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Japan’s iron and steel conglomerate plans to hold ship plate price negotiations in the second quarter with Chinese shipbuilding companies at the end of February. This time the Japanese steel mills will replace the usual semi-annual contracts, but will negotiate on a quarterly contract. It is said that the quotation may be up to 1,000 US dollars per ton (FOB), becoming the first time in the history of Japanese shipboard exports.
Australian mining giant Rio Tinto Ltd. (RioTintoLtd.) said BHP Billiton (BHP Billiton Ltd.) US$147.4 billion acquisition offer underestimates Rio Tinto and its production growth will exceed BHP Billiton. Rio Tinto’s chief executive, Tom Albanese, stated that his company’s production is expected to increase by 8% a year between 08 and 2015, which is two times the expected growth of BHP Billiton over the same period.
UAE Economic Planning Minister Sheikh Lubuna Bint Khaled Kasimi recently pointed out at the Arab Middle East Economic Digest Architecture Summit that due to the rapid development of the construction industry, UAE's steel demand will increase in 2010. Doubled for the current, reaching 10 million tons.
Canada made a final ruling on my anti-dumping anti-dumping countervailing duties on seamless oil well pipes: On February 8, 2008, the Canadian Border Services Agency (CBSA) anti-dumping anti-dumping countervailing duties for certain oil well pipes originating in or exported from China (taintseamlesscarbonoralloysteeloilandgaswellcasing). The final ruling was made and the product was found to be subject to dumping and subsidies. The dumping margin of responding companies ranged from 37% to 61%, and the subsidy ranged from 2% to 7%. The punitive dumping margin of unreported companies was 91%. The rate is 38%. The CBSA will announce a detailed final ruling just after 15 days.
All major steel manufacturers in the world have already raised steel prices and formed a general rise in global steel prices.
Rio Tinto: BHP Billiton needs to raise its offer significantly before it can negotiate: Just after international mining giant Rio Tinto rejected BHP Billiton’s offer offer, Sam Walsh, head of Rio Tinto's iron ore business, said on the 13th that BHP Billiton needed to significantly increase its offer price. Negotiate on this. The China Aluminum Corporation, which has just joined Rio Tinto, is still in the spotlight. There is an endless stream of news that Chinalco’s holding of Rio Tinto shares and BHP will expand its negotiations. Nearly US$100 billion in Brazil’s Vale’s purchase of Swiss mining companies was rejected: BHP Billiton’s acquisition of Rio Tinto’s case was in full swing, and mining mergers on the other side of the globe were also stuck. The nearly 100 billion U.S. dollars raised by Brazil’s Vale, the world’s largest iron ore producer, was rejected by the latter’s bid for Xstrata, the mining giant headquartered in Zug, Switzerland. The "threat" of China's steel exports "significantly weakened": ArcelorMittal's chief executive and majority shareholder Lakshmi. Mittal said yesterday that the threat of Chinese steel exports to the healthy development of the global steel industry has "significantly weakened." Earlier, he announced that Arcelor Mittal’s net income increased by 30% last year. Mittal said that although the global economy is overshadowing a cloud, the number of Chinese steelmakers entering the international market has decreased, which will benefit steel. The industry achieved relatively strong performance in 2008.
Pump Valve Raw Materials 08 Steel Industry Information
International focus: The European Commission has issued a note before placing a case on the day. It will initiate anti-dumping investigations on prestressed steel strands originating in China. According to the EU's anti-dumping practice, the European Commission will formally file the case 7-10 days after the date of the meeting, asking the relevant companies to make preparations.