Product
January 25, 2013
Hot Rolled Futures- Spot Down Futures Up
Written by John Packard
Written by: Andre Marshall, Crunchrisk
Financial Markets
Latest in Product
Scrap export market activity perks up
There has been an upsurge in Turkish deep-sea scrap buying over the last week for December shipment. Prices paid increased but not as much as the trade expected.cDuring the last week, Turkey-based steelmakers bought at least seven cargoes, largely from the UK and Northern European suppliers, while virtually shunning higher priced US scrap. The initial wave of sales of HMS 80/20 ranged from $395-$398.50 per metric ton (mt) on a CFR basis.
Algoma lands record steel order for Seaspan icebreakers
Algoma Steel has secured a contract to supply up to 24,000 metric tons of structural steel plate for Seaspan Shipyards’ Canadian Coast Guard icebreaker program. The agreement, valued at about $182 million Canadian, covers steel for up to six multi-purpose icebreakers, at ~4,000 metric tons per vessel. Algoma will produce the plate, with Stigterstaal Canada serving as the marine steel processing and distribution partner. The order is the largest polar-class steel order in Algoma’s history, according to the companies.
Commerce amends duties on pipe and tube imports
The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register.
US tweaks import duties on Korean plate
After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea.
Ternium plans February start for new slab mill, sees Mexico prices rising
Ternium SA expects a modest seasonal decline in consolidated steel shipments in the fourth quarter, but sees Mexico revenue per ton continuing to rise with North American steel price trends. The outlook came as the company released its third-quarter earnings report and prepares to start steel shop production at its new Pesqueria slab mill in February. “We are seeing a strong demand in Mexico … strong demand in the US,” CEO Maximo Vedoya said on a conference call on Wednesday to discuss the quarterly earnings. Ternium reported Q3’26 net income of $368 million, compared with $465 million in Q2’26 and a $270-million loss in Q3’25.