Kumba Iron Ore Reports 8% Drop in Q2 Saldanha Bay Port Sales

In June, production of medium-thickness plate rolling mills and cold tandem rolling mills of key statistical enterprises rose YoY, while production of hot tandem rolling mills fell YoY. Production of main varieties of plates rose or fell YoY. Among them, output of shipbuilding plates and steel plates for construction machinery increased significantly, while output of pipeline plates and wind power steel plates decreased significantly. Except for cold-rolled thin sheet and strip, whose price fell MoM, prices of other products all rose.

German steelmaker Thyssenkrupp has officially reduced its hot metal production at the Duisburg plant after persistently low water levels on the River Rhine severely disrupted raw material supply chains. The logistical constraints forced the company to pull its push-barge fleet out of service and rely on externally chartered vessels with lower drafts, severely limiting the volume of incoming bulk materials. Although specific tonnage curtailments were not disclosed, market sources indicate the raw material shortage has fueled bullish sentiment, pushing domestic hot-rolled coil (HRC) prices in Northwest Europe up by approximately EUR20 per tonne to EUR710 per tonne ex-works.

The US International Trade Commission has opened the probes following petitions from US manufacturers alleging the goods are being sold below fair value and are subsidized, causing material injury to the domestic industry; the investigation covers HS codes 7305.31.60, 7306.11.00, 7306.40.50 (and possibly 7306.40.10), with a preliminary ruling expected by end of August and findings due to the Commerce Department by early September, part of a broader wave of trade defense measures across the US, EU, UK, India, and the EAEU as governments move to shield domestic steel industries from oversupply.