Monthly Archive December, 2008 News Back December, 2008 News Title Publish Date Chinese steelmakers post CNY 12.8 billion loss in November Dec 31, 2008 Chinese welded steel pipe prices hold up Dec 30, 2008 Indian coal prices to keep stable Dec 30, 2008 Billet price up in Turkey, Ukraine, Russia Dec 30, 2008 Iron ore price rebound maybe short lived – Analysts Dec 29, 2008 Al Tawariqi Steel Mills to start production in Pakistan in 2009 Dec 29, 2008 China steel firm set to raise prices Dec 29, 2008 More US companies expect higher prices - The Steel Index Dec 29, 2008 Chinese CR export market remains dull amid Ukrainian imports Dec 29, 2008 Korean November scrap imports down by 41% YoY Dec 29, 2008 US calls for using US made steel for infrastructure investments Dec 28, 2008 Production pruning - Brazilian November crude steel down by 20% MoM Dec 28, 2008 JFE cutting 26% off production in H2 Dec 28, 2008 Posco eyes steel project in Indonesia Dec 28, 2008 China settles ship plate prices with Korea Dec 28, 2008 India"s iron ore shipments to China up in November Dec 28, 2008 50pc of Property Developers Put Plans on Hold Dec 27, 2008 Caspian Stal to build new mill in Aktau Dec 27, 2008 China may scrap steel export licensing regime – Reports Dec 27, 2008 Iron ore stocks drop at China"s main ports Dec 27, 2008 Low shipping cost makes China"s steel flat competitive in Germany Dec 27, 2008 PSM does not plan to cut prices further – Report Dec 27, 2008 Chinese steel mills raise HRC prices for January delivery Dec 25, 2008 Syrian HRC stocks at high level Dec 25, 2008 Deutsche Bank sees US HRC prices to drop further in 2009 Dec 25, 2008 Recession reports - 2009 will be a really bad year – IMF Dec 25, 2008 French crude steel production drops in November Dec 25, 2008 Russia cancels tariff on steel for auto industry Dec 25, 2008 Chinese steel export estimated to be 62 million tonnes in 2009 Dec 24, 2008 European and Middle East flat markets remain weak Dec 24, 2008 Turkey’s flat demand declines Dec 24, 2008 Taiwan’s billet prices rebound Dec 24, 2008 Why should govt fear steel imports? Dec 23, 2008 Tokyo Steel cuts scrap purchase prices by JPY 500 at 4 works Dec 23, 2008 Al-Ghurair Iron & Steel seeking protection from government Dec 23, 2008 American medium plate market weakens Dec 23, 2008 China may have its way in fixing ore prices –Analyst Dec 23, 2008 Scrap exported from US to China increases by 20 % Dec 23, 2008 Dull Steel demand to stay in 2009 – Experts Dec 22, 2008 China to inject CNY 30 billion into major economic development district Dec 22, 2008 British Rio Tinto abandoned US$10 billion Saudi joint venture Dec 22, 2008 Japanese ferrous scrap drops around Tokyo and Osaka Dec 22, 2008 China to import 424 million tonnes of iron ore in 2009 – Macquarie Dec 21, 2008 Demand of rebar expected to decline by 30 percent Dec 21, 2008 Toyota looks for a reduction in the steel prices by 30% Dec 21, 2008 Turkey to become net export country of flat product in the next five years Dec 21, 2008 November world crude steel output dips by 19% YoY Dec 20, 2008 Iron ore price negotiations - May fall by 25% to 40% Dec 16, 2008 China home appliance production slows Dec 16, 2008 20,000 Turkish workers in Russia lose jobs Dec 16, 2008 Production pruning - Tokyo Steel eyes 50% production cut Dec 16, 2008 Japanese general steel orders dropped sharply Dec 16, 2008 Exports of scrap metal by Philippine dropped Dec 15, 2008 Macroeconomic indicators - Falling industrial production is serious concern Dec 15, 2008 Recession reports - Mr Krugman sees it beyond 2011 Dec 15, 2008 Slowdown signs - Dutch construction to shrink in next 3 years Dec 15, 2008 Indian Railways may reduce freight charges for iron ore export Dec 15, 2008 Iran to order 3 new supertankers to boost fleet Dec 15, 2008 China may buy steel for reserves, aid exports Dec 14, 2008 Vietnam steel consumption may fall by 14% in 2008 Dec 14, 2008 Rio Tinto to delay $6 billion iron ore project Dec 14, 2008 Rio Tinto to cut 14,000 jobs Dec 14, 2008 Taiwanese rebar prices fall further Dec 14, 2008 Turkish mills urged to deepen production cuts Dec 14, 2008 Ukrainian steel makers stop imports of coke Dec 13, 2008 Turkish steel exports facing difficulties Dec 13, 2008 No buyer for slabs even at USD 350 a tonne FOB level Dec 13, 2008 Indian domestic steel prices continue to decline Dec 13, 2008 GCC steel demand increased to 20 million tonnes last year Dec 13, 2008 Chinese steel prices ascend Dec 13, 2008 Recession reports - US weekly raw steel production dips by 44% YoY Dec 11, 2008 Corus stops buying steel scrap due to low orders Dec 11, 2008 China may ask iron ore price cut by 82% Dec 11, 2008 Chinese steel prices to recover in 2009 – Analyst Dec 11, 2008 Recession reports - Collapse of US auto industry may cost major job loses Dec 11, 2008 Japanese steelmakers deepen production cut Dec 11, 2008 UAE Steel trade losses hit AED3 billion – Report Dec 10, 2008 Building materials get cheaper Dec 10, 2008 Indian domestic steel prices to come down by up to INR 1,000 Dec 10, 2008 World economy shifted from West to East Dec 10, 2008 More steel traders in Korea collapse Dec 8, 2008 Merrill Lynch sees BHPB cut ore output by 25% in 2009 Dec 8, 2008 Saint Petersburg plans to halt scrap exports Dec 8, 2008 Turkish steel exporters optimistic about GCC market Dec 8, 2008 China to hold the annual coal conference this month Dec 7, 2008 Makkah Istanbul railway to boost Saudi-Turkish ties Dec 7, 2008 Recession reports - Indian exports fall as demand dampens Dec 7, 2008 Poland flat-rolled steel market weakens Dec 7, 2008 Spot iron prices rose in China Dec 7, 2008 Scrap prices likely on upward trend in 2009: Ameristeel exec Dec 7, 2008 Recession reports - Global metal demand to drop Dec 6, 2008 Coal price may remain weak for a long time Dec 6, 2008 Steel companies likely to cut prices Dec 6, 2008 China"s real estate market declining Dec 6, 2008 Russian steel demand to fall in H1 of 2009 - Severstal Dec 4, 2008 Recession reports - Nippon Steel to cancel iron ore and coking coal shipments Dec 4, 2008 ArcelorMittal VP sees good times coming back Dec 4, 2008 Chinese domestic steel prices turning to stability Dec 4, 2008 Flat-rolled steel prices remain stable in South Europe, Middle East Dec 4, 2008 Chinese HRC prices rebound Dec 4, 2008 Analysis of iron ore concentrate market of Tangshan Dec 3, 2008 Flat product index in Middle East crash by 200 points over the weekend Dec 3, 2008 Recession reports - 20% of world capsizes fleet idle Dec 3, 2008 Recession reports - Shipping sector doom music for Alang breakers Dec 3, 2008 China’s huge investment to spur steel demand for 10 million tons Dec 3, 2008 LME base metal price slide on last Friday Dec 3, 2008 Chinese HRC export price further rebound Dec 2, 2008 Recession reports - ITA warns of global economic crisis on Gulf Dec 2, 2008 Indian steel ministry to push for higher import duty Dec 2, 2008 EU raises rebar export price Dec 2, 2008 Coal prices to slump in 2009 Dec 1, 2008 Turkish scrap buyers wait for lower prices Dec 1, 2008 Indian iron ore exporters in trouble as Chinese LCs bounce Dec 1, 2008 Russian scrap exports decline during first 9th months Dec 1, 2008 Hyundai makes second steel price cut in 1 month Dec 1, 2008 World iron ore price drop looms despite output cuts Dec 1, 2008