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Major Events In April 2005 Over Ferrous Raw Materials (3)
Apr. 19:

<Canada's iron ore exports in 2004 drop to 22.45 Mt>
Exports of iron ore by Canada in the full 2004 year were 22.45 million tons (Mt), down by 5.36 Mt (19.3%) from 27.81 Mt in 2003. The export was apparently disrupted by the strikes that took place in July to October.

<Market price of Chinese hot-rolled steel plates plummets>
Chinese hot-rolled steel plate price on the market fell by $10 to $20 per ton in terms of US$. Companies concerned are collecting information to analyze whether the drop has been motivated as a result of a temporary self-adjustment or of a turning point effect. Peaking at $550 - $570 per ton in mid March, the price plunged to $550 - $560 per ton levels.

Apr. 20:

<Japan's crude steel production in 2004 hits 4th highest at 112.90 Mt>
According to The Japan Iron and Steel Federation (JISF) production in Japan of crude steel and hot-rolled steel products hit fourth and second highest in its history, respectively, with pig iron totaling 82.894 Mt (up 0.2% over 2003), and crude steel 112.895 Mt (up 1.7%). Crude steel production in excess of 100 Mt has been achieved for five consecutive years. In addition, specialty steel production marked a record high 23.853 Mt, and hot-rolled steel output second highest at 103.399 Mt.

<US Nucor to acquire Marion Steel in Ohio>
World largest electric steelmaker, Nucor Corp announced it intends to acquire steel bar manufacturer Marion Steel Co. for $113 million, with acquisition to be completed by mid June. Having a headquartered plant at Marion, Ohio, the target company is capable of producing 400,000 tons of crude steel a year. Apart from this, Nucor has purchased Worthington Industries' Decatur plant in Alabama for $82 million in August 2004.

Apr. 21:

<JISF chairmanship to follow a Rotation System>
It has been decided that JISF chairman is to be elected from either one of Nippon Steel Corp (NSC) and JFE Steel Corp (JFE) by way of a rotation system. JISF Chairmen have been appointed by a "mutual election" at its board of directors' meetings. The new electoral system has been added as a complementary new internal rule that a candidate is to be provided by either NSC or JFE by turns. In May falling the next reelection time, Akio Mimura, president of NSC and current JISF chairman, is supposed to be reelected chairman of the Federation in accordance with the preliminary unofficial decision already made.

<Nippo-Chinese public & private sector level steel talks to take place June 13 in Tokyo>
Dialogs addressing steel industry between Nippo-Chinese public and private sectors are scheduled to take place on June 13 in Tokyo. Taking into account softening steel prices going on in the European market, comprehensive topics will be dealt with including steel prices in the world markets. Inter alia, steel exports from China that were 7.6 Mt in 2003 expanded 2.5 fold to 19.2 Mt in 2004.

<Tokyo Steel's results of fiscal year ended in March/05 mark historical record>
Tokyo Steel Manufacturing Co., Ltd. released the results of fiscal year ended in March 2005, according to which the Company marked record highs as: sales 232.15 billion yen (up 52.6% from the prior year), operating profit 72.96 billion yen (up 492.1%), ordinary profit 74.03 billion yen (up 459.2%), net income 50.628 billion yen (up 303.9%). ROS in turn, which jumped to 31.9% from 8.7% in the prior year, demonstrated a significant improvement to its earning power.

Apr. 22:

<Japanese steel mills reach agreement with BHPB, leaving Yandi ore price pending>
Five Japanese blast furnace mills reached an agreement with BHP Billiton on 2005 iron ore prices with 71.50% price increment. However, price for Yandi iron ore (annual supply 15 Mt) failed in settlement, being left to be discussed further. As a result, this brand ore was excluded from the long-term contracts.

Apr. 26:

<JFE Steel to reline its Fukuyama No. 4 blast furnace>
JFE Steel announced it will effect a fourth relining of its No. 4 blast furnace in West Japan Works in Fukuyama in the first quarter of 2006. Spending 2.5 billion yen for the work, the Company aims to expand inner volume of the furnace from 4,288 m3 to 5,000 m3.

Apr. 27:

<Italy's iron ore imports in 2004 increase to 16.72 Mt>
According to the data from Eurostat, imports of iron ore into Italy in 2004 totaled 16.715 Mt which were up 1.426 Mt (9.3%) from 15.289 Mt in the previous year. During the same period the country produced 10.599 Mt of pig iron (up 4.4%) and 28.334 Mt of crude steel (up 5.6%).

Apr. 28:

<Nippon Steel to introduce new CGL line at its Hirohata Steelworks>
Nippon Steel Corp decided to effect a new facility investment for introducing a CGL (Continuous hot-dip Galvanizing Line) at its Hirohata Steelworks with a view to enhancing technical capability to meet customer requirement in the field of steel plate surface treatment for automobile, electrical equipment and building materials. Annual production capacity is designed at 30,000 tons; total investment 12 billion yen; scheduled start-up in the second half of 2006; products lineup will be 0.4 - 3.2 mm thick and 700 - 1,700 mm wide.
last modified : Thu 09 Jun, 2005 [10:35]
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