International Steel Mills
US OCTG Weakness Affecting Japan & South Korea
Written by Sandy Williams
January 31, 2015
According to The TEX Report, Japan will decrease its shipment of hot rolled coil to South Korea beginning in February. Orders from South Korea for February shipments of HRC have dropped, in some cases by nearly half, due to weakened demand for OCTG in the U.S.
Last year Japan exported 2,045,000 tonnes (2,254,188 net tons) of HRC to South Korea, 30-40 percent for use by pipe mills that export products primarily to the U.S. Hot rolled exports from Japan to South Korea were down 7.7 percent in 2014.
South Korean export of OCTG was not deterred by the imposition of US International Trade Commission anti-dumping duties last summer. Finished steel imports from South Korea totaled 5,370,000 net tons, up 44 percent from 2013, according to data analysis by AISI.
The TEX Report suggests weaker OCTG demand, due to the drop in oil prices, may prompt Korean manufacturers to switch to cheaper Chinese produced hot rolled coil.
The TEX Report, an English daily newspaper published in Japan, reports on various news arising in each sector of raw materials for steel production, trade of steel products, resources and energy.
Sandy Williams
Read more from Sandy WilliamsLatest in International Steel Mills
CRU: Bids made for Ilva assets
The Italian government has received 10 offers for the former Ilva integrated steel works at Taranto, but only two bidders are interested in purchasing all of the company’s assets.
Global steel production declined through August
August marked the second-lowest monthly production rate this year, down 13% from the two-year high of 166.6 million mt in March.
Algoma Steel assesses viability of US sales in wake of 50% S232 tariffs
Canadian flat-rolled steelmaker Algoma Steel is reconsidering its presence in the US market after the doubling of US Section 232 tariffs on imported steel to 50%, a company spokeswoman said.
Nippon plans to double steel output at USS operations: Report
Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.
Global steel mill output steady through May
Global raw steel production rose 2% from April to May, slightly above average production levels seen in recent months, according to data recently released by the World Steel Association (worldsteel).