TPT November 2013

Global Marketplace

Initial production at a rate of 1 million metric tons per year is projected to rise to 3 million mtpy in the second full year of operations. Output from the project, owned and operated by TSMC, is shipped as pellets and sinter fines to Tata Steel’s European units, formerly without a captive source of iron ore. A sector analyst with a global investment firm told The Hindu that Tata Steel could realise significant cost savings from a consistent supply of Canadian ores, improving its chances of profitability in Europe. › Strong local demand was cited by Tokyo Steel for its decision to raise prices on two

Energy Electricity companies are

expected to account for 67 per cent ($7 billion) of IT spending by Western European utilities in 2013 Western Europe Utilities Industry IT Spending 2012-2017 Forecast, a report from IDC Energy Insights, indicates that the outlay by that industry for information technology (IT) will

products for September delivery by about 3 per cent. Heavy plates and hot-dip galvanised steel coils are now at $706 and $839 per metric ton (pmt), respectively. Kiyoshi Imamura, the managing director of Japan’s top producer of construction steel, told reporters in Tokyo (19 August), “Local construction demand for heavy plates and hot-dip galvanised coils has clearly picked up and supply of these products looks tight.” Given the high output in the April- June quarter of some other products, Mr Imamura said their prices remain unchanged. H-beams, the company’s main product, still go for $757pmt, hot-rolled coils for $634pmt. Tokyo Steel’s pricing is closely watched by competitors intent on boosting their exports to Japan. These include POSCO and Hyundai Steel Co, both South Korean, and China’s Baosteel. › Despite sluggish demand, some US steelmakers have been raising their spot-market prices in an effort to boost profits and revenue. Effective with 1 October shipments, AK Steel (West Chester, Ohio) declared a rise of $25 per ton in the spot price of its 200, 300 and 400 series flat rolled stainless steel products. The new per-ton prices are: $675 (hot rolled); $775 (cold rolled); $795 (hot dipped galvanised). The move came on the heels of a rise on the same products, by a minimum of $40 per ton, announced in mid- June. Poised to gain from healthy automotive demand, AK Steel also said that base prices for its automotive exhaust grades would be increased by two to four cents a pound.

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November 2013

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