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Kallanish Kallanish

Knowledge matters Knowledge matters

January, 19th 2020

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Weekly Steel

Week 32-19 Aug. 13, 2019

Kallanish Steel Weekly: Scrap/iron ore differential climbing back to $200/t

The differential between the global benchmark for scrap and iron ore has been climbing back rapidly during the last several days, as Chinese iron ore has lost ground while Turkish scrap has remained relatively stable.

At the end of last week the differential between HMS 1/2 (80:20 blend) CFR Turkey …

Week 31-19 Aug. 6, 2019

ArcelorMittal reduces its global steel demand outlook

ArcelorMittal has again reduced its outlook for global demand in 2019. This is mainly due to the persistent uncertainties in key markets such as Europe and despite a better-than-expected performance in Chinese demand.

In its second quarter financial results, the company explains that it expects apparent demand this year to only grow by 0.5-1.5% year-on-year. …

Week 30-19 July 30, 2019

World crude steel output continues to grow

World crude steel production for the 64 countries reporting to the World Steel Association increased 4.6% on-year in June to 158.98 million tonnes.

As in the previous month, Chinese production surged 10% on-year to 87.53mt in June, while Indian output rose 4% to 9.34mt and Japanese production inched up 0.4% …

Week 29-19 July 23, 2019

Elevated iron ore price eats into steel profitability

As most listed steelmakers start announcing their Q2 and H1 financial results, market observers expect to notice overall that profitability has come under increasing pressure in the sector as a consequence of elevated iron ore prices coupled with under-pressure finished steel levels. 
 
Last week the first concrete report of …