Hyundai Steel plans to lift the export prices of debar and H-shaped steel. The export price of H-shaped steel for a delivery in Feb.-Mar. is set to boost to U.S.$700 per ton (FOB) and debar price is adjusted to U.S.$600 per ton (FOB).

As the scrap steel price increased and demand improved, Hyundai Steel
intends to advance price. If scrap steel price continued to rise, the
export price of Hyundai Steel may surge further.

Source: MetalBiz

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• EU steel scrap export price at first inclined since early September

    As Turkey steel mills return back market to purchase, EU scrap steel export price firstly increased since early September. The export price of EU No.1 and No.2 mixed heavy scrap (80:20) boosted from U.S.$224-230 per ton to U.S.$235-240 per ton.

• Hyundai Steel to obtain current state of production

    Hyundai Steel produced around 25,000 tonnes of shipbuilding angle steel per month, on average, during the months of July and August 2009. It is expected to maintain the current level of production during the remainder of this year. Demand for shipbuilding angle steel has improved from the third quarter. The company

• Turkish scrap import to the top

    Learned from market players that Turkey scrap import price continued rising, since last week, only two batches of scrap was booked. One batch of HMS 1&2 80:20 and P&S in Europe sold to a certain steel mill with U.S.$347 per ton (CFR), another batch of HMS 1&2 70:30 was bought

• Hyundai Steel in steel prices next month

    Hyundai Steel Co. South Korea’s second-biggest steelmaker, said Monday that it plans to raise steel prices by up to 5.4 per cent starting on Feb. 1 to reflect increased raw material prices.

• S. Korean steelmakers Begin to Raise Steel Prices

    Amid the recent rise in raw material prices, South Korea’s price of steel products including an iron bar is to increase. According to industry insiders on Monday, Hyundai Steel has decided to raise its steel prices centering on long products and apply price increases from on February 2. Consequently, other

• Scrap price index debut

    China will launch its first scrap price index on the Nanning (China-ASEAN) Commodity Exchange in March this year, which steel insiders claim would help both China, the world’s largest scrap consumer, gaining dominance in the price-setting for scrap worldwide and domestic steelmakers fixing their costs and reducing business risks through

• Hyundai Heavy adopted as the preferred bidder for trading companies

    Hyundai Heavy Industries Co., the world’s biggest shipbuilder, has been chosen as the preferred bidder for Hyundai Corp., the South Korean trading company’s main creditor said Tuesday. In May this year, Hyundai Heavy submitted its bid to acquire Hyundai Corp., but the deal failed due to differences over price. Korea Exchange

• Hyundai Heavy signs far too preliminary to buy Hyundai Corp.

    Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Wednesday that it has signed a preliminary agreement to buy a local trading company. Late last month, Hyundai Heavy was picked as the preferred bidder for Hyundai Corp. which has been up for sale since last year. In May this year,

• East Asian steel scrap and pig iron imports continue to rise offer

    The tight supply and increasing spot ore price propelled the import offer of East Asia scrap steel and pig iron to climb continuously. Presently the price of No.1 and No.2 heavy scrap stands at U.S.$360-365 per ton (CFR) and the offer of pig iron increases to U.S.$380-390 per ton (CFR).

• Southeast Asia scrap import grow U.S. $ 25-40

    In the past two weeks, with the rising of iron ore price, the import price of southeast Asia scrap steel recovered after festival, up U.S.$25-40 per ton (CFR). News from Vietnam, Malaysia and Singapore noted that the import and settled prices of No.1 and No.2 mixed heavy scrap from Europe

• Steel scrap imports zoom in Zhangjiagang port

    Metal Biz quoted according to the statistics of Zhangjiagang Inspection and Quarantine Bureau, the imported scrap steel amounted to 3.35 million tonnes in January to November at Zhangjiagang port valued USD1.1 billion up by 598%YoY and 267%YoY respectively. As per report, the explosive growth of imported scrap at Zhangjiagang attributed

• China consumes 80 million tonnes of scrap in 2009

    According to Mr Yan Qiping the general secretary of the China Association of Metalscrap Utilization, China approximately consumes 80 million tonnes of steel scrap in 2009. In 2009, China scrap consumption totaled to about 80 million tonnes with the total transaction volume to CNY 200 billion calculated by unit price

• China is 10 million tonnes of steel scrap shortage, association –

    China has a steel scrap shortage of about 10 million tonnes, according to an analysis by the Chinese Steel Scrap Association. In the first half of the year China produced 267 million tons of crude steel, and for the whole year is estimated to see an overall crude steel output

• HYUNDAI HEAVY INKS PURCHASE OF SISTER Trading Firm

    Hyundai Heavy Industries Co. (KSE:009540), the world’s leading shipbuilder, said Thursday it has signed a deal to buy its former sister firm, Hyundai Corp. Hyundai Heavy purchased 50 per cent plus one share of the trading firm from its creditors for 235 billion won (US$202 million)

• Japanese scrap export 10 months ago by 76pct YoY

    According to statistics released by Japan’s Ministry of Finance, Japan’s scrap export during January to October 2009 period was 8.3 million tonnes, up by 76% YoY. The scrap export during 2009 is estimated to reach 9.97 million tonnes