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METALS & MINING ALERT：DAILY PRICES AND NEWS：US MILLS SEEK DUTIES ON STEEL WIRE ROD IMPORTS-2017Guangzhou int’l non-ferrous metals exhibition
4/5/2017 -non-ferrous metals expo |
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US mills file trade petition against imports of steel wire rod from ten
countries,seeking anti-dumping duties of 22-305%. Also, countervailable
penaltiessought against Italian and Turkish wire rods. Between 2014-16, subject
countryimports rose 56% to 0.7m st and account for ~45% of total. The US ITC
willmake a preliminary injury ruling within 45 days and the DOC to issue
prelim.duties in 2H17, with final rulings expected in Spring-2018. Within DB
coverage,Nucor is a key producer of wire rods. （PR Newswire, DB）
China
revises capacity elimination targets for 2017, which include cutting 50mtof
steel capacity, wiping out induction furnaces producing low-qualityconstruction
steel and preventing large price fluctuations in steel market.Consolidation of
steel industry expected to increase demand for higher gradesof iron ore, per Rio
Tinto CEO. Company expects China to rationalizesteelmaking capacity as a top
priority, but is cautious with aluminum capacityrestructuring as government
could face issues with displaced workers. （SBB）
Decline in China cold-rolled
coil （CRC） export prices accelerates as overseasbuyers adopt a “wait-and-watch”
stance. CRC prices have fallen ~11% inMarch to $530/t. Current offer prices for
export are much higher than domesticprices, which have been on a downward trend
amid high inventories and risingoutput. Steelmakers choosing to export less and
sell domestically is furtheraggravating the oversupply situation.
（SBB）
Chinese exports of seamless pipe in January decrease 9% YoY as
demandfrom energy industry shrinks and trade cases against China-origin
seamlesspipes rise. Total seamless export volume was 4.3mt （-5% YoY）。 Overall
exportsituation expected to remain weak on lackluster global energy demand
andsharp rise in Chinese domestic prices which could deter overseas buyers.
（SBB）
Constellium expands recycling capabilities with installation of new
recyclingfurnace at Muscle Shoals facility, Ala. Fully operational furnace
expected toincrease total recycling output by 170m lb （~5.2bn Used Beverage
Cans/pa）。Facility will now recycle ~20bn UBC/pa. （Company）
Acacia Mining
（Barrick stake: 64%） denies violating Tanzania concentrateexport ban. Tanzania
aims to construct gold smelters and is keen to add valueto its exports instead
of sending raw material abroad. Company’s Bulyanhuluand Buzawagi mines continued
to operate post the ban, with concentratebeing stored at the mine sites.
有色金属展-铜材展-铝材展-钛材展-2017年广州国际有色金属工业展览会-效果最好的有色金属展会-2017Guangzhou int’l non-ferrous metals exhibition
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