coking coal price

ArcelorMittal South Africa Ltd. (ACL) lost a court appeal to keep secret its environmental plans for an area polluted by the company’s biggest steel-producing plant.

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The Supreme Court of Appeal upheld a ruling that Amsa, as the unit of the world’s largest steelmaker is known, must hand over documents detailing its environmental-protection plan for the Vanderbijlpark plant in Gauteng province, according to a copy of the ruling delivered by the court yesterday.

“ArcelorMittal is a major, if not the major, polluter in the areas in which it conducts operations,” the court’s acting Deputy President Mohamed Navsa said in the judgment. “There is no room for secrecy.”

The plan was developed as “an internal document,” Amsa said in an e-mailed statement. It “will study the details of the judgment before responding to the ruling,” it said.

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Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 335.00 ($54.56) and a low price of CNY 325.00 ($52.93) per dry metric ton. The price of Chinese HRC rose 4.7% last Friday, just off the 30-day low of CNY 3,110 ($506.52) per metric ton it hit on Wednesday, November 26. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($226.39) per metric ton.

The steel billet cash price saw little price change last Friday on the LME at $500.00 per metric ton. On the LME, the 3-month price of steel billet saw little change in its price last Friday at $480.00 per metric ton.

The 3-month price of the US HRC futures contract showed little movement last Friday, hovering around $628.00 per short ton. The US HRC futures contract spot price saw little movement last Friday at $635.00 per short ton.

Allegheny Technologies Incorporated has received an additional order for its nickel-based alloy plate to be used in a large oil & gas pipeline project. ATI previously announced that it had booked initial orders for this project. Shipments are scheduled to begin in late fourth quarter 2014 and continue through the first half of 2015.

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“Total expected revenue of approximately $145 million from these orders represents the largest participation in a project in ATI’s history,” said Rich Harshman, Chairman, President and Chief Executive Officer. “For perspective, expected revenue from these orders is greater than 25% of ATI’s sales to the Oil & Gas/Chemical Process Industry for the first nine months of 2014.

Strengthening prices ended a three-day flat streak as the spot price of the US HRC futures contract moved up by 0.2% on Thursday, November 27 to $635.00 per short ton. The 3-month price of the US HRC futures contract held steady around $628.00 per short ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.84) and a low price of CNY 830.00 ($135.21) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 2,970 ($483.83) per metric ton. The price of Chinese coking coal held steady at CNY 1,390 ($226.44) per metric ton.

The cash price of steel billet saw little movement yesterday on the LME, closing out around $500.00 per metric ton. On the LME, the 3-month price of steel billet held steady around $480.00 per metric ton.

Schadenfreude is a feeling China’s steelmakers should learn to enjoy. Despite their own misfortunes, their suppliers are even worse off, the Wall Street Journal reports.

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Otherwise squeezed by too much capacity and too little demand, Chinese steel mills can celebrate the 48% collapse this year in the price of their key ingredient, iron ore. In contrast, the Shanghai price of reinforcing steel bars slumped only 17%. Thanks to this gap, steel companies across Asia improved their profit margins in the September quarter.

State-run Baoshan Iron & Steel or Baosteel, as it’s better known, sells about a quarter of its volume to car makers, Citigroup’s Jack Shang told the WSJ. This higher-value product called auto sheet sells at a 60%-plus premium to the closest commoditized variety of steel. Most of the rest of Baosteel’s output goes to make machines and home appliances.

Though car sales growth is also slowing, Baosteel sells more than 70% of its auto sheet to foreign car makers who are expanding faster than the broader market. I

Next year too, iron-ore prices should fall faster than steel, partly because of the difference in what ails them.

On Tuesday, November 25, the day’s biggest mover was the 3-month price of the US HRC futures contract, which saw a 0.2% decline to $628.00 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $634.00 per short ton.

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Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.78) and a low price of CNY 830.00 ($135.15) per dry metric ton. The price of Chinese HRC saw little movement at CNY 2,970 ($483.60) per metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,390 ($226.33) per metric ton.

The steel billet cash price saw little movement yesterday on the LME, closing out around $500.00 per metric ton. The 3-month price of steel billet remained essentially flat on the LME at $480.00 per metric ton.

PNC Bank and even the Pittsburgh Penguins NHL hockey club did some major wheeling and dealing to keep U.S. Steel‘s headquarters in Pittsburgh.

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The Penguins and developer Clayco of St. Louis will build, for U.S. Steel, a 5-story, 268,000-square-foot corporate headquarters on the former Civic Arena site by September 2017. As part of the deal, the company will receive New Markets tax credits and Local Economic Revitalization Tax Assistance (LERTA) tax abatements. The project potentially could qualify for a maximum of $7.5 million in property tax abatements over 10 years, depending on what is approved by the city, Allegheny County and Pittsburgh schools.

U.S. Steel plans to lease the building for 800 workers for at least 18 years from a partnership that includes the Penguins and Clayco. Officials did not disclose the anticipated development costs or terms of the lease, but said construction would begin next summer. PNC’s former CEO, Jim Rohr, helped broker the deal between the Penguins and U.S. Steel.

The existing U.S. Steel Tower in downtown Pittsburgh will remain and part of it will become a U.S. Steel museum.

The cash price of steel billet rose 7.5% on Monday, November 24, making it the day’s biggest mover. After 3 days of flat prices on the LME, it closed at $500.00 per metric ton. After a few days of little change, the 3-month price of steel billet jumped 5.5% on the LME, landing at $480.00 per metric ton.

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Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.16) and a low price of CNY 830.00 ($135.52) per dry metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining around CNY 2,970 ($484.95) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,390 ($226.96) per metric ton.

The 3-month price of the US HRC futures contract showed little movement yesterday at $629.00 per short ton. The spot price of the US HRC futures contract held steady on Monday, remaining around $634.00 per short ton.

Chinese steel and iron ore futures advanced on Monday after China cut interest rates for the first time in more than 2 years in a bid to shore up activity in the world’s No. 2 economy.

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China’s rate cut reflects a change of course by Beijing and the central bank, opting for more drastic action to stabilize an economy that continued to show signs of a slowdown following modest measures. Iron ore for May delivery on the Dalian Commodity Exchange rose 1.1% to 476 CNY ($78) a ton, off a session high of 482 CNY. Spot iron ore is at a more than 5-year low.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.21) and a low price of CNY 830.00 ($135.57) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 2,970 ($485.12) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,390 ($227.04) per metric ton.

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The steel billet cash price saw essentially no change on the LME for the fifth day in a row, remaining around $465.00 per metric ton. The 3-month price of steel billet continues hovering around $455.00 per metric ton on the LME for the fifth day in a row.

After dropping for two days, the 3-month price of the US HRC futures contract flattened at $629.00. The spot price of the US HRC futures contract saw little movement last Friday at $634.00 per short ton.

More litigation has come to a close regarding an alleged price-fixing lawsuit involving major players in the steel industry.

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In 2008, Pennsylvania-based Standard Iron Works and 4 other companies filed a lawsuit alleging U.S. Steel and ArcelorMittal conspired with 6 other domestic steel manufacturers “to manipulate the supply and price of steel products sold in the United States,” according to court documents. The plaintiffs alleged that, from April 1, 2005 to December 31, 2007, the 8 steelmakers “conspired to restrict their output, thereby increasing the prices they were able to charge for steel products.”

Litigation has been ongoing since, though 5 of the companies listed as defendants— Commercial Metals Company, AK Steel Holding Corporation, Gerdau Ameristeel Corporation, ArcelorMittal and U.S. Steel—settled earlier this year.

Their settlements, according to court documents, were recently approved in the United States District Court for the Northern District of Illinois Eastern Division. Judge James B. Zagel issued final approval for ArcelorMittal and U.S. Steel on October 21 and AK Steel, Commercial Metals and Gerdau on October 23.

The class council’s motion for attorney fees and reimbursement of litigation expenses was also granted.

Throughout litigation, all of the settling defendants denied any wrongdoing as well as the allegations against them, though they claimed to have settled in order to avoid the cost of further litigation and trial.

The settlement amounts, which totaled $163.9 million, were made in accordance with the size of the companies and their output during the span of the alleged price-fixing.

On Thursday, November 20, the day’s biggest mover was the 3-month price of the US HRC futures contract, which saw a 0.3% decline to $629.00 per short ton. The US HRC futures contract spot price remained essentially flat at $634.00 per short ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.27) and a low price of CNY 830.00 ($135.64) per dry metric ton. The price of Chinese HRC continues hovering around CNY 2,970 ($485.35) per metric ton for the fifth day in a row. The price of Chinese coking coal held steady at CNY 1,390 ($227.15) per metric ton.

For the fifth day in a row, the cash price of steel billet remained essentially flat on the LME at $465.00 per metric ton. The steel billet 3-month price saw little movement on the LME at $455.00 per metric ton.

Mining giants have wagered $120 billion on belief that steel production in China won’t peak until as late as 2030. As the price of the key steelmaking raw material continued its descent to a 5-year low today, it increasingly looks like they got it wrong. It’s a miscalculation that could have huge consequences for companies led by BHP Billiton Ltd. and Rio Tinto Group.

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“I’ve always taken the view that the miners had the best intelligence on this as large investment decisions are based on it,” Richard Knights, a mining analyst at Liberum Capital Ltd. told Bloomberg News. “But if they get it wrong by a just a small margin, that has major implications for profitability and the share price for years to come.”

Iron ore is the worst-performing commodity this year and the slowing economy has persuaded some analysts and steelmakers that peak steel is nearing in China, the world’s largest producer.

On Wednesday, November 19, the US HRC futures contract 3-month price fell by 0.2%, landing at $631.00 per short ton and making it the day’s biggest mover. The spot price of the US HRC futures contract held steady around $634.00 per short ton.

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Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.21) and a low price of CNY 830.00 ($135.57) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 2,970 ($485.13) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,390 ($227.05) per metric ton.

For the fifth consecutive day, the steel billet cash price held flat on the LME at $465.00 per metric ton. The 3-month price of steel billet continues hovering around $455.00 per metric ton on the LME for the fifth day in a row.

Iron ore hit a 5-year low last week and the raw material has only maintained position since. China’s push for clear skies is curtailing demand there and only the specter of mine closures there is keeping prices in line.

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China is also the big story in steel prices, as anti-dumping actions by several nations against the top producer has helped US prices keep their gains and flattened Chinese prices.

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Chinese steel prices were flat for the week. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.21) and a low price of CNY 830.00 ($135.57) per dry metric ton. Following a steady week, prices for Chinese HRC closed flat at CNY 2,970 ($485.13) per metric ton. At CNY 1,390 ($227.05) per metric ton, the week finished with no movement for Chinese coking coal. Prices for Chinese slab remained constant, closing the week at CNY 3,480 ($568.43) per metric ton.

This past week, the 3-month price of steel billet kept quiet, holding at on the LME at $455.00 per metric ton. Closing at $465.00 per metric ton, the cash price of steel billet remained unchanged on the LME for the week.

Korean steel prices were flat for the week. Korean steel scrap remained essentially flat from the previous week at KRW 214,000 ($200.21) per metric ton. At KRW 635,000 ($619.69) per metric ton, the price of Korean pig iron did not change since the previous week.

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Chinese iron ore and steel futures tumbled to record lows on Tuesday after data showed a deepening decline in China’s home prices, the latest evidence of economic weakness in the top consumer of both commodities.

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China’s home prices fell an annual 2.6% in October despite a range of government support measures, Reuters reported. It was the steepest year-on-year fall since Reuters started calculating nationwide prices in 2011.

The losses in futures could stretch iron ore’s rout. The steelmaking ingredient is at its weakest since 2009 and has fallen 44%  this year as big, low-cost miners such as Rio Tinto, BHP Billiton and Vale boosted output amid slowing demand growth in top importer China.

On Tuesday, November 18, the day’s biggest mover was the US HRC futures contract spot price, which saw a 0.3% increase to $634.00 per short ton. This increase comes after three straight days of stagnant prices. The US HRC futures contract 3-month price fell 0.3% to $632.00 per short ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.17) and a low price of CNY 830.00 ($135.54) per dry metric ton. The price of Chinese HRC held steady at CNY 2,970 ($485.00) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,390 ($226.99) per metric ton.

The cash price of steel billet was unchanged on the LME at $465.00 per metric ton. For the fifth consecutive day, the 3-month price of steel billet held flat on the LME at $455.00 per metric ton.

China’s Hebei Iron and Steel Group has signed an agreement to take a 51% stake in Switzerland-based Duferco International Trading Holding, in a move aimed at boosting the state-owned conglomerate’s ability to sell steel overseas.

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The deal was signed in Beijing on Tuesday, according to a report by state-controlled China News Service. It puts China’s largest steel-making group in control of a European trading firm – the world’s largest in steel – underlining the dominance of China in the steel market, according to a Reuters analysis.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.77) and a low price of CNY 830.00 ($135.14) per dry metric ton. The price of Chinese HRC held steady at CNY 2,970 ($483.57) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,390 ($226.32) per metric ton for the fifth day in a row.

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The cash price of steel billet was unchanged on the LME at $465.00 per metric ton. The 3-month price of steel billet remained essentially flat at $455.00 per metric ton on the LME.

The US HRC futures contract 3-month price increased 0.6% to $634.00 per short ton. For the fifth day in a row, the US HRC futures contract spot price remained essentially flat at $632.00 per short ton.

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