SHANGHAI, Jul. 22 (SMM) –
Baosteel has restructured Guangdong Shaoguan Iron & Steel. Guangzhou Iron & Steel Enterprises Group is cooperating with JFE on to build a 1.8 million mt/yr cold-rolled project.
Manganese Ore Market:
Trading at ports remained depressed and prices extended declines. Current manganese ore prices are nearing traders’ bottom line. Most are holding to the sidelines against falling prices. Despite firm CIF prices, manganese ore prices at ports will not stop falling until downstream demand picks up.
In southern ports, sales volumes of South African mixed carbonate manganese ore increased and supply tightened. In northern ports, manganese ore from Mexico and Morocco gained favor.
Manganese Alloy Market:
Some steel producers will begin bid invitation for silicomanganese alloy this week. Most anticipate a drop in bid prices for August.
Prices of billet, iron ore and steel products have been rising recently, despite high temperatures and weak demand in July. Many steel producers managed to make a profit in Q1, 2013. Steel demand in expected to improve in 2013 compared with 2012. However, 2013 will remain a tough year for steel producers.