489
2441
FERRO ALLOY PRICES (USD per tonne Key to Prices 13)
FeCr HC basis 60 Cr 6-8 C ddp NWE
FeMn HC Mn 78 ddp Europe Works
FeSi 75 Si fob China
FeMo 65-70 Mo dp Rotterdam
June 1 2020
1951
1065
1045
20050
May 1 2020
1918
1139
1020
21500
April 1 2020
1786
1083
1055
20975
Australiaacutes leading stockist and supplier of ferro alloys wear plate and accessories
David Osbornedosbornesanwacomau
Tristan Millstmillssanwacomau
FX RATES (Source wwwx-ratescom)
USD AUD
Euro AUD
NZD AUD
FUTURE FX RATES (Banksrsquo estimate of AUD value by the end of Q3 2020)
USD AUD
Euro AUD
NZD AUD
June 1 2020
067
060
107
May 1 2020
064
058
106
April 1 2020
060
055
102
NAB
070
062
109
ANZ
070
060
108
WESTPAC
070
061
108
July 1 2020
069
061
106
CBA
070
061
107
COMPANY SHARE PRICES (In AUD Key to Prices 14)
BHP Group
Bisalloy Steel
BlueScope Steel
May 1 2020
2984
098
960
July 1 2020
3582
095
1154
June 1 2020
3571
088
1122
April 1 2020
3023
075
913
Fletcher Building
Rio Tinto
Sims Ltd
347
9715
797
355
9723
781
332
8259
653
339
8840
617
OFFCUTShelliphellipSteel Around The World
bull GFG Alliance plans to float its subsidiaries Liberty Steel Group and Alvance
Aluminium using their ldquogreenrdquo credentials to attract investors according to GFGacutes
executive chairman Sanjeev Gupta The IPO may take place next year (Platts)
bull Chinese steel company Baowu is seeking to develop the massive Simandou iron
ore mine in Guinea widely considered to be the largest high-grade iron ore deposit
in the world China is the worldacutes largest consumer of iron ore (Miningcom)
bull ArcelorMittal is believed to be one of six bidders in line to purchase the French rail
producer Hayange which was formerly part of the British Steel group Other bids
include UK-based Liberty House and French steel producer Ascoval (Platts)
Telephone (02) 93624088
SANWA CONTACTS
Reinforcing Steels David Roberts drobertssanwacomau
Structural Steel PC Strand Mark Horwitz mhorwitzsanwacomau
Special Steels Tube and Pipe Matt Gilpin mgilpinsanwacomau
Stainless Steel Howard Seligsohn hseligsohnsanwacomau
Flat Products Stuart Robertson srobertsonsanwacomau
Rural Products Liubov Morozova-Sogrine lmorozovasogrinesanwacomau
Wire and Aluminium Steve Wade swadesanwacomau
Ariston Wire Contacts
Wire and Reinforcing Accessories
Fran Liebovitz franaristonwirecomau
Galvanised Mesh and Fencing Products
Ian Jones ianaristonwirecomau
Telephone (02) 93874188
Website wwwaristonwirecomau
Promote Your Business
Advertise In This Space
Contact Mark Maccallum
markmcaletablancacom
Top 10 Steel Producing Countries
Rank Country 2019 Mt 2018 Mt
1 China 9963 9200
2 India 1112 1093
3 Japan 993 1043
4 USA 879 866
5 Russia (e) 716 720
6 South Korea 714 725
7 Germany (e) 397 424
8 Turkey 337 373
9 Brazil 322 354
10 Iran (e) 319 245
Source World Steel Association Million tonnes of crude steel
(e) Annual figure estimated on partial data or non-WSA resource
Dwelling Approvals - May
The Australian Bureau of Statistics has announced
that the number of dwellings approved in May fell
by 164 in seasonally adjusted terms
ldquoThe decline was driven by private sector dwellings
excluding houses which fell 349 in seasonally
adjusted terms The number of dwellings approved
in apartment buildings fell sharply to an 11-year
lowrdquo said Daniel Rossi Director of Construction
Statistics at the ABS
Falls in dwelling approvals were Tasmania 233
Victoria 143 NSW 113 SA 93 WA 89
and Queensland 74 The value of total building
approved fell 135 in May in seasonally adjusted
terms The value of residential building fell 173
KEY TO PRICES
1 Blast Furnace Index is Iron Ore16 mt + Coking Coal09 mt + Scrap015 mt in USD
or converted to AUD Cost BOF
2 EAFScrap Index Steel Scrap113 mt in USD or converted to AUD Cost EAF
3 China Rebar Shanghai Futures Exchange (SHFE) converted to USD at 70 YuanUSD HERE
4 Turkey Steel Rebar Turkey exports FOB Turkish Port ndash One Month USD mt from LME HERE
5 London Metal Exchange (LME) average pricemt for non-ferrous metals CuAlNiZn HERE
6 EAF Index is 70 iron ore 18 chromium and 8 nickel aggregate cost in USD and AUD
7 Iron Ore Fines Bloomberg indicative USD CFR prices for 62 Fe shipping to Qingdao NAB sourced
8 HCC Australian premium low-volume coking coal USD per tonne SampP Global Platts sourced
9 Steel Scrap (Turkey CFR) USD pricing per tonne from LME closing contract price HERE
10 China Steel Rebar SHFE Forward one month converted to USD at 70 YuanUSD HERE
11 SampP Global Platts daily Rebar CFR and HRC CFR to S E Asia in USDtonne
12 Ferro Vanadium 80 China from Vanadiumprice website Figures are USDkilo HERE
13 Mid point price of range on date indicated in USDtonne Source Argus Metals International
14 Australian Stock Exchange end of day quote in Australian dollars HERE
Prices and figures quoted should be taken as indicative numbers only While all care has been taken in
compiling this newsletter readers acting upon the information herein do so entirely at their own risk The
publisher accepts no responsibility for any consequences arising from commercial decisions made by
readers Most of the numeric information in this newsletter is freely available at the sources quoted
Readers are urged to check figures against the original source All comments expressed are the opinion
of the publisher unless otherwise stated Copyright is reserved for the full contents of the newsletter
Australian Steel News particularly acknowledges two of its principal sources of information NationalAustralia Bank (NAB) and South East Asia Iron and Steel Institute (SEAISI)
Australian Steel News (ASN) is a wholly independent monthly newsletter owned and published by
Caletablanca Media ASN and Caletablanca Media are not connected to any steel industry association
company or any other entity in Australia To suggest information you would like to see included in ASN
email asncaletablancacom To add yourself to ASNacutes mailing list email asncaletablancacom with
the word ADD in the subject line To remove yourself from the list email asncaletablancacom with theword REMOVE in the subject line The Caletablanca Media website is wwwcaletablancacom
DISCLAIMER and CREDIT
SUBSCRIBE CONTACT
- ASN Vol 3 Issue 11 Slide 1
- ASN Vol 3 Issue 11 Slide 2
- ASN Vol 3 Issue 11 Slide 4
-
FX RATES (Source wwwx-ratescom)
USD AUD
Euro AUD
NZD AUD
FUTURE FX RATES (Banksrsquo estimate of AUD value by the end of Q3 2020)
USD AUD
Euro AUD
NZD AUD
June 1 2020
067
060
107
May 1 2020
064
058
106
April 1 2020
060
055
102
NAB
070
062
109
ANZ
070
060
108
WESTPAC
070
061
108
July 1 2020
069
061
106
CBA
070
061
107
COMPANY SHARE PRICES (In AUD Key to Prices 14)
BHP Group
Bisalloy Steel
BlueScope Steel
May 1 2020
2984
098
960
July 1 2020
3582
095
1154
June 1 2020
3571
088
1122
April 1 2020
3023
075
913
Fletcher Building
Rio Tinto
Sims Ltd
347
9715
797
355
9723
781
332
8259
653
339
8840
617
OFFCUTShelliphellipSteel Around The World
bull GFG Alliance plans to float its subsidiaries Liberty Steel Group and Alvance
Aluminium using their ldquogreenrdquo credentials to attract investors according to GFGacutes
executive chairman Sanjeev Gupta The IPO may take place next year (Platts)
bull Chinese steel company Baowu is seeking to develop the massive Simandou iron
ore mine in Guinea widely considered to be the largest high-grade iron ore deposit
in the world China is the worldacutes largest consumer of iron ore (Miningcom)
bull ArcelorMittal is believed to be one of six bidders in line to purchase the French rail
producer Hayange which was formerly part of the British Steel group Other bids
include UK-based Liberty House and French steel producer Ascoval (Platts)
Telephone (02) 93624088
SANWA CONTACTS
Reinforcing Steels David Roberts drobertssanwacomau
Structural Steel PC Strand Mark Horwitz mhorwitzsanwacomau
Special Steels Tube and Pipe Matt Gilpin mgilpinsanwacomau
Stainless Steel Howard Seligsohn hseligsohnsanwacomau
Flat Products Stuart Robertson srobertsonsanwacomau
Rural Products Liubov Morozova-Sogrine lmorozovasogrinesanwacomau
Wire and Aluminium Steve Wade swadesanwacomau
Ariston Wire Contacts
Wire and Reinforcing Accessories
Fran Liebovitz franaristonwirecomau
Galvanised Mesh and Fencing Products
Ian Jones ianaristonwirecomau
Telephone (02) 93874188
Website wwwaristonwirecomau
Promote Your Business
Advertise In This Space
Contact Mark Maccallum
markmcaletablancacom
Top 10 Steel Producing Countries
Rank Country 2019 Mt 2018 Mt
1 China 9963 9200
2 India 1112 1093
3 Japan 993 1043
4 USA 879 866
5 Russia (e) 716 720
6 South Korea 714 725
7 Germany (e) 397 424
8 Turkey 337 373
9 Brazil 322 354
10 Iran (e) 319 245
Source World Steel Association Million tonnes of crude steel
(e) Annual figure estimated on partial data or non-WSA resource
Dwelling Approvals - May
The Australian Bureau of Statistics has announced
that the number of dwellings approved in May fell
by 164 in seasonally adjusted terms
ldquoThe decline was driven by private sector dwellings
excluding houses which fell 349 in seasonally
adjusted terms The number of dwellings approved
in apartment buildings fell sharply to an 11-year
lowrdquo said Daniel Rossi Director of Construction
Statistics at the ABS
Falls in dwelling approvals were Tasmania 233
Victoria 143 NSW 113 SA 93 WA 89
and Queensland 74 The value of total building
approved fell 135 in May in seasonally adjusted
terms The value of residential building fell 173
KEY TO PRICES
1 Blast Furnace Index is Iron Ore16 mt + Coking Coal09 mt + Scrap015 mt in USD
or converted to AUD Cost BOF
2 EAFScrap Index Steel Scrap113 mt in USD or converted to AUD Cost EAF
3 China Rebar Shanghai Futures Exchange (SHFE) converted to USD at 70 YuanUSD HERE
4 Turkey Steel Rebar Turkey exports FOB Turkish Port ndash One Month USD mt from LME HERE
5 London Metal Exchange (LME) average pricemt for non-ferrous metals CuAlNiZn HERE
6 EAF Index is 70 iron ore 18 chromium and 8 nickel aggregate cost in USD and AUD
7 Iron Ore Fines Bloomberg indicative USD CFR prices for 62 Fe shipping to Qingdao NAB sourced
8 HCC Australian premium low-volume coking coal USD per tonne SampP Global Platts sourced
9 Steel Scrap (Turkey CFR) USD pricing per tonne from LME closing contract price HERE
10 China Steel Rebar SHFE Forward one month converted to USD at 70 YuanUSD HERE
11 SampP Global Platts daily Rebar CFR and HRC CFR to S E Asia in USDtonne
12 Ferro Vanadium 80 China from Vanadiumprice website Figures are USDkilo HERE
13 Mid point price of range on date indicated in USDtonne Source Argus Metals International
14 Australian Stock Exchange end of day quote in Australian dollars HERE
Prices and figures quoted should be taken as indicative numbers only While all care has been taken in
compiling this newsletter readers acting upon the information herein do so entirely at their own risk The
publisher accepts no responsibility for any consequences arising from commercial decisions made by
readers Most of the numeric information in this newsletter is freely available at the sources quoted
Readers are urged to check figures against the original source All comments expressed are the opinion
of the publisher unless otherwise stated Copyright is reserved for the full contents of the newsletter
Australian Steel News particularly acknowledges two of its principal sources of information NationalAustralia Bank (NAB) and South East Asia Iron and Steel Institute (SEAISI)
Australian Steel News (ASN) is a wholly independent monthly newsletter owned and published by
Caletablanca Media ASN and Caletablanca Media are not connected to any steel industry association
company or any other entity in Australia To suggest information you would like to see included in ASN
email asncaletablancacom To add yourself to ASNacutes mailing list email asncaletablancacom with
the word ADD in the subject line To remove yourself from the list email asncaletablancacom with theword REMOVE in the subject line The Caletablanca Media website is wwwcaletablancacom
DISCLAIMER and CREDIT
SUBSCRIBE CONTACT
- ASN Vol 3 Issue 11 Slide 1
- ASN Vol 3 Issue 11 Slide 2
- ASN Vol 3 Issue 11 Slide 4
-
Ariston Wire Contacts
Wire and Reinforcing Accessories
Fran Liebovitz franaristonwirecomau
Galvanised Mesh and Fencing Products
Ian Jones ianaristonwirecomau
Telephone (02) 93874188
Website wwwaristonwirecomau
Promote Your Business
Advertise In This Space
Contact Mark Maccallum
markmcaletablancacom
Top 10 Steel Producing Countries
Rank Country 2019 Mt 2018 Mt
1 China 9963 9200
2 India 1112 1093
3 Japan 993 1043
4 USA 879 866
5 Russia (e) 716 720
6 South Korea 714 725
7 Germany (e) 397 424
8 Turkey 337 373
9 Brazil 322 354
10 Iran (e) 319 245
Source World Steel Association Million tonnes of crude steel
(e) Annual figure estimated on partial data or non-WSA resource
Dwelling Approvals - May
The Australian Bureau of Statistics has announced
that the number of dwellings approved in May fell
by 164 in seasonally adjusted terms
ldquoThe decline was driven by private sector dwellings
excluding houses which fell 349 in seasonally
adjusted terms The number of dwellings approved
in apartment buildings fell sharply to an 11-year
lowrdquo said Daniel Rossi Director of Construction
Statistics at the ABS
Falls in dwelling approvals were Tasmania 233
Victoria 143 NSW 113 SA 93 WA 89
and Queensland 74 The value of total building
approved fell 135 in May in seasonally adjusted
terms The value of residential building fell 173
KEY TO PRICES
1 Blast Furnace Index is Iron Ore16 mt + Coking Coal09 mt + Scrap015 mt in USD
or converted to AUD Cost BOF
2 EAFScrap Index Steel Scrap113 mt in USD or converted to AUD Cost EAF
3 China Rebar Shanghai Futures Exchange (SHFE) converted to USD at 70 YuanUSD HERE
4 Turkey Steel Rebar Turkey exports FOB Turkish Port ndash One Month USD mt from LME HERE
5 London Metal Exchange (LME) average pricemt for non-ferrous metals CuAlNiZn HERE
6 EAF Index is 70 iron ore 18 chromium and 8 nickel aggregate cost in USD and AUD
7 Iron Ore Fines Bloomberg indicative USD CFR prices for 62 Fe shipping to Qingdao NAB sourced
8 HCC Australian premium low-volume coking coal USD per tonne SampP Global Platts sourced
9 Steel Scrap (Turkey CFR) USD pricing per tonne from LME closing contract price HERE
10 China Steel Rebar SHFE Forward one month converted to USD at 70 YuanUSD HERE
11 SampP Global Platts daily Rebar CFR and HRC CFR to S E Asia in USDtonne
12 Ferro Vanadium 80 China from Vanadiumprice website Figures are USDkilo HERE
13 Mid point price of range on date indicated in USDtonne Source Argus Metals International
14 Australian Stock Exchange end of day quote in Australian dollars HERE
Prices and figures quoted should be taken as indicative numbers only While all care has been taken in
compiling this newsletter readers acting upon the information herein do so entirely at their own risk The
publisher accepts no responsibility for any consequences arising from commercial decisions made by
readers Most of the numeric information in this newsletter is freely available at the sources quoted
Readers are urged to check figures against the original source All comments expressed are the opinion
of the publisher unless otherwise stated Copyright is reserved for the full contents of the newsletter
Australian Steel News particularly acknowledges two of its principal sources of information NationalAustralia Bank (NAB) and South East Asia Iron and Steel Institute (SEAISI)
Australian Steel News (ASN) is a wholly independent monthly newsletter owned and published by
Caletablanca Media ASN and Caletablanca Media are not connected to any steel industry association
company or any other entity in Australia To suggest information you would like to see included in ASN
email asncaletablancacom To add yourself to ASNacutes mailing list email asncaletablancacom with
the word ADD in the subject line To remove yourself from the list email asncaletablancacom with theword REMOVE in the subject line The Caletablanca Media website is wwwcaletablancacom
DISCLAIMER and CREDIT
SUBSCRIBE CONTACT
- ASN Vol 3 Issue 11 Slide 1
- ASN Vol 3 Issue 11 Slide 2
- ASN Vol 3 Issue 11 Slide 4
-
KEY TO PRICES
1 Blast Furnace Index is Iron Ore16 mt + Coking Coal09 mt + Scrap015 mt in USD
or converted to AUD Cost BOF
2 EAFScrap Index Steel Scrap113 mt in USD or converted to AUD Cost EAF
3 China Rebar Shanghai Futures Exchange (SHFE) converted to USD at 70 YuanUSD HERE
4 Turkey Steel Rebar Turkey exports FOB Turkish Port ndash One Month USD mt from LME HERE
5 London Metal Exchange (LME) average pricemt for non-ferrous metals CuAlNiZn HERE
6 EAF Index is 70 iron ore 18 chromium and 8 nickel aggregate cost in USD and AUD
7 Iron Ore Fines Bloomberg indicative USD CFR prices for 62 Fe shipping to Qingdao NAB sourced
8 HCC Australian premium low-volume coking coal USD per tonne SampP Global Platts sourced
9 Steel Scrap (Turkey CFR) USD pricing per tonne from LME closing contract price HERE
10 China Steel Rebar SHFE Forward one month converted to USD at 70 YuanUSD HERE
11 SampP Global Platts daily Rebar CFR and HRC CFR to S E Asia in USDtonne
12 Ferro Vanadium 80 China from Vanadiumprice website Figures are USDkilo HERE
13 Mid point price of range on date indicated in USDtonne Source Argus Metals International
14 Australian Stock Exchange end of day quote in Australian dollars HERE
Prices and figures quoted should be taken as indicative numbers only While all care has been taken in
compiling this newsletter readers acting upon the information herein do so entirely at their own risk The
publisher accepts no responsibility for any consequences arising from commercial decisions made by
readers Most of the numeric information in this newsletter is freely available at the sources quoted
Readers are urged to check figures against the original source All comments expressed are the opinion
of the publisher unless otherwise stated Copyright is reserved for the full contents of the newsletter
Australian Steel News particularly acknowledges two of its principal sources of information NationalAustralia Bank (NAB) and South East Asia Iron and Steel Institute (SEAISI)
Australian Steel News (ASN) is a wholly independent monthly newsletter owned and published by
Caletablanca Media ASN and Caletablanca Media are not connected to any steel industry association
company or any other entity in Australia To suggest information you would like to see included in ASN
email asncaletablancacom To add yourself to ASNacutes mailing list email asncaletablancacom with
the word ADD in the subject line To remove yourself from the list email asncaletablancacom with theword REMOVE in the subject line The Caletablanca Media website is wwwcaletablancacom
DISCLAIMER and CREDIT
SUBSCRIBE CONTACT
- ASN Vol 3 Issue 11 Slide 1
- ASN Vol 3 Issue 11 Slide 2
- ASN Vol 3 Issue 11 Slide 4
-
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