The daily news bulletin for the informed wire & cable executive. Reaching a regular audience of 7733 readers in 101 countries. Wire & Cable Industry news Subscribe here for your automatic email   RESOURCES... - Exchange Rates - Info Links - Forex TV - Publication Policy - Email the Editor - Advertising September 7th, 2010  - Market Stats London U.K, - Copper near 4-month high, as demand prospects improve Copper prices rose near four-month highs on Monday as investors bet on improved demand following better-than-forecast jobs data in the United States, the world's largest economy. Benchmark copper for three-months delivery on the London Metal Exchange ended at $7,705 a tonne, from a close of $7,640on Friday, when the metal hit a four-month high of $7,750. U.S. markets were closed for Labor Day. Inventory trends also remain supportive. Last week, copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 4 percent from a week earlier, data showed on Friday. LME stocks fell 800 tonnes to 396,875, exchange data showed on Monday, their lowest since November last year. Meanwhile, the amount of material set to leave LME warehouses stands at around7 percent of total stock levels. September 3rd, 2010  - Market Stats Boston Massachusetts - AOC revenue is expected to grow significantly AOC revenue is expected to build significant growth over the next five years, according to a new report on Active Optical Cables from market research firm Information Gatekeepers Inc. The worldwide recession has had a significant impact on new AOC design starts in the last year, reflected in a fairly modest revenue level of $137 million for 2010. New designs starting in late 2009 as well as designs expected through 2010 will create a strong increase in AOC sales in 2011-12, with slightly more modest increases in the subsequent two years covered in this report. Cumulative AOC revenue for the entire five-year period will be in excess of $7 billion, with over $2.4 billion in 2014 alone. Total AOC counts identified in this report should exceed 1.2 million units in 2010, growing to over 48 million units by 2014. Much of this growth comes from heavier participation from USB and HDMI AOC cables, building off a more modest base of higher ASP InfiniBand AOC cables. September 2nd, 2010  - Market Stats London U.K. - Base metals rise on China manufacturing Base metals rose early Wednesday, powered by Chinese manufacturing data. However, focus remains on weakness in the U.S. economic data which could cap the gains for the metals complex. Major economic data for Wednesday include the ISM Manufacturing index for August which is forecast to drop to 52.8 from 55.5 in July, while the August reading for ISM prices paid is estimated at 55.3 from 57.5 in the prior month. Construction spending on a month-on-month basis for July is likely to come in at negative 0.5% after gaining 0.1% in June. See Extended Story.. September 1st, 2010  - Market Stats Brantford Ontario - Steel prices continue to decline in North America during July The transaction value of flat steel products in United States continued its sharp decline during July. This activity took place against the backdrop of increasing raw material prices during the third quarter. Manufacturers were desperate to acquire material before it gets more expensive. On the other hand, they were making concession for their clients who had larger orders. In Canada, domestic manufacturing activity was very low. Capacity cuts were expected in the near-term in order to match the poor domestic demand pit against healthy supply. Several manufacturers shut down their manufacturing facilities for extended period during August. Long product prices turned down during July almost everywhere. Scrap costs tumbled during June. The reduction in cost of input for manufacturers coupled with generally weak building and construction demand led to low setting values See Extended Story.. August 28th, 2010  - Market Stats Taipei Taiwan - CSC cuts its wire rod prices by TWD 2000 a tonne Taiwan's China Steel Corporation cuts its al killed steel wire rod prices by TWD 2,000 per tonne to TWD 23,000 per tonne. However, current wire rod prices are volatile in the market. Normally, the process fee for wire drawing is about TWD 3,500 per tonne, and the reasonable finish wire price should be TWD 26,500 per tonne. However, the deal price in the market is only TWD 26,000 to TWD 28,000 per tonne. The gap from highest to lowest price level is about TWD 2,000 per tonne and this is very rare to happen. August 28th, 2010  - Market Stats Brantford Ontario - Price volatility in global steel wire rod market. Weak price acceptance in US wire rod market doesn¡¯t bode well for future increases Although demand activity for domestic wire rod has been steadier than other long products, buyers have not fully accepted recent mill price increases. Meps reports that in the Russian Federation, domestic metallurgical plants have continued to operate at reduced capacity. Shipments to the construction and heavy manufacturing sectors have remained sluggish. However, recent sales volumes to the automotive and gas industries have been encouraging. Earlier this year, light vehicle manufacturers and gas pipe fabricators received financial support from the government. Trader procurement rates of flat products have remained stronger than long products, as the construction season comes to an end. Faced with the prospect of losses in September, distributors have begun to adopt pricing positions to lower inventory levels. See Extended Story.. August 24th, 2010  - Market Stats - IGI's AOC Market Report 2010! The Active Optical Cables Market Report 2010 is currently available for purchase here at IGI's website. This year's report is now expanded to include Intel's new Light Peak initiative! AOC revenue is expected to build significant growth over the next five years, according to a new report on Active Optical Cables from market research firm Information Gatekeepers Inc.The worldwide recession has had a significant impact on new AOC design starts in the last year, reflected in a fairly modest revenue level of $137 million for 2010. New designs starting in late 2009 as well as designs expected through 2010 will create a strong increase in AOC sales in 2011-12, with slightly more modest increases in the subsequent two years covered in this report. Cumulative AOC revenue for the entire five-year period will be in excess of $7 billion, with over $2.4 billion in 2014 alone. Total AOC counts identified in this report should exceed 1.2 million units in 2010, growing to over 48 million units by 2014. Much of this growth comes from heavier participation from USB and HDMI AOC cables, building off a more modest base of higher ASP InfiniBand AOC cables. August 24th, 2010  - Market Stats Tokyo Japan - Japan¡¯s Copper Cable Shipments Increase 2.9% in July Japan¡¯s copper wire and cable shipments climbed 2.9 percent in July from a year earlier, gaining for the seventh straight month, as the country¡¯s export- led economy grew. Shipments, including exports and domestic business, increased to 59,700 metric tons last month, from 58,032 tons a year earlier, the Japanese Electric Wire and Cable Makers¡¯ Association said today in an e-mailed statement. Shipments totaled 56,668 tons in June. Prices of copper, used in pipes and wires, rose 13 percent in the past year. Japan¡¯s copper cable shipments for the auto sector gained 11 percent in July from a year earlier and 24 percent for the electronics industry, the industry group said. Vehicle exports rose 38.6 percent in June from a year ago, according to data from the Japan Automobile Manufacturers association. ¡°The outlook remains uncertain¡± as the July data was the smallest monthly gain since February, said Nobuyuki Goto, deputy general manager at the association¡¯s research department. Shipments for the construction sector declined 3.6 percent in July from a year earlier, falling for the 22nd straight month, he said. Second-quarter GDP growth was Japan¡¯s weakest in three quarters, adding pressure on policy makers to safeguard the recovery by expanding fiscal spending and loosening monetary policy to weaken the yen. Japan¡¯s recovery from the recession has been hamstrung by the yen¡¯s climb to a 15-year high against the dollar, threatening profits at exporters including Honda Motor Co. and Sony Corp. August 17th, 2010  - Market Stats Shanghai China - Japanese and S Korean mills may cut Q3 wire rod prices It is reported that, after China's Baosteel released its prices of wire rod products unchanged for September 2010, Japanese and South Korean mills are expected to reduce the export price of wire rod product for the third quarter.According to market insider, the latest wire rod product prices released from Japanese mills and POSCO would not be lower than USD 900 per tonne and USD 850 per tonne CNF. Japanese mills and POSCO have to decline their export price of wire rod product due to acquisition of more orders from Asia. Consequently, the price war has been triggered after Baosteel kept its prices of wire products around USD 750 per tonne for September. However, it still has a deep price gap, even through Japanese mills and POSCO are going to be down their export prices. Their prices will not be accepted by most Taiwanese and Asian buyers. August 14th, 2010  - Market Stats Tokyo Japan - Japanese mills to start Q4 wire rods export talks for Asian destination SteelGuru reports that Japanese integrated steelmakers are expected to start negotiations in the third week of August 2010 on their deals of wire rod exports to Asian destinations for shipments in the October to December 2010 quarter. It is a matter of attention how the Japanese steelmakers maintain adequate prices in the negotiations amid floating rumors of wire rod price reductions by South Korea's POSCO and Taiwan's China Steel Corporation in their domestic sales. See Extended Story.. August 14th, 2010  - Market Stats Shanghai China - Copper Premiums to China drop to four-month low on weak demand. Copper premiums in China, the world¡¯s largest user, slumped to a four-month low this week as higher prices weighed on demand and supplies remained ample. Premiums paid by Chinese importers over the London Metal Exchange cash price dropped to as low as $70 a metric ton on a cost, insurance and freight basis to Shanghai this week, said Grace Qu, a Beijing-based consultant at CRU International Ltd. That¡¯s the lowest level since April and down from this year¡¯s high of $160 last month, she said. Copper in London gained 12 percent in July, when imports of the metal and its products by China climbed for the first time in four months as traders sought profits by buying the metal in London and selling it in Shanghai. The drop in premiums shows an unwillingness to buy overseas metal as it is now unprofitable, said Li Ye, an analyst at Minmetals Starfutures Co See Extended Story.. August 10th, 2010  - Market Stats London - Wireless network traffic in Latin America estimated to rise at 86% compound annual growth rate ( CAGR) Wireless network traffic in Latin America will rise at a CAGR of 86% from 2010-15, representing an increase from 16 petabytes per month to 191 petabytes, consultancy Analysys Mason analyst Terry Norman predicts. The growth rate compares favorably with the 61% CAGR average for emerging markets as a whole, Norman said. "Wireless network traffic is rising [globally], but not at the phenomenal rates that some forecasters have claimed. Our prediction of 10 to 20-fold growth in traffic volume "Wireless network traffic is rising [globally], but not at the phenomenal rates that some forecasters have claimed. Our prediction of 10 to 20-fold growth in traffic volumes over the next five years (depending on the geographical region) is far more likely than claims of 100-fold increases or more. Nevertheless, it is still a dramatic rise and will have a significant impact on operators' strategies," Norman said in a company statement. July 30th, 2010  - Market Stats Singapore - China's SHFE steel volumes dip while most prices continue to rise Platts Singapore reports that traded volumes of steel reinforcing bar and wire rod futures for current contracts dipped on China's Shanghai Futures Exchange Wednesday, as participants remained cautious with prices on an upward trend. "Steel futures prices have remained very volatile. They jumped up last week but retreated over the past two days. Market participants are just not sure of the direction," a Beijing-based industry source said. Rebar turnover totaled 2,228,670 lots, down slightly from 2,228,952 lots Tuesday, data from SHFE showed. The value of the trades was Yuan 93.1 billion ($13.7 billion), compared with Yuan 92.6 billion the previous day. Each lot is equivalent to 10 mt. Wire rod volume was 288 lots, down from 294 lots and their value was around Yuan 11.9 million, compared with Yuan 12.1 million. Each lot is also equivalent to 10 mt. See Extended Story.. July 27th, 2010  - Market Stats Tokyo Japan - Japan’s June copper cable shipments up 5 pct yr/yr Japanese copper wire and cable shipments in June rose 5 percent from a year earlier to an estimated 56,100 tonnes, reflecting firming demand, industry data showed on Friday. It was up 12.9 percent from 49,708 tonnes in May, data from the Japanese Electric Wire and Cable Makers' Association showed. Shipments have been recovering gradually since January 2009 when demand for copper, used extensively in utensils, construction materials and computer chips and often seen as a measure of economic activity, plunged as automakers cut output to cope with the economic crisis. Demand has now recovered to around 80 percent of pre-crisis levels mainly due to brisk domestic demand in electronics and automobile sectors and in China, but persistent deflationary pressure in Japan and sluggishness in the construction sector, a major consumer of the metal, keep the outlook uncertain. There is also a risk that demand in China, the world's top copper consumer and producer, may slow in the October-March second half of fiscal 2010/11, industry officials have said. See Extended Story.. July 15th, 2010  - Market Stats Beijing China - Shagang reduces rebar and wire rod price further It is reported that Shagang issued the pricing for the middle ten days of July recently and the changes are based on the policy released on July 1st. 1. Rebar is cut by CNY 60 per tonne with 14mm to 25mm HRB 335 to stand at CNY 3840 per tonne 2. Wire rod is reduced by CNY 200 per tonne with 6.5mm Q235 to post at CNY 4000 per tonne 3. Coiled rebar is imposed the same cut as for wire rod with 8mm HRB 400 to list at CNY 4100 per tonne The new prices are including vat and will be effective as of July 11th 2010 July 14th, 2010  - Market Stats Beijing China - Wire rod price massacre makes production cut imperative in Chinese steel sector Chinese steelmakers have been trapped in a lasting falling trend amid the clouds of increasing production and lofty stockpiles, and the added up price drops are so big as to offset the effects cast by cancellation of export tax rebates which was issued weeks ago, But the recent falls in domestic steel prices have, take Tianjin’s plate for instance, added up to as much as more than CNY 400 per tonne from CNY 4200 per tonne to 3800 per tonne. The rebate of 11% it enjoyed before the policy is supposed to be shouldered by both the domestic mills and overseas buyers, so that the home-based exporters will in fact suffer 5.5% loss, or some CNY 200 per tonne on the rebate withdrawal. Based on market report, the steel price kept declining last week, with wire rod and rebar falling CNY 40-100 per tonne, and 20mmHRB has dropped to CNY 3833 per tonne on average among 23 major cities. Construction steel and HRC are reportedly going below CNY 3700 per tonne and CNY 3900 per tonne respectively. July 13th, 2010  - Market Stats Vienna Austria - China now world’s largest exporter as well as importer of wire & cable ICF The International Cablemakers Federation reports that in 1998, China exported US$ 0.9 billion of wire and cable products. In 2007, less than ten years later, these exports passed US$ 10 billion and kept rising to US$11.9 billion in 2008. The compound annual growth rate (CAGR) for the rise from 1998 to 2008 is 28%, which compares with a 9 % CAGR for the corresponding ten-year increase in worldwide consumption of wire and cable products. These data are based on international trade statistics in the harmonized code “8544” product category, which includes all insulated wire and cable, along with, insulated conductors fitted with connectors, harnesses, and other cable assemblies. July 10th, 2010  - Market Stats Brantford Ontario - North American steel wire rod prices are dropping North American mill order books are soft and delivery lead times have fallen to four weeks. Demand is slowly reducing, which is to be expected at this time of the year. The escalating price trend in the US has reversed over the last few weeks. The number of import offers has grown, relieving the tightness in supply from domestic sources. In Canada, current spot numbers are $C20 per tonne below the May level. Business conditions are lacklustre. July 10th, 2010  - Market Stats New York City - Steel prices seen dipping further as demand stalls Too much production and not enough demand is driving U.S. steel prices down again, while there is concern over rising Chinese imports, analysts and industry experts say. Charles Bradford, an analyst with Affiliated Research Group in New York, said steelmakers miscalculated demand recovery and brought back too much capacity at mills that had been idled after the 2008 recession. Michelle Applebaum, an analyst with Steel Market Intelligence in Chicago, said uncertainty is driving the market. "Uncertainty inhibits import market share as domestic buyers become reluctant to commit to the three-month lead time for foreign steel. "To the extent that domestic prices are relatively low on a global scale, we expect to see further declines in import market share." But Applebaum said there was concern about the surge in Chinese imports undercutting domestic steel, despite recent changes in export tax rebates. In June, imports of value-added sheet grades from China jumped 23 percent, mechanical tube was up 23.5 percent, line pipe rose ten-fold from May to June. Cold-rolled bar imports surged 71.4 percent from May and stainless steel overall was up 36 percent to the highest level in nearly two years, she said. "To the extent that it was fear driving steel prices down so far over the past few weeks, we see that hope seems to be stemming the declines. "Sustainability of these trends really depends on production cuts in China." July 9th, 2010  - Market Stats Tokyo Japan - Japanese steel exports in May up by 66pct Year on Year According to the Japan Iron & Steel Federation, Japan's export shipments of iron and steel products totaled 3.602 million tonnes in May 2010, up by 66.7% from May 2009 and also up by 2.7% from April 2010, when their values totaled USD 3,682.92 million, up by 79.7%, translating into JPY 342.4 billion, up by 71% Year on Year. Of long products welded and butt welded pipes 113,000 tonnes, up by a factor of 4.4; bars 64,000 tonnes, up by 44.3% from same month 2009; seamless pipes 57,000 tonnes, up by 79.5% Year on Year and wire rods 42,000 tonnes, up by 88.1% Year on Year. In the breakdown of the total export shipments by main destinations, South Korea took 938,000 tonnes, up by 34.2% Year on Year; China 609,000 tonnes, up by 31.8% YoY; Thailand 460,000 tonnes, up by a factor of 4.6; Taiwan 249,000 tonnes, up by 10% YoY and the USA 147,000 tonnes, by a factor of 2.5. July 6th, 2010  - Market Stats Pittsburgh Pennsylvania - Wire rod market in cost/demand pull AMM.com said Friday US wire rod prices are expected to remain flat or fall slightly in July as market participants speculate whether strong mill order books and lead times will offset falling scrap tags. "If scrap prices fall, there could be some rod price erosion but probably not dollar for dollar. The mills are booked solid through August so they will likely keep some for margin improvement," said a mill executive. Solid demand and long lead times at the mills have combined to keep prices steady since April. Transaction prices for mesh-quality low-carbon wire rod are at $34.50 per hundredweight f.o.b. mill, according to market sources, while industrial-quality, low-carbon rod is $35.50 per cwt, high-carbon rod is $39 per cwt and cold-heading quality rod is $42 per cwt. June 30th, 2010  - Market Stats Shanghai China - Copper dragged down by tumble in China stocks London copper fell 3 percent on Tuesday while Shanghai copper was down nearly 2 percent, dragged down by a firmer dollar and sharp falls in China's stock market amid worries about the economic recovery. The Shanghai Composite fell more than 4 percent and broke below a near-term support level, as investors pulled fund from the market to prepare for a major IPO by Agricultural Bank of China. "It's the stock market that is dragging down the metals, even though copper's fundamentals are not bad," said a Shanghai-based trader, adding that copper might move even lower in the short term. Europe's financial crisis also remains a concern, as banks are due to repay nearly half a trillion euros to the European Central Bank on Thursday, leaving a potential liquidity shortfall in the financial system of over 100 billion euros. These concerns boosted the dollar, adding to the pressure on metals prices ahead of what are expected to be weak U.S. non-farm payrolls at the end of the week. Shanghai's benchmark third-month copper futures contract fell 1.9 percent to close at 52,940 yuan a tonne, retreating from a near one-month high of 54,490 yuan in the previous session. Three-month copper on the London Metal Exchange fell to $6,675 a tonne by 0701 GMT, down nearly 3 percent. The Shanghai-LME arbitrage closed, and LME stood at a premium of 127 yuan over Shanghai. June 28th, 2010  - Market Stats Tokyo Japan - Japan hikes Q3 wire rods price for Asia by USD 150 a tonne SteelGuru reports that Japanese integrated steelmakers have nailed down price increases of USD 100 to USD 150 a tonne so far in negotiations on their deals of wire rod exports to Asian destinations for July to September 2010 shipments, successful price increases that virtually equal the price increases on offer. Indications are that the Japanese steelmakers will finish most of the negotiations within June. See Extended Story.. June 23rd, 2010  - Market Stats Tokyo Japan - Japan’s copper cable shipments climb for the fifth consecutive month Japan’s copper wire and cable shipments climbed 11 percent in May from a year earlier, gaining for the fifth straight month, as the country’s export- led economy grew. Shipments, including exports and domestic business, increased to 49,700 metric tons last month, from 44,767 tons a year earlier, the Japanese Electric Wire and Cable Makers’ Association said today in an e-mailed statement. Shipments totaled 56,200 tons in April. Copper, used in pipes, tubes and wires, has risen 37 percent in the past year as stimulus measures helped the global economy recover from recession and bolster demand. Japan last week raised its assessment of the economy for the first time in three months amid signs the nation’s recovery is sustainable. See Extended Story.. June 22nd, 2010  - Market Stats Beijing China - Domestic steel prices in China slide sharply in early June According to the data revealed by National Bureau of Statistics of China, prices for steel and petroleum products presented an overall large decline from late May to early June. In fact, the automobile output and house construction rate eyed a notable decline impacted by national macro control policy and a slowdown in economic growth, leading a price reduction in downstream steel industry. Data shows, domestic large and middle carbon steel slide by 3.6% to 13.1% from May 21st to June 10th and that of small sized wire rod down by 4.4% MoM to 7.3% MoM. Prices for rebar arrived at CNY 3,532.4 per tonne to CNY 3,760.8 per tonne on average decrease by 3.6%MoM to 7.3%MoM, of this, iron ore prices (Fe 56%) stood at CNY 580.4 per tonne down by 6.5% during the same period. In the sector of non-ferrous metal, prices of copper and aluminum ingot came at CNY 42,692.3 per tonne and CNY 11,421.5 per tonne declining by 6.5% and 6.2% respectively from one month before. Meanwhile, the ex-mills price for cement arrived at CNY 248.9 per tonne to CNY 378 per tonne down by 1.8%MoM to2.1%MoM and that of anthracite coal at CNY 452.7 per tonne up by 1.1% in the same comparison. June 15th, 2010  - Market Stats Beijing China - Steel prices decline for seven consecutive weeks On June 9, Wuhan Iron and Steel and Anshan Iron and Steel, reduced prices of their main products by 300 yuan to 1,200 yuan, respectively, after Baosteel cut their prices to the same amount. Data released by the General Administration of Customs on June 10 shows that China had only imported 52 million tons of iron ore in May, the first decline since April and the first decline over the same period of last year. According to data from the Beijing Lange Steel Information Research Center, China's steel products market has decreased steel prices for seven consecutive weeks, with the average price of long steel products and steel sheets declining to 5,185 yuan per ton on June 4, down 428 yuan per ton from the end of April. See Extended Story.. June 12th, 2010  - Market Stats Tokyo Japan - Japanese steel export in April up by 62pct YoY According to the Japan Iron & Steel Federation, Japan's export shipments of iron and steel products totaled 3,506,000 tonnes in April 2010, up by 62.8% YoY but down by 16.7% MoM, indicating a YoY increase for nine consecutive months, when their values totaled USD 3,485.59 million, up by 60.3% YoY. In terms of yen, the values totaled JPY 322.7 billion, up by 45.8% YoY. Of the total export shipments, ordinary steel products accounted for 2,411,000 tonnes, up by 75.6% YoY. Of the ordinary steel products exported, HR coils made up 753,000 tonnes, up by 71.3% YoY, galvanized sheets 483,000 tonnes, up by a factor of 2.4, heavy plates 267,000 tonnes, up by 3.7% YoY; CR coils 348,000 tonnes, up by a factor of 2.3; welded and butt welded pipes 93,000 tonnes, up by a factor of 3.8; shapes 61,000 tonnes, up by 52.0% YoY; electrical sheets 74,000 tonnes, up by 68.6% YoY; bars 56,000 tonnes, up by 26.1% YoY; wire rods 41,000 tonnes, up by 56.4% YoY and seamless pipes 54,000 tonnes, down by 4.9% YoY. In the breakdown of the total export shipments by main destinations, South Korea took 885,000 tonnes, up by 31.4% YoY; China 674,000 tonnes, up by 35.7% YoY; Thailand 374,000 tonnes, up by a factor of 3.6; Taiwan 300,000 tonnes, up by 43.8% YoY and the USA 123,000 tons, up by a factor of 2.4. June 11th, 2010  - Market Stats Taipei Taiwan - Steel makers raises wire rod price in soft market because of escalating input cost SteelGuru reports that Taiwan's Feng Hsin Iron & Steel is going to increase its latest price of wire rod by TWD 800 to TWD 1,000 per tonne. The company indicated that they will adjust the prices according to the high cost of raw materials. According to the mill, the current base price for wire rod is TWD 25,400 per tonne and al killed wire rod price is TWD 25,900 per tonne. The price is much lower than China Steel Corporation's latest offer. As a result, the company will decide to raise price soon. June 10th, 2010  - Market Stats London U.K. - North America composite carbon steel price says steel prices peaked in May and will remain flat Meps said in its steel forecast that North American Average All Products Composite transaction value moved up marginally in May. Long products prices remained relatively stable as a decline in scrap costs dampened market sentiment. Increases were noted for most flat categories in may, despite lower mill sales volumes. Many customers are concerned that the current price levels may be unsustainable in the short term. The weakening demand for raw materials has prompted us to make a downward revision to our short term predictions. See Extended Story.. June 10th, 2010  - Market Stats Tranås Sweden - Steel capacity glut continues to depress South China wire and rebar prices 3Q expected to hit prices hard SteelGuru reported yesterday that in the recent week, Chinese domestic steel price is still going down. Although steel mills have already taken the initiative to stop the price fall, the price inversion between factory price and market price still exists, and the adjusting stage will last longer than predicted. Squeezed by both iron ore price and steel price, the third quarter of this year is supposed to be the toughest time. Leading Chinese steel markets like Shanghai and Beijing are experiencing a slow price fall, and the steel futures prices are also declining, which combined together are dragging down other markets, for instance, the prices of main steel species are all in the downward trend. Because of the apparent steel price inversion between factory price and market price, some steel mills are actively lowering the factory price. They expect that this round of steel price adjusting will last for some more time, and the state of consolidation can hardly be over in the short term. According to the analysis, the prices of rebar and wire rod in Chinese market still unstably go down, especially in the west-south and the middle-south markets which expect a decline of CNY 150, and the decline in other markets is controlled within CNY 100. After several weeks of price fall, now the steel market is showing its weakness. June 9th, 2010  - Market Stats Taipei Taiwan - Taiwan finished wire price increased to TWD 32500 a tonne SteelGuru reports that al killed steel wire finished products in Taiwan has increased to TWD 32,500 per tonne thanks to strong growth on fastener orders from overseas market. The market players said that currently good imports of al killed steel wire rod are few, and supply of CSC can't meet current demand. Earlier China Steel Corporation announced to hike al killed steel wire rod price by TWD 300 per tonne. June 7th, 2010  - Market Stats Shanghai China - Steel inventories exerting downward pressure on prices in China China’s steel market is presently depressed by both weak demand and surplus supply, with serious price inversion, but iron ore price is more likely to rise. Under multiple pressures, China’s main steel agencies all believe that the June steel market is hard to find its way out of the adjusting stage. Although the downward space is limited, it is quite likely that steel price will fall again in late June, duet to the current cost and demand relation. A second round of destocking is expected. By contrast, China’s domestic steel production is continuously hitting new highs, while downstream demand in April was falling. two factors that have resulted in high inventory since the beginning of the year. According to Usteel statistics by the end of May, steel stock in Chinese market is still quite high. The total steel volume of five major product segments thread, wire, cold roll, hard roll and plate is approaching 16million tonne. Last year, the real demand is lower than the apparent consumption, and huge stocks are accumulated. This year, the consumption level is still low, and some steel mills are asking agents to increase orders, as exports fall. So, the overall steel market will still be under high pressure lately. June 3rd, 2010  - Market Stats Washington D.C. - US steel wire rod imports drop in April According to preliminary census data from the US Department of Commerce's Steel Import Monitoring and Analysis System, the country's wire rod imports in April this year amounted to 102,605 metric tons, decreasing by 15.22 percent as compared to final data for March and increasing by 3.75 times year on year. In April, Canada was the largest wire rod import source of the US, with a volume 35,831 metric tons, which is 3.84 percent lower compared to the previous month and up 135.45 percent year on year. Canada was followed by Turkey, with wire rod imports from this country amounting to 19,902 metric tons, down 36.69 percent month on month and up from 259 metric tons in April 2009. The country's other major wire rod sources in April were Japan, Spain, Brazil, Italy and Mexico. June 3rd, 2010  - Market Stats Beijing China - Shagang announces steel prices for early June 2010 Shagang announces steel price policy for early June based on May 1st and May 21st price change. 1. High speed wire rod unchanged 6.5mmQ235 high speed wire rod ex-works price hit CNY 4300 per tonne at present. 2. Rebar unchanged 14mm to 25mmHRB335 rebar is quoted at CNY4050 per tonne 14mm to 25mmHRB400 rebar at CNY4170 per tonne. 3. Coiled rebar unchanged 8mmHRB400 coiled rebar ex-works price hit CNY4450 per tonne. 4. Hard wire rod down CNY100 per tonne 30MnSi unchanged 82B down by CNY150 per tonne 6.5mm45 hard wire rod is quoted at CNY 4650 per tonne 30MnSi at CNY4620 per tonne 82B at CNY4790 per tonne 5. Large bundles of quality wire unchanged June 2nd, 2010  - Market Stats Taipei Taiwan - Taiwanese steel wire rod producers buck mainland price trend SteelGuru reports that after China Steel Corp announced new price for wire rod Taiwanese wire rod mills such as Yieh Hsing and Quintain Steel will also offer the new price soon. As CSC greatly hiked its wire rod price by TWD 1,777 per tonne this time it is predicted that other wire rod makers might raise the prices by TWD 500 to TWD 1,500 per tonne. Quintain Steel is very likely to raise its price by TWD 1,000 to TWD 1,500 per tonne. As to Yieh Hsing the possible increase will be in the range of TWD 500 to TWD 1,000 per tonne. June 1st, 2010  - Market Stats Brussels Belgium - European rod producers will not lower prices despite weakening demand. SteelGuru notes that while we have seen a growing gap between domestic and import prices in Europe this week the main EU domestic producers are not giving any sign of will in decreasing prices, with some of them like ArcelorMittal even announcing further increases for beginning of June, relevant to August deliveries, prices offered from import are substantially decreasing. However, the weakness of Euro against USD is helping to keep nominal prices still unworkable for many buyers. All in all the situation seems extremely deteriorated, however the low level of stocks that is a common denominator for all main EU markets still gives the hope that beginning of June a new shift of purchases could revive the entire market and determine a generalized price increase. The announced Chinese cut to the export tax rebate, if implemented, will definitely help to improve the sentiment. June 1st, 2010  - Market Stats Brantford Ontario - North American wire rod prices still on the rise North American rod supply is tight in the US but no shortages are reported. Although the price tendency is, once more, positive, the rate of escalation has slowed dramatically. The number of import offers has grown. In Canada, current spot numbers are $C20 per tonne above the April level. However, business conditions are lacklustre. MEPS said it expects global steel prices to have peaked in May Although US mills continue to boost output, service centres report a minor softening in demand as they head into the summer. Overall, the recovery is still looking quite fragile, with only the automotive sector showing any sign of real strength. We continue to monitor some upward developments in transaction figures for strip mill products. However, prices appear to be reaching a plateau. With delivery lead times still relatively short, distributors are able to keep their inventories quite low without running the risk of supply shortfalls. The Canadian steelmakers report strong activity with full operations through May. Order intake remains good, although slightly reduced from the very high levels of the first quarter. Customers are saying that demand is somewhat weak and continue to buy only for their immediate requirements. However, automotive schedules are moving well ahead of 2009 and construction is gearing up a little early due to the mild spring season. Offshore importers are concluding some modest business, mainly in the west of the country. Local producers have gained small transaction rises over the last four weeks and expect that pricing will move higher next month, reflecting soaring costs for scrap and iron ore. However, buyers feel that values may be nearing their peak, pointing out that, overall, the recovery remains tenuous. June 1st, 2010  - Market Stats New Delhi India - SAIL says steel prices set to fall Steel Authority of India (SAIL), the country’s largest steel producer, has hinted at a reduction in prices in line with the downward trend overseas. “In the last three to four weeks, global steel prices have weakened to the extent of $80 -100 (Rs 3,705-4,631). It is a natural phenomenon that if the prices in the international markets come down, steel prices will be impacted in India also,” S K Roongta, chairman, SAIL, said. He did not disclose the extent of the reduction in the prices. Another factor that is likely to impact the steel prices in the coming weeks is the reduced input cost of steel. In the last fortnight, spot prices of iron ore fines have dropped by about $40 a tonne and coking coal by $20 a tonne. At present, ore prices are hovering at $140 a tonne and coking coal at $240 a tonne. SAIL imports most of its coking coal needs and, from the first quarter of 2010-11, import contracts have started to be settled on a quarterly basis as compared with yearly contracts till last year. The coking coal contracts are up for review for the July to September quarter. If the coking coal prices remain weak, there could be a further decline in the prices of long and short steel products produced by SAIL, which will have impact on the pricing of other steel companies in India. June 1st, 2010  - Market Stats Shanghai China - Government efforts to cool the economy starting to depress steel prices The Chines government’s measures to cool the economy have negatively impacted steel prices over the last month. Moreover, steelmakers' stocks continue to climb and some downstream consumers still have tonnages purchased when values were lower. Overseas business has declined as demand in major export markets remains soft. May 21st, 2010  - Market Stats Minsk Belarus - Belarus issues 4 months steel production results According to the data released by Belarus National Statistical Committee, in the first four months of 2010 the country crude steel production reach 883,300 tonnes down by 2.4%YoY and finished steel product output reach 792,000 tonnes down by 8.3%YoY. In January to April this year, Belarus output of steel pipes increased by 78.1%YoY to 52,800 tonne including 34,500 tonnes of seamless pipes up by 180.7%YoY. On the other hand, the country steel wire rod output reach 22,600 tonnes down by 20.1% YoY steel cord production reach 30,500 tonnes down by 1.5%YoY respectively. Compared to March this year, the country crude steel output in April increased by 8.9% while its finished steel products output went down by 10.9%, its pipe production decreased by 23.7%, its steel wire rod output declined by 15.2% and its steel cord production went down by 30.9%. As of May 1st this year, Belarus steelmakers had accumulated 4,500 tonnes of steel pipes in their warehouses, a figure which equals 40% of their average monthly pipe production volume. The total value of steel products accumulated in the warehouses of local steelmakers as of May 1st this year amounted to BYR 113.2 billion. May 20th, 2010  - Market Stats London U.K. - 20 Copper market in 135,000 T surplus in Jan-March-WBMS says The global copper market recorded a surplus of 135,000 tonnes in the first quarter of this year, versus a 146,100 tonnes of surplus same period in 2009, the World Bureau of Metal Statistics (WMBS) said on Wednesday. In the first three months of 2010, refined copper production was 4.71 million tonnes and consumption was at 4.58 million tonnes, the British-based consultancy said in a monthly report. May 17th, 2010  - Market Stats Taipei Taiwan - Taiwanese finished wire price up by TWD 500 a tonne Yieh.com reports that although al killed steel wire rod price remained unchanged, Taiwan's Al killed finished wire price has increased by TWD 500 per tonne this week. The current al killed finished wire price stands at TWD 32,000 per tonne. The buyers still think the new price is too high compare to other import sources. Therefore, buyers didn't want to take risk to purchase and will wait for the new wire rod price from China Steel Corporation for July and August shipments. Meanwhile it is reported that mainland china rod producers are under pressure and some has reduced announced May prices in the middle of the month May 12th, 2010  - Market Stats Washington D.C. - The Military/Aerospace market for cable assemblies has been strong for 5 years The military/aerospace market for cable assemblies has been a good market to serve over the last five years. This segment represented approximately 7.9 percent of the worldwide market for cable assemblies in 2009, at a value of $6,933 million. It has had stable growth of two to three percent, other than 2009, when it declined the least of all the market segments, at 9.3 percent. In 2009, China had the most growth, at two percent, and Europe had the largest decline, of 20.3 percent. On the average, governments worldwide have consistently spent approximately 2.6 percent of the global gross domestic product on military expenditures over the last five years. Several factors impacted the market in 2009 and some of these factors will continue to be in force in 2010. See Extended Story.. May 8th, 2010  - Market Stats Boston Massachusetts - Market for Fiber Optics in Military & Aerospace Avionic Systems The military and aerospace market for fiber optics components, subsystems, and systems is just starting to take off according to a new report from IGI Consulting. IGIC has produced the only available market research study devoted to Military and Aerospace Fiber Optics in Avionic Systems. The report includes both military and commercial aircraft including fighter aircraft, transport aircraft, UAVs and commercial aircraft. IGIC estimates the total fiber optic market for these two markets at $306 million in 2009, growing to $703 million in 2013. This increase in total market is due to a number of factors including greater acceptance of this new technology driven by the rapid acceptance and developments in the telecommunications field. Other factors include the need to reduce size and weight, the need for higher bandwidth, and the opening of the UAV market. Despite the desire to use more fiber in aircraft, specific military and aerospace requirements present major barriers. These include the unavailability of COTS, lack of hardened components for the military and aerospace environment, available test and maintenance procedures and the availability of low cost, easy to use test and measurement equipment. May 8th, 2010  - Market Stats Vienna Austria - Remarkable 10 Year Transition China now exports US$10 Billion of Wire & Cable CIF’s latest news letter notes that in 1998, China exported US$ 0.9 billion of wire and cable products. In 2007 – less than ten years later – these exports passed US$ 10 billion and kept rising to US$11.9 billion in 2008. The compound annual growth rate (CAGR) for the rise from 1998 to 2008 is 28%, which compares with a 9 % CAGR for the corresponding ten-year increase in worldwide consumption of wire and cable products. These data are based on international trade statistics in the harmonized code “8544” product category, which includes all insulated wire and cable, along with, insulated conductors fitted with connectors, harnesses, and other cable assemblies. See Extended Story.. May 6th, 2010  - Market Stats London U.K. - Speculators getting creamed as LME copper hits near 3 month low at $6,700/T Copper tumbled to two-month lows under $7,000 a tonne on Tuesday as the dollar rallied against the euro on worries over euro zone debt and the base metals market fretted about monetary tightening in China. Wednesday morning fall from Tuesday continued. Sister metals zinc and lead hit multi-month lows, falling more than 6 percent, against the backdrop of the fall in copper and rising London Metal Exchange inventories. Nickel also sank more than 6 percent as stocks increased. The euro tumbled to a one-year low against the dollar on Wednesday on fears aid for Greece may not prevent debt crises in other euro zone countries. A stronger dollar makes dollar-priced metals costly for non-U.S. buyers. "People are very scared about the impact of potential contagion from Greece. If it's inflationary, commodities should go up (but) at the moment, the deflation camp is winning the argument," said Lars Steffensen, managing director at UK fund Ebullio. "The ECB are accepting any Greek paper, they've started the printing press, but the reason you're not seeing inflationary rallies is people don't believe they're going to do it for Spain." Also weighing on copper, China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to remove excess cash in the economy at a time when inflation is on the rise. China is the world's largest copper consumer. "Copper is still up 100 percent year on year, if we are heading into a period with tighter moentary policy in China then we might see some further corrections," said Martin Vorgod, a trader at Danske Bank. "Manufacturing is what really counts for base metals," a London-based metals trader said. Also a plus is the longer-term trend of falling stocks in LME warehouses for some metals. Copper stocks are down more than 58,000 tonnes since the middle of February to 496,975 tonnes, while aluminium stocks are down 111,200 tonnes since hitting a record high above 4.640 million tonnes on Jan. 21. May 5th, 2010  - Market Stats Taipei Taiwan - Yieh Hsing to hike wire rod prices by TWD 1000 a tonne SteelGuru reports that Taiwan's Yieh Hsing Enterprise is expected to hike its wire rod prices by at least TWD 1,000 per tonne for May 2010. The company increased its wire rod prices by TWD 1,200 to TWD 1,500 per tonne. Currently, the prices of all the wire rod products have gone up about TWD 1,500 per tonne since last announcement of China Steel Corporation. Therefore, it is expected that Yieh Hsing's new prices for May shipment will surely increase. May 5th, 2010  - Market Stats Seoul South Korea - POSCO hikes domestic steel price for May shipments TEX reported that POSCO intends to execute domestic price increases of various steel products, effective with May 3rd 2010 shipments, large scale price revisions for the first time since May last year when the company priced down its products. The price increases to take effect by the ton are KRW 170,000 to KRW 850,000 for HR coils, KRW 180,000 to KRW 965,000 for CR coils, KRW 180,000 to KRW 1,065,000 for hot dip galvanized sheets, KRW 80,000 to KRW 900,000 for heavy plates and KRW 170,000 to KRW 890,000 for wire rods. So far, the new prices of products such as electrolytic galvanized sheets and electrical sheets are unknown in Tokyo. Still, it is understood that non oriented electrical sheets are subject to a price increase of KRW 100,000. April 30th, 2010  - Market Stats London U.K. - Eurozone debt concerns rattle industrial metals Copper falls as investors fretted about the health of euro zone economies while Greece struggles to control its heavy debt burden. The metal earlier hit a one-month low and aluminium hit its lowest in over two months after a downgrade of Greece's credit ratings on Tuesday rattled global markets. Copper had staged a slight recovery during the session, tracking the euro which briefly regained ground against the dollar, on some optimsim that Greece will soon receive assistance to help it manage its debt. But the respite was short-lived. Copper and the euro resumed losses in late trade after rating agency Standard & Poor's downgraded Spain's credit rating. See Extended Story.. April 26th, 2010  - Market Stats Anshan, Liaoning, China - Angang Steel hikes May steel prices Angang Steel raised the May prices of wire rod, hot-rolled steel and medium plates by 500 yuan per ton, 300 yuan per ton and 450 yuan per ton respectively, reports China Securities Journal, citing a company announcement. The May price for cold-rolled steel will remain unchanged. According to Hu Chengwu, an analyst from custeel.com, the increase in May steel prices reflects soaring prices of iron ore and coking coal. Hu added that the company did not increase the price for cold-rolled steel as demand is lower. Cold-rolled steel is mainly used in the auto industry. April 26th, 2010  - Market Stats Minsk Belarus - Belarus issues Q1 steel production results According to the data released by Belarus' National Statistical Committee, in the first quarter of 2010 the country registered a 3.2 percent decrease year on year in its crude steel production to 648,000 metric tons, and a 5.3 percent drop in its finished steel product output to 613,300 metric tons. Meanwhile, in the first quarter, Belarus' outputs of steel pipe and steel cord registered increases of 86.6 and 10.3 percent year on year respectively to 40,200 and 24,700 metric tons. On the other hand, the country's steel wire rod production went down by 21.9 percent to 16,800 metric tons compared to Q1 2009. Compared to February this year, the country's crude steel output in March increased by 6.8 percent, its finished steel products output went up by 4.9 percent, its pipe production rose by 26.8 percent, its steel wire rod output increased by 28.4 percent, and its steel cord production went up by 10.5 percent. As of April 1 this year, Belarus' steelmakers had accumulated 5,700 mt of steel pipes in their warehouses, a figure which equals 47.7 percent of their average monthly pipe production volume. The total value of steel products accumulated in the warehouses of local steelmakers as of April 1 this year amounted to Belarus Ruble 96.2 billion (approx. $32.18 million). April 24th, 2010  - Market Stats Istanbul Turkey - Turkey's wire rod exports down 12.02 percent in March According to the statistics released by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in March this year Turkey´s total wire rod exports amounted to 75,168 metric tons, decreasing by 12.02 percent year on year and down 39.11 percent over February. Meanwhile, the revenue generated by these exports totaled $40.55 million, rising by 8.48 percent compared to the same month of the previous year and down 37.28 percent month on month. In March, the average export price of Turkish wire rod amounted to $540/mt, up $15,77/mt or three percent from February levels and indicating an increase of $102/mt or 23.31 percent compared to March 2009. April 21st, 2010  - Market Stats Shaoguan Guangdong China - Shaoguan Steel raises steel rebar and wire rod prices It is reported that China Shaoguan Steel has announced it’s new ex work price for steel products. The price of common wire rod has increased by CNY 50 per tonne as the new price of Q235 with outside diameter 6.5mm is being quoted at CNY 4690 per tonne and that of outside diameter 8mm to 10mm is CNY 4670 per tonne. The price of rebar and round bar will be increased by CNY 30 per tonne as the new price for HRB335 with outside diameter 18mm to 25mm will reach CNY 4,600 per tonne. The new prices will be effective from April 14th 2010. April 21st, 2010  - Market Stats Riyadh Saudi Arabia - Rebar prices increase by 32percent in Saudi market The Saudi Ministry of Commerce & Industry announced on its website an increase in SABIC rebar prices by SAR 740 per tonne as of April 13th 2010, ie 32% raise as compared to the March price level. Hence, rebar selling prices for 16 mm to 32 mm reached SAR 2900 versus SAR 2200 for March. Prices of Al Ittefaq Steel Products Company, a subsidiary of Al Tuwairqi Holding Group and the second largest rebar producer in KSA also took up by SAR 820, thus reaching SAR 3085. The third largest Saudi rebar producer, Rajhi Steel, saw SAR 600 rise, so its price became SAR 3150. Al Yamama rebar prices rose by SAR 215 amounting to SAR 3145. Turkish and Chinese imported rebar went up by SAR 535 along with SAR 420 for Qatari rebar. Thus, Turkish rebar is now at SAR 3285 per tonne and Qatari rebar reached SAR 3220. These increases in rebar quotes have served to narrow the price gap between major local producers in Saudi market and imported rebar prices, although SABIC prices are still the lowest in the market by SAR 250 compared to the highest price of local producers, ie Rajhi Steel and by SAR 320 when compared to rebar imported from Qatar and SAR 385 as compared to Chinese and Turkish imported rebar. See Extended Story.. April 19th, 2010  - Market Stats Taipei Taiwan - Feng Hsin raises wire rod price by TWD 1800 a tonne Feng Hsin Iron & Steel announced to raise wire rod prices by TWD 1,800 per tonne for April 2010. The increase in prices is higher than China Steel Corporation. The company indicated that they adjust the prices according to the high cost of raw materials and the acceptability of downstream users. After the increase, the new price stands at TWD 24,800 per tonne which is TWD 200 per tonne higher than CSC and it is acceptable and reasonable in the market. The company has already increased price by TWD 3,800 per tonne in total since early of this year. (Sourced from YIEH.corp via SteelGuru) April 19th, 2010  - Market Stats Qingshan Hubei China - Wuhan Steel raises steel prices for May Wuhan Iron and Steel Co Ltd has raised next month's prices for major steel products by RMB 500 per ton, according to a price policy the company unveiled yesterday. The price of hot-rolled steel increased by RMB 500 per ton, and that of cold-rolled steel increased RMB 100 per ton. The prices of tin plate, silicon steel, color-coated steel and steel wire all increased RMB 500 per ton, according to the policy. Prices were increased in response to surging iron ore prices abroad and increasing domestic coal prices. One ton of iron ore costs RMB 1,300 currently, the company said. Baoshan Iron and Steel Co Ltd and Angang Steel Co Ltd may increase steel prices later this week. April 17th, 2010  - Market Stats Damascus Syria - Syrian market sees 8pct hike in rebar prices Arab Steel reports that rebar prices have seen a rise by USD 54. Thus, rebar produced by private sector reached SYP 32,500 per tonne EXW as compared to SYP 30,000 per tonne of last week. This is an increase by approximately 8% and still considered the lowest raise when compared to neighboring markets where price levels touched USD 750 per tonne to YSP 800 per tonne. Although there are some minute price differences among various private sector producers in the Syrian market, the major difference is seen in comparison with the price of the only government owned mill Hadeed Hama, which is still selling at a price USD 54 lower than the other private sector producers. The private sector mills are 6 in number and their production covers approximately 60% of the Syrian market needs, whereas the government-owned company covers only 7% and the rest is imported from global market. See Extended Story.. April 17th, 2010  - Market Stats Taipei Taiwan - Lung Ching Steel hikes wire rod price by TWD 21500 per tonne SteelGuru reports that Lung Ching Steel Enterprise, one of Southern Taiwan's electric furnace mills, has raised its killed steel wire rod price to TWD 21,500 per tonne. Since the scrap price has risen further in the global steel market, it caused electric furnace mill's killed steel wire rod price to go up one more time. The president of Lung Ching Steel said the raising scrap price to come with the increasing Taiwan domestic market demand is the major reason to push up their price. Most buyers expected the killed steel wire rod price may continue raising and they are willing to purchase more at this moment. April 16th, 2010  - Market Stats Tranås Sweden - Has copper peaked for now? Copper dipped on Thursday weighed by a stronger dollar and concerns China might move to tighten monetary policy to head off possible overheating in its economy after robust growth data. Benchmark copper for three-months delivery on the London Metal Exchange traded at $7,880.75 a tonne at 0950 GMT from a close of $7,950 on Wednesday. China's economic growth accelerated in the first quarter to 11.9 percent, data released earlier showed, the fastest annual pace in nearly three years. The figure was flattered by a low base of comparison a year earlier. Although the country's consumer price inflation in March was 2.4 percent year-on-year, decelerating from February's 2.7 percent, the data still prompted fears over tighter monetary policies, weighing on China's main stock index. It also prompted speculation that China may be preparing to slightly loosen its grip on the yuan, even though the Commerce Ministry promptly reaffirmed its opposition to a stronger yuan. See Extended Story.. April 15th, 2010  - Market Stats New Haven Connecticut - Study of copper finds future supply tight but hardly a risk for copper shortage in the near term Copper is a relatively scarce commodity compared to other metals like iron or aluminum that make up a good portion of the earth itself. So copper serves as an excellent metallic bellwether for potential future resource scarcity, according to a group of researchers at Yale who compiled data on its extraction, use, recycling and discard to estimate whether there is enough copper available to make a developed standard of living available to all the world's people. The short answer is no. "We have gathered together the information on these metals that is the stock in use," says team leader Thomas Graedel of Yale University. "This tells you how much copper it really takes to provide electricity, plumbing, road systems. We can say considerably better than people have been able to say in the past how much does it take if the world is going to live like a person from a developed country." Graedel and his colleagues drew on archaeological, historical and modern data to determine how much new copper has been brought out of the ground and into use as well as how much has been discarded over the course of the 20th century. North America alone mined 164 million metric tons of the reddish-brown metal. Then, based on current discovery rates and existing geologic surveys, the researchers estimated that 1.6 billion metric tons of copper exist that could potentially be brought into use. This figure relies on the broadest possible definition of available copper as well as a lack of energy constraints and environmental concerns. In contrast, the U.S. Geological Survey predicts there is only 950 million metric tons of the metal that could be recovered. April 9th, 2010  - Market Stats New Delhi India - Extensive report on iron ore sector in India just released The global iron ore market is hot. Everything good or bad about economic activities is visible here. On the one hand, there is strong recovery of demand with the global economic prospects back on track, statistically so till date, concerns nevertheless remain. On the other, speculators are back with panic driven Chinese steel industry rushing to build stock before they set the table for talks with the iron ore mining industry for the year’s contract. See Extended Story.. April 8th, 2010  - Market Stats Brantford Ontario - Steel wire rod prices on the rise world wide Immediately after Chinese prices of al-killed wire rod reached CNY 5,000 per tonne and killed steel wire rod prices in both Northern and Southern China rose to CNY 4,200 per tonne and CNY 4,300 per tonne respectively Taiwanese wire rod prices followed the trend set by the Chinese steel producer and the current price in the Taiwan market for aluminum killed rod now stands at TWD 25,700 to TWD 25,800 per tonne. Salzgitter AG the second largest steel manufacturer in Germany has announced increased steel prices by approximately 80 euros per ton for the second quarter. In Kuwait steel prices are on the rise again and the price per ton has now reached KWD 220 per ton as compared to KWD 140 per ton at the trough of the price curve. In South Korea steel manufacturers has raised prices of construction steel by 6% to 7% effective from April in order to reflect high costs of raw material and Indian long product price index jumped by 71 points last week. April 7th, 2010  - Market Stats Seoul Korea - Korea imports 400 tonnes of wire rod from Taiwan SteelGuru reports that recently a Korean buyer imported 400 tonnes of aluminum killed wire rod from Taiwan at USD 840 per tonne FOB. Market players said that this is extraordinary case, because normally Korean buyers don't purchase aluminum-killed wire rods from Taiwan, especially at such high price. Some suppliers assumed that currently wire rod supplies are scarce in Korea. April 6th, 2010  - Market Stats Mumbai India - Domestic long steel market improving in India Steel market of India for long steel products as well as flat steel products surged beyond 8% since the beginning of current month as steel majors declared their March tariff citing higher cost due to increase in excise duty. Since the beginning of the month, due to various reasons, steel consumers secure large quantities of the commodity during the last week in a mad scramble to acquire delivery from steel mills and their warehouses which were mostly reported to be having very small stock sizes and were facing stock out situation with respect to many sizes and specifications. Anticipated midterm price hikes by steel manufacturers added further fuel to the fire as trading companies and stockists across the country began piling up their inventories resulting in a severe pressure on the supply-side. Market players raised their asking prices anticipating price hikes pushing buyers further towards the corner. See Extended Story.. April 1st, 2010  - Market Stats Taipei Taiwan - Taiwanese wire rod price on upward trend As we anticipated in yesterdays wirenews bulletin Taiwanese wirerod prices would follow the trend set in China. YIEH.corp via SteelGuru reports that after the al killed wire rod price increased to TWD 25,500 per tonne last week, the current dealing price in the market keeps rising and stands at TWD 25,700 to TWD 25,800 per tonne. China Steel Corporation will release its price in early April. After that, the al killed wire rod price will increase further and it is expected to increase to TWD 26,000 per tonne. According to the analysis, the increase in al killed wire rod price is due to the growing cost of raw materials, not because of the higher demand. April 1st, 2010  - Market Stats London U.K - Copper pops on Global Demand (from speculators this editor believes) Copper prices have zoomed in the last two trading sessions. Copper for three-month delivery on the London Metal Exchange closed at $7,850 per ton on Tuesday from $7,770 per ton at close on Monday. Copper stocks have rallied in trades on Monday and Tuesday as dropping inventories signal a revival in copper demand across the world. In the last two days, Freeport-McMoRan Copper & Gold (FCX) has risen 5.7% to $83.66, Southern Copper (SCCO) is up 3.3% to $31.91, while Teck Resources (TCK) has surged 7.4% to clock a 52-week high of $43.30. The outlook on these stocks continues to be positive. Freeport-McMoRan has 13 buys, five holds and one sell rating, while Teck Resources has seven buys, two holds and no sell ratings, according to TheStreet's analyst ratings guide. Editors Note: This is an observation not a suggestion to buy or sell any commodity or underlying stock. April 1st, 2010  - Market Stats London U.K - Now it is the turn for nickel to be pushed up beyond sanity by speculators New-York based hedge fund Touradji Capital Management is betting on improved demand for nickel, helping the material used in stainless steel outperform other base metals this year, traders and market sources said. Benchmark nickel on the London Metal Exchange has gained more than 25 percent so far this year to around $24,000 a tonne on Tuesday -- making it the best performing base metal. By contrast, benchmark base metal copper has gained five percent so far this year. Looking at nickel since the beginning of the year, we can see LME stockpiles rising, and prices, for the most part, falling—at least until the beginning of February. Then the story becomes a little curious: As LME stockpiles leveled out a bit, nickel's price skyrocketed. By the time LME stockpiles had begun to fall, nickel prices were already in such a huge climb that many industry followers were left scratching their heads, even as they bought nickel as fast as they could. A recent Wall Street Journal article points to stockpile drawdowns by Stratton Metals Ltd., a private nickel dealer in London, as the catalyst for that large price jump in mid-February. And as the supply decrease coincided with the rise in prices, some analysts began to worry that nickel was getting tight, a fear that only served to further drive prices up. See Extended Story.. March 31st, 2010  - Market Stats Shanghai China - Chinese wire rod price moves up SteelGuru reports that China wire rod price has gone up during the second half of March. The current price of al-killed wire rod has almost reached CNY 5,000 per tonne meanwhile present killed steel wire rod prices in both Northern and Southern China have also been raised to CNY 4,200 per tonne and CNY 4,300 per tonne which are about CNY 200 per tonne to CNY 300 per tonne higher than before. According to the mills, they are optimistic about the future wire rod market because wire billet and iron ore prices will be benefit by the increase in raw material prices. Besides, it’s said that Japan and Korea may lift their export offers for al-killed wire rod. Taiwanese wire rod price is likely to soar due to the rise in China’s wire rod price and they forecast that their new tariff of wire & bar prices of April will rise up. March 31st, 2010  - Market Stats Dubai UAE - Rebar price rises in UAE market despite weak demand Arab Steel reported that during the last week of March, rebar price have seen some hikes up to AED 2550 to AED 2600 as compared to AED 1900 to AED 2000 during the last week of February, thus rising by 30% according to UAE market sources. This comes after some price stability seen during the several past months under the influence of weak demand and the decline in consumption by nearly 30% compared to the demand in the past 2 years. The average monthly rebar consumption in the UAE market is 500,000 tonnes per month i.e 6 million tonnes annually. Market observers say that the major reason behind this sudden hike in rebar prices is not the demand boom, it's rather the concerns from a further price rise, taking into consideration the reported uptrend of raw materials and the increase in scrap prices up to USD 400 per tonne leading to increases in the prices of steel products in many global markets. See Extended Story.. March 26th, 2010  - Market Stats Tokyo Japan - Japanese Electric Wire and Cable rise 12.1% in February Data from the Japanese Electric Wire and Cable Makers' Association also showed on Thursday that Japanese copper wire and cable shipments rose 12.1 percent from a year earlier to an estimated 55,300 tonnes in February. The February figure was up from a revised 53,961 tonnes in January, but still 20 percent below levels before the Lehman collapse. The Electric Wire and Cable Makers' Association said it expected shipments for fiscal 2010/11 at 661,000 tonnes, little changed from the 660,600 tonnes estimated for the current year. "Demand in the auto and electrical sectors has recovered to 80 percent of levels before Lehman but the construction sector, which is vital for our industry, has shown no signs yet of recovery," an official at the association told reporters. Japan's exports fell slightly in February, but a big rise in auto shipments to the United States showed exports are continuing to pick up on the back of a recovery in the global economy. March 25th, 2010  - Market Stats London U.K. - Copper speculators about to get burnt as true industrial demand trail production Prices of industrial metals fell on Wednesday as the dollar rose against the euro and expectations are for further losses because of market surpluses. Three-month copper traded at $7,360 a tonne at 1109 GMT from $7,440 a tonne at the close on Tuesday. The metal, used in power and construction, is down more than 5 percent since the year high of $7,796 a tonne hit on Jan. 7. However, opinion about LME stocks is divided. Some see recent falls as a source of strong support. LME stocks of copper are down nearly 32,000 tonnes since March 1 to 520,450 tonnes -- the lowest since Jan 11. However there are rumors that speculators have taken copper in LME warehouses off the market and that cancelled warrants does not truly reflect the actual situation See Extended Story.. March 24th, 2010  - Market Stats Taipei Taiwan - Quintain Steel may hike wire rod prices by TWD 1500 a tonne It is reported that Taiwan's wire rod maker Quintain Steel is very likely to raise price in order to offset the high raw material cost. The price is predicted to increase by TWD 1,000 to TWD 1,500 per tonne. Other wire rod makers, such as Yieh Hsing Enterprise is expected to raise its price right after Quintain Steel announces its new price. Also, China Steel Corporation will announce its wire rod prices on April 10th 2010 for June's order. March 22nd, 2010  - Market Stats Istanbul Turkey - Turkish wire rod exports surge after 3 month decline In February Turkey's wire rod exports surged significantly in volume and in revenue both on MoM and YoY basis after recording monthly drops for 3 consecutive months. In the given month, Turkish wire rod exports to the US market enjoyed an increase in demand and price advantage, while in the Far East market Turkey replaced Chinese exports which were at higher price levels according to market insiders. According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in February this year Turkey's total wire rod exports amounted to 123,448 tonnes increasing by 86.25% YoY and up 81.28% over January. Meanwhile, the revenue generated by these exports totaled USD 64.65 million rising by 105.3% compared to the same month of the previous year and up 90.76% MoM. In February, the average export price of Turkish wire rod amounted to USD 524 per tonne up USD 49 per tonne or 10.23% from January levels and indicating an increase of USD 26 per tonne or 5.21% compared to February 2009 Meanwhile, in the first 2 months of 2010, Turkey's wire rod exports surged 14.72% amounting to 191,542 tonnes while the revenue of these exports totaled USD 98.55 million up 23.45% both compared to the corresponding period of 2009. March 20th, 2010  - Market Stats Taipei Taiwan - Taiwanese wire rod price continues soaring The price of electric furnace killed steel wire rod of last week was about TWD 19,400 to TWD 19,500 per tonne but it had climbed to TWD 19,800 per tonne. Meanwhile, rimmed steel and furnace killed steel wire rod prices only slightly went up to TWD 23,000 per tonne and TWD 21,000 per tonne respectively. The main factors of increase of electric furnace killed wire rod price are soaring scrap and rebar prices not strong demand&. Taiwan's Tycoons Group has announced to hike its wire rod price by TWD 500 per tonne on March 15th 2010 after China's Baosteel increased price for wire rod. It may be noted that the company's al killed steel wire rod price is prevailing around TWD 25,000 per tonne. Taiwan's Lung Ching Steel has announced to raise its killed steel wire rod price by TWD 300 per tonne to TWD 19,800 per tonne. It may be noted that since the scrap price has kept raising in the global steel market, it has not only pushed steel rebar price to hike but also push electric furnace's March 20th, 2010  - Market Stats Beijing China - PRC long prices post significant increase Over the past week, the Chinese longs market has remained on its rising trend, posting a significant increase, in a context of both increasing raw material and ex-factory prices. Meanwhile, deals are actively being concluded in the market. By the end of trading on March 15, market prices of 6.5 mm Q235 high speed wire rod were at RMB 4,030/mt ($591/mt), RMB 4,120/mt ($604/mt) and RMB 4,080/mt ($598/mt) in Shanghai, Beijing and Guangzhou respectively; meanwhile 20 mm HRB 335 rebar prices stood at RMB 3,810/mt ($559/mt), RMB 4,100/mt ($601/mt) and RMB 4,030/mt ($591/mt) in the above respective areas, with 20 mm HRB 400 offered at RMB 3,880/mt ($569/mt), RMB 4,170/mt ($611/mt) and RMB 4,280/mt ($628/mt) respectively. See Extended Story.. March 17th, 2010  - Market Stats Bombay India - Indian steel market for both long and flat products has surge but wire rod lags Indian steel market for both long and flat products has surged by more than 8% since March beginning, when steel majors declared their new prices for March deliveries citing additional burden of increased excise duty. For a variety of reasons, steel buyers have rushed to the market to secure large volumes last week resulting in a mad scramble to take deliveries from steel mills and their warehouses, which are mostly reported to have very small inventories and are facing stock out situation for many sizes and specifications. Both China and Black Sea steel mills, the most important price deciders in the global game, have increased their export offers pushing the global levels. Billet prices FOB Black Sea have crossed USD 500 per tonne level although the finished long products like rebar and wire rod etc have not caught up as much due to weak demand. March 16th, 2010  - Market Stats Vienna Austria - “China’s role in worldwide wire and cable markets. “ ICF news letter this month gives a good overview of China’s remarkable 10 Year Transition. In 1998, China exported US$ 0.9 billion of wire and cable products. In 2007 – less than ten years later – these exports passed US$ 10 billion and kept rising to US$11.9 billion in 2008. The compound annual growth rate (CAGR) for the rise from 1998 to 2008 is 28%, which compares with a 9 % CAGR for the corresponding ten-year increase in worldwide consumption of wire and cable products. These data are based on international trade statistics in the harmonized code “8544” product category, which includes all insulated wire and cable, along with, insulated conductors fitted with connectors, harnesses, and other cable assemblies. For complete news letter use this link March 11th, 2010  - Market Stats Brantford Ontario - US steel mills to raise wire rod April list prices Purchasing Magazine reports that at least three U.S. wire rod producers have announced price increases for April that would take list prices for low-carbon grades up to $765-$770 because of "significant increases" in scrap costs this month. Market reports indicate that shredded scrap, for example has increased 11% to $368 gross ton this month. Evraz and Keystone Steel & Wire have announced $60-65/ton increases on low-carbon wire rod, prices while Nucor's Bar Mill Group has announced a $60 increase on low-carbon grade wire rod and a $70 increase on medium-carbon, high-carbon and welding grades. See Extended Story.. March 11th, 2010  - Market Stats London U.K. - Copper gains for a second day in London and New York on Chinese imports Copper advanced for a second day in New York and London as shipments to China rose by 10 percent in February compared with the previous month, signaling sustained demand from the world’s largest user. China imported 322,282 metric tons of copper and copper products last month, the Beijing-based customs office said today. That was 2 percent less than the same month a year ago, according to data compiled by Bloomberg. A price difference between the contracts traded in Shanghai and London had favored imports and this gap has now closed. March 5th, 2010  - Market Stats Washington D.C. - US steel imports generally decline but rebar and wire imports are up sharply According to the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of February totaled 1,530,000 net tons (NT). This was a 7% decrease from the 1,644,000 permit tons recorded in January and a 6% decrease from the January preliminary imports total of 1,634,000 NT. Import permit tonnage for finished steel in February was 1,194,000 NT, which was a decrease of 5% from the preliminary imports total of 1,257,000 NT in January. February total and finished steel import permit tons would annualize at 18,983,000 NT and 14,704,000 NT, up 17% and 4%, respectively, from the 16,215,000 NT and 14,179,000 NT imported in 2009. In February, the largest finished steel import permit applications for offshore countries were for Japan (113,000 NT, up 45% from January), Korea (89,000 NT, down 41%), Germany (55,000 NT, up 47%), India (53,000 NT, up 184%) and Australia (48,000 NT, up 74%). Finished steel import market share in February is estimated at 18% Finished steel import permits for major product categories that registered significant increases in February vs. the January preliminary include reinforcing bar (up 108%), wire rod (up 39%), and cut-length plate (up 38%). See Extended Story.. March 5th, 2010  - Market Stats Dubai United Arab Emirates - Rebar prices in UAE increase by Dh100 The prices of rebar in the UAE have gone up by Dh100 to Dh1,950 per metric tonne since end-February from Dh1,850 per metric tonne, according to the steel industry yesterday. Emirates Business said that the market is stabilizing and has not witnessed any major fluctuations. Riad Bsaibes, Chief Operating Officer of Amana Contracting and Steel Buildings, said: "I can see that our procurement managers are buying standard uncoated standard rebar at the current prices of around Dh1,950 this month against the low of Dh1,700 six to eight months ago. I think we have gone through the bottom of prices and are currently sitting at the bottom." On February 28, the state-controlled Saudi Basic Industries announced it would raise prices of steel rebar and wire rod by SR100 ($26.7) per tonne from March 1. Higher iron ore and scrap metal costs led to the increase, Sabic's Vice-Chairman for metals Abdul-Aziz bin Al Humaid said in a statement to Reuters. This is the first time Sabic has raised steel prices since 2008. This was on the heels of Moody's Investors Service changing its industry sector outlook for Europe, Middle East and Africa (Emea) steel industry to 'stable' from 'negative' for the fundamental business conditions in the industry over the next 12 to 18 months. March 1st, 2010  - Market Stats Shanghai China - Steel in China may extend slump as stockpiles expand to record highs Steel prices may extend a two-month decline in China, the largest consumer and producer, as inventories swelled, raising concern that supplies are outpacing demand. Stockpiles of steel products in China, including those held by traders, producers and end users, are estimated to be more than 90 million metric tons, according to China International Futures (Shanghai) Co. This is a record and equivalent to about two months of domestic crude steel production, said Shanghai- based analyst Huang Huiwen. “There is so much steel lying around that the warehouses are full,” Huang said in an interview today. “Ships coming in have no more places to unload and are piling up at the ports.” State-owned researcher Beijing Antaike Information Development Co. last month estimated the total stockpiles of steel products in China exceeded 50 million tons. This compares with an estimated 18 million tons a year ago, analyst Ma Haitian said Jan. 25. Steel reinforcement bars and wire-rods on the Shanghai Futures Exchange are headed for a second monthly decline, the longest since futures started trading in March 2009, as commodity prices slumped after China moved to cool its economy. See Extended Story.. February 24th, 2010  - Market Stats Brussels Belgium - WorldSteel Association January 2010 Crude Steel Production report World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 109 million metric tons (mmt) in January. This is 25.5% higher than January 2009. China’s crude steel production for January 2010 was 48.7 mmt, an increase of 18.2% on January 2009 (see notes to editors). Japan produced 8.7 mmt of crude steel in January 2010, up 36.8% compared to the same month last year. South Korea showed an increase of 32.4% from January 2009, producing 4.5 mmt of crude steel in January 2010. See Extended Story.. February 23rd, 2010  - Market Stats Brantford Ontario - Commodities rallied Monday on all exchanges London Metal Exchange gained 9 percent last week its biggest weekly rise since March last year and touched a 3-1/2-week peak of $7,450 a tonne on Friday, encouraged by an improving economic outlook. As could be expected Shanghai copper rallied nearly 5 percent as the market reopened after a week-long Lunar New Year holiday, catching up to gains in London over the break, but economic policy changes and worries about oversupply weighed on sentiment. 3 month copper on the "Shanghai copper will fuss around in search for an appropriate level in reaction to London's rally last week in first two days after the holiday," said Lin Yuhui, deputy general manager of Jinhui Futures. In Mumbai domestic commodity markets started higher tracking firm global cue. However, rupee strengthening against the US dollar restricted domestic commodity prices making further stride. MCX copper for February settlement traded 1% lower at Rs 338.00 per kg, as the pre-expiry selling seen picking up. February 23rd, 2010  - Market Stats Boston Massachusetts - Active Optical Cable expects significant growth Information Gatekeepers report says. Active Optical Cable (AOC) revenue is expected to build significant growth over the next five years, according to this new IGI report. The worldwide recession has had a significant impact on new AOC design starts in the last year, reflected in a fairly modest revenue level of $137 million for 2010. New designs starting in late 2009 as well as designs expected through 2010 will create a strong increase in AOC sales in 2011-12, with slightly more modest increases in the subsequent two years covered in this report. Cumulative AOC revenue for the entire five-year period will be in excess of $7 billion, with over $2.4 billion in 2014 alone. Total AOC counts identified in this report should exceed 1.2 million units in 2010, growing to over 48 million units by 2014. Much of this growth comes from heavier participation from USB and HDMI AOC cables, building off a more modest base of higher ASP InfiniBand AOC cables. See Extended Story.. February 23rd, 2010  - Market Stats Tokyo Japan - Japan copper cable shipments 1st year on year rise since Sep 08 Japanese copper wire and cable shipments rose 2.5 percent from a year earlier to an estimated 54,000 tonnes in January, an industry body said on Monday. That was down from 55,926 tonnes in December, data from the Japanese Electric Wire and Cable Makers' Association showed. Temporary output cuts by automakers pushed down January shipments February 22nd, 2010  - Market Stats London U.K. - Meps says wire rod prices in northern Europe driven by higher in put costs Steel producers in northern Europe are seeking significant hikes, justified, they say, by their escalating input costs. Scrap has become scarce due to its relatively low value since the start of the recession. The upcoming iron ore contract negotiations are predicted to result in much higher values. However, price advances will be unsustainable without improved end-user demand and there are few signs of that at present. There has been little third party import activity. Demand has been solid in the domestic markets of China, India and Russia. Furthermore, price levels in Europe have not been attractive to producers from these countries. Selling values for long products are closely linked to the scrap market and, accordingly, rose more uniformly this month. Wire rod performed most strongly, on the back of perceived improvements in demand. Some suppliers have been unwilling to commit to long contracts as they predict further price advances. Purchases of merchant bars for manufacturing have not picked up to the same extent. Consumption of beams and rebar remains depressed as the ongoing harsh weather conditions hamper construction activity. February 19th, 2010  - Market Stats Bridgeville Pennsylvania - Universal Stainless announces stainless wire rod base price increase Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) today announced a base price increase of 5% on all stainless wire rod manufactured at its Dunkirk Specialty Steel, LLC facility. The increase will be effective with all new orders entered on March 1, 2010 forward. Current material and energy surcharges will remain in effect. Chris Zimmer, Vice President of Sales and Marketing, commented, "The price adjustment is necessary to support our continued reinvestment in equipment and facilities to better serve our customers." February 18th, 2010  - Market Stats New York/London/Santiago - Copper hits 3-week high, but Chile concerned over copper inventories Copper climbed to a three-week high on Wednesday after upbeat economic data from the United States bolstered brighter demand prospects and helped to counter the bearish impact of a stronger dollar. Benchmark copper for March delivery HGH0 on the New York Mercantile Exchange's COMEX division ended up 1.80 cents at $3.2395 per lb, after dealing between $3.1940 and $3.2680, a high dating back to Jan. 27. On the London Metal Exchange (LME), benchmark copper MCU3 closed at $7,130 a tonne from a close of $7,144 on Tuesday. Earlier. the metal rallied to $7,240, another three-week peak, but retreated in afternoon trade as the dollar strengthened and made metals more expensive for holders of other currencies. Chile's Mining Minister Santiago Gonzalez on Tuesday stressed concerns that high international copper inventories could spark a tumble in prices for the metal, the country's top export. "Disproportional stocks on metal exchanges could trigger a significant fall in prices," Gonzalez told reporters, saying that miners, including state giant Codelco, the world's top producer, needed to cut costs to cope with any eventual price fall. February 17th, 2010  - Market Stats Abu Dhabi UAE - Steel prices plunge in Abu Dhabi Steel and concrete prices plunged last year in Abu Dhabi due to economic slowdown, a report said on Saturday. The steel prices plummeted 43.9 per cent while concrete rates declined 13.5 per cent in the emirate in 2009, according to a report issued by Statistics Centre Abu Dhabi, or SCAD, part of Department of Economic Development Abu Dhabi. The steel and its products were the worst affected in the construction material that saw a decline of 12-43.9 per cent, the report said. "Steel price plummeted 43.9 per cent below their 2008 level," it said. High tensile steel registered the largest drop 50.7 per cent in the steel group, reflecting a decline in the average price per tonne of high tensile steel from Qatar, UAE and Turkey by 50.2 to 51.3 per cent from Dh4,080 per tonne in 2008 to Dh2,130 per tonne in 2009, it said. RBC mesh prices plunged 38.6 per cent, while binding wire was the item that showed the slightest decrease of 12 per cent within the steel group. See Extended Story.. February 10th, 2010  - Market Stats London U.K. - Global iron and steel output at record high in 2010 MEPS forecasts world steel output at 1350 million tonnes in 2010. This will be an “all-time” high figure and represents an increase of approximately 11 percent over the anticipated outturn in the previous twelve months. Blastfurnace iron production is also predicted to reach a record level in 2010. At 994 million tonnes, it would be almost 11 percent above the result a year earlier. Further significant gains are foreseen in 2011. See Extended Story.. February 9th, 2010  - Market Stats Washington D,C, - Steel Imports up in December - Improvement seen in the NAFTA market trend? Imports inched up 1.3 percent in December from November based on preliminary government reporting. “With the December preliminary data, imports for 2009 registered their worst year since 1991, during another recessionary period,” said David Phelps, president, AIIS. “Imports declined almost 50 percent in 2009, while domestic shipments (through November) were down 38 percent, reflecting weak demand in almost every steel market segment and substantial reductions in inventory throughout the supply chain. Early in 2010, however, there are some signs that demand is improving. But whether the improvement is merely a restocking of inventories or reflects a systemic improvement in demand is unknown at this time. The one positive element in the import data for December is the increase in imports from NAFTA countries, which react more quickly to demand conditions in the US market than offshore suppliers,” concluded Phelps. See Extended Story.. February 9th, 2010  - Market Stats Moscow Russia - Russian stainless steel product imports and exports in 2009 According to the data issued by the Russian Special Steel and Alloys Consumers & Suppliers Association, Russia's imports of the main stainless steel products decreased by 38.7% YoY to 109,600 tonnes in 2009 and fell by 33.4% to USD 388.57 million in money terms. In particular, Russia's imports of flats went down by 44.6% to 66,500 tonnes in 2009. Imports of longs decreased by 28.3% to 12,000 tonnes, imports of wire dropped by 42.9% to 1,800 tonnes, imports of seamless tubes decreased by 39.5% to 7,800 tonnes, imports of welded tubes went down by 17.7% to 18,200 tonnes and imports of billets dropped by 16.9% to 2,450 tonnes, all compared to 2008. See Extended Story.. February 8th, 2010  - Market Stats Istanbul Turkey - Turkish steel exports in January fall to 14 month low Turkey's steel product exports in January continued their declining trend both in volume and revenue which started on November 2009, registering the lowest level since November 2008 when the global financial crisis hit the world steel markets. According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association, in January this year Turkey's total steel product exports amounted to 1.22 million tonnes decreasing by 25.75% YoY. Meanwhile, the revenue generated by these exports totaled USD 681.16 million down by 29.67% compared to January 2009. As compared to December 2009, Turkey's steel product export volumes in January declined by 5.81% while the revenue from steel product exports decreased by 19.6%. In January, steel bar exports accounted for 25.86% of the country's total steel product exports, while section exports constituted 25.08%, exports of steel billet made up 20.42%, exports of pipes and fittings constituted 8.71%, wire rod exports accounted for 5.6% and flat steel exports for 4.07%. Turkey's top ten steel export destinations in January 2010 are in tonne as follows: Country Volume UAE 89,245 Iraq 76,608 Morocco 73,926 Egypt 66,124 Saudi Arabia 65,729 Singapore 50,491 USA 49,833 Libya 49,183 Israel 32,287 Algeria 31,822 February 8th, 2010  - Market Stats Paris France - France’s steel product exports down 35.67 percent in 2009 According to the statistics released by the French Ministry of Economy, Finance and Industry, France's basic steel product and ferroalloy exports , in 2009 amounted to a value of €7.65 billion, down 35.67 percent year on year. During the year in question, France exported €1.93 billion of steel pipes and tubes - down 33.96 percent, €209.55 million of cold rolled steel bars - down 55.04 percent, €432.9 million of cold rolled steel strip - down 43.34 percent, €229.71 million of cold drawn wire - down 38.32 percent, €710.88 million of metal structures and parts - down 13.73 percent, all compared to 2008. Meanwhile, in 2009, France's basic steel product and ferroalloy imports totaled €6.79 billion, down 45.3 percent year on year. During the period in question, France imported €1.25 billion of steel pipes and tubes - down 33.4 percent, €239.37 million of cold rolled steel bars - down 52.37 percent, €433.02 million of cold rolled steel strip - down 33.57 percent, €305.42 million of cold drawn wire - down 43.13 percent, and €1.1 billion of metal structures and parts - down 25.7 percent, all compared to the previous year. February 6th, 2010  - Market Stats Singapore - Fiber broadband subscribers to total 106 million worldwide in 2014, According to ABI Research the number of fixed broadband subscribers will rise to 501 million at the end of 2014, according to new market data released by ABI Research. Of those, about 106 million will subscribe to services delivered via fiber. Fiber broadband subscribers totaled 44 million at the end of 2009. The number of fixed broadband subscribers totaled more than 422 million at the end of 2009, a 9% increase from 2008. ABI Research industry analyst Serene Fong notes that, “Broadband penetration continues to increase since more service providers are offering triple-play services and driving down access prices.” Among the three broadband technologies, 65% of worldwide fixed broadband consumers subscribe to DSL, 25% to cable and 11% to fiber broadband services. The number of fiber broadband subscribers is increasing fastest, showing a compound annual growth rate of 20% from 2008 to 2014. See Extended Story.. February 5th, 2010  - Market Stats Washington D.C. - Steel import licenses rise in January January Imports Increased 80% from last year's low. January import licenses rose 10.1% to 1,394,611 tonnes from preliminary December imports of 1,266,392 tonnes to the second highest level in the past 12 months. Nearly 85% of the increase in the month was due to a surge in slab imports, which rose 63% in tandem with a decline in flat-rolled tonnage, which fell 6%. The combination is remarkable primarily because slab imports are running up in part due to lower sheet imports which are in turn driving sheet prices to year highs. See Extended Story.. February 1st, 2010  - Market Stats Duesseldorf, Germany - Demand for pipelines rising Worldwide The demand for oil and gas is rising worldwide as is the demand for pipeline pipe materials. Studies carried out by the Organisation of Oil Exporting Countries OPEC and the US Energy Information Administration before the current economic crisis forecast oil and gas consumption to go up by 16% and 29%, respectively, by 2015.  The high demand for oil and gas line pipes for the energy sector was mainly responsible for bringing global steel pipe production in 2008 up to the previous year’s record level of approx. 120 million tons. In the segment of large pipes (welded pipes over 406.4 mm diameter) production was estimated to grow by 1% to 18 million tons. Future opportunities for business growth in the segment of longitudinally welded large-diameter pipes are therefore foreseen especially in regions with fast growing energy needs and those with the relevant raw materials because of the high demand for high-quality pipes in demanding dimensions.  See Extended Story.. January 30th, 2010  - Market Stats Davao City Philippines - Prices of wire nails drops Prices of wire nails have decreased by as much as P6 per kilo based on the monitoring of the Trade department in the various hardware stores in Davao City. The monitoring report issued by the Department of Trade and Industry (DTI) in Davao City Philippines showed that 50-millimeter nails or two inches long were sold the previous week at a price of Pesos 50 per kilo, while the 100-millimeter of four inches long nails were sold at Pesos 46 per kilo. (1 peso=2 cents US) "Right now, the two-inch wire nails are sold at a prevailing price of Pesos 44 per kilo while the four-inch nails are sold at Pesos 41 per kilo," Teololu Pasawa, DTI city director, told Sun.Star in an interview. Steel wires of the gauge 16 variety were monitored to be sold P4 lower this week, at Pesos 51, compared to its prevailing price a week ago which was pegged at Pesos 55. "The gauge 18 variety of steel wire has a prevailing price of Pesos 65, more than Pesos 5 as compared to its price a week ago at Pesos 60," DTI said. January 23rd, 2010  - Market Stats Milan Italy - Long product prices in Italy jump by EUR 40 per tonne It is reported that long products in Italy have taken a big jump, with wire rod prices increasing from EUR 380 per tonne of last week to EUR 420 per tonne EXW. Same trend is witnessed for rebars. Pig Iron from Ukraine is indicated to have reached a price of USD 380 per tonne FOB Black Sea while re rolling grade billets are presently being negotiated between USD 505 per tonne to USD 51per tonne CFR FO Italian ports. See Extended Story.. January 22nd, 2010  - Market Stats Minsk Belarus - Belarus issues 2009 steel production results According to the data released by Belarus' National Statistical Committee, in 2009 the country registered a 7.9 percent decrease year on year in its crude steel production to 2.45 million metric tons, and a 3.6 percent drop in its finished steel product output to 2.3 million metric tons. Meanwhile, in 2009, Belarus' outputs of such products as steel pipe, wire rod and steel cord registered decreases of 26, 46.8 and 28.6 percent year on year respectively. The respective figures in metric tons were 106,700, 46,800 and 69,000. As of January 1, 2010, Belarus' steelmakers had accumulated 5,700 mt of steel pipes in their warehouses, a figure which equals 85.3 percent of their average monthly pipe production volume and which marks an increase of 5.5 percent year on year. The total value of steel products accumulated in the warehouses of local steelmakers as of January 1 this year amounted to Belarus Rubles 75.7 billion (approx. $26.7 million). January 21st, 2010  - Market Stats Moscow Russia - CIS exporters lifted long products export price As the cost of scrap steel and billet increased, CIS exporters adjusted up the long products' export price by U.S.$20 per ton for a production in Feb.. Thereinto, the debar export price boosted from U.S.$450-460 per ton to U.S.$460-470 per ton (FOB, Black Sea) and the export price of wire rod climbed from U.S.$470-480 per ton to U.S.$480-490 per ton (FOB, Black Sea). The export price hikes of CIS long products are mainly due to the rising cost rather than the demand. Presently, the demand in construction industry is still weak in Middle East and North Africa and the debar export orders are scarce. For the wire rod, as most steel mills reduced production at the end of last year and the supply was short, while the inventories of customers were high, therefore, there are few transactions. January 14th, 2010  - Market Stats Istanbul Turkey - Turkish wire rod exports down in December Month on Month. SteelGuru reports that In December Turkey's wire rod exports dropped in volume and in revenue on MoM basis for the third month in a row, while in 2009 the country's wire rod exports rose 17.2% in volume compared to 2008.According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in December Turkey's total wire rod exports amounted to 79,703 tonnes decreasing by 23.85% YoY and down 30.78% over November. Meanwhile, the revenue generated by these exports totaled USD 38.79 million, falling by 26.72% compared to the same month of the previous year and down 32.87% MoM. See Extended Story.. January 13th, 2010  - Market Stats London U.K. - Robust China data and a weak dollar, boost copper price. Speculators continue to drive the copper market. Copper climbed over 3 percent on Monday as the dollar fell and unexpectedly strong Chinese import data brightened the outlook for metals demand and strengthened fund buying. Benchmark copper for three-month delivery on the London Metal Exchange ended at $7,567.50 a tonne from $7,465 at the close on Friday last week and compared with a session high at $7,705. Copper imports by China, the world's largest jumped more than a quarter in December, reaching 369,368 tonnes, customs data showed on Sunday. Expectations had been for imports of around 320,000 tonnes. Meanwhile China's overall exports surged 17.7 percent year-on-year in December versus a forecast four times the consensus estimate of 4% LME copper stocks continue to rise, with the latest data showing inventories rose 3,150 tonnes to total 510,625 tonnes -- their highest level since March last year. January 11th, 2010  - Market Stats Paris France - France’s steel product exports down 37.48 percent in Jan-Nov 2009 According to the statistics released by the French Ministry of Economy, Finance and Industry, in the January-November period of 2009, France's basic steel product and ferroalloy exports amounted to a value of €7.07 billion, down 37.48 percent year on year. During the period in question, France exported €1.79 billion of steel pipes and tubes - down 32.78 percent, €194.26 million of cold rolled steel bars - down 56.56 percent, €401.8 million of cold rolled steel strip - down 44.64 percent, €213.87 million of cold drawn wire - down 40.34 percent, €644.33 million of metal structures and parts - down 15.77 percent, all compared to the corresponding period of 2008. Meanwhile, in the first eleven months of last year, France's basic steel product and ferroalloy imports totaled €6.31 billion, down 46.79 percent year on year. During the period in question, France imported €1.17 billion of steel pipes and tubes - down 34.57 percent, €222.11 million of cold rolled steel bars - down 53.36 percent, €397.67 million of cold rolled steel strip - down 35.52 percent, €284.92 million of cold drawn wire - down 44.17 percent, and €1.01 billion of metal structures and parts - down 26.77 percent, all compared to the corresponding period of 2008. December 18th, 2009  - Market Stats Istanbul Turkey - Turkey's wire rod exports drop in November after a five month uptrend In November, Turkey's wire rod exports dropped in volume and in revenue on a month-on-month basis following a five-month rising trend,while the average export price surged slightly. According to the statistics released by the Istanbul Mineral and Metals Exporters' Association (IMMIB),in November Turkey's total wire rod exports amounted to 115,140 metric tons,increasing by 15.23 percent year on year,but down 31.76 percent over October this year. Meanwhile,the revenue generated by these exports totaled $57.78 million,rising by eight percent compared to the same month of the previous year and down 31.37 percent month on month. In November,the average export price of Turkish wire rod amounted to $502/mt,up $3/mt or 0.6 percent from October levels,but indicating a decrease of $51/mt or 9.2 percent compared to November 2008. On the other hand,in the January-November period of the current year Turkey's wire rod exports surged 22.15 percent year on year to 1.07 million mt,totaling a value of $504.8 million,down 32.02 percent compared to the corresponding period of the previous year. Turkey's top ten wire rod export destinations in October this year were: Libya, USA, Singapore, Peru, Tunisia, Iran, Ivory Coast, South Korea, Italy and Nigeria. Source SteelOrbis - December 18th, 2009  - Market Stats Shanghai China - China's longs market continues to fluctuate Over the past week China's domestic long products market has retained its fluctuating trend,with a minor slide observed in market prices in most regions and a small climb in some individual markets. Price for 6.5mm Q235 had an average price of 3657 RMB/metric tonne down 13 RMB/metric tonne and 20 mm Rebar was down 30 RMB/metric tonne. Affected by poor market demand, longs prices in the eastern China market posted an overall declining trend in the past week,which was also caused by the decrease in the steel futures market in the first half of the week. Nevertheless,given the support of high cost levels, the market has not fallen sharply. By the end of December 10, rebar inventory in Shanghai reached 460,000 mt,neutral week on week; meanwhile, wire rod inventory in Shanghai stood at 98,000 mt,up by 5,000 mt week on week. See Extended Story.. December 18th, 2009  - Market Stats Ho Chi Min City - Vietnam's steel price rises by VND300,000/t Vietnam Iron and Steel Association disclosed the EXW price of the domestic steel products increases by around VND300,000 per ton (excluding added-value tax), and wire rod price rises to VND12.3mln, the steel bar price increses to VND12.1mln. The increase in steel price is mainly because the steel billet price in the international market has hiked by U.S. $5-10 per ton to U.S.$470-480 per ton. Additionally, the picking-up of freight and USD exchange rate also increase the steel costs. At the end of November, Vietnam's steel stockpiles were 225,000 tons, the steel exports from ASEAN's countries were 55,000 tons. The price of imported steel is lower VND500,000-700,000 per ton than the domestic steel December 14th, 2009  - Market Stats Tokyo Japan - Japanese October core machinery orders down 4.5% on month Japanese core machinery orders fell 4.5% in October from the previous month, as non-manufacturers scaled back spending, the Cabinet Office said Thursday. The fall in this leading indicator of corporate capital investment was slightly worse than the 4.2% drop expected by economists surveyed by Dow Jones Newswires and the Nikkei. The drop stems in part from entrenched deflation, which continued to eat into firms' bottom lines by pushing up real borrowing costs and eroding pricing power, analysts said. Orders remained sharply lower on year, down 21.0% compared with October 2008. The continued sluggishness came despite a 10.5% jump in orders in September. Core orders exclude those from electric power companies and for ships. Those orders are excluded to eliminate the volatility they could introduce due to their size. December 10th, 2009  - Market Stats Mumbai India - Base metals to see downward trend At a time when gold prices are relentlessly moving up, the overall trend in base metals which usually follows gold—as largely been a mixed bag. While nickel prices are heading southwards, copper, zinc, aluminum and steel are looking up and firm. Experts feel that base metals are overvalued in terms of their prices basically driven by investment demand and would see downward correction in their prices after December. Of late, weak dollar has been the reason for pushing up their prices despite low demand from countries like China. “Recovery in the base metals has been owing to stimulus packages and government spending. It has been a investment-driven demand. Ample liquidity in the system, low interest rates, possibility of inflation picking up in the coming months and weaker dollar have been a few reasons driving up the base metals prices,” said Praveen Singh, commodity analyst at Sharekhan. See Extended Story.. December 8th, 2009  - Market Stats Dhaka Bangladesh - Wire and cable major part of Bangladesh-Vietnam trade turnover. The bilateral trade between Bangladesh and Vietnam does not commensurate with potential of two countries as the two-side trade turnover was at 64.7 million US dollars in 2008. This was view of Vietnam Ambassador in Dhaka Nguyen Van while talking to a group of journalists at his residence recently. Lack of information among the business, inefficient trade promotion, insufficient number of trade delegation exchange and indifference to participating in trade exhibition have contributed to the present poor condition between the two countries. In 2008 the two-side trade turnover was at 64.7 million US dollars, growing by 36 per cent compared with that of 2007. In the first half of 2009, the trade exchange reached approximately 34.7 million USD in which Vietnam exports reaches 25.2 million dollars while import value is 9.5million dollars. The main exports of Vietnam to Bangladesh are: fabric, electric cable, urea fertilizer, iron and steel, yarn, rice, machinery, tools and equipment, etc. The volume of yarn export reached 10 million dollars in 2008 and enjoyed the biggest share among other exporting commodities from Vietnam. December 3rd, 2009  - Market Stats London U.K. - Copper reverses rally to 14-Month high as dollar stems decline Copper dropped for the first time in four days in Asia, reversing a rally to the highest level in more than 14 months, as some investors sold the metal to lock in gains and as the dollar’s decline paused. The metal used in construction and automobiles rose to $7,101 a metric ton, the highest price since Sept. 23, 2008, as the dollar traded near a 16-month low against the euro. “With the strong rally we’ve been seeing, there’s bound to be some profit taking,” Li Jingyuan, an analyst at Haifu Futures Co., said today from Shanghai. See Extended Story.. December 1st, 2009  - Market Stats Brussels Belgium - Global steel demand expected to grow in 2010 World Steel Association (WSA) forecasts that apparent steel use will contract globally by –8,6%, to 1,104-million tons, in 2009, after declining by –1,4% in 2008, while global steel demand in 2010 is forecast to grow by 9,2%, to 1,206-million tons. The improvement is largely owing to the exceptionally strong growth in steel demand in China. WSA economics committee chairperson Daniel Novegil says that the global recovery is stronger than the decrease of –14,1% predicted in April. “According to our current forecast, China will rebound 19% in 2009, and 5% in 2010. Emerging economies will slow down 17% in 2009, to grow to 12% in 2010. Apparent steel use in developed economies, which contracted by 34% in 2009, will rebound by 15% in 2010. Therefore, the WSA forecasts growth for global steel in 2010,” he says. However, Novegil adds that the growth is expected to be moderate. The emerging economies, especially China, will be the critical factor in driving world steel demand in the near future, as was the case before the financial crisis. “While the state of the global economy has improved, uncertainties and concerns regarding the resilience of the recovery still remain with the possibility of premature reduction in government stimulus actions. This uncertainty particularly exists for the Chinese economy in 2010, whose fast recovery in 2009 was largely enabled by such strong government sti- mulus policies,” he asserts. See Extended Story.. December 1st, 2009  - Market Stats London U.K. - MEPS sees global carbon steel price down 3pct in November UK based MEPS said that raw steel output continues to climb steadily in the US. Mill utilization rates were up to almost 65% in the first week of November. However, the recent relighting of blast furnaces has not coincided with a similar upturn in consumption. Oversupply could become a problem in the first quarter 2010. Service centers report that their sales have slowed markedly due to a lack of end-user demand, a situation they expect to continue for the remainder of this year. Consequently, their restocking phase has come to an abrupt end. As we anticipated in October, the steelmakers have started to offer discounts in order to solicit business, despite a lack of any real import competition. See Extended Story.. December 1st, 2009  - Market Stats Washington D.C. - US finished steel imports in October up by 29pct MoM Based on preliminary Census Bureau data, American Iron & Steel Institute has reported that US imported a total of 1,560,000 tonnes of steel in October 2009, including 1,177,000 tonnes of finished steel, up by 29% MoM and 15% MoM, respectively. This was the highest monthly total import figure since February. Annualized total and finished steel imports in 2009 would be 16 million tonnes and 14.4 million tonnes, respectively, down 50% YoY and 45% YoY. Finished steel import market share was estimated 18% in October and is an estimated 22% YTD through 10 months. See Extended Story.. November 24th, 2009  - Market Stats Brantford Ontario - Today’s steel business climate very much depends on location. Worldcrude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 112 million metric tons (mmt) in October 2009. This is 13.1% higher than October 2008. Following a revision of the September production figures, this is the second month in a row showing a positive growth rate since September 2008. China’s crude steel production for October 2009 was 51.7 mmt, 42.4% higher than October 2008. Elsewhere in Asia, Japan produced 8.8 mmt of crude steel in October 2009, down by -12.9% compared to the same month last year. South Korea showed a decline of -0.7% from October 2008, producing 4.6 mmt of crude steel in October 2009.For statistical charts use this link See Extended Story.. November 24th, 2009  - Market Stats Brantford Ontario - Copper a much different story from steel - or is it? The copper price has proved to be remarkably firm in the last few weeks. With a settlement quotation of US$ 6,926/t am 18 November, the US$ 7,000/t mark was nearly reached. This is a level that was achieved last at the beginning of September 2008, shortly before the investment bank Lehmann Brothers went into receivership in the course of the economic and financial crisis. After that, the copper price fell by 60 % to US$ 2,770/t until Christmas 2008. So why is copper prices recovering quicker than steel. The industrial demand for the metal is not much different from that of steel. Both metals stand to benefit from the massive stimulus spending on infrastructure projects. LME copper inventories are up indicating that more copper is being produced than what actual demand calls for. This editor suggests that speculators may account for much of the upward trend November 23rd, 2009  - Market Stats Tokyo Japan - Japanese October copper cable shipments down 14.3 percent from last year Japanese copper wire and cable shipments for October fell 14.3 percent from a year earlier, an industry body said on Friday, as the slow pace of economic recovery continued to sap demand. Shipments totalled 61,000 tonnes in October, up from 57,984 tonnes in September, data provided by the Japanese Electric Wire and Cable Makers' Association showed. Shipments to the power industry rose by 15.6 percent year-on-year to 8,100 tonnes, however, the largest volume since 8,427 tonnes in November 2001.But power and telecommunications were the only two sectors that saw figures rise year-on-year in October. "The power industry works under a long-term plan, and this rise is not really a reflection of the state of the economy," an official with the association said. He said the rise in the October data for these two sectors did not mean that figures would continue to increase. "If anything they could fall again as construction work tends to slow or halt in the winter in areas where there is heavy snow fall," he said. Japan's consumption of copper tumbled from late last year due to the sharp economic downturn which forced manufacturers such as automakers to cut output. Demand has returned, led by a recovery in the automobile and semiconductor sectors. Industry officials remain cautious about the outlook, however, as worries persist about the strength of Japan's economic recovery. November 21st, 2009  - Market Stats - Turkish wire rod exports in October hit monthly record Steel Orbis reports that in October, Turkey's wire rod exports surged in volume and in revenue for the 6th consecutive month, reaching their highest monthly levels recorded in 2009. According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in October Turkey's total wire rod exports amounted to 168,726 tonnes increasing by 95.44% YoY and up 35.51% over September in 2009. Meanwhile, the revenue generated by these exports totaled USD 84.2 million, rising by 29.18% compared to the same month of the previous year and up 39% MoM. See Extended Story.. November 20th, 2009  - Market Stats Taipei Taiwan - Taiwan’s wire rod exports in October up by 12pct MoM Yieh reports that Taiwan exported 17,800 tonnes of wire rod in October 2009, up by 12% MoM while down by 12% YoY. For the wire rod which diameter is below 14mm, Taiwan achieved an average exported price of TWD 20,090 per tonne in October 2009, up by TWD 150 per tonne on September. As for the wire rod which diameter is over 14mm, Taiwan achieved an average exported price of TWD 20,180 per tonne, up by TWD 90 per tonne. The main reason why the average exported price enjoyed a pick up is because the exported price to Malaysia and Thailand increased. November 19th, 2009  - Market Stats London U.K. - Market eyes weak demand, with LME copper stocks up again Copper fell on Tuesday as the U.S. dollar recovered and investors saw a rise to 13-1/2 month highs in the previous session as overdone given continuing stockpile gains. Benchmark copper for three-months delivery on the London Metal Exchange traded at $6,795 (U.S.) a tonne at 1026 GMT, after surging 5.1 per cent to close at $6,855 on Monday, a level not seen since late September 2008. “Yesterday's jump was a little bit overdone, there are still wider economic concerns. We've seen builds in (copper) stocks since the middle of the year but it's had no impact on price,” said David Wilson, analyst at Societe Generale. “The market is picking and choosing what it decides to take notice of, it's entirely sentiment driven,” he added. The U.S. dollar inched off 15-month lows on Tuesday, making dollar-priced metals more expensive for non-U.S. investors. Also weighing on copper, equities, seen as a proxy for economic growth retreated from 13-month highs in Europe. But overall sentiment remained upbeat, with funds who have helped drive copper up more than 120 per cent this year still pinning their hopes on a revival in demand for raw materials next year. See Extended Story.. November 9th, 2009  - Market Stats London U.K. - EU average stainless steel prices to continue downward slope according to Meps Meps forecasts little change from last month. Transaction values for all products are expected to continue on their downward path in the short term. Distributors are unlikely to rebuild their inventories during the remainder of 2009 due to poor sales and year end financial constraints. A reduction in both alloy surcharges and basis numbers is anticipated over this period. The rising threat from imports will, almost certainly, force local mills to cut prices as they fight to retain market share. EU steelmakers may also decrease production in a bid to rebalance supply and demand. See Extended Story.. October 30th, 2009  - Market Stats London U.K. - MEPS sees EU average steel price down by 2 pct in October MEPS said that an ongoing lack of end user demand is creating negative price pressure in the EU market. Restocking by the distributors caused a brief, temporary upturn in mill sales during the third quarter. This has now come to an end. Moreover, market players are concerned that the current level of consumption is not high enough to justify restarting so much previously idled capacity. Basis values have already weakened in several countries and buyers are anticipating further discounts in period one 2010. It added that "Despite reports by politicians and the media to the contrary, German steel market players can see no real improvement in the economic situation. The mills were talking of higher prices for the final trimester but, in fact, some spot values are softening. Customers are not ordering large quantities of third country imports because they are not confident about market developments in the intervening three months it takes for delivery." See Extended Story.. October 29th, 2009  - Market Stats Geneva, Switzerland - A devastating fourth quarter in 2008 but signs of improvement WTO yesterday published the latest annual compilation of international trade statistics The 2009 edition of the WTO’s International Trade Statistics, gives a comprehensive overview of world trade up to 2008, was published in electronic format on 28 October 2009 and will be available in print in November. The reports notes that: Up until the third quarter of 2008, exports of all product categories continued to experience the high growth that started back in 2003. In the fourth quarter of 2008, however, practically all product categories registered abrupt declines, which worsened in the early months of 2009. World exports of non-ferrous metals, automotive products and integrated circuits were hardest hit. However, initial data indicate a bottoming-out of the crisis in the second quarter of 2009. Despite the sudden and sharp downturn in the fourth quarter of 2008, the year still ended with an annual average growth of 33 per cent for exports of fuels and mining products (compared with 15.1 per cent in 2007), growth of 18.9 per cent for agriculture (19.8 per cent in 2007), and a relatively low growth rate (9.9 per cent) for manufactures (15.3 per cent in 2007). Severe price adjustments have taken place during the recession Primary commodities Overall, exports of primary commodities went up by 28.8 per cent in value terms in 2008, far exceeding the 2007 increase (16.5 per cent). This gain came as a result of record increases in the prices of fuels and food in the fi rst three quarters of 2008 – products which jointly accounted for 82 per cent of world trade in primary commodities. During the fourth quarter of 2008, the economic slowdown led to a decline in the export value of primary commodities. This decline increased in the first quarter of 2009. To read the report use use this link October 29th, 2009  - Market Stats Brantford Ontario - No relief in sight for European and North American Steel makers Steelmakers have been swimming in red ink for the past year and there is little indication that many of the producers in the developed world will be back in the black soon, analysts say. The world's largest steel producer, ArcelorMittal is expected to post a fourth consecutive quarterly loss on Wednesday, days after U.S. Steel posted a third straight quarterly loss and Japan's JFE Holdings said the market was too fragile to update its own earnings outlook. In contrast, steelmakers in India and China are booming as industrial activity in the developing world has surged back after the economic downturn last year dried up demand. In Europe, North America and the developed economies of Japan and Korea, steelmakers are only slowly increasing production that some of them cut by more than half a year ago. Although they are finally selling some steel again, it is mostly to replenish stockpiles of service centers -- middlemen who process the metal for specific customer needs. Dan DiMicco, chief executive of Nucor Corp, which posted a third consecutive quarterly loss last week, was blunt. "There has been no meaningful real improvement in end-use demand." Eurofer President Wolfgang Eder also struck a downbeat note, with fears China could damage the delicate stabilization in the market by ramping up exports as domestic demand slows. Eurofer's report said weak activity in Europe's steel sector had brought a slump in demand as consumption fell 45 percent year-on-year in the first half of 2009 and by almost 32 percent in the third quarter. "Overall it is on very, very thin ice. We fear that there will be huge exports out of China in the first half of the year," Eder said. October 28th, 2009  - Market Stats Boston Massachusetts - Copper to continue to dominate the structured cabling systems market For some time, it has been expected that fiber cabling would displace or at least make inroads on copper for the structured cabling systems market. It has been anticipated that fiber cabling’s superior performance (bandwidth) would be needed in place of copper cabling’s limited performance. Every time, the market has increased its requirements, from 1 Mbps, to 10 Mbps, to 100 Mbps, to 1 Gbps and now to 10 Gbps, it was expected that fiber cabling would be needed. But every time, copper cabling has increased its performance to satisfy the higher bandwidth requirements. At the same time, fiber cabling has not only increased its performance levels, but has also decreased its price, with new technology innovations, such as less costly VCSELs. At one time, fiber-to-the-desk (FTTD) was the holy grail of fiber cabling. This also has been a false start, as FTTD has evolved to a niche application not required in most of the enterprises’ networks. The question is what happens next? Copper cabling, presumably, has reached its limit, at support of 10 Gbps over 100 meters. At the same time, fiber cabling has continued to increase its performance, with OM 3 fibers supporting 10 Gbps for 300 meters and with newer technology OM 4 fibers promising even higher performance for support of future 40 and 100 Gbps over extended distances. See Extended Story.. October 28th, 2009  - Market Stats Shanghai China - Prices rise, inventory decreases in China’s longs market Given the strong rise observed in the steel futures market, China's domestic long product prices began to rebound in the past week. Meanwhile, end-side buyers accelerated their purchasing activities, leading to an obvious increase in the overall trading volume, with market inventory registering a remarkable decrease at the same time.Following the price ascension in eastern China, a certain release was observed in market demand during the past week, contributing to the relatively active trading performance on the whole. Coming up to the end of the week, the long products market gradually became stable, while a weakening was seen in levels of commercial activity as many players adopted a wait-and-see stance. As regards inventory levels, rebar inventory in the Shanghai market totaled 277,600 mt, down 16,570 mt week on week, while wire rod inventory amounted to 98,870 mt, a decline of 7,040 mt compared with the previous week. See Extended Story.. October 27th, 2009  - Market Stats Brussels Belgium - World steel output nearly back to pre crisis levels World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 107 million metric tons (mmt) in September. This is -0.6% lower than September 2008. World total crude steel production month-on-month has continued to show a steady increase since April 2009. China’s crude steel production for September 2009 was 50.7 mmt, 28.7% higher than September 2008. Elsewhere in Asia, Japan produced 8.3 mmt of crude steel in September 2009, down by -18% compared to the same month last year. South Korea showed a decline of -2.4% from September 2008, producing 4.4 mmt of crude steel in September 2009. See Extended Story.. October 26th, 2009  - Market Stats Beijing China - September.stainless steel production from China's major steel mills totaled 522,670 tons. Stainless steel production from major steel mills national wide totaled 522,670 tons in September. The major steel mills national wide include TISCO, Tianjin Stainless Tube, Baosteel, Baoxin Steel, POSCO in Zhang Jiagang, Lianzhong Stainless Steel in Guangzhou, JISCO, SKS, Taishan Steel. The production from domestic steel mills with large steelmaking capacity stood at 515,670 tons, of which 400 series accounted for 198,210 tons, 300 series 242,580 tons and 74,880 tons for 200 series. October 24th, 2009  - Market Stats Tokyo Japan - Japanese September copper cable shipments down 17% y/y Japanese copper wire and cable shipments fell by over 17 percent in September from a year earlier, extending a year-on-year decline into the 12th straight month due to a lack of strong demand from the construction sector. The country's demand for copper, used in areas such as electronics and automobiles, tumbled from late last year due to the economic downturn. Shipments amounted to an estimated 57,800 tonnes last month, down 17.4 percent from a year earlier, although they were up 14 percent from August, data from the Japanese Electric Wire and Cable Makers' Association showed on Friday. See Extended Story.. October 24th, 2009  - Market Stats London U.K. - 24 Base metals surge, copper gains 3% at $6660.25 on demand from speculators. LME inventory rise as industrial demand slow Copper price surged this past week reaching a 13- month high Tuesday earning gains of more than 3% from its previous session, as weakening trend on the green back and major economic news from Australia, provided substantial support on major traded base metals. The copper reached a high of $6665 highest since September 25th 2008 and settled at $6660.25 an increase of more than $250 from its previous session. The steps taken by BHP Billiton to declare ‘Force Majeure’ on Australia’s Olympic Dam which was crippled by a runaway skip that took out its Clark Shaft operation, the largest in the country. Copper supply may be reduced as the operations came to a complete halt affecting the supply to about 70,000 tons. The prices rose also due to weakening US currency, as the greenback fell again at a month-low. Also providing support were the stockpiles at LME warehouses showing an increase of 360,000 tons as on OCT.21, higher by 50% since mid-July. Zinc touched $2,184 a tonne on the LME, its highest level since late May last year. See Extended Story.. October 19th, 2009  - Market Stats Istanbul Turkey - Turkish wire rod exports in September up by 109 percent YoY According to the statistics released by the Istanbul Mineral and Metals Exporters Association, in September Turkey's total wire rod exports amounted to 124,500 tonnes increasing by 109.16% YoY and up 20.35% over August 2009. Meanwhile, the revenue generated by these exports totaled USD 60.57 million down 11.34% compared to the same month of the previous year and up 27.93% MoM. In September, the average export price of Turkish wire rod amounted to USD 486.46 per tonne up USD 28.8 per tonne or 6.3% from August levels but indicating a decrease of USD 661 per tonne or 57.61% from USD 1,148 per tonne in September 2008. On the other hand in the January and September period of the current year, Turkey's wire rod exports surged 13.94% YoY to 792,200 tonne totaling a value of USD 362.68 million down 41.86% compared to the corresponding period of the previous year. October 14th, 2009  - Market Stats Beijing China - The World Steel Association forecasts improved short range outlook. The World Steel Association (worldsteel) is forecasting that apparent steel use will contract worldwide by -8.6% to 1,104 mmt in 2009 after declining by -1.4% in 2008. This is an improved figure over the spring forecast issued in April 2009 which predicted a decrease of -14.1%. The improvement is largely due to the exceptionally strong growth in steel demand in China. With signs, from the beginning of the second half of 2009, of a recovery across the world now apparent, global steel demand in 2010 is forecast to grow by 9.2% to 1,206 mmt which is a recovery to the level of 2008. See Extended Story.. October 14th, 2009  - Market Stats Taipei Taiwan - Taiwan's wire rod market remained sluggish last week. There were only very few deals and the price continuously slid. Even though Quintain Steel Co., Ltd. and Yieh Hsing Enterprise kept the same price level in October, the wire rod market was nevertheless sluggish last week due to rather weak demand. If scrap and rebar prices are keeping on downward, it will be harmful to the future wire rod market. In addition, China's wire rod price will also have an impact on the whole market after the National Holiday. Although the domestic material is very limited, Taiwanese wire rod market is not optimistic this week due to lower demand. October 9th, 2009  - Market Stats London, New York - Markets - Stockpiles Shrink, Dollar Sinks, Copper Soars Copper shoots higher with the help of a weak greenback and a decline in available inventories. Copper for December delivery on the New York Mercantile Exchange's Comex division ended up 4.55 cents (U.S.), or 1.7 per cent, at $2.7270 a pound, after dealing in a session range from $2.6530 to $2.7370. On the London Metal Exchange (LME), copper for three-months delivery rose $41 to finish at $5,920 a tonne. In after-hours trade, the metal used in power and construction crossed the psychological $6,000 level after U.S. stocks added to their session gains, sending the Dow Jones industrial average up more than 1 per cent. The price of copper, used in power and construction, has surged more than 90 per cent since the start of the year, driven by Chinese restocking, speculative interest and improved macroeconomic data signalling a recovery from recession. September 29th, 2009  - Market Stats Shanghai China - Chinese domestic rebar prices have more room for adjustment Although Chinese steel market usually starts its busy season in September Chinese steel manufacturers faced opposite market conditions his time, wherein the prices continued to decline primarily due to the high inventories. Large steel enterprises in China recently lowered their EXworks price for rebars. For example, Hebei Iron & Steel Group reduced the rebar price by 10%. Specifically, rebars in 16mm to 25mm are now priced at CNY 3550 per tonne. At the same time, the wire rod price fell by CNY 350 per tonne and price of high speed wire rod 6.5mm is now quoted at CNY 3400 per tonne. But, these are not the lowest levels in 2009 as rebar price in Shanghai dropped to about CNY 3150 per tonne in the first week of April Thus hypothetically there is room for further reduction by about CNY 400 per tonne or say USD 60 per tonne. See Extended Story.. September 25th, 2009  - Market Stats Brantford Ontario - International rebar and wire rod demand is weak and prices remains low in all markets International debar markets are sluggish and prices remain low. However, the price of scrap and other input raw material is still strong, squeezing margins significantly. Turkey's steelmills have had to reduce both production and prices, in the past two weeks. Mills say export prices have been maintained at US$500-510 per ton (CFR), but the deals are few, there are few shipments to Dubai, Latin America and Africa. Recently, Turkey tried to raise the offer and the latest quotation of debar for October shipment to Persian Gulf was US$520 per ton (CFR), but quotes were rejected. The main reason is that local debar inventory is still higher, and it is expected that the dealers' stockpiles will take three or four weeks to clear off, after that, they will return to market to supplementary the stock. See Extended Story.. September 24th, 2009  - Market Stats Washington D.C. - Steel imports decline in August preliminary figures show The American Iron and Steel institute reported that US total steel imports were 855000 tonnes. This includes 786,000 tonnes of finished steel (down 14% and 12% respectively versus July data). These are the lowest monthly import figures in 2009 and down 51% and 44% respectively versus August 2008 For full report use this link September 23rd, 2009  - Market Stats London U.K. - Speculators and weak dollar continue to drive copper upwards despite rising inventories and slow industrial demand The dollar's return to one-year lows saw copper futures rallying as much as 3 percent on Tuesday, before worries over high inventories of the base metal led the market to settle off the session's highs. Copper for December delivery HGZ9 ended up 2 percent, or 5.90 cents, at $2.8645 a lb on the New York Mercantile Exchange's COMEX division. The intraday peak was $2.8920, up 3 percent from Monday's close. Copper for three month delivery MCU3 on the London Metal Exchange ended at $6,270 a tonne from $6,190 at the close on Monday. In the previous session, the metal, used in power and construction, hit a 2-1/2 week low at $6,050. See Extended Story.. September 21st, 2009  - Market Stats Brantford Ontario - Steel wire rod prices move sideways Steel wire rod prices has firmed up of late in North America but demand for low carbon grades is described as "lackluster" at best and buyers are far from interested in boosting sales prices much above the $531 price average in August. In fact, some buyers say the market price were closer to $525 this past week. "It's out there, but it's wavering a little bit," a rod buyer told the Steel Business Briefing online newsletter in regards to the pricing moves. Apparently, the shutdown of rod mills in New Jersey and South Carolina has triggered the attempted price hike by Gerdau Ameristeel, Evraz Rocky Mountain Steel and Charter Steel, among others. However, the market is weak and imports are increasing: After averaging 45,000 tons/month of low-carbon and high-carbon rod in the first seven months of this year, they came in around 75,000 tons in August, based on import license applications. Steel Business Briefing suggests that "a similar level is expected this month and falling home market prices in China could prompt an even bigger increase of imports later in this year. See Extended Story.. September 18th, 2009  - Market Stats Tokyo Japan - Japan’s August copper cable shipments down 17.7 percent yr/yr Japanese copper wire and cable shipments totalled an estimated 50,100 tonnes in August, down 17.7 percent from a year earlier, an industry body said on Thursday. That was also down from 58,032 tonnes in July, data provided by the Japanese Electric Wire and Cable Makers' Association showed. Japan's demand for copper, used in a variety of areas including construction and automobiles, tumbled from late last year due to the economic downturn. Demand is improving but consumption has remained slumped below year-earlier levels, underscoring that the recovery is not yet solid. See Extended Story.. September 18th, 2009  - Market Stats Washington D.C. - U.S. brass mill imports, exports decline in July U.S. imports and exports of brass mill products declined in July from the same month in 2008, with imports down 40.2 percent and exports off 25.9 percent, an industry group reported late Tuesday. Imports of all brass mill products dropped slipped to 36,068,643 lbs, compared with 60,315,647 lbs in July 2008, the Copper and Brass Fabricators Council said in its monthly report. Exports slowed to 18,596,288 lbs in July from 25,092,634 lbs in the corresponding 2008 period, it added. See Extended Story.. September 17th, 2009  - Market Stats London U.K. - Copper rebounds on weak dollar, but demand woes likely to cap gains A struggling U.S. dollar helped copper rebound on Tuesday, after touching two-week lows in the previous session, although recurring concerns about slack demand capped gains. The euro hovered near 2009 highs against the greenback, supported by talk Asian central banks were bidding the single currency and moving away from U.S. dollars. This and better than expected data released by the US census bureau Tuessday supported and pushed copper to new heights Wednesday. See Extended Story.. September 9th, 2009  - Market Stats Shanghai China - Chinese steel wire rod and rebar feel downward pressure Chinese rebar and wire rod export price dropped once again this week as domestic prices fall further. Major domestic mills are offering rebar at USD 550 per tonne to USD 560 per tonne FOB but there is said to be offers as low as USD 530 per tonne to USD 540 per tonne fob mainly offered by traders. The prevailing offers for wire rod is USD 520 per tonne to USD 550 per tonne. See Extended Story.. September 8th, 2009  - Market Stats Singapore - Asian aluminium premiums up, Copper also ticks up; buying sporadic Base metals premiums rose slightly in Asia this week on general expectations of a pick up in demand and worries about supply, especially of aluminium later this year.Although aluminium stocks stand at a record above 4.6 million tonnes, at least one Japanese buyer has agreed to pay a premium of $115 per tonne for some of the primary aluminium ingots it will buy in the fourth quarter the highest premium in 14 years and 50 percent up on the third quarter. At the same time Japanese port stocks have fallen to their lowest since records began in 1995, the same year that premiums last rose above $100, according to Reuters. See Extended Story.. September 8th, 2009  - Market Stats Taipei Taiwan - China Steel raises prices for third time this year Taipei Times reports that growing demand has led steelmakers to restart plants they had idled during the recession and analysts expect demand to keep increasing next year China Steel Corp, Taiwan’s largest steelmaker, will raise domestic prices for the third time this year as demand increases. Prices will rise by an average of 8.61 percent in October and November, the Kaohsiung-based company said yesterday in an e-mailed statement. The company had earlier raised domestic prices for orders in July, last month and this month. Recovering demand from manufacturers and builders is prompting steelmakers to raise prices and restart mills idled during the global recession. Steel prices in the US rose 10 percent last month. Baoshan Iron & Steel Co, China’s largest steelmaker, said last month it’s running at full capacity. See Extended Story.. September 5th, 2009  - Market Stats Taipei Taiwan - Yieh Hsing to raise 304 stainless steel wire rod price Taiwan's Yieh Hsing Enterprise has decided to lift TWD 2,000 per tonne for 304 stainless steel wire rod price for September. It increased its price by TWD 10,000 per tonne in the second half of August. Meanwhile, Walsin Lihwa also raises TWD 12,000 per tonne for domestic price. The reasons of increase are average nickel price of August remained high and other alloy materials consecutively go up. Besides, the additive alloy price of 316 wire rod, especially for copper, soars as well, hence, they have to increase the price of 316 wire rod and will lift further afterwards. September 5th, 2009  - Market Stats Kiev Ukraine - UGMK steel product import to Ukraine decline According to Mr Ruslan Mazhinsky marketing director of UGMK, quantity of steel products imported to Ukraine during 7 months of 2009 decreased by 65% in comparison with the same period of 2008 and made 383,600 tonnes. It is noticed in the report that the most significant decrease was noticed for flat rolled products for hot rolled down by 88.8%, for cold rolled down by 71% as well as for long products angle down by 83.4%, channel down by 82.7%, beam down by 71.8%. Decrease for steel bar products was not so dramatic rebar and wire down by 23% round bar down by 26.5%. Mr Ruslan Mazhinsky said the reasons for steel imports decrease merely in 3 times is deprivation of financial and economic situation in the country as well as instability of local currency. UGMK said in 2009 the main imports is tube industry which expanded its share from 27.3% to 40.5% while steel trading companies narrowed from 34.4% to 24.1%. September 3rd, 2009  - Market Stats Washington D.C. - Manufacturers’ shipments inventories and orders. New orders for manufactured goods in July, up five of the last six months, increased $4.6 billion or 1.3 percent to $355.5 billion, the U.S. Census Bureau reported yesterday. This followed a 0.9 percent June increase. Excluding transportation, new orders decreased 0.7 percent. Shipments, down eleven of the last twelve months, decreased $0.2 billion to $359.7 billion. This followed a 1.8 percent June increase. Unfilled orders, down ten consecutive months, decreased $0.1 billion to $740.6 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992. This followed a 0.8 percent June decrease. The unfilled orders-to-shipments ratio was 5.95, down from 6.00 in June. Inventories, down eleven consecutive months, decreased $3.6 billion or 0.7 percent to $503.1 billion. This was the longest streak of consecutive monthly decreases since March 2003-January 2004 and followed a 1.1 percent June decrease. The inventories-to-shipments ratio was 1.40, down from 1.41 in June. See Extended Story.. September 3rd, 2009  - Market Stats Shanghai China - Steel inventory in China climbing after 4 month decline Ministry of Industry and Information Technology recently announced that China's steel inventory started rebound after MoM decline for four straight months. By the end of July, the inventory of five main steel varieties in 26 major cities has risen 5.4% or 480,000 tonnes from the previous month to 9.44 million tonnes with wire rod posted the biggest growth. The data reveals that one reason behind the dramatic steel price stumble is the hiking inventory. Steel price slumped since mid August stamping the blooming bubble from previous price and output rockets. Mr Zhu Hongren spokesperson of MIIT said demand and supply relationship should be responsible for the dramatic fluctuation of steel prices, among many factors including anticipation and inventory adjustment. September 2nd, 2009  - Market Stats Hanoi Viet Nam - Steel prices in Vietnam market on the rise The Vietnam Steel Corp. released the new price list, for all kinds of steel In general prices are adjusted up by VND 300,000 per ton from VND 100,000 per ton. Among them, the wire rod price is lifted by VND 300,000 per ton, to VND 11.47mln-11.62mln per ton; the debar price is hiked by VND 100,000-300,000 per ton, hitting VND 11.72mln-11.97mln per ton. It is the second time that the company increased the selling prices of steel products in August. So far, the steel price has climbed by VND 450,000 per ton than the end of July. The reason why the steel price picked up is that the square billet price jumped to US$510 per ton from US$480 per ton. August 28th, 2009  - Market Stats London U.K. - Dollar forces pressure on Base Metals Base metals ended on a mixed note on the LME Wednesday as a strong dollar exerted pressure on prices. Also, positive US economic data failed to provide inspiration. The overall rally in prices has been too fast and prices are also reacting Lead prices managed to trade above the $2,000 mark yesterday, gaining 1% on the LME. The metal retreated from its highest in almost 13 months as profit-booking throughout the complex reflected the trend in the broader markets. On the macroeconomic front, US durable goods orders gained 4.9% in July, marking its biggest rise in two years but durable orders excluding transportation only rose 0.8 percent. US new home sales rose for the fourth straight month in July, this time by 9.6 percent, the sharpest increase since February 2005, to a ten-month high of 433,000. The Dollar Index gained yesterday and touched a high of 78.83 as strong US data failed to boost risk appetite in the financial markets, which currently looks exhausted. See Extended Story.. August 27th, 2009  - Market Stats Rio de Janerio Brazil - Brazil’s Gerdau steel operating at less than 80% Brazilian long steel giant Gerdau (GGB) is working at less than 80% of installed capacity, Chairman Jorge Gerdau Johannpeter told the local Estado news agency Wednesday. The economic slowdown has crimped global and domestic demand for steel products, and Brazil's steel industry reflected the impact, Johannpeter said. Gerdau CEO Andre Gerdau Johannpeter said earlier this month that the company was operating at between 60% and 70% of capacity. With signals that demand is increasing, the CEO said that capacity utilization should climb in the second half of 2009. See Extended Story.. August 27th, 2009  - Market Stats Shanghai China - Chinese steel market runs out of steam As of August 21st 2009, the average price in the major markets in China, for 25mm rebar was CNY 3943 per tonne, down CNY 296 per tonne since last Friday. The average price of high speed 6,5 mm wire rod was CNY 3882 per tonne, down CNY 304 per tonne. This in accordance with information provided by the Chinese steel spot trading platform, Xiben New Line, The reduction in prices during the last 15 days has already wiped out more than half of the price increase since late March. The fall is attributed to several factors including increased inventory and less demand. According to some traders, the demand is low and that the end users demand for steel will be low. See Extended Story.. August 26th, 2009  - Market Stats Dublin Ireland - Research and Markets publish Italy Metals Report Q3 2009 The Italian metallurgical industry is facing a deep crisis that showed no signs of ending in H109, due to a collapse in the credit market and its impact on the key automotive and construction markets. The Italy Metals Report forecasts steel output falling by more than a third in 2009. In the first five months of 2009, Italy's crude steel output fell 43% year-on-year (y-o-y) to 8.09mn tonnes. Monthly output averaged around 1.62mn tonnes. There was very little sign of recovery in demand with any increases related to buyers restocking inventories. See Extended Story.. August 25th, 2009  - Market Stats Moscow Russia - CIS mills lift up rebar, wire rod price It's reported that due to strong demand from East Asia, CIS's export price of rebar and wire rod for September delivery went up this week by around US$50/ton separately, to the level of US$460/ton. However currently, CIS's prices, though increased, still US$20/ton lower than Turkey's offer which stays at US$480/ton, which is more attractive to buyers from North Africa and Lebanon. August 25th, 2009  - Market Stats Tokyo Japan - Japanese copper cable shipments' decline slows in July Japanese copper wire and cable shipments fell 20.5 percent in July from a year earlier, but the pace of a decline slowed for a second straight month as demand improved in some sectors, industry data showed on Monday. July shipments were an estimated 58,200 tonnes, after falling 25.2 percent from a year earlier in June and 31.3 percent in May, the Japanese Electric Wire and Cable Makers' Association data showed. From the previous month, shipments rose 9 percent from 53,452 tonnes in June, the second month in a row of gains. Copper demand has been showing signs of improvement since shipments hit a 34-year low in May, helped by buying from the semiconductor and automobile sectors, raising hopes that the worst of the slump may be over. But the latest data also showed shipments to the construction sector, which accounts for about 40 percent of the total, fell 22.1 percent in July from a year earlier. That was faster than a 18.5 percent year-on-year decline in June, reflecting a prolonged slump in corporate spending and housing starts. See Extended Story.. August 25th, 2009  - Market Stats London U.K. - Steel outlook better than earlier estimates Preliminary analysis by MEPS (International) Limited suggests that the crude steel out turn for 2009 could reach 1190 million tonnes if the July improvement continues. This equates to a year on year reduction of approximately 10%, a figure substantially above the popular forecast of a decline of 14% to 15% by most pundits. The MEPS previous forecast in World Steel Outlook - Quarter two was 1165 million tonnes, down by 12%. The July outturn was boosted by strong levels of output in China may not be sustainable over the full year. However, inventory rebuilding has commenced in most of the industrialized nations of the world. The global economic outlook is improving with several countries moving out of recession. August 25th, 2009  - Market Stats Shanghai China - Shanghai copper chasing LME gains Shanghai copper rose by its 5 percent daily limit Monday, chasing sharp gains in London which traded around its strongest in more than a week, fanned by comments by Fed chairman Ben Bernanke on economic recovery. London Metal Exchange copper for delivery in three months rose more than six percent since Shanghai closed on Friday, lifted by Bernanke, who gave his clearest signal yet that a recovery is at hand and the biggest rise in sales of previously owned U.S. homes in July in nearly two years added to the bullish feeling. Dealers and end users seems to agree there is no correlation between demand and supply, and from the volatility it's fairly obvious the market is being played by speculators. See Extended Story.. August 24th, 2009  - Market Stats Moscow Russia - Copper exports from Russia up in H1 According to the statistics from Russian customs, Russia exported refined copper of 212,500 tons in the first half of this year, reaching US$ 783.2 million in volume and enjoying a pick-up of 160 percent. Russia exported copper to CIS of 600 tons with a volume of US$ 2.2 million while to other countries 211,900 tons with a volume of US$781 million. During the same period, Russia’s nickel exports totaled 106,200 tons, down by 9.5 percent compared to the same period last year. Russia exported nickel of 200 tons to CIS with a volume of US$2.2 million while to other countries 106,000 tons with a volume of US$1,185 million. August 15th, 2009  - Market Stats Taipei Taiwan - Tycons to raise wire rod prices. Tycons has announced to hike its wire rod price by NT$1,000/ton on August 12. The company’s wire rod Al-killed wire rod price is around NT$25,000/ton. Tycons’s new price is higher comparing to China Steel Corp's wire rod price (NT$23,000/ton), said a market participant. Tycons’s manager said that they have confident due to shortage of raw material. August 15th, 2009  - Market Stats Hamburg Germany - We are encountering a roller-coaster of opinions on copper market Aurubis says. The views that applied in spring are not valid now. If we had economic shock scenarios clouding the picture then, we now mainly have restrained optimism. The growth forecasts for the German economy have just been raised. The leading indicators are rising, more orders are being received, industry increases production and the German export economy is slowly stabilising. But this is all happening from a very low basis and the recovery must still prove to be sustainable. Nevertheless, a great deal seems meanwhile to speak in favour of a V scenario for the economic trend. What is occurring in Germany economically can also be observed more or less intensively in other industrial nations – it generates hope. And the copper market? Analysts painted just as black a picture of it as for the economic situation. Based on the key factors of a continuing economic crisis, massively falling copper demand, sharply rising exchange inventories and a significant surplus in the global copper balance, a year of low copper prices was expected after they plummeted to US$ 2,770/t on 24 December 2008. However, the LME cash price averaged at US$ 4,229 over the first seven months of 2009 and copper was traded at US$ 6,100/t in the last few days. Copper has therefore shown strength in recovery that far exceeds the other exchange metals. The underlying market conditions are also better. Overall demand on the copper market has shown a friendlier trend than expected in a short period. While China was a driver right from the beginning, the first signs of momentum are now coming from Western Europe. For full August newsletter use this link. August 10th, 2009  - Market Stats Hanoi Vietnam - Steel prices in Ho Chi Minh City Vietnam rose VND 150,000 per ton According to reports from steel agents, and steel traders in Ho Chi Minh City Steel prices continued to rise up by VND 150,000 from August 3rd . The retail price of steel products following to hike, currently, the wire rod price is VND 12.65 million per ton, the debar price for VND 12.95million per ton. It is learned that in this round of adjustment, the steel mills only increased wire rod price, but the market price of debar has also picked up. August 10th, 2009  - Market Stats Berlin Germany - German industry orders gain on foreign demand surge German manufacturing orders rose at their fastest pace in two years in June on strong foreign demand, particularly for capital goods, in a sign the industrial sector in Europe's largest economy is staging a recovery. Adjusted for seasonal swings, orders rose by 4.5 percent on the month, the biggest gain since June 2007 and the fourth consecutive monthly rise, the Economy Ministry said on Thursday. A Reuters poll of economists had pointed to a 0.8 percent rise. "This is a further sign of stabilization. But we are still a long way off a self-supporting recovery," said Deutsche Bank analyst Stefan Bielmeier. "Domestic demand is also very weak and should remain so given the expected increase in unemployment. "What is pleasing is that demand for capital goods has increased. It is questionable how sustainable that is," he said. See Extended Story.. August 8th, 2009  - Market Stats Beijing China - Chinese construction steel price sets single day record leap As we reported August 6 Shagang, one of the largest rebar producers in China raised construction steel prices notably at the month start for August delivery helping boost up spot prices by over CNY 300 per tonne recently the highest daily rise this year. As China’s biggest private steel mill, Shagang raised prices by CNY 500 per tonne for common wire rod, CNY 600 per tonne for rebar and CNY 700 per tonne for hot and cold rolled products for August 01st to 10th on the basis of late July price tags beating market forecasts. According to official Xinhua News Agency, construction steel price shot up in the past week especially in Beijing and Xi’an where prices roared almost CNY 100 per tonne per day in the past five days. See Extended Story.. August 6th, 2009  - Market Stats Washington D.C. - Steel wire rod imports seems to have bottomed out in May The U.S. Census Bureau announced today that preliminary June steel imports were $0.9 billion (0.8 million metric tons) compared to the preliminary May totals of $1.1 billion (0.9 million metric tons). The June change in steel imports based on metric tonnage reflected a decrease primarily in oil country goods; galvanized hot dipped sheets, and strip; hot rolled sheets; and plates in coils. An increase occurred primarily in blooms, billets, and slabs. Monthly decreases occurred primarily with China and Korea. The year to date final statistics through May 2009 showed steel imports of 7.0 million metric tons compared to 12.0 million metric tons through May 2008. The largest commodity decrease was in blooms, billets, and slabs. The largest country decrease was with Canada presumably a result of US Steel Idling the Stelco Lake Eire plant. Wire rod Imports in June 2009 totaled 34,185 tonne down from 108,943 tonne in June 2008 but up from 25,999 in May 2009 Imports of OCG pipe in June was 25,999 tonne down sharply from 240,171 in June 2008 and down from 136,266 tonne in May of 2009. June Drawn wire imports was 33,823 tonne down from sharply 61,673 tonne imported in June 2008 but up slightly from 32,167 tonne in May 2009. For full press release use this link July 28th, 2009  - Market Stats Dubai U.A.E. - Stability in steel prices to continue in the short term Steel prices in the Middle East continues to remain stable amid minor fluctuations with rebar priced between $460 (Dh1,689) and $480 per tonne. Flat products on the other hand has been on a sharp upward trend with prices increasing by $100 during the past four weeks. Rebar in the UAE was priced at $470 per tonne last Thursday and analysts told Emirates Business that the prices would continue to remain on the same level during the next few weeks. Karel Costenoble, Manager at Mesteel, told said: "Prices of rebar, which is the most imported product in the UAE, has been stable for some time now. I don't think the prices are going to increase for the time being. On the other hand, it might weaken." See Extended Story.. July 27th, 2009  - Market Stats Hanoi Vietnam - Vietnam Steel Association expects steel production to rise 3-5% Year on Year According to the forecast of Vietnam Steel Association, from now to year-end, the domestic market has no lack of construction steel, the domestic steel mills can satisfy the 60% or more demand of the wire rod and billet steel. Ruan Jinyi, vice chairman of Vietnam Steel Corp. said that from now to year-end, a few of billet and construction steel mills in Vietnam are put into production and operation steadily, to supply products to market. The total production of billet is 4.5 million -4.7 million tons per year, the construction steel reaching 7 million tons per year, the wire rod amounting to 2 million tons per year. It is estimated that the total output and sales volume of steel products increased 3% - 5% over 2008. The prices of steel products may go up slightly, but no sudden change. It is reported that, the steel production and sales volume of Vietnam's domestic steel plants in the first half year pick up dramatically, up 94% than the steel output of the same period of 2008, rising 103% in the sales volume. The billet output in the first half year was 1 million tons, the monthly average for 165,000 tons. July 27th, 2009  - Market Stats Brantford Ontario - American advertising migrates from TV and radio to the Internet It comes as little or no surprise that the choice of advertising media is shifting, but now there are statistics to confirm what we all knew was taking place. The majority (92%) of advertisers are using Internet advertising in their media campaigns followed by print advertising at 88 percent, according to a new LinkedIn Research Network/Harris Poll. At the same time, less than half are using radio advertising (46%), television advertising (46%) and mobile advertising (39%). The Harris poll found there is a regional difference as advertisers in the South are more likely to use radio advertising (57%) and television advertising (56%) while those in the West are least likely to use both (39% each). See Extended Story.. July 24th, 2009  - Market Stats Beijing China - Chinese steel prices rose in June as demand increases China's steel prices enjoyed moderate growth in June, with the domestic aggregate price index having climbed two consecutive months to 101.98, up 3.91 per cent from May. According to the statistics from China Iron and Steel Association (CISA), prices of wire, hot rolled coils, cold rolled sheets and galvanized plates forcefully pushed their ways up. However, those of deformed steel bars, medium plates and hot rolled sheets made moderate advancements, while seamless steel tubes averted a fall to rise 2.14 per cent on month. The steel market managed to fire back up in June, which analysts have attributed to the growth of domestic demand, boosted by supportive policies. See Extended Story.. July 18th, 2009  - Market Stats Hamburg Germany - Aurubis gives upbeat outlook in its monthly newsletter Copper mail Companies in Germany are receiving orders again, industry has increased production and the German export economy is slowly stabilizing. But this is all starting from a very low level and recovery could take its time. For copper, there is potential in this development. The copper stocks in the warehouses of the LME have dropped to 261,000 t and are thus 80,000 t down on the level at the beginning of the year and significantly lower than the year’s high of 548,000 t on 25 February 2009. A further 10,000 t are scheduled for removal. About 66,000 t of the LME copper stocks are stored spread over Western Europe, and are only able to cover the copper demand there for one week, if they were available without limitations and at reasonable freight. Since, contrary to Asia, it is not permitted for large copper quantities to be available in European bonded warehouses and we are currently at a low in the inventory cycle of the processing industry, copper cathodes could be in short supply after the summer break if the order intake picks up further. Developments in China are the second main criteria determining the course the copper market will take in the second half of 2009. Chinese imports of wrought copper and copper products rose significantly again in June for the fourth month in succession and total 475,999 t, i.e. 13 % up on the prior month and 175 % up on the prior year. About 380,000 t of this quantity is believed to be refined copper. this link July 17th, 2009  - Market Stats Santiago Chile - Chile copper export revenue falls 37 pct in June The value of Chile's copper exports amounted to $1.979 billion in June, down 37 percent compared with $3.151 billion in the same month a year ago, central bank figures showed Wednesday. The value of Chile's copper exports came to $1.889 billion in May this year, the central bank reported last month. Chile is the world's top copper producer, mining about a third of global supply. A sharp drop in copper prices from record highs last year due to the global economic crisis has curtailed the South American country's revenue intake. Although the government expects copper prices to stabilize at around $2 per lb this year, recovering from lows reported earlier after the red metal plunged from record highs of $4 in 2008. July 17th, 2009  - Market Stats Moscow Russia - CIS raises rebar, wire rod export prices CIS's rebar manufacturers have increased their export price to US$470 / ton for August shipments due to hiking of raw material price even though the demand from end users drops. Buyers have almost ceased to purchase, they are adopting a wait-and-see attitude for the time being because of lower demand. In addition, CIS's export wire rod price also goes up in line with increase of raw material cost. Most of wire producers have increased the export price to US$70 / ton for August but few deals concluded. July 16th, 2009  - Market Stats London U.K. - Copper firms on China purchases as dollar and LME inventories falls Copper hit a one-month high on Wednesday as the dollar dipped and upbeat U.S. corporate and economic numbers spurred hopes the global economy had passed the worst of its downturn. Copper for three-months delivery on the London Metal Exchange closed at $5,263 a tonne from $5,045 at the close on Tuesday. The dollar fell across the board on Wednesday, making dollar-priced metals cheaper for non-U.S investors. A strong recovery is already priced into commodities market observers said. Prices of the metal used in power and construction rose as much as 4.7 percent to a session high of $5,284, the biggest one-day percentage rise since June 4. Analysts warn the economic recovery may yet be protracted, and that the trend of falling copper stocks is set to stall as markets enter a traditionally quiet trading season. Copper stocks in LME warehouses rose 4,200 tonnes to 261,100 tonnes, but are still way below 500,000 tonnes in late February. Copper has risen around 65 percent this year, mostly due to Chinese buying, as the world's biggest copper consumer imported 1.8 million tonnes of refined copper in the first half. But analysts say Chinese buying will wane this quarter. July 15th, 2009  - Market Stats Brantford Ontario - MEPS sees world steel output in 2009 to drop by 12pct YoY while Eurofer gives much bleaker outlook for EU UK based steel analyst MEPS is forecasting total world steel manufacturing in 2009 at 1165 million tonnes, down by 12% YoY. MEPS said that “There are a number of positive signs in the market. Steel stock levels at both the distributors and mills are extremely low. The savage cuts in steel output over the past 9 months have partly rebalanced supply and demand by eliminating overblown inventories in the supply chain. Moreover, steel consumers, including OEM's, building and construction companies and distributors were also carrying substantial stocks of their goods and raw materials in the boom market conditions.” See Extended Story.. July 9th, 2009  - Market Stats Brantford Ontario - Reports say steel wire rod prices are on the rise There are reports from various markets that wire rod prices are on the rise and several suppliers like Bao Shan in China, ArcelorMittal in Europe has informed customers of price increases. YIEH.corp reports that Taiwan wire rod manufactures expect to increase output since price rise has been accepted by buyers and demand is strengthening. ArcelorMittal has called off a month-long shutdown of its Quebec iron ore mine as markets improve in developing economies such as China. The Mont-Wright open pit mine in northeastern Quebec, one of the largest in North America, was to close temporarily July 26. But last week, the global steel giant decided to change course, said Martin Simard, spokesperson for ArcelorMittal Mines Canada. "We can feel that demand is picking up in China and Brazil and in emerging economies," Simard said. The iron ore concentrate from Mont-Wright is sent to Port-Cartier, Que., on the north shore of the St. Lawrence River, where it is processed into pellets or shipped to countries around the world. See Extended Story.. July 3rd, 2009  - Market Stats Brantford Ontario - Copper surged on Wednesday but closed lower again on Thursday as US and European data suggests economic recovery distant, Copper surged on Wednesday to its loftiest level in more than two weeks, driven by extended losses in the dollar and upbeat manufacturing surveys in the United States, Europe and China that reinforced economic recovery hopes. These encouraging predictions in the surveys were however squashed Thursday as the dollar strengthened and grim U.S. and European data underlined concerns that global economic recovery could actually be a long way off. Data released Thursday that US unemployment rate rose to 9.5% in June from 9.4% in May was enough to see the stock markets collapse and gamblers run for cover. Copper for September delivery on the New York Mercantile Exchange's COMEX division settled down 2.50 cents at $2.3055 per lb. Copper for three month delivery on the London Metal Exchange sank $55 to close at $5,035 a tonne. See Extended Story.. June 25th, 2009  - Market Stats Boston Massachusetts - Economic recession expected to have minor impact on the structured cabling systems market. FTM Consulting announced in its latest study of the SCS market that the current U.S. economic recession, which started in the fourth quarter of 2007 and continues into 2009, was not impacted until the fourth quarter of 2008, when UTP (unshielded twisted-pair ) cable volumes declined significantly. Frank Murawski, President of FTM Consulting, Inc. said, “For the last 10 years that we tracked quarterly UTP cable shipment growths, we have not seen the severity of the decrease that occurred in the fourth quarter of 2008, when shipments fell off the cliff. Until that point in time, the market had behaved consistently since 2001, basically being flat market with minor annual growth increases or decreases of no significance occurring. With this dramatic decrease, we believed it was time that we further analyzed this radical departure of the market to ascertain what was occurring. We undertook a comprehensive bottoms up approach in analyzing the market’s performance during the past several years from 2006 through 2009.” See Extended Story.. June 25th, 2009  - Market Stats Tokyo Japan - Japan’s May shipments of copper wire and cable lowest since February 1975 Japanese copper wire and cable shipments amounted to an estimated 44,700 tonnes in May, down 31.4 percent from a year earlier and the lowest level since February 1975, Japanese Electric Wire and Cable Makers' Association said on Wednesday. Shipments were down 14.7 percent from April, (see wirenews May 23rd, 2009 Tokyo ,Japan - April copper cable shipments down 26.3 percent yr/yr) Demand from the construction industry hit the lowest level in 26 years. Shipments fell 25.7 percent to an estimated 18,900 tonnes in May from a year earlier, the lowest level since May 1983, when shipments stood at 18,870 tonnes. Demand for copper has fallen across all industrial sectors, including construction and automobiles, as Japan struggles to lift itself from its worst downturn in half a century. The association's members account for about 60 percent of Japan's copper use. June 19th, 2009  - Market Stats China - May refined, alloy copper imports at 354,567 T China's imports of refined and alloy copper rose to 354,567 tonnes in May, official Customs data showed on Thursday. That was up 139 percent from a year-ago period, according to Reuters calculation. Imports in the first five months rose 104.6 percent to 1.48 million tonnes, official figures showed. The following table below - on extended news - shows China's major metal trade figures for January to May. A detailed breakdown will be issued late in the month. See Extended Story.. June 17th, 2009  - Market Stats Brantford, Ontario - Construction Materials Costs Edge Up Climbing out of an economic drought, prices of construction materials increased 0.5 percent in May, according to the Producer Price Index report by the U.S. Labor Department. However, prices are still down by 5.3 percent on a year-over-year basis. Construction materials trending higher include fabricated ferrous wire, up 0.5 percent, marking the first increase since October of last year. On a year-over-year basis, prices are up 0.1 percent. Prices for prepared asphalt and tar roofing are 1.3 percent higher from April, and up 40.4 percent from a year ago. Plumbing fixtures and fittings prices were unchanged on a monthly basis and are up 0.6 percent from May 2008. In contrast, prices for fabricated structural metal products continue to decrease, down 0.7 percent from April and down 2 percent on a year-over-year basis. Softwood lumber prices dropped 2.1 percent from April and are down 18.4 percent on a year-over-year basis. See Extended Story.. June 16th, 2009  - Market Stats New York - Copper Falls as Rising Dollar Curbs Demand for Inflation Hedge Copper prices fell the most in eight weeks in New York and London as a stronger dollar curbed demand from investors seeking a hedge against inflation. The U.S. Dollar Index, a gauge of the greenback’s value against six major currencies, climbed as much as 1.5 percent. The Reuters/Jefferies CRB Index of 19 commodities dropped as much as 2.7 percent, falling for a second session. Raw materials often move in the opposite direction of the dollar as traders use metals, grains and energy as alternative assets. “Commodities are down across the board today as traders continue to take their cue from the dollar,” said Matthew Zeman, a LaSalle Futures Group trader in Chicago. “One of the big things to look out for now is whether we’re going to see the inflation that people had been worried about.” Copper futures for July delivery fell 8.85 cents, or 3.7 percent, to $2.285 a pound on the New York Mercantile Exchange’s Comex division. That marks the biggest decline for the contract since April 20. Copper for September delivery slid 3.6 percent to $2.2965 a pound. The metal also fell as swelling stockpiles in China and declines in U.S. manufacturing signaled easing demand. See Extended Story.. June 15th, 2009  - Market Stats Brantford, Ontario - Copper Boosted by Chinese Imports Ulf’s comment CRU at the copper conference in Chile Earlier this year said that the price industrial use warrant is between 3000 and 2000 US$ per ton $ 2000/ton is a floor price for the most efficient mines. What we see now driving the price is sheer speculation as some analysts question fundamentals of recent base metals rally. Copper climbed to its highest level since mid-October as rising import levels into top consumer China bolstered sentiment, but analysts questioned the sustainability of this week's stunning rally. Catherine Virga, senior base metals analyst with CPM Group in New York, questioned the fundamental strength of the rally that has driven prices of the metal used by many investors as a bellwether of economic strength up over 7 per cent this week and more than 10 per cent so far in June. “The import figures are definitely something to look at for this short-term rally, but exports are still down, the arbitrage opportunities are gone, and cancelled warrants are trending downward, so I don't know how much of this is a trend story or how much of it is an investor story,” she said. See Extended Story.. June 13th, 2009  - Market Stats Mumbai, India - Rise in Tin, Nickel and Lead on Renewed Demand Prices of tin, nickel and lead firmed up further in a mixed non-ferrous metal market on renewed industrial demand coupled with higher advices from London Metal Exchange (LME). Copper and brass markets have eased due to lack of industrial support. Tin rose by Rs 17 per kilo to Rs 862 from the previous closing level of Rs 845 and nickel moved up by Rs 3 per kilo to Rs 760 as against Rs 757 previously. Lead and copper utensils scrap also ended slighty higher by a rupee per kilo each to Rs 90 and Rs 257 respectively. Copper scrap heavy, copper armiture, brass utensils scrap and brass sheets cutting ended slightly lower by a rupee per kilo each to Rs 273, Rs 271, Rs 200 and Rs 205 respectively. See Extended Story.. June 11th, 2009  - Market Stats Brussels, Belgium - 2009 First Quarter Stainless Production Lowest Since 2000 The International Stainless Steel Forum (ISSF) has released preliminary stainless steel production figures which show that 4.8 million metric tons (mmt) of stainless was produced worldwide in the first quarter of 2009. This is the lowest level of first quarter production since 2000. However production in China and the Americas increased in this quarter when compared to the already depressed fourth quarter of 2008. The relatively good performance of the Chinese stainless industry may be partly explained by the government’s economic stimulus package which seems to have created some additional demand for stainless in the country. The increase in the Americas region is on a very small volume of just 411,000 metric tons. All other regions showed decreases in production See Extended Story.. June 6th, 2009  - Market Stats Monterey Mexico - Mexican rebar and wire rod prices on downward trends SteelGuru reports that the prices of rebar and wire rod remained going down on the Mexican market in the recent weeks due to the domestic slack demand and unacceptable price by the customers.As per report, the rebar price went down all the way since the beginning of May 2009 and fell to USD 552 to USD 583 per ton, which was believed the bottom price probably. As for the wire rod, the domestic low carbon wire rod is quoted at USD 552 to USD 567 per tonne, down by USD 15 per tonne as compared to weeks ago. Although the stock has been on a low level, the market price will probably go down further with the dearth of demand. May 28th, 2009  - Market Stats Cairo Egypt - Turkey Steel mill's Middle East rebar prices weakens Middle East long products market begin show signs of oversupply i.e. bad news. Different sources reported that Turkish companies forcing rebar sales to Egypt caused overfilling of the local market. (Supplies volume in January-April reached 1.8 mln tons comparing with less than 60 thousand in the similar period of last year). According to traders Egyptian distributors’ stocks are full, and new vessels are waiting for discharge in the ports. As analysts forecasted, Egyptian market is “out of the game” at least till the beginning of June or even for longer period. Without Egypt the situation in the region looks negative. As per some estimations, by July rebar price in ME market can reduce to about $400 per ton FOB Turkey. During several days Turkish rebar fell by $30-40 per ton as if confirming the forecasts. See Extended Story.. May 26th, 2009  - Market Stats Brussels Belgium - EU Steel Market demand almost halved in first half 2009 Eurofer has published its Economic and Steel Market Outlook 2009-2010 While data of the first quarter of 2009 confirm that the economic downturn in the EU is gathering pace, it is clear that particularly EU industry is hit hard by falling exports and tight credit supply. Domestic and international export demand for manufactured goods has continued to fall sharply. Companies are struggling to survive under extremely difficult business conditions, cutting investment and reducing operational stocks to the bare minimum as long as the slump in confidence and tight credit availability continues. Consequently, the outlook for the steel using industries in 2009-2010 is very grim with all sectors seeing strongly reduced output levels, particularly in the 1st half of this year. See Extended Story.. May 26th, 2009  - Market Stats Mumbai India - Aluminum output to grow by 10.7% in 2010 India's aluminum production is expected to grow by 10.7 per cent this fiscal, the Centre for Monitoring Indian Economy (CMIE) said in its monthly review. "Aluminum production is expected to grow by 10.7 per cent in FY10 on the back of the completion of various projects and healthy demand from the electrical power equipment and construction sectors," the CMIE report said. Prior to December 2008, the primary aluminum industry was facing capacity constraint which was reflected in the less than five per cent monthly production growth. With the completion of Vendanta Aluminum's 2.5-lakh tonnes smelter in Orissa, production grew by over 13 per cent in each month during December-March last fiscal. This significantly boosted primary aluminum production in FY09 as it grew by 9.1 per cent to 13.48 lakh tonnes in line with CMIE estimates. See Extended Story.. May 25th, 2009  - Market Stats Hong Kong - China copper imports at new high, aluminum surges China's imports of refined copper rose to a third straight record in April while aluminum inflows more than quadrupled to a new high, data that may stoke concerns that the world's top consumer is overbought. Flood of imported metal boosted China's month-on-month apparent demand by 9.8 percent on copper, the third consecutive gain to a monthly figure some 50 percent more than last year's average. Aluminum demand climbed 17.5 percent from March. But implied zinc consumption calculated as the sum of net imports and domestic production, minus the change in reported exchange inventories inched down 0.1 percent on the month due to April's fall from March's record imports, while lead fell 2.9 percent after a 10 percent domestic output drop. See Extended Story.. May 25th, 2009  - Market Stats Washington D.C. - SSINA releases market data for February 2009 The Specialty Steel Industry of North America has released statistical data on imports, U.S. consumption, and import penetration for February 2009. The data represents U.S. consumption, imports, and import penetration for YTD February 2009 compared to the same 2008 two month period. The following data is presented by specialty steel product line, total stainless steel, and total specialty steel: Stainless steel bar: Imports in YTD February 2009 were 14,380 tons, a 25.8% decrease as compared to YTD February 2008; US consumption was 28,693 tons, a 31.8% decrease two month import penetration was 50.1%, a 4.1 percentage point increase from 2008. Stainless steel rod: Imports in YTD February 2009 were 2,019 tons, a 54.9% decrease compared to YTD February 2008; US consumption was 4,820 tons, a 52.7% decrease; two month import penetration was 41.9%, a 2.1 percentage point decrease from 2008. Stainless steel wire: Imports in YTD February 2009 were 5,023 tons, a 25.5% decrease compared to YTD February 2008; US consumption was 6,687 tons, a 45.3% decrease; two month import penetration was 75.1%, a 19.9 percentage point increase from 2008. Imports of total stainless steel YTD February 2009 were 63,391 tons, a 51.3% decrease compared to YTD February 2008; US consumption was 211,496 tons, a 39.5% decrease; two month import penetration was 30.0%, a 7.2 percentage point decrease from 2008. Full press release use this link May 23rd, 2009  - Market Stats Tokyo ,Japan - April copper cable shipments down 26.3 percent yr/yr Japanese copper wire and cable shipments fell 26.3 percent in April from a year earlier to an estimated 52,200 tonnes, an industry body said on Thursday. That was also down 18.8 percent from 53,198 tonnes in March, data provided by the Japanese Electric Wire and Cable Makers' Association showed. Japan's consumption of copper, which has wide industrial applications in the power, electronics and auto industries, has plunged as the world's second-largest economy grapples with its worst downturn in half a century. Exports to China, however, have been on the rise in recent months. See Extended Story.. May 22nd, 2009  - Market Stats Minsk Belarus - Belarus steel production update for Q1 of 2009 According to the data released by Belarus~{!/~} National Statistical Committee in the first four months of 2009 the country registered a 1.9% increase in its crude steel production, a 5.7% rise in its finished steel product output but a 48.3% decrease in its steel pipe output year on year. The respective figures in metric tons were 906,000, 864,300 and 30,800. During the period in question, Belarus~{!/~} output of wire rod went down by 6.8 percent to 27,900 tonnes while its steel cord production decreased by 2.9% to 31,000 tonnes both compared with January to April 2008. (Sourced from SteelOrbis via SteelGuru) May 19th, 2009  - Market Stats Peoria Illinois - Long product, rod hike sparks buyer debate The first attempt in months to boost prices on long products sparked mixed reactions in the supply chain, with three major mills poised to hike wire rod by $35 per ton on June 1 and one company raising some other long products by $40 per ton. In wire rod, distributors welcomed the $35-per-ton increase, original equipment manufacturers (OEMs) were negative on the move and wire drawers stood somewhere in the middle. A half-dozen customers of the three mills hiking tags, Gerdau Ameristeel Corp., Evraz Rocky Mountain Steel and Keystone Steel & Wire Co. confirmed they received letters with the new prices, effective June 1, with all saying they believe the increases will stick. "I am sure they will flow through because scrap is up," a rod distributor in the upper Great Lakes region said. "We are planning accordingly (to raise prices to customers)." The owner of a service center in the Midwest said the exact same thing about raising his own prices, adding that "the probability that the (wire rod) price will stick is greater than it not sticking." May 5th, 2009  - Market Stats Brussels Belgium - Eurofer sees EU steel demand to be almost halved Eurofer said that Europe's demand for steel will be halved in the first 6 months of 2009 as the global economic slump hurts key sectors such as car builders and construction. It added that European Union industry has been hit hard by falling exports and tight credit supply. Eurofer said that "The outlook for the steel using industries in 2009-2010 is very grim, all sectors will be seeing strongly reduced output levels, particularly in the first half of this year." See Extended Story.. May 5th, 2009  - Market Stats London U.K. - World Steel Association's projections for apparent steel use The World Steel Association (worldsteel) forecasts that worldwide apparent steel use is expected to decline by -14.9% to 1,018.6 million metric tons (mmt) in 2009 after declining by -1.4% (1,197 mmt) in 2008. However, steel demand is expected to stabilize in the latter part of 2009 leading to a mild recovery in 2010. The worldsteel Board reviewed the forecast for 2009 at its meeting in London on 26 April. Commenting, Daniel Novegil, Chairman of the worldsteel Economics Committee said: "The progression of the US financial crisis into a global economic crisis brought about a massive and regionally synchronized global decline of steel demand in late 2008. See Extended Story.. May 4th, 2009  - Market Stats Brantford Ontario - Analysts and traders divided Copper prices may have hit bottom, but trends unclear Copper prices fell steep in the final months of 2008 with the December spot price on the London Metal Exchange (LME) at $ 3000 a tonne, as compared with the 2008 peak of $ 8668 a tonne which was hit in April. But in the first three months of 2009, the LME spot copper price averaged $ 3410 a tonne. CRU basing its forecast on mining, tube and cable producers said early April that they could see copper prices around US$ 2000 a ton. This was before China had started to stockpile and before gamblers pushed the three month price to $4590 per tonne (its close Friday). A panel of eight nonferrous metals analysts has revised downward to an average $1.53/lb the 2009 consensus price forecast for copper cathode, a 51% decline from the $3.15 average of 2008. The analysts aren't agreed, however, on whether the copper price bottom already has occurred or not. See Extended Story.. May 1st, 2009  - Market Stats London U.K. - EU steel market in disarray as cutbacks fail to stabilize prices Meps reports that a great number of market players are strongly critical of the size of the current EU mill production cuts. They consider that they are insufficient to bring order back into the marketplace. Producers have failed to announce new prices for second quarter deliveries. It seems that the traditional mode of monthly or quarterly pricing no longer exists. Customers continue to purchase the absolute minimum and, wherever possible, from local or imported stocks. Therefore, selling values continue to head downwards with buyers becoming increasingly nervous about where they will bottom out. Meanwhile, finance problems are an additional worry for customers and suppliers alike, as insurers are cutting cover and making a sluggish business environment even slower. See Extended Story.. April 29th, 2009  - Market Stats London U.K - 29 Is the recent copper price increase sustainable? Copper prices have increased 44% since December but Richard Adkerson, CEO of Phoenix-based Freeport-McMoRan Copper & Gold remains cautious about the short-term copper market. And that~{!/~}s why the firm~{!/~}s higher-cost North American operations have continued to cut back on production of copper and byproduct molybdenum. The London Metal Exchange copper price has risen to a month-to-date $2/lb average in April from a recent low average of $1.39 in December. But it~{!/~}s still far below the $3.94 monthly average cyclical high in April of 2008. Bloomberg News reports that analyst David Barclay at Standard Chartered Bank in London thinks copper could be trading as high as $2.57 by the end of May. See Extended Story.. April 28th, 2009  - Market Stats Tokyo Japan - Japan's copper cable shipments down an estimated 25% on year Japan's March copper cable shipments fell an estimated 25% on year, but rose an estimated 8.3% on month, preliminary data from the Japanese Electric Wire and Cable Makers' Association reports Shipments were estimated at 53,400 metric tons in March compared with confirmed shipments of 49,313 tons in February, which fell 32.7% on year. Official March results will be released in late May. April 25th, 2009  - Market Stats London U.K. - Copper drops as speculators get cold feet. Copper headed for its first weekly decline since March as casino gamblers realize that industrial demand is still weakening. Lead dropped after inventories jumped 13 percent. Japan~{!/~}s copper wire and cable shipments dropped to a 33- year low in the 12 months to March 31, the Japanese Electric Wire and Cable Makers' Association said yesterday. Copper for delivery in three months rose $23, or 0.5 percent, to $4,365 a metric ton at 1:48 p.m. on the London Metal Exchange. The metal has dropped 9 percent this week, paring its gain this year to 42 percent. Lead fell $43, or 3 percent, to $1,417 a ton. Inventories in warehouses monitored by the LME climbed 8,075 tons to 71,725 tons. The 13 percent advance was the most since June 17, 2008. April 23rd, 2009  - Market Stats Beijing China - Official China copper import data for March now released Imports of refined copper rose 9.6 percent from the previous month to 296,843 tonnes, up 137.6 percent on the year, Customs figures showed on Wednesday. This is the second consecutive month of record imports, although the figure was short of expectations for around 320,000 tonnes. "Price gaps in March were high, attracting arbitrage imports," said Zhu Yanzhong, an analyst at Jinrui Futures, a subsidiary of top Chinese producer Jiangxi Copper, referring to the gap between domestic and imported prices. He added the State Reserves Bureau (SRB) had also imported copper for a reserve-building plan and merchants had built stocks in expectation of higher prices. "Orders have fallen in April (from March). If imports continue strong, the domestic market will be oversupplied," a copper sales manager at a large trading house said. See Extended Story.. April 20th, 2009  - Market Stats Brantford Ontario - Steel recyclers inventory seems cleared and prices on the rise also for rod A report from Tunis suggests that Turkish wire rod producers have passed higher scrap prices on to buyers in north Africa and the Middle East. The latest wire rod export sales were closed at $470 to $480 per tonne f.o.b. for May production, up from $450 to $460 last week. Ferrous scrap prices have risen over the past few weeks as stocks dwindled and steelmakers were forced to re-enter the market. Mills last booked an 80-20 mix of No. 1 heavy melting steel scrap at $240 per tonne c.f.r. to Turkish ports from European and U.S. sources, up from $230 a week earlier. CIS rebar sees USD 50 per tonne hike. See Extended Story.. April 17th, 2009  - Market Stats London U.K. - Speculators are driving nickel prices while copper rise on China stockpiling The benchmark three-month nickel contract on the London Metal Exchange MNI3 bumped along near its lowest in almost six years until finally surging this week as more base metals followed copper's steady gains. Prices have jumped 13 percent this week to $12,500 a tonne, but still well below a record high of $51,800 in 2007. Copper is also on a surge. LME three-month metal in the last two weeks jumped another $475 per tonne, or 10.0 per cent, as of its Wednesday close at $ 4769. It was the fifth straight weekly rise, bringing the year-to-date increase to a staggering 60% percent. See Extended Story.. April 16th, 2009  - Market Stats Pittsburg Pennsylvania - U.S. wire rod prices maintain continuous decline MetalBiz reported that due to the weak demand and declining shredded scrap price, U.S. domestic wire rod price continued falling. Market participants said that the price will further decline in May and June. As for the imports, Turkey offered US$474-496 per ton for wire rod, dropped US$22 per ton compared with last week and some buyers said the spot price was US$441 per ton. Although the official price remained stable, the low-carbon wire rod ex-work price stood at US$551-573 per ton; actually, the real domestic price has fallen to a low level. It is said that the price maybe continued sinking while the demand probably has reached the bottom. Note: As wirenews reported yesterday rod prices are quoted as low as US$ 390 - US$ 400 in some areas, this could however be liquidation of inventory April 9th, 2009  - Market Stats London U.K. - MEPS says average steel prices continued to slide in all regions . Mill outages continue in the US, with operating levels now under 50 percent. There is still negative pressure on transaction prices as sales fail to recover. All the major steel consuming sectors are affected by the financial and economic crisis - from construction through to manufacturing and particularly the auto industry. Moreover, distributors are buying very little as they wait to see some pick up in consumption. Although holes are appearing in inventories, they are not being filled. See Extended Story.. April 7th, 2009  - Market Stats Yanchao, Kaohsiung Taiwan - Yieh Hsing cuts stainless steel wire rod prices YIEH.corp reported that Taiwan~{!/~}s Yieh Hsing has announced to cut its stainless steel wire rod prices by NT$3,000/ton for April. The company has remained its price on carbon steel wire rod unchanged. Prices will be depending on different steel grade and order quantity. Domestic stainless steel wire rod market remained sluggish, which is the main reason for the price drop. Besides, import prices are being offered at a lower level. In February, the stainless steel imports totaled 991 tons. Japan was the biggest exporter of stainless steel wire rod to Taiwan, at 498 tons. April 6th, 2009  - Market Stats Dubai United Arab Emirates - Gulf states demand for medium and high voltage cables is 270 000 km. ArabianOilandGas.com reports that After enduring the effects of wildly fluctuating raw materials prices over the past few years, those in the cabling sector must now brace themselves for the global economic downturn. As construction projects are cancelled and postponed, firms must adapt to ensure their survival and the overall quality of installations in the long-term. But can a healthy utilities sector in the region helping to counteract any negative effects from the building market? Most industries have now seen some effects of the current worldwide recession. However in the Middle East at least one sector seems to be not only maintaining a healthy status, but is actually growing - that of utilities infrastructure. In January the Government of Dubai announced a AED 37.7 billion public sector spending plan as part of its 2009 budget; this included significant expenditure in infrastructure projects including electricity networks. See Extended Story.. April 2nd, 2009  - Market Stats Santiago Chile - Is Copper Heading For a Fall? - CRU thinks so With CESCO week upon us and CRU’s World Copper conference about to start, the world could not be more different to that of twelve months ago. Here CRU has looked at some of the key themes in the copper industry during this time of extraordinary global financial turmoil. There are still (relative) winners in the mining sector of our industry and, for those that can survive, the boom times will return. Not, however, before the shattering of the fragile price “recovery” witnessed in the opening months of 2009. See Extended Story.. April 1st, 2009  - Market Stats Cairo Egypt - Middle East wire rod prices crash Middle East Steel Prices has fallen sharply in last week especially long products It is reported that a major WRC producer in this region has come upstream offering equivalent to USD 460 per tonne ex works as against import offers of USD 430 per tonne CNF basis Middle Eastern ports. The sudden spurt in supply has led to the plummet in domestic price levels as buyers prefer domestic sourcing over imports due short lead time and customized delivery in small lots. Moreover the ghost of “old inventory” continues to haunt the market. On the flip side, there is a remarkable improvement in import offers as billets are earlier being offered USD 370 per tonne to USD 380 per tonne and rebars at USD 430 per tonne to USD 440 per tonne CNF Middle Eastern port levels respectively, but no bookings are reported as buyers have already piled inventory at much lesser levels earlier. The potential for these prices to hold on seems bleak. On the other hand, Turkish steel mills, which are the major supplier to MEA, increased their FOB offer levels for long products. Flat prices have remained stable but longs seem to be heading downhill. Long product prices have shown quantum decline 3% for Rebars up to 24% for wire rods and 7% in plates in Saudi Arab. March 30th, 2009  - Market Stats Brantford Ontario - Chinese rebar and wire rod export price update It is reported that Chinese rebar and wire rod prices saw evident rebound this week. In Shanghai, HRB335 20mm rebar goes at 3170 per tonne to 3180 per tonne; HRB400 grade material is posted at CNY 3230 per tonne to CNY 3270 per tonne up by CNY 60 per tonne to CNY 70 per tonne and CNY 50 per tonne to CNY 60 per tonne respectively from last Friday. Prices for commercial wire rod go down by CNY 40 per tonne to CNY 3180 per tonne to CNY 3190 per tonne. Hi-speed material prices remain fell by CNY 40 per tonne to CNY 50 per tonne to CNY 3210 per tonne to CNY 230 per tonne. Source Steel Guru www.steelguru.com See Extended Story.. March 28th, 2009  - Market Stats Washington, D.C. - Steel Imports decline 33% in February Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,553,000 net tons (NT) of steel in February 2009, including 1,443,000 NT of finished steel (down 34% and 33%, respectively, vs. January final data). Total and finished steel imports on an annualized basis are down 26 and 17 percent, respectively, vs. 2008. Annualized total imports of steel in 2009 would be 21.6 million MT. Finished steel import market share is an estimated 29 percent in February, just below the 32 percent average in the 4th quarter of 2008.Key products with increases in February 2009 compared to January include Electrical Sheet and Strip (up 42%), Cold finished Bars (up 22%), Plates in Coils (up 14%) and Hot Rolled Sheets (up 9%). Wire rods were down 50.1% to 42,571 ton from 85,314 ton while drawn wire dropped 16.2% to 32,931 ton from 39,280 ton. March 27th, 2009  - Market Stats Tokyo Japan - Japanese March copper cable shipments expected to drop to 34 year low Japanese copper wire and cable shipments in the year to March 2010 are expected to fall to a 34-year low, Japan’s Electric Wire and Cable Makers' Association said on Thursday. Shipments are estimated to reach 705,000 tonnes, down 7.9 percent from the current year, the Japanese Electric Wire and Cable Makers' Association saidwhen releasing February figures. Demand for copper wire and cable, has plunged as the economic crisis forces automakers and other manufacturers to curb production the association said Editors note: We will follow up with actual figures as soon as they are made available to us by the Japanese Electric Wire and Cable Makers' Association March 24th, 2009  - Market Stats Alger Algeria - Turkish steel exports to Arab countries surge by 37% YoY Arab Steel reported that Arab imports of the Turkish iron and steel products amounted to more than 1.972 million tonnes during March and February 2009 compared to 1.441 million tonnes during the same period in 2008, with an increase of 36.8%. The report said that Egypt ranked first among the Arab countries importing from Turkey with a total quantity of 687413 tonnes within two months compared to 12860 tonnes in the same period in 2008 of which 610680 tonnes are rebars. The United Arab Emirates retreated to the second rank as its imports in the same period of 2009 amounted to 246485 tonnes compared to 936680 tonnes at the beginning of October 2008. The decline amounted to 73.69%. The imported finished products amounted to 1.7 million tonnes of which 1.532 million tonnes are rebars, 112.600 tonnes sections, 47.700 tonnes wire rods and 8080 tonnes of hot rolled coils, while the imports of the same period in 2008 of the finished products amounted to 1.175 million tonnes with an increase of 44.62% of finished products. The rest of imports were distributed over the other products. The billets imports amounted to 130835 tonnes, pipes 127557 tonnes, coated sheets 11915 tonnes and cold rolled sheets 1660 tonnes. March 19th, 2009  - Market Stats Hong Kong - Stainless steel production drops by 6.9% worldwide in 2008 The International Stainless Steel Forum (ISSF) said that global stainless steel production in 2008 has dropped by 6.9 percent compared with 2007, down from 27.84 million tons to 25.91 million tons. This is the second year in a row after a decrease of 2 percent in 2007. ISSF added that the first half of 2008 was in sound and positive position, but, because of the financial and economic crisis, it followed by an “extremely depressed” second half. Stainless steel production in China reduced by 3.6 percent to 6.9 million tons in 2008, and in other Asia countries reduced by 10.3 percent to 8.1 million tons. Production in the Western Europe-Africa region dropped by 4.8 percent to 8.3 million tons, the Americas dropped by 11.1 percent to 2.3 million tons, and the Central and Eastern Europe region dropped by 8.6 percent to 333,000 tons For full media release use this link March 19th, 2009  - Market Stats Brantford Ontario - US wire rod prices continues to slide and follow scrap downward trend As US scrap price slide wire rod prices decline with it. Last week US domestic wire rod price slid by USD 22 per tonne as compared the first week in March. The low carbon wire rod factory prices are now quoted around US$ 600 per tonne but there is downward pressure on prices but scrap prices seems to be the price guide. Turkish mills are still offering low prices in the import market, prices as low as USD 535 to USD 557 per tonne has been reported March 18th, 2009  - Market Stats Kampala Uganda - IMF forecasts that Uganda's economy will continue to grow Uganda 's economy will continue to be one of Africa's fastest growing despite the worldwide economic downturn and tighter global credit conditions, the International Monetary Fund (IMF) forecast in February. In its annual review of Uganda's economy, the IMF projected economic growth to stay in the 7% range before climbing to about 8% in the 2011/2012 and 2012/13 fiscal years. The optimistic forecast is largely due to recent discovery of significant oil reserves in Uganda which has boosted investor interest, the report stated. The IMF commended the Government of Uganda on its sound macroeconomic policies and its commitment to scaling up investment in infrastructure such as the current building of an optical fiber cable backbone. It has recommended that the government provide some fiscal stimulus to offset tougher global conditions, including increasing tax revenues by 1% of gross domestic product annually. See Extended Story.. March 12th, 2009  - Market Stats Tokyo ,Japan - Japan's core machinery orders fall 3.2% in January Japanese core machinery orders registered the longest on-month declining streak on record in January due to evaporating demand amid a global economic downturn, the latest sign that Japan's recession may get worse. The orders fell a seasonally adjusted 3.2% on month, the Cabinet Office said Wednesday. The result marked the fourth straight month of decline, which is the longest run since April 1987, when the government began to take the data in a comparable method. The finding, which is seen as a reliable gauge of future capital investment, is better than the 4.7% drop expected by economists surveyed by Dow Jones and The Nikkei. March 12th, 2009  - Market Stats Beijing China - China hit by massive drop in exports Chinese exports slumped 25.7 per cent in February shrinking its trade surplus to $7.5 billion, from $61 billion in January, as the collapse in global demand caught up with the country's exporters and overshadowed a sharp rise in domestic investment. China~{!/~}s exports have decreased since November, but until last month the rate of decline had been much slower than in other Asian countries with large export sectors. Economists said the headline figure for last month, which was already much worse than expected, probably masked an even steeper decline given that there was a shorter number of working days in February 2008 due to new-year holidays. See Extended Story.. March 9th, 2009  - Market Stats Shanghai China - Chinese rebar and wire rod prices remain under pressure Steel Guru reports that Chinese rebar and wire rod prices have kept edging down by small amount this week. The sluggish market is expected to sustain for another two weeks at least. In Shanghai, HRB335 20mm rebar goes at 3170 per tonne; HRB400 grade material is posted at CNY 3220 to CNY 3250 down by CNY 80 per tonne and CNY 110 per tonne respectively from last Friday Prices for commercial wire rod and hi-speed material go down by CNY 70 per tonne and CNY 40 per tonne to CNY 3170 per tonne and CNY 3210 per tonne to CNY 3220 per tonne respectively. As forecast, prices are on the decrease. Taking Shanghai price for HRB335 20mm rebar as benchmark, it is going to approach CNY 3100 per tonne to CNY 3000 per tonne as long as it remains below CNY 3300 per tonne. See Extended Story.. March 7th, 2009  - Market Stats Beijing China - Prospect good for wire and rod mills Wei Zengmin analyst with mysteel says China steel industry has a major capacity surplus for heavy plate, while steel wire and rod production capacity is in short supply. Therefore China's current elimination plan to wipe out small outdated blast furnaces and converters, mainly used to produce steel wire and rod, may not have the desired effect of reducing the overall industry surplus. It is also expected that in the next couple of years, China's demand for steel wire and rod will continue to expand on the back of its ongoing urbanization, and that excessive elimination of outdated facilities could create a bottleneck for China's future infrastructure construction. March 5th, 2009  - Market Stats Cairo Egypt - Egyptian rebar manufacturers facing price turmoil as Turkey enters market Global steel Web reports that Turkish rebar manufactures have shifted their targets to Egyptian markets due to the fact that demand in their traditional Middle East region is deteriorating. Currently, Turkish rebars are quoted at US$450 per ton to US$460 per ton. It is likely that these prices shall decline even more. Ezz Steel has its Rebar pricing settled at US$606 per ton which is considerably greater than that of Turkish origin. Ezz shall have to reduce its prices in order to make them more competitive or loose market share. March 3rd, 2009  - Market Stats Washington D.C. - Preliminary January U.S. Imports for Consumption of Steel Products. The U.S. Census Bureau announced today that preliminary January steel imports were $2.9 billion (2.1 million metric tons) compared to the preliminary December totals of $2.7 billion (1.8 million metric tons). The January change in steel imports based on metric tonnage reflected increases primarily in heavy structural shapes and line pipe greater than 16 inches in diameter. Monthly changes in steel imports reflected increases primarily with Korea and Russia. The year to date final statistics through December 2008 showed steel imports of 29.0 million metric tons compared to 30.2 million metric tons through December 2007. The largest commodity decreases were in reinforcing bars and blooms, billets, and slabs. The largest commodity increase was in oil country goods. The largest country decrease was with Brazil. The largest country increases were with Canada and India. Wire rod imports decreased in January was 78,572 metric tonne down from 94,122 in December. Drawn wire imports was 35,300 tonne up slightly from 34,560 tonne in December. Imports of Line pipes larger than 16”was 120,600 tonne up sharply from 71,355 tonne in December while line pipe smaller than 16” showed a decline to 54,608 down from 67,732 tonne in December. Oil country goods pipe imports increased to 468,152 tonne up frrom 424,478 tonne in December. For details broken up on alloyed steel, stainless and carbon steel products use this link February 28th, 2009  - Market Stats Shanghai China - China copper demand draws down LME inventory and provides floor price support China is sucking in thousands of tonnes of copper from across Asia, but rather than representing an explosion in demand, the flow could just be Beijing filling its storehouses with metal at bargain prices. Attractive margins are encouraging Chinese investors and merchants to import refined copper cathode, drawing down stocks at London Metal Exchange warehouses. The State Reserves Bureau (SRB) is believed to have nearly finalized orders to import 300,000 tonnes of refined copper cathode in coming months, taking advantage of a 60 percent fall in prices since the metal hit a record $8,940 in July. Reuters report that SRB placed a 40,000-tonne order to a Chinese copper smelter last week, smelter and trading sources said. Strong import demand from the world's top consumer of copper has reduced the availability of the metal in LME warehouses in South Korea and Singapore, driving up premiums. Traders said premiums for LME copper in Singapore had risen from around $80 last week to $95 this week and may hit triple digits in the near future. See Extended Story.. February 26th, 2009  - Market Stats London U.K. - Steel prices in most emerging markets continue to slide Meps the London based steel analysts reported on their web site that purchasing activity in Turkey remains extremely low. Most long and flat product producers conceded further reductions. Trading conditions in the UAE continue to be tough. Dubai-based dealers were able to raise some product prices this month but the market is no nearer recovery. Some producers in the Russian Federation and the Ukraine raised their quotations. Buyers in both countries were unimpressed owing to low purchasing activity. Not all the gains have been maintained. Cheaper semi-finished products are likely to bring about pressure for lower prices. Nothing new has occurred in the South African market. Long product producers continue to be kept busy by state-funded construction and infrastructure developments. Difficult trading conditions persist in the flat products segments. However, transaction values remained unchanged this month. See Extended Story.. February 25th, 2009  - Market Stats Tokyo Japan - Cable shipments continue to fall Japan's Electric Wire and Cable Makers’ Association reports. Japan’s copper wire and cable shipments plunged 21.2 percent in January from a year earlier, the biggest monthly drop in more than three decades, according to the Japanese Electric Wire and Cable Makers’ Association. Shipments dropped to 53,100 metric tons from 67,385 tons a year earlier on slumping demand, the group said today in a statement. The drop, according to preliminary data, was the biggest since February 1975, when shipments fell 31 percent. January's Japanese Cable shipments Product Jan '09 Yr/Yr% Dec '08 -Telecommunications 1,700 -9.2 1,428 -Electric Power 6,600 3.1 5,232 -Electrical 10,200 -37.4 12,200 -Automobiles 4,500 -39.3 5,576 -Construction 25,100 -11.2 27,324 -Others 3,600 -30.7 3,910 -Exports 1,400 -28.1 2,015 TOTAL 53,100 -21.2 57,685 See Extended Story.. February 23rd, 2009  - Market Stats Hamburg Germany - Copper Market Norddeutsche Affinerie's Monthly news letter looks at actual trends Anyone currently trying to get an accurate picture of the copper market has taken on a difficult task. He must try to make a sensible whole out of partly contrasting market factors, while at the same time almost only the short term dominates these days. Market participants are still in shock as a result of the continuing financial and economic crisis, which has meanwhile hit the real economy head-on. All the same, the global packages to support the financial systems and boost the economy seem to be spreading optimism and are showing first effects. Leading indicators in the U.S.A., Great Britain, Belgium and France have risen surprisingly in the last few days. Even if it is not yet possible to predict the beginning of an economic upswing, this is a sign that the economic slide could have reached its limit To view full forecast use this link February 19th, 2009  - Market Stats Shanghai China - Steel prices continue downward path in China Steel Guru reports that China's domestic steel market continues to be sluggish and most steel products witness a price fall after the festival of lanterns. As reported, by February 13, 25mm rebar in ten major cities averaged at CNY 3852 per tonne down by CNY 118 per tonne from last week; 5.5mm HRC went at CNY 3761 per tonne on average, down by CNY 201 per tonne WoW; 1.0 mm HR sheet stood at CNY 4625 per tonne, down by CNY 126 per tonne from previous week. Due to the little transaction caused by soft demand, domestic second or third tier mills reduce their ex works prices for construction grade steel products and flats. On the contrary, large-sized mills like Anshan Steel and Benxi Steel are to raise their March price. Nevertheless, the increase growth will be less than that by Wuhan Steel in last week. In addition, medium and small mills in Hebei, the largest private owned steel production base, have started to cut ex works price since February 11th. Hebei Puyang Steel decreased ex works price for its wire rods by CNY 100 per tonne from February 9th; Hebei Qianjin Steel Group cut the price for its strips by CNY 80 per tonne from February 11th See Extended Story.. February 14th, 2009  - Market Stats Washington D.C. - US wire rod prices continue to fall Due to the weak demand, US steel wire rod prices continue to fall. Currently, the U.S. low-carbon wire rod price is at US$639~~683/ton, down by US$22/ton on average. Meantime, Turkish wire mesh import price maintains at US$562~~584/ton as the same as last week, and China~{!/~}s offer was higher than Turkey~{!/~}s. The imports of wire rod in the second half of 2008 totaled 89,905 tons per month and that in first half was 92,035 tons per month February 9th, 2009  - Market Stats London U.K. - Base Metals brake recent rise Friday Base metals ended the week lower on the LME, as an earlier rise turned into a more pronounced decline, with string of US economic releases worst than expected, ending a run of recent encouraging data from China. U.S. copper futures ended lower Thursday after gloomy employment figures and data showing a further deterioration in the manufacturing sector weighed on prices, helping to snap a two-day rally in the metal. Copper for March delivery shed 3.10 cents to close at $1.509 a lb on COMEX division, had gained nearly 7 percent on the week, hitting a one-week high on Wednesday at $1.5695. It dragged down by bearish economic data showing a 26-year high in weekly U.S. jobless claims and a greater-than-expected 3.9 percent drop in factory orders in December. LME warehouse stocks raised 2,650 tones to 502,600 tones. On the production front, Chile's Codelco said its Andina division produced 219,554 tones of copper in 2008, below an earlier forecast for 220,000 tones. The figure was up 0.56 percent from the 218,322 tones produced in 2007. See Extended Story.. February 9th, 2009  - Market Stats Shanghai China - China copper import volumes holds up Imports of unwrought copper and semi-finished copper products by China, the world's biggest consumer of the red metal, are expected to remain high in January, and imports of copper cathode near December's all-time high of 211,527 tonnes. But strength in imports should not be seen as a sign of an explosion in real demand for industrial metals in China, analysts say. The cost of imported copper remained lower than prices in the domestic market for much of last month, providing attractive margins for spot imports, even though the Chinese economy is caught in the grip of the global financial slump. The inflow therefore reflects profit opportunities for merchants who buy metal on the international market for sale at home. See Extended Story.. February 7th, 2009  - Market Stats Brantford Ontario - U.S. wire rod prices continue to fall Because of the high stock and bleak demand, the U.S. wire rod prices continued to fall. Currently, the U.S. low-carbon wire rod price hit US$661~~683/ton (ex-work price), which was lower than last week's US$705/ton. As for the import, the situation is also not very optimistic. At present, Turkey~{!/~}s wire rod export price to the US was quoted at US$562~~584/ton. February 6th, 2009  - Market Stats Shanghai China - Chinese steel price upturn continues MySteel.net reports that China's steel prices have posted 10 consecutive weeks upturn since mid November last year, with main products like rebar, wire rod, CR/HR and medium plate all posting slight upswings. And the rise continues now. China Securities Journal reported that however, price for HRC in the forward trading market in Shanghai has tumbled. And market analysts believe it was due to the concerns for future price trend after the long-term up-tick, Data shows price for 25mm rebar was offered at CNY 3,868 per tonne yesterday, up by CNY 52 per tonne from the last trading day; 6.5mm high-speed wire rod at CNY 3,853 per tonne up by CNY 41 per tonne; 5.5mm HRC at CNY 4,025 per tonne surging CNY 55 per tonne; 20mm medium plate at CNY 3,962 per tonne rising CNY 57 per tonne and 1mm CRC at CNY 4,727 per tonne up by CNY 60 per tonne. In detail, rebar price rises some CNY 300 per tonne, or 8.3%; HRC up CNY 870 per tonne, or 28.4%; CRC up CNY 709 per tonne or 17.6%; medium plate up by CNY 452 per tonne or 12.8% See Extended Story.. February 2nd, 2009  - Market Stats Helsinki Finland - Latin America best performing region in Nokia Siemens ICT index The five Latin American economies that featured in Nokia-Siemens Networks' (NSN) global ICT index, the Connectivity Scorecard, all came out in the top 40% of emerging markets, director of the study Leonard Waverman told BNamericas. The study of 50 countries 25 emerging markets and 25 developed markets is designed to measure the extent to which governments, businesses and consumers make use of connectivity technologies to enhance social and economic prosperity. The Connectivity Scorecard also measures usage and skills, such as literacy, the use of enterprise software and the accessibility to ICT to women. The Latin American economies' rank was, in order of points scored, Chile (6.59), Mexico (5.39), Argentina (5.14), Brazil (5.12) and Colombia (4.08), all above the emerging markets' median of 3.6. "As a region that is the best performance," Waverman said, though he added that the five countries had differing strengths and weaknesses. See Extended Story.. January 29th, 2009  - Market Stats Brantford Ontario - Copper plummets and LME inventory soars as speculators exit market. A worsening global recession is expected to slash copper prices by 50 percent this year as slowing economic activity hits demand, a Reuters survey of analysts showed. That copper would dropped from its unrealistic high of $8,940 should come as no surprise since the market was totally detached from industrial demand and driven by speculators. This editor does not for a minute believe that the price will fall an additional 50% from its four-year low of $2,825 in late 2008. Instead the market will be allowed to find it's demand/supply equilibrium now when the speculators are temporary out of the market (or are they?). Mine closures will be determined by production costs and supply automatically curtailed to match demand. Demand for copper used for plumbing cannot really fall much more and demand from cable is likely to hold up fairly well. The Joker in the deck in my opinion is the value of the US dollar versus other currencies. See Extended Story.. January 27th, 2009  - Market Stats Chicago Illinois - Midwest US wire rod prices still falling According to a survey conducted by Japan Iron & Steel Federation, domestic market prices of steel products in the USA trended downward in the Middle West as of December 31st 2008. As a result, there is a view that local market prices will take still more time to bottom out. As of December 31st 2008, Midwest market prices of long products fell by USD 37 from a month ago to USD 875 per tonne for structural shapes and by USD 171 to USD 727 per tonne for wire rods. But they rose by USD 48 from a month ago to USD 620 per tonne for rebars, a rebound for the first time in four months. January 27th, 2009  - Market Stats Baoding China - Hebei Steel Group adjusts ex-work prices Hebei Steel Group, including Tangshan Steel, Chengde Steel and Xuhua Steel announced that exworks prices for wire rods, rebar and HR/CR products will increase. Ex-work prices for rebar and wire rods up by CNY 80 per tonne. 6.5mm high speed wire rod stands at CNY 3660 per tonne. 16mm to 25mm HRB335 rebar goes at CNY 3660 per tonne while 28mm to 32mm HRB335 rebar price goes up by CNY 50 per tonne from 2nd grade rebar and HRB 400 rebar and small rebar prices up by CNY 150 per tonne from 2nd grade rebar. Coiled rebar is priced at CNY 3700 per tonne. January 26th, 2009  - Market Stats London U.K. - Base Metals lost 65% of their value in one year Base metals once used to be the hottest commodities as the world was witnessing a construction, retail and information technology boom in the last few years. But in the last one year, base metals like nickel, copper, aluminum and zinc have been steadily losing in value that their stockpiles are jumping up and production cuts are increasing. According to an analysis from Commodity Online Research, base metals have lost a massive 65% of their value in 2008. “Bearish trends are burning the base metals especially in the wake of declining US retail sales and slumping housing across the world, including Asia,” said the report. Copper fell to a one-week low in London, dropping for a third consecutive day, as expanding stockpiles of the metal signaled worsening demand. Aluminum rebounded from a five-year low. Inventories of copper in warehouses monitored by the London Metal Exchange rose 1.2 percent to 422,450 metric tons, the highest since January 2004. The economy in China, the largest user of the metal, grew 6.8 percent in the last quarter, the slowest pace in seven years, the statistics bureau said today. See Extended Story.. January 26th, 2009  - Market Stats Riyadh Saudi Arabia - Rebar and wire rod price in Saudi Arab jump up by US$ 40 Steel Guru reports that wire rod and rebar domestic prices in Saudi Arab have surged in last few days. As per market reports, wire rods prices have increased by SAR 150 per tonne to reach SAR 2200 per tonne to SAR 2400 per tonne levels. Rebar prices are reported to have surged by SAR 140 per tonne to SAR 175 per tonne. The latest price indications, after the increase, from the market are as under. 8mm – SAR 2450 per tonne. 12mm – SAR 2110 per tonne. 16mm – SAR 20280 per tonne. The market sources also added that Saudi Arabian steel major has increased the price levels of the wire rods by SAR 150 per tonne, which translates to about US$ 40 per tonne. January 24th, 2009  - Market Stats Shanghai China, - China steel exports up 7 % in December but wire rod exports lag Reuters reports that China's crude steel output rose 7 percent in December for the first time in six months, in contrast to sharp drops in neighbours Japan and South Korea, as a massive government spending plan pushed mills to lift run rates. Production may further increase in the coming months as China is one of the few countries expected to show a small growth in output this year, encouraged by the spending plans, though global output is seen falling by 7-8 percent, analysts said. The recovery in steel production in December comes as China plans to spend nearly $600 billion to spur its slowing economy, fueling a 25 percent rise in steel prices in just two months from a two-year low in late November. Some steel mills, including Baosteel, have raised steel prices in recent months, reflecting improved market conditions in China but at the same time raising concerns the country's improved output and moves to encourage exports may hurt any recovery in global steel prices. China's steel industry utilization is running at around 70 to 80 percent, already up from around 60 percent in early November, and nearly double the 40 percent seen in the United States. Although its massive infrastructure spending is driving the recovery hopes on long products such as rebar, wire rod and sections, cold-rolled steel is under severe pressure due to the global recession. January 23rd, 2009  - Market Stats Hamburg Germany - Norddeutsche Affinerie's Copper Mail this month offers insight to actual trends in the copper market Annual settlements for 2009 have now been reached on the concentrate market between mining companies and smelters. The agreed TC/RCs at US$ 75/t and cents 7.5/lb are significantly up on the prior year figures, recent spot settlements are even much higher. Mines are fearing that the already started production cutbacks will increase during the year. By contrast, the supply of copper scrap has remained very low. The uncertainty here, similar to the copper product business, is still considerable in view of the lack of reliable basic information. The spot business is currently very subdued in both sectors. For full newsletter use this link January 23rd, 2009  - Market Stats Tokyo Japan - Japan's December copper cable shipments down 17.7 pct yr/yr Japanese copper wire and cable shipments fell 17.7 percent in December from a year earlier to an estimated 57,600 tonnes due to declines in most sectors including automobiles, industry data showed on Thursday. Shipments to the automobile industry, one of the few bright industrial sectors until late last year, dipped 31.4 percent year-on-year to 5,600 tonnes, declining for the third month in a row. Production cuts by automakers has been a major blow to the copper industry, hit by shrinking demand due to the deepening global recession. January 13th, 2009  - Market Stats Beijing China - Chinese rebar and wire rod steel export prices show further increase Mysteel.net reports that Chinese rebar and wire rod price continue to edge up this week on sentiment of further investment in construction. While exports market keep slow anyway. In Shanghai, HRB335 20mm rebar is being quoted at CNY 3610 per tonne to CNY 3620 per tonne; HRB400 grade material is posted at CNY 3790 per tonne up by CNY 100 per tonne and CNY 130 per tonne to CNY 140 per tonne respectively week on week. Prices for commercial wire rod and hi-speed material remain rebound by CNY 170 per tonne and CNY 130 per tonne to CNY 3690 per tonne and CNY 3720 per tonne to CNY 3740 per tonne respectively. Taking Shanghai price for HRB335 20mm rebar as benchmark, there would be further increase as long as it remains above CNY 3500 per tonne. Prevailing export offers for alloyed rebar are at USD 560 per tonne to USD 570 per tonne FOB. Quotations for commercial grade are tagged at USD 620 per tonne to USD 630 per tonne FOB and USD 630 per tonne USD 65 per tonne fob for BS grade product. January 9th, 2009  - Market Stats London U.K. - Copper rally falters Oil rose on Thursday, after diving 12 percent overnight, but demand concerns pushed metals lower and investors will look to key U.S. non-farm payrolls data on Friday for further guidance on the macroeconomic outlook. Base metal inventory continued to swell in LME warehouses, with copper surging by 6,375 tonnes to 357,700 tonnes. The Dow Jones AIG index is adding weight to copper and some other metals traded on the New York Mercantile Exchange's COMEX division and the re-weighting takes place from Jan. Prices jumped 12 percent in the past three days as commodities gained on optimism that government spending around the world will revive raw materials demand. Rising U.S. unemployment figures pushed industrial metal prices lower in London yesterday on concern slower growth will damp the outlook. Copper was down to $3,210 a tonne, and nickel declined to $11,650 a tonne and lead touched to $1,157 a tonne. January 9th, 2009  - Market Stats Beijing China - Wuhan steel releases latest Exworks prices for February It is reported that Central China's Wuhan Steel has adjusted its EXW prices for some products in this February on the basis of its January prices. Wire Rod will be up CNY 120 per tonnes for common carbon wire rod and up CNY 300 per tonnes for 82B, and CNY 150 per tonnes for others. Source Steel Guru January 3rd, 2009  - Market Stats London U.K. - Oil and gold tumble, but base metals buck trend. Oil and gold prices fell sharply on Friday as commodity markets made a weak start to 2009 following their worst ever losses last year. Industrial metals, by contrast, bucked the trend with Nickel for three months delivery soaring 15.8 percent to a peak of $13,550 a tonne, the highest price since Oct 30, while lead, tin and zinc also rose sharply on fund buying. Nickel was one of the worst performing commodities in 2008, effectively lowering its weighting in commodity indices, and the index funds are expected to buy the metal as they seek to restore the balance to normal levels. Copper, which slumped more than 50 percent in 2008, rose more modestly to $3,120 a tonne from $3,070 a tonne at the close on Wednesday. U.S. light, sweet crude fell $2.82 or 6.3 percent to $41.78 a barrel by 1255 GMT, reversing part of Wednesday's $5.57 a barrel gains. Oil tumbled 54 percent last year. See Extended Story.. January 3rd, 2009  - Market Stats London U.K. - 2008 global consumption of optical fiber predicted to come in at 134 million fiber-km CRU’s Optical Fiber & Fiberoptic Cable Monitor, (a bi-monthly information service, the worldwide optical cable consumption) reports that a totaled 33.5 million fiber-km in Q3, sustaining the strong demand of Q1 and Q2, when 34.1 million and 34.2 million km of cabled fiber were consumed. The three-quarter total exceeds 100 million km of cabled fiber. Optical cable demand in the first three quarters of 2008 has grown 17% relative to the same period of 2007. Using the average seasonal trend of the last four years, worldwide optical demand for 2008 would come in at 134 million fiber-km, representing 13% growth over the 118 million fiber-km total in 2007. See Extended Story.. December 31st, 2008  - Market Stats Chicago Illinois - Buyers of low carbon steel wire rod continued to see lower prices in December. Average transaction prices reported to purchasingdata.com for wide-flange beams dropped 11% from November to about $814 per ton. Hot-rolled plate (Midwest) dropped 8% to $933. And wire rod plummeted 17% to $741. The exception was rebar, which went up about 13% to $647. December 30th, 2008  - Market Stats Tokyo Japan - Japan’s copper cable shipments down sharply in November. Japan's copper cable shipments are expected to be down 16% on year and 10% on month in November, the Japanese Electric Wire and Cable Makers' Association (JCMA) said Monday. The JCMA confirmed shipments of copper cable totaled 71,168 metric tons in October, down 8.4% on year, and estimated November shipments would total 63,900 tons. Official November results will be released in late January. December 30th, 2008  - Market Stats London U.K. - Copper prices may have leveled off after 65% drop since July 2008 On Tuesday December 23rd the London Metal Exchange, three-month copper closed at $2,870 a tonne, down from $2,960 Monday, when it touched its lowest price since October 2004. New York Comex followed suit and copper for March delivery dropped 6.45 cents, or 4.8 percent, to close at $1.2810 a lb. At 0236 GMT yesterday saw a rebound on the London Metal Exchange, where three-month copper was at $2,899/ton. Prices of the metal used in power and construction have fallen about 65 percent since a record high of $8,940 in July. The world refined copper surplus rose 67 percent to 120,000 tonnes in the first nine months of the year as weak demand in Japan, the European Union and the United States more than offset strong Chinese demand, the International Copper Study Group (ICSG) said. December 29th, 2008  - Market Stats Shanghai China - Chinese rebar and wire rod exports see no improvement Chinese rebar and wire rod prices were stable this past week and there is also no price change for export markets. 20 millimeters rebar is being quoted at CNY 3460 per tonnes to CNY 3470 per tonnes; HRB400 grade material is posted at CNY 3570 per tonnes to CNY 3630 per tonnes down CNY 50 per tonnes to CNY 60 per tonnes and CNY 60 per tonnes to CNY 80 per tonnes respectively. Offers for export of alloyed rebar are quoted at between USD 550 per tonnes and USD 570 per tonnes fob. Quotations for commercial grade are tagged at USD 610 per tonnes to USD -630 per tonnes fob and USD 630 per tonnes to USD 640 per tonnes fob for BS grade product. Offer for boron added wire rod has risen to USD 540 per tonnes to USD 570 per tonnes fob and that for material without boron are about USD 600 per tonnes to USD 610 per tonnes fob. That for high carbon 82B goes at USD 640 per tonnes to USD 650 per tonnes fob. Transactions remain thin due to a combination of uncompetitive export price and weak demand by overseas end users. A Shanghai based trader said that their construction steel export business to Middle East have almost stopped for two months due to huge stock at the destination and to work off the inventory may takes at least 4 months. It is not possible for Chinese exporters to compete with suppliers in Turkey and CIS in terms of export price. On the other hand, steel mills are not willing to reduce price further considering better domestic market level. Hence there would be no improvement in construction steel exports soon. December 23rd, 2008  - Market Stats Brantford Ontario - US steel wire prices seems to have stabilized. US domestic steel wire prices have stabilized at price levels not seen since the mid 1990th. No wire or wire rod is presently imported at these prices. There is no established floor price in the market as rod inventories are being cleared and most users are shutting down their plants until well after New Year. In the case of automotive related wire many parts suppliers are shut down all of January. As earlier reported some mills are stuck with wire rod inventory that are being converted and the wire sold below rod replacement cost. No one can be sure that prices have dropped to the bottom but one thing is clear once current rod inventory is converted and shipped, wire rod prices will have to drop or wire prices go up before anybody is going to make any more steel wire. The market drop-off came very sudden in October and it will take a couple of month for the market to adjust. December 19th, 2008  - Market Stats London U.K. - Chinese copper imports may be rising defying market belief The strength of Chinese copper imports in November seems to have defied market expectations, for the second month running. However, the arbitrage between Shanghai and London remained positive for imports last month and that is still the case this month. Moreover, China's continued appetite for refined copper suggests a more complex dynamic than the simplistic "doom and gloom" view of events in the local market. The first snapshot of China's trade figures in November suggested that refined copper imports actually fell month-on-month. The preliminary report aggregates imports of refined metal, alloy, anode and products. November's 217,214 tonnes were 6.0 percent off the pace of October. However, the second, more detailed breakdown of November trade showed that the decline overly reflected a sharp fall in imports of copper products, which fell to 58,618 tonnes in November from 74,900 tonnes in October. Imports of refined metal, alloy and anode were 158,600 tonnes and, assuming that monthly trade in alloy and anode didn't deviate too far from the average rate of the previous 10 months, imports of refined metal alone were probably around 138,000 tonnes. See Extended Story.. December 18th, 2008  - Market Stats Washington D.C. - US raw steel capacity utilization rate drops to 49% in 2nd week of December American Iron & Steel Industries reported that in the week ending December 13th 2008, US's raw steel production was 1.168 million tons while the capability utilization rate was 49%. Production was 2.102 million tons in the week ending December 13th 2008, while the capability utilization then was 88.1%. The current week production represents a 44.5% YoY decrease from the same period in 2007. Production for the week ending December 13th 2008 is down by 1.2% WoW from the previous week ending December 6th 2008 when production was 1.182 million tons and the rate of capability utilization was 49.5%. Adjusted YTD production through December 13th 2008 was 98.297 million tons, at a capability utilization rate of 82.9%. That is a 4.7% YoY decrease from the 103.104 million tons during the same period last year, when the capability utilization rate was 87%.AISI's estimate is based on reports from companies representing about 75% of the US's raw steel capability and includes revisions for previous months. December 16th, 2008  - Market Stats Dubai UAE - Qatar Steel sees '09 Gulf rebar demand down 30 percent. Demand for reinforcement steel used in construction, or rebar, in the Gulf Arab region is expected to fall by at least 30 percent in 2009, Qatar Steel said on Monday. "It will be a very challenging year," said Ali Hassan al-Muraikhi, manager at the commercial division at Qatar Steel, a unit of Industries Qatar. "The demand will start declining and the decline will be in the range 30 percent for 2009 considering the (global) financial problems and falling oil prices," he told Metal Bulletin's steel and iron ore conference in Dubai. Infrastructure and construction demand had pushed rebar prices to above $1,500 per tonne in July. Falling demand since then has pushed them to around $500 per tonne currently. "The mills in this region have to consider cutting production. They have to consider the worst-case scenario to cut their costs," he said. See Extended Story.. December 15th, 2008  - Market Stats London U.K. - Meps reports Europe's steel market deteriorates into outright chaos We are witnessing unprecedented steel market conditions. As mill order books collapsed, the steel makers were left with substantial amounts of part and fully-finished products. Consequently, there have been very few forward orders and most deals in the last two months have been supplied from producers' ex stock material. Producers continue to impose deep output cuts in the face of this extraordinary downturn in real consumption and a massive de-stocking program by customers. It is likely to be some time in the first half of 2009 before these measures bring the market back into balance and put a floor under ever-decreasing prices. The weak sales are tipped to worsen as the traditionally slow Christmas/New Year period fast approaches. Meanwhile, the steelmakers appear to be delaying any price decisions for the first quarter 2009 as long as possible. See Extended Story.. December 11th, 2008  - Market Stats London U.K. - Supply response keeps copper behind the curve Reuters reported Tuesday that copper prices have collapsed over the last few months but there is a growing body of opinion that they have not fallen far enough relative to the other LME metals. There is concern that copper producers have not been responding fast enough to plummeting global demand for the red metal, leaving the copper market vulnerable to further price weakness in the coming period. Since the London Metal Exchange (LME) copper contract is commonly viewed as the bellwether of the base metals complex, often determining overall mood and price direction, the implications are equally significant for the rest of the LME pack. See Extended Story.. December 4th, 2008  - Market Stats Taipei Taiwan - Feng Hsin reduces wire rod price by 24% for December After Taiwan~{!/~}s China Steel Corp. announced that its wire rod price for Q1 would be lowered by NT$7,000/ton, its competitor, Feng Hsin, also decided to reduce its December shipment price by NT$7,000/ton to ensure the company's market competitiveness. The rate of the price reduction is about 24 percent and will also retroactively apply to November shipments. Feng Hsin's plan will leave their wire rod price at a lower level than CSC's offer, in order to have a better opportunity to obtain new orders from end users. December 4th, 2008  - Market Stats Seoul Korea - Hyundai Steel cuts construction steel prices by 11% Korean Hyundai Steel recently states that they will reduce price by 11 percent for construction materials since 1 December which has almost reached to the lowest price in the global market due to global financial crisis, reduction of scrap & domestic price and appreciation of exchange rate of KRW. The company~{!/~}s rebar and H-beam prices will be down to 821,000 won/ton and 970,000 won/ton. The lowest KS rebar price in Korean market is US$500/ton currently which is similar to the China~{!/~}s current domestic lowest price US$450/ton (exclusive of 17%tax). December 1st, 2008  - Market Stats Washington D.C. - U.S. imports of both steel wire and wire rod rose in October During January to October in 2008, American import of steel products stood at 2.477 million tons, down by 5.6 percent compared with the same period last year. However in October, U.S. witnessed the import of wire and wire rods, as well as pipes rise. The amounts imported from China, Japan, Turkey, Russia and Ukraine increased sharply while that from the Mid-south America and EU dropped dramatically. Till November 25, U.S. has imported 1.93 million tons steel products during this month. The import of steel products in this month may be less than last month, but it will definitely surpass the number last year. US Steel wire & Wire rod imports January - September Product 2008 tonne 2008 value US$ 2007 tonne 2007 value US$ Wire Rods 814,164 741,708 1,192,355 735,533 Drawn Wire 523,629 848,704 566,938 761,363 US Steel wire & Wire rod imports October Preliminary Product 2008 tonne 2008 value US$ 2007 tonne 2007 value US$ Wire Rods 107,268 123,404 83,687 96,819 Drawn Wire 58,736 81,718 54,747 75,419 November 29th, 2008  - Market Stats Shanghai China - Chinese domestic wire rod prices shows volatility. Chinese steel index surged to 246.7 from 217 in the first half of 2008. However it returned to 111.1 on November 2nd a sharp decrease of 55% from the peak level. Most traders are astonished at such a swift drop which has never happed in 17 years. Rebar and wire rod prices have seen evident rebound on CNY 4 trillion economy simulation programs by state government. However, industry experts mention that it takes time for Chinese steel industry to recover due to weak demand, much less exports. As Chinese economy is highly dependent on exports, the recession in world economy would lead to less Chinese products and steel as well. November 27th, 2008  - Market Stats Taipei Taiwan - China Steel cut production by 10% and slash prices by 23% in 1st Q. Taiwan~{!/~}s largest maker of the metal China Steel, will slash prices by an average 23 percent for domestic customers, its first cut in almost three years as a global recession damps demand. The company said it will lower price for wire rod by NT$7,000 November 26th, 2008  - Market Stats Brantford Ontario - MENA region still booming see ICF latest news letter Aggressive expansion has been the main characteristic of the cable industry in most parts of the MENA region with few exceptions like Israel and Iran Over the last two years there has been very strong growth in imports of wire and cable into the countries of the Gulf & Arabian Peninsula. Though there has been growth in several countries of this region, by far the strongest contribution to the total has been in imports into the UAE and Saudi Arabia. To access ICF news letter use this linkto the ICF web site. November 22nd, 2008  - Market Stats Tokyo Japan - Japan October copper cable shipments down 7.9 pct yr/yr 2007 for the data to show a decline in shipments from the automobile sector, which until now had been one of the industrial areas where demand has been fairly robust. Exports also fell year-on-year defying the expectations of industry officials, many of whom had anticipated brisk overseas sales to last at least until March 2009. Only the telecommunications and Japanese copper wire and cable shipments fell 7.9 percent in October from a year earlier to an estimated 71,600 tonnes, with a decline in most sectors including automobiles, industry data showed on Friday. It was the first time since August the electric power industry showed a year-on-year increase in October November 21st, 2008  - Market Stats Washington D.C. - Producer price index declines 2.8% in October The Producer Price Index for Finished Goods fell 2.8 percent in October, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported yesterday. Nonferrous wire and cable prices dropped 7.7 percent – the largest monthly decline since 1949. The decrease brings the year-over-year change down 5.4 percent from October 2007. Prices for fabricated ferrous wire products increased 2 percent in October following a slight decrease in price the month prior. Still, prices are up an astonishing 30.55 percent from a year ago. The index for hot rolled steel bars, plates, and structural shapes dropped 8.5 percent following a 4.4-percent decrease in September. "One of the big winners in declining materials prices is the federal government," said Basu. "The next stimulus package will likely possess a significant infrastructure component, and with lower materials prices, the federal government will be able to purchase more infrastructure per dollar. This would appear to be an advantageous moment for the nation to begin to build its 21st century infrastructure, since such investment would address both short- and long-term economic considerations." November 19th, 2008  - Market Stats London U.K. - Supply demand imbalance sends EU steel prices in free fall UK based consulting group MEPS said that demand for steel in the EU has collapsed. It said that ~{!0~}Current price levels are, however, hard to verify because very few forward orders are being placed. Buyers are afraid to purchase because selling values are dropping on a daily basis. Moreover, customers' orders books have reduced dramatically - leaving OEM's and distributors with excessive inventories.~{!1~} See Extended Story.. November 8th, 2008  - Market Stats New Delhi India - Indian metal prices down on weak global demand. Base metals, copper and nickel turned soft this past week in New Delhi largely in tandem with weak global trends and lost up to Rs 20 per kg. Prices of copper super rod and copper wire bar were down by Rs 20 each at Rs 245 and Rs 222 per kg, respectively. Traders said that Indian market followed LME copper and other base metal prices down on expanding stockpiles and global growth concern. November 6th, 2008  - Market Stats Englewood Cliffs, New Jersey - Global steel demand to fall by 5% in 2009 Mr Peter Marcus managing partner at World Steel Dynamics said that global steel demand will fall by 5% in 2009 as the financial crisis tips economies into recession, curbing purchases of the metal. He added that "New orders for steel in all regions of the world have had probably an unprecedented decline. We have gone from a chill to the deep freeze. Buyers have been on strike since July 2008." Mr Marcus said that the global economic downturn is prompting consumers to delay purchases of homes and cars, driving down steel prices and forcing mills including ArcelorMittal to consider production cuts. Prices of iron ore may fall as much as 30% in the coming year and coking coal may drop as much as 50%. He added that “Global apparent steel demand will be down 3% in 2008 and is expected to fall 5% in 2009. The steel industry is facing at least two years of significant oversupply." November 5th, 2008  - Market Stats Istanbul Turkey - Upturn seen in scrap and billet prices Steel Guru reported yesterday that scrap prices and billet prices have recently seen a slight rebound. Scrap offers CIF Turkey are reported at USD 180 per tonne as against previous levels of USD 150 per tonne. Similarly, it is reported that sellers have increased their billet offers by USD 30 per tonne FOB Black Sea. This signals bottoming out of steel prices and if sellers are successful in getting these increases, steel prices would see some upsurge in coming days. November 4th, 2008  - Market Stats Taipei Taiwan - China Steel Corporation output dropped in September by 9.8% YoY Taiwan's largest steel mill China Steel Corporation has produced 750,008 tonnes of steel and steel products in September 2008, down by 9.8% YoY. Sales volume fell by 9% YoY to 773,391 tonnes, while revenue jumped 32.1% YoY TWD 24.4 billion. For August 2008, output was 900,710 tonnes, sales volume was 870,581 tonnes and revenue was TWD 26.5 billion. For January to September 2008 period, production totaled 7.6 million tonnes, sales volume was 7.7 million tonnes and revenue was TWD 201.2 billion as compared with 7.6 million tonnes, 7.7 million tonnes and TWD 152.2 billion, respectively. November 3rd, 2008  - Market Stats Brantford Ontario - Import price of wire rod into US continuing to drop as US dollar rise US import price of wire rod is continuing to drop dramatically, the biggest price drop reached as much as US 88 per tonne. Current import prices of wire rod are prevailing at USD 705 to USD 728 per tonne. Some agents are offering even lower prices since China and Turkey have continually reduced their offers. However, buying sentiment remains poor; buyers are only buying for urgent demand as they waiting for rock bottom prices. Domestic mills are receiving some orders for first half of November, and they will be forced to reduce their prices again for the second half of November and for December, to compete with import sources. November 3rd, 2008  - Market Stats Tangshan Hebei China - 50% steel mills idled in Tangshan as recession starts to bite According to a survey by local industry analysts, collapsing global steel markets have caused the closure of half of the steel making capacity in Tangshan. Empty trucks line the roadside and most shops have closed their doors. The closures have led to severe job losses and raise more questions about the health of the Chinese economy. Ms Yao Guoying analyst with Steel Bus, a Tangshan industry information service, said that "More than 50% of blast furnace capacity in the Tangshan area is idle and there are no signs of any improvement. Very few are preparing to re start, and those that are very small." Analysts are struggling to understand the panic selling that has swept through Chinese steel mills and traders and caused average steel prices to fall about 40% since July. Prices this week appear to have stabilized at levels below the cost of production for most Chinese mills, particularly those that are still consuming stockpiles of iron ore and coking coal purchased at earlier high prices. Chinese rebar and wire rod export prices drop See Extended Story.. October 31st, 2008  - Market Stats Mumbai India - India's Metal producers turn off manufacturing as prices decline The slowdown in global economy due to the liquidity crisis has affected among all sectors, the metals industry, such as steel plants wire and tube mills an integral part of the metals sector. are currently mulling production cutbacks and price cuts, a reminder of the situation way back in 2000 when the industry faced its worst crisis ever. The impact isn't limited to steel alone. The non-ferrous industry including aluminum and copper has also seen a sharp reduction in prices although this industry hasn't so far indicated any move toward a cut in production. See Extended Story.. October 30th, 2008  - Market Stats Kolkata India - Steel wire prices down by 20 percent Prices of steel wires have fallen by nearly 20 percent in the last six weeks due to a fall in demand, a top official of the Steel Wire Manufacturers Association of India said. "The prices have dropped from Rs.55,000-Rs.60,000 (USD 1,100-USD 1,200) per tonne to Rs.45,000-Rs.50,000 (USD 900-USD 1,000) per tonne," said B.L. Jajodia, chairman of Steel Wire Manufacturers Association of India. The export of steel wires, dropped last financial year to 73,000 tonnes from 300,000 tonnes the year before in 2006-07. "This year we expect to export 100,000 tonnes," he said. Talking about the 10 percent exemption of export duty announced by the government on steel wire, Jajodia said government should do away with the duty as this is resulting in price escalation of the product and the exporters are loosing established markets abroad. The total value of the steel wire industry is estimated to be Rs.49 billion (USD 1 billion). The association is hopeful that it will collectively manufacture 1.5 million tonnes of steel wires this fiscal year. There are about 64 manufacturers in this sector. The major players in this sector are Tata Steel, Rashtriya Ispat Nigam Limited, Ramsarup Group and the Steel Authority of India Limited. October 29th, 2008  - Market Stats Osaka Japan - Japanese electric wire shipment in September up by 1.6% YoY Japanese Electric Wire & Cable Makers' Association, announced that Japanese electric copper wire shipment increased by 1.6% YoY to 70,400 tonnes in copper volume in September from a year earlier. The shipment improved for almost all applications from August 2008 and the shipment of optical fiber products increased by 2.5% YoY to 2.57 million kilometers core in August 2008 from a year earlier. October 28th, 2008  - Market Stats Brussels Belgium - WSA sees steel demand growth above world GDP in 2009 The World Steel Association said that it still expected growth in steel demand in 2009 and for the medium term above the rate of world GDP growth. Mr Ku Taek Lee chairman of World Steel Association and also chairman & CEO of POSCO said that "We are in a period of high economic uncertainty. The impact on steel markets is becoming more apparent as we move into the later part of 2008. However, we continue to expect growth in steel demand in 2009 and for the medium term, above the world GDP growth rate. "The IMF has previously forecast that global growth would slow from 5% in 2007 to around 3% in late 2008 before reaccelerating towards 4% in 2009. October 27th, 2008  - Market Stats Brussels Belgium - Crude Steel production falls in September. World crude steel production for the 66 countries reporting to the World Steel Association was 108.4 million metric tons (mmt) in September. This is 3.2% lower than the same month last year. Total world crude steel production was 1,035.8 mmt in the first nine months of 2008, a 4.6% increase over the same period in 2007. In September 2008, the world crude steel production moving annual total (MAT) growth rate further slowed to 4.7% from 5.6% last month. This coincides with a number of new mills coming on stream. See Extended Story.. October 25th, 2008  - Market Stats Brantford Ontario - LME copper heads for 2nd biggest weekly fall London copper futures fell 5 percent on Friday, their fifth straight day of losses, and with prices down almost 20 percent so far this week, the market is set for its second biggest weekly loss on record. Growing worries the world is heading into a recession have caused copper prices to plummet an astonishing 39 percent in October and the metal will likely also see its biggest-ever monthly slide, surpassing the March 1980 fall of just over 24 percent. Last week, prices dropped by just over 20 percent. "There is still more room on the downside for all metals especially copper," said Judy Zhu, commodity analyst at Standard Chartered Bank. London Metal Exchange copper for delivery in three months fell 5 percent to $3,840 a tonne by 0711 GMT, having touched a three-year low of $3,815 overnight. "Copper prices are just starting to nibble at the top of the cost curve, but we have not heard of any major cutbacks in production," Zhu said. She added prices could dip to $3,500 and even to $3,000, the bottom of Standard Chartered's cost curve estimates. Chile's state-owned Codelco, the world's largest copper miner, said the high price super cycle was over and it was taking measures to address slumping prices. "The super cycle has come to an abrupt end," Codelco Chief Executive Jose Pablo Arellano said on Thursday. October 24th, 2008  - Market Stats Beijing China - Domestic steel prices fall despite efforts to reduce output As the world financial crisis continues and markets deteriorate, iron and steel enterprises have taken measures to limit production and keep prices steady. Even with these measures, the domestic steel prices index fell for the first time in years. The major steel market specific varieties are: construction steel prices fell sharply, with a price decline of more than 650 Yuan per ton. While construction steel prices fell in general, the high-end products that are in Guangzhou, Fuzhou, Changsha and other similar areas declined most sharply, with a per-ton average price drop of 850 Yuan. There were 51 steel producers and 35 wire manufacturers that have adjusted their prices downwards this week and Guangzhou Iron and Steel and Shaoguan Iron and Steel led the charge with their one-time, high-end, ex-factory price drops of up to 850 Yuan per ton. Shagang cut the price of their construction steel products by 600 Yuan per ton. October 18th, 2008  - Market Stats Taipei Taiwan - Taiwanese wire rod prices continue to tumble YIEH.com reports that the wire rod price in Taiwanese market is dropping continuously. The reason for this price decline lay in the fact that the demand and the market are very sluggish at this moment. The import wire rod price of killed steel from China has dropped below TWD 22,000 per tonne, but the price still can’t be acceptable for buyers. Taiwan’s China Steel Corporation’s domestic wire rod price of Al killed steel is at TWD 31,000 per tonne and this price is also too high to make out sufficient sales at this moment. Some dealers said that they must decrease the price in order to digest the stocks and to get the cash of flow, therefore some prices have been dropped to TWD 28,000 per tonne even to TWD 27,000 per tonne. October 15th, 2008  - Market Stats Shanghai China - Chinese steel market under adjustment amid weak demand MySteel.net reported Sunday that the financial tsunami continues across the world despite the attempted USD 700 billion bailout and dragging down the steel market further in China after the National Day holiday. On October 6th, 4.75mm HRC price plunged CNY 200 per tonne to some CNY 4300 per tonne in Shanghai, while plate, rebar and wire rod also followed down. See Extended Story.. October 14th, 2008  - Market Stats Shanghai China - Chinese steel market plunges with price collapses Steel Guru reports that domestic price of major steel products continues dropping and is struggling at its bottom line following October 6th, the first workday after the National Holiday. Market participants are all flurried to future. Shanghai HRC price plunges CNY 200 per tonne to CNY 3930 per tonne closing the deal at the limit down in electronic trade the second time successively. Beijing construction steel price caves with rebar price falls CNY 180 per tonne to CNY 4250 per tonne wire rod price dives CNY 120 per tonne to CNY 4130 per tonne. On the one hand, steel output released simultaneously in advance contributes the crash of HRC price partially, on the other hand, dull housing market also generates the collapse of steel construction price indirectly. October 14th, 2008  - Market Stats New Delhi India - India’s metals prices melt on turmoil in global markets. The slide in base metals continued unabated in the national capital on Friday largely in tandem with weak trend on the London Metal Exchange on concerns of a global economic slowdown. A weakening rupee, which dipped to a six-and-a-half-year l ow of 49.26 against the dollar, too, put pressure on prices. Tin also remained under selling pressure and fell sharply to Rs 930 a kg from Rs 1020, while nickel (4x4)melted down to Rs 830-1000 a kg from Rs 994-1141. Traders said weak trends at global markets, reduced off-take by consuming industries and weakening rupee mainly affected base metal prices. Following were today's quotations per kg (in Rs): Tin ingot 930, zinc ingot (Hindustan) 89, nickel plate (4x4) 8 30-1000, antimony (china) 260-300, gun metal scrap 259, bell metal scrap 245, copper wire scrap 290, copper super d rod 310, copper wire bar 307, copper mixed scrap 300, C C rod 308, Utensil scrap 292, Chadripital 249, brass sheet cutting 350, bullet scr ap 245, Bharat scrap 240, accessories scrap 243, brass boring 222-235, brass radiator scrap 195 and huny scrap 227. Lead ingot (Hindustan Zinc) 89, lead imported 90, aluminum ingots 112, sheet cutting 115, aluminum wire scrap 130 and aluminum utensil s scrap 110. October 8th, 2008  - Market Stats Brantford Ontario - US wire rod prices soften further American wire rod mills are trying to stabilize the market price although they are once again facing lower import prices due to an escalating dollar exchange rate. As per media reports, most American domestic rod mills reports constantly softening low carbon wire price now, but the deals are still in logjam due to lower demand and lower import prices. Besides, the American wire rod price keeps on falling in-line with the dropping scrap price. Meanwhile, the import prices from both China and Turkey are dipping consecutively. The Turkish price is very competitive recently. However, Chinese steel mills try to decrease the selling price in order to gain the orders. The buyers just wait and see presently, they don’t want to place big orders due to lower demand and instable economy. October 6th, 2008  - Market Stats Taipei Taiwan - Yieh Hsing to cut stainless steel wire rod prices Yieh Hsing Enterprise Co., Ltd, one of main wire rod producers in Taiwan, has announced to decrease stainless steel wire rod prices by NT$4,000/ton. In the mean time, Walsin Lihwa Corp., is also following suit. Yieh Hsing expects to attract more buyers and gain more sales after prices reducing. Yieh Hsing will also trim its carbon steel wire rod prices by NT$2,000/ton in an effort to reduce current stocks. However, the offers will be different depending on order quantities, according to the company. (source Yieh.com) October 1st, 2008  - Market Stats Teheran Iran - Iran’s rebar prices falling Iran’s rebar prices are still falling; current 12-25mm rebar prices have dropped to around US$1,000/ton compared to US$1,050/ton a week ago. Azarbaijan Steel failed in its rebar sale on the Iran Mercantile Exchange because the buyer asked for US$880/ton which the mill thought was too low. Some agents facing the same situation offered US$1,020/ton for Chinese rebar. Rebar shipments have decreased by a large range because buyers are delaying their purchases as prices continue to drop. Some private mills are forced to sell at lower prices for cash, under the condition of the current market recession October 1st, 2008  - Market Stats Istanbul Turkey - Turkish wire rod market remains weak Turkey’s domestic wire rod market remained weak, and since the end users can not predict the future trend of the economy, they won’t release their orders.Turkish end users have offers from Chinese and Italian suppliers. China’s suppliers offer an attractive price while Italy’s suppliers offer good quality. However, buying activity remains poor because the end users still have a large amount of stock now. In Dubai domestic market, the price of SAE 1008 with 6.5 mm dia. is US$750/ton. Meanwhile, China’s mills quote SAE 1008 wire rod with boron element at US$800-860/ton. September 29th, 2008  - Market Stats Tunis, Tunisia - Tunisia, soon a leader in the automotive wire and cable industry. Tunisia produces 2% of the world~{!/~}s automotive wire and cable production. It is also the sixth provider of car cables to the European market, including for such major car brands as Audi, Volkswagen Mercedes, but also Renault and Fiat. There are currently some 65 foreign car cable companies in Tunisia, mostly from Germany, France and Italy. So far, foreign direct investments have amounted 251,745 million dinars, (US$ 206,585 million) and the number of jobs generated by the sector has reached 25,418. Thanks to a 30 year old experience and to the competitiveness of its technicians and engineers, Tunisia has become the region~{!/~}s top automotive cable manufacturer and one of the world~{!/~}s leaders in the sector. Several automotive cable companies are increasingly investing in Tunisia, thanks to the many incentives the country offers. www.investintunisia.tn See Extended Story.. September 27th, 2008  - Market Stats Washington September - US steel wire rod imports fell 34.5% in August as economy slows US steel imports fell to 2.13 million tonne in August, down 19.3% from July and an 11.3% decrease from August 2007, according to preliminary data reported Tuesday by the US Commerce Department. For the first eight months of 2008, total steel imports decreased to 19.2 million tonne, down 10.8% from 21.5 million tonne for the same period a year ago. Among finished products, concrete reinforcing bars fell by 649,448 tonne (-46.1%) to 757,942 tonne, while wire rod imports fell by 379,164 tonne (-34.5%) to 721,268 tonne. Both of these products are subject to high tariffs, but imports primarily declined this year because world prices climbed above US price levels. As a result, foreign producers shifted goods to other overseas markets. Imports of cold-rolled sheet fell by 298,907 mt (-24.6%). September 27th, 2008  - Market Stats London U.K. - Is copper market edging into surplus? The International Copper Study Group's (ICSG) reports that copper may be edging into production-consumption surplus. The report covering the first half of 2008 suggests that a market correction is long over due, given the market's prolonged period of low inventory and prices that remain super high by any historical yardstick. The recent trend is still a tentative one and could yet be blown off course by the red metal's notoriously unpredictable supply side. The global refined copper market has recorded only one year of surplus since 2002, according to the ICSG figures. It happened in 2006, when supply outpaced demand by 239,000 tonnes. Since it followed three years of deficit, totaling a cumulative 1,454,000 tonnes, the 2006 surplus was too small to make much difference. Refined copper stocks held by the big three exchanges rose by 96,500 tonnes that year, not enough to create any sort of comfort cushion after several years of severe attrition. The rest of the surplus disappeared into equally depleted off-market stocks. The market swung back to deficit last year, albeit to the tune of a much more modest 23,000 tonnes. That, however, prevented any further build in inventory. The global refined market was in 130,000-tonne deficit again in the first half of this year, according to the ICSG's latest bulletin. September 26th, 2008  - Market Stats Chongqing China - China aluminum output roars on, despite price collapse Reuters reports that China's aluminum market, the world's largest, will remain weak for the next six months if smelters do not cut production by at least half a million tonnes before the end of the year. But few smelters are likely to pare production, despite some marking losses as prices plunge to their lowest since 2004 the report said. At a conference in the central city of Chongqing, officials from Chinese aluminum smelters, alumina refineries and trading firms said prices would continue at levels well below marginal costs, unless smelters significantly cut back output. Chinese smelting capacity has exploded in recent years. In the first eight months of 2008, the country produced 8.9 million tonnes of metal and is on track to churn out more than 13 million tonnes in the whole of 2008, twice the output in 2004. Worries about oversupply and soft demand have dragged Shanghai aluminum futures down by almost a quarter since mid-June, to a 4-year low of 15,200 yuan, as stocks balloon and demand for aluminium products both domestically and abroad slows. September 26th, 2008  - Market Stats Beijing China - Chinese steelmakers further lower product prices. More than 10 Chinese steelmakers followed the heels of Baoshan Iron & Steel Co., Ltd. to cut their product prices (wirenews September 24). Nanjing Iron & Steel United Co., Ltd. reduced prices of high-speed steel by CNY 200 per ton and those of ordinary round steel bar by CNY 100 per ton. China's top private steelmaker Jiangsu Shagang Group Co., Ltd. lowered prices of No. 80 hard drawn steel wire and cold-heading steel products by CNY 100 each ton. Maanshan Steel Co., Ltd. said yesterday that it would give distributors in Guangdong Province CNY 390 a ton for every ton of galvanized steel that the latter previously bought at prices higher than current market prices. And distributors in other areas would get similar subsidies of CNY 490 per ton for galvanized steel and CNY 320 each ton for color-coated steel products. China's top steelmaker Baosteel previously lowered prices of most of its products by around CNY 800 per ton for November, amid sluggish steel market. September 24th, 2008  - Market Stats Baoshan China - Steel wire rod prices drop as slowdown starts to bite. According to Mr Zhoutao Guojin Securities analyst in midst of the weak steel market and constantly decreasing prices, Baosteel again lowered its prices for Nov on top of October adjustments. This may help drive up downstream demand and could aid the annual benchmark ore pricing talks. By a bigger range than in October Baosteel pruned price of most steel varieties this time: 1. Steel billet and die steel by CNY 800 per tonne and CNY 1800 per tonne respectively 2. Ultra-low carbon wire rod by CNY 300 per tonne 3. Cold heading steel, high-carbon steel, PC wire and steel fiber by CNY 150 per tonne or CNY 200 per tonne. See Extended Story.. September 23rd, 2008  - Market Stats Shanghai China - Chinese rebar and wire rod export price decrease further. MySteel.net reports that export offer for Chinese construction steel continue to go down and trading remain thin. On Shanghai market, HRB335 20mm rebar is being quoted at CNY 4750 per tonne to CNY 4770 per tonne; HRB400 grade material is being quoted at CNY 4740 per tonne to CNY 4780 per tonne down by CNY 20 per tonne and up by CNY 20 per tonne respectively from last Friday. That for commercial wire rod drops by CNY 50 per tonne to CNY 60 per tonne to CNY 4650 per tonne to CNY 4660 per tonne that for hi-speed material saw a great decrease of CNY 30 per tonne to CNY 40 per tonne to CNY 4690 per tonne. Export offers continue to dive Some producers are quoting rebar (boron added) at USD 750 per tonne FOB down by USD 50 per tonne to USD 70 per tonne from early last week. USD 720 per tonne FOB is also heard for rebar with boron. A Shandong based steel maker say that transaction level over USD 700 per tonne FOB could break even for them. Quotation for wire rod goes at about USD 780 per tonne FOB a drop of USD 40 per tonne to USD 50 per tonne. September 19th, 2008  - Market Stats Alpharetta Georgia - Mills reduce prices of steel rebar, merchant bar as scrap prices collaps With benchmark shredded scrap prices collapsing by $170/gross ton this month to $400, some steel producers have cut prices by $70/net ton on rebar to $986 and $50/ton on merchant bar to $994. Nucor and Gerdau Ameristeel have issued letters to customers indicating that they have cut prices on both steel long products while Keystone Steel & Wire has cut rebar prices by $70. See Extended Story.. September 15th, 2008  - Market Stats Mumbai India - Metal index at 52-week low on softening prices The Bombay Stock Exchange’s (BSE) metal index closed at a 52-week low on Friday mainly due to the decline in metal prices globally during the week. The index declined by 7.7 per cent as compared with the 3.3 per cent fall in BSE’s benchmark index, the Sensex. Since September 5, 2008, the metal index has shed 904.35 points to close on 10,881.42 on Friday. On the London Metal Exchange (LME), metal prices declined in the range of four per cent to eight per cent during the week. The copper wire bar, lead, zinc and nickel prices fell more than five per cent each. In the domestic market, steel stocks fell after the steel ministry recommended a 5 per cent duty on iron ore exports in addition to the present 15 per cent to control the domestic prices of steel. September 12th, 2008  - Market Stats Shanghai China - Chinese steel rod export prices drop further. Chinese steel wire rod prices for export continue to go down as steel mills are trying their best to get overseas orders. However, most exporters find it difficult to conclude business as buyers are not in rush to import despite much lower than before. In Shanghai, HRB335 20mm rebar is being quoted at CNY 4820 per tonne to CNY 4840 per tonne while merchant wire rod price dropped by CNY 140 per tonne to CNY 4770 per tonne to CNY 4780 per tonne. Steel makers have cut export offers again this week due to slow demand. Some producers are now quoting rebar at USD 820 per tonne FOB and there is also report of even lower level of USD 780 per tonne FOB down USD 70 per tonne to USD 80 per tonne from early this month. September 12th, 2008  - Market Stats Riyadh Saudi Arabia - Infrastructure developments will demand more fiber optic cables in Middle East's Asian market. The fiber optic cable market in Middle East Asia shows continuous upward growth from the year 2005 to 2008, both in the market demand and in the production and fiber consumption by the manufacturers in the region. The Optic fiber consumption in Saudi Arabia by its 3 cable manufacturers topped the region with 1 million fiber kilometers use in the fiber optic cables produced in the year 2007. Out of this 1 million Middle east fiber cable co. has its highest share among the three manufacturers by leaving Riyadh cables to the second position. Middle East Fiber Cable Company, MEFC is planning to tap the regions potential market and the future demand by expanding its existing cable manufacturing facility with additional machineries from Rosendahl, an Austrian cable machine manufacturer. Middle East Fiber Cable Co. MEFC is investment collaboration with one of the major Optical fiber cable, accessories and equipment manufacturer from Japan, M/s Fujikura Ltd. See Extended Story.. September 11th, 2008  - Market Stats Brantford Ontario - Global mine project development explodes to $240 Billion. With more than $240 billion in planned mining projects worldwide, the mining industry is exploding with activity. Earlier worldwide demand and historically high commodity prices have been driving grass root mine construction and mine expansion projects. However, escalating development costs, and this week's collapse of commodity prices are placing constraints on project implementation. Will iron ore contracts be renegotiated? Wire rod traders are cautious waiting for prices to ‘bottom out’ before making a come back to the market. How are cable producers and especially distributors cooping with the rapidly descending copper price? September 10th, 2008  - Market Stats Taipei Taiwan - Taiwanese long steel product prices dropped last week Taiwan’s long steel product prices have decreased last week. Feng Hsin Iron & Steel reduced steel rebar price by TWD 2,000 per tonne to TWD 23,500 per tonne. And the current market price in South of Taiwan has fell to TWD 23,000 per tonne. Though China Steel Corporation raised the price of wire rod by TWD 1,800 per tonne, the market remains quiet. Current retailed price of CSC’s Al killed wire rod has dropped from TWD 35,000 per tonne to TWD 34,000 per tonne. Besides, prices of angle bar, channel steel, flat bar and square billet decreased by TWD 1,500 per tonne. Price of H-beam kept stable at TWD 37,000 per tonne. September 10th, 2008  - Market Stats Handan Hebei China - Handan Iron & Steel Co., Ltd raises wire rod price Mysteel.com reports that Handan Steel has raised prices by CNY 30 per tonne for wire rod and CNY 70 per tonne for rebar and round steel, on the basis of August settlement price for construction steel published by Hebei Iron % Steel Group. Latest price stands at CNY 5130 per tonne for 6.5mm high speed wire rod and CNY 5200 per tonne for HRB335 16mm to 25mm rebar. In the meanwhile prices for common carbon medium plate and shipbuilding plate are kept firm. The prices listed include a 17% Value added tax VAT, effective as of September 8th. September 6th, 2008  - Market Stats Brantford Ontario - Commodities decline on weak global demand The Standard & Poor's GSCI gauge of 24 commodity futures has fallen for six consecutive sessions and is down 27 percent from a record in July, signaling a bear market. Copper headed for the biggest weekly drop since January 2007. Aluminum, nickel, tin, lead and zinc also dropped The New York-based Conference Board today said the U.S. economy is ``stagnant,'' Europe is falling into a recession and central banks won't have much room to cut borrowing costs. The unemployment rate in the U.S., the world's second-biggest copper consumer and top oil user, climbed to a five-year high. Copper for delivery in three months fell $331, or 4.6 percent, to $6,895 a metric ton at 10:50 a.m. New York time on the London Metal Exchange. That's a weekly drop of 8.2 percent, the steepest loss since the week ending Jan. 5, 2007. Stockpiles monitored by the LME rose to a three-year high, signaling slowing demand in China, the world's biggest buyer of the metal. September 6th, 2008  - Market Stats London U.K . - Nickel risks further sharp fall on slow demand. Nickel prices could plunge another 25 per cent by the end of this year, unless orders from stainless steel producers in Europe pick up in the next two to three weeks. London Metal Exchange nickel has already experienced a steep decline this year -- three-month metal is down 23 per cent and traded around $20,060 per tonne on Friday. Undermining the market has been weaker-than-expected off-take from the stainless steel sector, which accounts for around two-thirds of nickel consumption. Demand for stainless steel, has fallen as consumers slow spending due to fears of economic recession and distributors delay restocking until the market stops sliding. See Extended Story.. September 6th, 2008  - Market Stats Shanghai China - China copper imports seen rising for 2nd month in August China's imports of unwrought copper and semi-finished copper products are expected to rise for the second consecutive month in August, boosted by lower domestic stocks and firmer Chinese prices. The imports should include 95,000-99,000 tonnes of refined copper, a key indicator of the appetite of the world's top consumer, but a full breakdown will only be released around Sept 22. China imported 88,075 tonnes of refined copper in July, up 16 percent on the month. "August's imports certainly should rise but should stay below 100,000 tonnes, given that arbitrage rates did not improve that much," said Wang Danping, an analyst at Jinrui Futures, a subsidiary of the country's top copper producer Jiangxi Copper. Domestic supply had fallen as a result of low imports in the previous few months, triggering imports, she said. The discount for Shanghai's three-month copper futures to the benchmark London contract, including China's 17 percent value-added tax, contracted to about 500 yuan this week, compared to 6,000 yuan earlier this year. Chinese investors tend to buy LME copper and sell the Shanghai metal when the discount disappears or contracts. See Extended Story.. September 6th, 2008  - Market Stats London U.K. - Zinc prices to slide further experts say Zinc prices continue to slide and before the market turns upwards, which, experts say is not any time soon, mine closures and output cuts can be expected while zinc prices drop. Weak demand and global oversupply will keep prices falling into 2010 some experts say. "We would need very, very, very significant production losses to bring the market back to balance" in 2009, said Giles Lloyd of industry consultants CRU Group. "Some producers are now realizing that they were being a bit hopeful thinking that the market could turn in 2010." The metal, mainly used to galvanize steel, is one of the worst performers in the metals complex this year. In August it dropped to its lowest level since November 2005 and is now trading around $1,745 a tonne, down almost 25 percent this year. Weaker demand will also slow the recovery of zinc prices. CRU's Lloyd said the signs are that demand in China, the world's biggest consumer of the metal, is beginning to slow strongly, and that the debate is whether internal demand will slow as export markets for China also weaken. Consumption is also falling in Europe, the next biggest consuming region after China, as economies slow down. European refined zinc demand fell 7.8 percent in the first half of 2008 from the year-earlier period, according to the International Lead and Zinc Study Group. Demand in Japan and the United States was little changed. September 4th, 2008  - Market Stats Jakarta Indonesia - Steel import soars on robust demand Indonesian steel imports reached a record high during the first seven months of the year due to limited production capacity and soaring demand driven by government-sponsored infrastructure projects. Imports of iron and steel were higher in the period than in the whole of last year, leading analysts to predict total imports this year will double last year's. According to the Central Statistics Agency (BPS), imports of iron and steel and their products in the seven-month period reached almost US$7 billion, or equivalent to 7.5 million tons, up by 127 percent from $3.08 billion, or 3.5 million tons, in the same period last year. The figure for this year's period is about 1.5 million tons more than the 6 million tons received in full in 2007. See Extended Story.. September 3rd, 2008  - Market Stats Wuhan, Hubei China - WISCO, slashes October prices by CNY 400 to CNY 600 per tonne Steel Guru reports that Central China's Wuhan Steel (Wisco) has cut October prices for some products significantly. Most prices have been pulled down by CNY 400 per tonne to CNY 600 per tonne on the basis of September prices. 1. Wire Rod down by CNY 100 per tonne for common carbon wire rod from Q3 level down by CNY 200 per tonne for other wire rod 2. CR down by CNY 320 per tonne 3. HDG down by CNY 50 per tonne to CNY 350 per tonne 4. Silicon Steel up by CNY 2000 per tonne for grain-oriented silicon steel. Prices for domestic steel products have declined for the seven consecutive weeks. But prices for some products tend to stop sliding or even inch up. August 27th, 2008  - Market Stats London U.K. - Copper down on firm dollar. Rising stocks and a firmer U.S. dollar dampened sentiment in industrial metals on Tuesday, while investors awaited U.S. data for more clues about the health of the global economy and future demand. "We are looking for more downside in copper, towards $7,000 per tonne very short term, until we see any signs of a pick up particularly in Chinese import buying," said analyst Gayle Berry at Barclays Capital. London Metal Exchange copper for delivery in three months fell $135 to $7,525 a tonne by 0932 GMT, after diving by 2.6 percent on Friday before a long weekend with London closed on Monday. See Extended Story.. August 27th, 2008  - Market Stats London U.K. - Nickel hits the producer pain threshold Xstrata has just provided ample evidence that nickel prices have now sunk to a level where producers at the higher end of the cost curve are feeling the pain. The company said Tuesday its Falcondo ferronickel operations in the Dominican Republic would be suspended temporarily due to "market conditions". The downtime is expected to be around four months, implying a loss of 9,500-10,000 tonnes of nickel in ferronickel to the market. See Extended Story.. August 25th, 2008  - Market Stats Shanghai China - Chinese Rebar and Wire rod export prices drop Mysteel.net reported Saturday that Chinese construction steel prices speed up its drop and this is also the case with export prices. Domestic market prices are still on the decrease .Shanghai market prices for HRB335 20mm rebar is being quoted at CNY 4940 per tonne to CNY 4960 per tonne, HRB400 grade material is being quoted at CNY 5000 per tonne to CNY 5030 per tonne down by CNY 200 per tonne to CNY 230 per tonne from last Tuesday. Commercial wire rod is at CNY 4840 per tonne to CNY 4850 per tonne that for hi speed material goes at CNY 4900 per tonne to CNY 4910 per tonne a decrease of CNY 470 per tonne and CNY 480 per tonne from early last week. Mysteel forecasts, taking Shanghai price for HRB335 20mm rebar as benchmark, it is going to reach CNY 4900 per tonne in the short term. If it falls below CNY 4900 per tonne, the next target would be CNY 4700 per tonne or even CNY 4500 per tonne. However, there would be rebound if it could remain above CNY 4900 per tonne. Export offers for rebar are about USD 920 per tonne to USD 930 per tonne for 10mm to 25mm. While BS4449 Grade 460 rebar with CARES certification at USD 1200 per tonne FOB to USD 1250 per tonne FOB. Quotations for wire rod are being exported at USD 960 per tonne to USD 950 per tonne FOB and that for material with boron is about USD 15 per tonne to USD 20 per tonne lower. August 24th, 2008  - Market Stats Doha Qatar - Qatar Steel net profits surge despite three-month freeze on prices QATAR Steel shrugged off the effects of a three-month price freeze by recording a threefold increase in net profits for the first half of 2008. The subsidiary of Industries Qatar (IQ) earned a net profit of QR1.22mn in the first half of this year compared with QR0.47mn in the year-ago period. Qatar Steel contributed 27% to IQ’s overall net profit of QR4.60bn in the review period, which more than doubled from QR2.05bn in January-June 2007, according to the financial statements. Its contribution to IQ’s net profit was 23% in the year-ago period. The surge in first half net profitability came amidst only 75% growth in Qatar Steel’s total revenue to QR3.08mn. Qatar Steel had decided to keep steel prices unchanged for three months until June as part of its measures to contain inflation in the country. Highlighting that the prices for the second quarter 2008 had been fixed, Qatar Steel general manager Sheikh Nasser bin Hamad al-Thani said, accordingly, the current retail price for standard sizes (16–40mm) would range from QR3,250-QR3,300 per metric tonne. These prices were lower by around QR1,000 per metric tonne compared with those in other GCC countries, said Qatar Steel, one of the largest integrated steel plans in the Arabian Gulf. See Extended Story.. August 24th, 2008  - Market Stats Taipei Taiwan - Taiwanese July wire rod imports dips by 47% from June Taiwan~{!/~}s import volume of wire rod in July 2008 has decreased by 47% MoM to 17,990 tonnes from last month. Size of D<14mm totaled 13,683 tonnes and the average price was TWD 28,730 per tonne. The import volumes in the January to July 2008 period reached 309,391 tonnes, decreased by 16% YoY. Besides, the exports in July 2008 decreased by 23% MoM to 17,948 tonnes. The imports of D<14mm totaled 16,335 tonnes and the average price was around TWD 27,490 per tonne. The total export in January to July 2008 period hit 145,412 tonnes, up by 4% YoY. August 24th, 2008  - Market Stats Istanbul Turkey - Rebar and wire rod prices crash by USD 200 at Black Sea It is reported that prices for rebars and wire rod FOB Black Sea crashed heavily this week The change in price levels between August 8th 2008 and August 15th 2008 is as under 1. Rebars – USD 220 per tonne 2. Wire rods – USD 200 per tonne August 16th, 2008  - Market Stats Shanghai China - Chinese wire rod prices continue to drop Mysteel reports that Chinese steel makers are quite careful on quotations of construction steel products citing the possible risk of price drop and contract default. Domestic market prices keep going down. Shanghai market prices for HRB335 20mm rebar is being quoted at 5130 per tonne to 5140 per tonne, HRB400 grade material is being quoted at CNY 5220 per tonne to CNY 5260 per tonne down by CNY 10 per tonne and CNY 20 per tonne from last Thursday. Commercial wire rod is at CNY 5310 per tonne that for hi speed material goes at CNY 53300 per tonne to CNY 5370 per tonne a decrease of CNY 70 per tonne and CNY 100 per tonne from late last week. Quotations for wire rod are being exported at USD 980 per tonne to USD 990 per tonne FOB and there has been contract price of USD 960 per tonne to USD 970 per tonne FOB. That for material with boron is about USD 15 per tonne to USD 20 per tonne lower. See Extended Story.. August 16th, 2008  - Market Stats - Insulated wire & cable demand in China to grow 13.1% annually through 2011 Demand for insulated wire and cable in China is forecast to increase 13.1 percent annually through 2011 to yens 335 billion. Gains will be fueled by strong gross fixed investment in power grid, telecommunication and building construction, as well as by further increases in production of products that incorporate insulated wire and cable. In order to accommodate the needs of the rapidly expanding industrial sector and to provide a solid foundation for continued economic development, the Chinese government is focusing on expanding and modernizing the country's utility facilities, including power grids and telecommunication networks. This is providing significant opportunities for power, electronic and telephone wire, and fiber optic cable suppliers. See Extended Story.. August 16th, 2008  - Market Stats Brantford Ontario - US wire rod prices may start to slide US domestic wire rod market is seeing a correction and the price may begin to slide, although domestic mills are increasing their prices for August 2008. A combination of dropping import offers and weak demand for scrap are the main reason. Some mills in South Korea and Malaysia are showing greater interest in the US market, as they are trying to offset weak markets at home, said a trader. Their prices are not attractive now, but it is expected that they will be o