SBB STEEL MARKETS DAILY - Shardoo · 7/6/2016 · SBB STEEL MARKETS DAILY Volume 10 / Issue 131 / July 6, 2016 Chief Content Officer Martin Fraenkel Platts President Imogen Joss

Volume 10 / Issue 131 / July 6, 2016

SBB STEEL MARKETS DAILY

www.platts.com www.twitter.com/PlattsSteel METALS

Today in raw maTerials

asiaCoal transport restored to China's Magang after flooding 3

scrap marketTurkish scrap deals flow despite Eid celebration, prices fall 4

other newsCoal exports from Dalrymple Bay hit one-year high in June 5

Iranian iron ore miner ramping up, moving into steel 6

marketplace

Ferroalloys marketMoly oxide in narrow range, trade slow as buyers cautious 7

americasJune Brazilian pig iron exports fall 46% year on year 8

Brazil’s June coke imports slump 83.8% on year: ministry 8

PlaTTs raw maTerial assessmenTs, July 6 Close/midpoint Change % Chg

iodeX iron ore fines 62% Fe ($/dmt)

CFR North China NA NA NA NAPlease see Platts complete iron price/netbacks table, p.3

Coking coal, premium low vol ($/mt)

FOB Australia NA NA NA NACFR China NA NA NA NAPlease see full metallurgical coal price/freight table, p.4

Ferrous scrap

HMS CFR Turkey, $/mt 210.00-212.00 211.00 -2.00 -0.94HMS FOB Rotterdam, $/mt 192.00-202.00 197.00 -2.00 -1.01A3, FOB Black Sea, $/mt 183.00-189.00 186.00 -2.00 -1.06Shredded del Midwest US, $/lt 240.00-245.00 242.50 -2.50 -1.02Shredded FOB East Coast, $/mt 200.00-205.00 202.50 -5.00 -2.41HMS del dock East Coast, $/lt 140.00-160.00 150.00 0.00 0.00HMS FAS US West Coast, $/mt 185.00-188.00 186.50 -11.00 -5.57

Pittsburgh—US steel mills entered the July scrap market Wednesday afternoon buying obsolete grades $10/lt below June price levels, while prime grades remained unchanged.

Shortly after 1 pm US Eastern, a Detroit-area mill gave firm offers to scrap suppliers of down $10 for shredded and plate & structural material and sideways for prime. The move, which was in line with early July market sentiment, set the tone for other deals that followed throughout the afternoon.

Platts assessed US shredded scrap Wednesday at $240-$245/lt delivered Midwest mill. The midpoint was down $2.50 on day and down $10/lt from June.

Some scrap suppliers were able to package prime grades with shredded and receive $245/lt for their shredded tonnage. No 1 busheling prices were trending around

us obsolete scrap down $10/lt in early July trading$290-$300/lt delivered mill, as the premium to shredded scrap continued to grow.

Other Midwest mills were holding out for larger discounts on obsolete grades and had not finalized pricing as of late Wednesday.

"There are people who think shred is down $15-$20," one source said. "I am not a believer in that - dealers are not going to sell enough scrap at down $15-$20. A few mills had tried down $15-$20 on Friday and Tuesday, and now they are at down $10."

The Chicago market was expected to be a weak one, but significant trading had yet to begin by Wednesday afternoon. Mills in the Ohio Valley were purchasing scrap on a pricing to be determined basis.

Trading was slower to develop in other regions, especially in the Southeast, where market sources reported activity as extremely

asia

China's wisco readies no 4 meltshop as rains easeSingapore—Wuhan Iron & Steel Co, the Shanghai-listed unit of China’s sixth-biggest steelmaking group by output, was preparing to resume production at its No 4 melting shop after it was shut earlier Wednesday by flooding, a company source told S&P Global Platts.

"The shift from 3-9 pm [0700-1300 GMT] has taken over and is in the midst of removing water from the meltshop," he said. "We should be resuming production soon, and there's been no damage to the equipment."

The source said steel output this month would likely not be affected by the stoppage, as it can be made up through overtime. "The other units should also be in the process of resuming production," he said.

(continued on page 2) (continued on page 2)

7

TSI raw maTerIal IndIceS, July 6, 2016 Frequency Change % Chgiron ore fines 62% Fe

Chinese imports (CFR North China port), $/dmt NA Daily NA NAPlease see TSI’s complete iron ore price table, p.2

Coking coal

Premium hard, Australian exports (FOB port), $/mt NA Daily NA NAPremium JM25, Chinese imports (CFR port), $/mt NA Daily NA NA

Ferrous scrap

HMS 1&2 80:20, Turkish imports (CFR port), $/mt 213.00 Daily -2.00 -0.93Shredded, US domestic (del Midwest mill)*, $/lt 250.00 Weekly (Fri) 0.00 0.00Shredded, Indian imports (CFR port)*, $/mt 232.00 Weekly (Fri) 0.00 0.00* Latest index is for week beginning June 27, 2016.

www.Telegram.me/Commodities

July 6, 2016SBB Steel MarketS Daily

2© 2016 S&P Global Platts, a division of S&P Global. All rights reserved.

1935-7354

Senior Managing EditorRuss McCulloch, Singapore ( 65 6227 7811)

Shanghai:

Managing editor, steel/raw materialsKeith Tan ( 86 21 5110 5478)

Australia:

Senior Managing EditorPaul Bartholomew ( 61 3963 12096)

Content Director, Metals (Asia)Annalisa Jeffries ( 65 6216 1154)Content Director, Metals (Americas)Joe Innace ( 1 212 904 3484)

Global Editorial Director, Metals & TSISteven Randall

TSI DAILY IRON ORE PRICE INDICES

London:

Editor-in-chiefColin Richardson ( 44 7966 887 676)

Team Leader, raw materialsHector Forster ( 44 207 176 6285)

Markets EditorsDavid Braid; Jitendra Gill; Simon Price

Pittsburgh:

Associate Editorial DirectorChristopher Davis ( 1 412 431 0398)

Managing Editor, scrap/raw materialsNicholas Tolomeo ( 1 412 246 1577)

Markets EditorsMichael Fitzgerald; Estelle Tran

Singapore:

Managing editor, scrap/steelAnna Low ( 65 6216 1052)

Markets editorsMelvin Yeo ( 65 6530 6517);Han Lu, Edwin Yeo; Hongmei Li; Kenneth Foo; Jebsen Seo; Sui Ling Phang

SBB STEEL MARKETS DAILYVolume 10 / Issue 131 / July 6, 2016

Chief Content OfficerMartin Fraenkel

Platts PresidentImogen Joss

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ISSN:

asia...from page 1

Per 1% Fe dIFFerenTIalS, $/dmt $/dmt ChangeRange: 61-64% Fe 0.90 0.00Range: 56-59% Fe 1.00 0.00

FOB netBack per rOute / Basis tsi 62% Fe, 3.5% al FIneSorigin Vessel Type FoB ($/dmt) Change % ChgW.Australia Capesize 51.00 -0.15 -0.29India Supramax 50.25 -0.10 -0.20Brazil Capesize 46.10 -0.15 -0.32

rollIng averageS, $/dmt 5-day monthly Quarterly62% Fe fines, 3.5% Al, CFR Tianjin port 54.66 55.23 55.2358% Fe fines, 1.5% Al, CFR Qingdao port 45.58 46.10 46.1062% Fe fines, 2% Al, CFR Qingdao port 54.92 55.47 55.4763.5/63% Fe fines, 3.5% Al, CFR Qingdao port 55.66 56.23 56.2365% Fe fines, 1% Al, CFR Qingdao port 58.46 59.03 59.03

quiet with the largest EAF group yet to issue firm offers to suppliers.

In early trading, one Southeast mill was purchasing shredded down $20/lt, prime grades at sideways to down $10/lt and cut grades down $10-$15/lt. Sources said Southeast prices had the most room to come down as they were the highest priced last month. Shredded scrap averaged $280/lt delivered mill in the Southeast in June.

One Southeast supplier said he expected "to see mills increase [the] percentage of shred in melt, as a result of [the] price gap developing between prime and shred." He said trading was likely to be finalized by Thursday afternoon.

— Nicholas Tolomeo

Earlier Wednesday, a separate company official said none of the Wuhan, Hubei province-based company's blast furnaces had been shut, although some of the rolling lines halted production. "There's not been a blackout at the works, and we will resume production after the rains stop," said the official, who is located at the works.

us obsolete scrap down $10/lt in early July trading ... from page 1

TSI daIly Iron ore IndIceS, July 6, 2016 $/dmt Change % Chg low* High*62% Fe fines, 3.5% Al, CFR Tianjin port NA NA NA 37.00 68.7058% Fe fines, 1.5% Al, CFR Qingdao port NA NA NA 35.30 59.4062% Fe fines, 2% Al, CFR Qingdao port NA NA NA 37.30 69.0063.5/63% Fe fines, 3.5% Al, CFR Qingdao port NA NA NA 38.00 69.5065% Fe fines, 1% Al, CFR Qingdao port NA NA NA 40.80 74.50* Past 12 months


mailto:[email protected]



PLATTS DAILY IRON ORE PRICE ASSESSMENTS

PlaTTS daIly Iron ore aSSeSSmenTS, July 6 $/dmt midpoint Change % ChgIODEX 62% Fe CFR North China NA-NA NA NA NA65% Fe CFR North China NA-NA NA NA NA58% Fe low Al CFR North China NA-NA NA NA NA58% Fe* CFR North China NA-NA NA NA NA*Al = 4.0% max

Per 1% dIFFerenTIalS (range 60-63.5% Fe), $/dmt within min-max $/dmt ChangePer 1% Fe 60-63.5% Fe NA NAPer 1% Alumina 1-2.5% Al2O3 NA NAPer 1% Silica 4.5-6.5% SiO2 NA NA 6.5-9% SiO2 NA NAPer 0.01% Phosphorus 0.09-0.12% P NA NA

platts weekly irOn Ore lump premium spOt assessment, July 5 $/dmtu midpoint ChangeSpot lump premium assessment 0.1650-0.1660 0.1655 0.0000

FOB netBacks per rOute / Basis iODeX 62% Fe Freight rateroute Vessel Type ($/wmt) moisture (%) iodeX ($/dmt)Australia Capesize NA 8.03 NAIndia West Panamax NA 8.11 NAIndia West Handymax NA 8.11 NAIndia East Handymax NA 8.00 NABrazil Capesize NA 9.00 NANW Europe (CFR) Capesize NA 9.00 NASouth Africa Capesize NA 3.00 NA

Reference ports are Port Hedland, Mormugao, Haldia/Paradip, Tubarao, Rotterdam (CFR), Saldanha Bay. NW Europe IODEX netback is calculated by adding Tubarao to Rotterdam Capesize freight to IODEX Brazil netback.

FreIghT dIFFerenTIalS To maJor ImPorT PorTS, $/wmtFrom Qingdao on a Free out basisTo North China: Caofeidian, Tianjin & Xingang NATo East China: Beilun NATo South China: Zhanjiang & Fangcheng NA

rollIng monThly average, $/dmtIODEX 62% Fe NA

PelleT PremIumS $/dmt ChangeWeekly CFR China 65% Fe spot assessment* 23.50 NA*assessed July 5

estimated contract provisional pricing

Atlantic Blast Furnace 65% Fe (Jul) 30.50 0.00Direct Reduction 67.5% (Jul) 41.50 0.00

weekly manganeSe ore ($/dmtu) $/dmtu weekly change assessed44% Manganese Ore CIF Tianjin 3.10 0.00 01-Jul-1637% Manganese Ore CIF Tianjin 2.60 -0.20 01-Jul-16

He could not confirm the authenticity of a photographed document supposedly listing the units affected by the flooding that made the rounds in Chinese social media. The unverified list, which accurately said the No 4 melting shop stopped production due to flooding, also said six coking batteries and three coke dry quenching units were banked. It said two stockpiles of sinter plant feed were breached and listed other units, including melting shops and rolling lines, that had halted production because of flooding.

A third source at Wisco's international trading company, located separately from the works, said employees at his unit had left for home for the day due to a power outage. "The works are located on a relatively higher altitude, so flooding shouldn't be as bad as in the city," he said. The international trading company handles imports of raw materials and exports of steel products.

Heavy rainfall over the past week has wreaked widespread havoc in several central and southern Chinese provinces, including Hubei and Anhui.

— Keith Tan

Coal transport restored to China's magang after floodingSingapore—Transportation of metallurgical coal to Maanshan Iron & Steel in eastern China has resumed after rising water levels on the Yangzi River halted use of an important regional railroad Sunday, a company source told S&P Global Platts Wednesday.

"[Use of the railroad] has resumed," said the source, who was in Shanghai to meet railway officials to secure its use for his company, the biggest steelmaker in Anhui province. The Shanghai Railway Bureau controls use of the infrastructure in Jiangsu, Zhejiang and Anhui provinces, plus Shanghai.

"It's normal for use to be halted when water levels are high, for safety reasons," he said. "Thanks to the support from the officials in Shanghai, things are back to normal."

The source's account contrasts with that in an article on the state-owned steelmaker's website Wednesday, which said China's eighth-biggest steelmaker by output was facing "serious challenges" after security of its coal supply was put at risk when use of the Nanjing-Wuhu Railway was halted.

"To prevent the two railway bridges from being inundated by flood waters, Shanghai Railway Bureau temporarily stopped traffic of all trains on the Ningwu Railway, leading to a breakage in the transportation of coal to

CorreCTion: eCore new yard

An article published Tuesday in Steel Markets Daily should have stated that 80% of Ecore’s deepsea shipments are delivered to the Turkish market.





PlaTTS daIly meTallurgIcal coal aSSeSSmenTS, July 6

asia-Pacific coking coal ($/mt)

FoB CFr CFr Change australia China india australia China indiaHCC Peak Downs Region NA NA NA NA NA NAPremium Low Vol NA NA NA NA NA NAHCC 64 Mid Vol NA NA NA NA NA NALow Vol PCI NA NA NA NA NA NAMid Tier PCI NA NA NA NA NA NASemi Soft NA NA NA NA NA NA

atlantic coking coal ($/mt)

FoB us east Coast Change Vm ash sLow Vol HCC 89.00 0.00 19% 8% 0.80%High Vol A 91.50 0.00 32% 7% 0.85%High Vol B 83.75 0.00 34% 8% 0.95%

CFr nw europe Change Vm ash sPremium Low Vol NetForward NA NANA 21.5% 9.3% 0.50%

Detailed methodology and specifications are found here:http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/metcoalmethod.pdf

dry bulk freight assessments

route Vessel Class Freight rate ($/mt) ChangeAustralia-China Capesize NA NAAustralia-Rotterdam Capesize NA NAAustralia-China Panamax NA NAAustralia-India Panamax NA NAUSEC-China Panamax 19.25 1.50USEC-India Panamax 17.50 1.50USEC-Rotterdam Panamax 8.50 0.75USEC-Brazil Panamax 6.25 0.25

East Australia: basis Hay Point port. USEC: basis Hampton Roads. See methodology for further details.

PCC met (Platts China Coal – metallurgical) (yuan/mt)*

ex-washplant Free-on-rail ddP TangshanPCC Met Shanxi Premium Low Vol 655 690 850PCC Met Shanxi High Sulfur Premium Low Vol 520 555 715PCC Met North China Fat Coal – – 780PCC Met Shanxi PCI 485 520 635PCC Met Shandong Semi Soft 555 575 –

PCC Met Rail Freight Shanxi – Tangshan 200PCC Met Truck Freight Shanxi – Tangshan 195

*weekly (assessed July 5 )

north China prompt port stock prices

ex-stock Jingtang CFr Jingtang (yuan/mt, incl VaT) equivalent ($/mt)**Premium Low Vol* 780.00 96.40

HCC 64 Mid Vol* 760.00 93.83

*weekly (assessed July 1), 20-day delivery from date.

**ex-stock price, net of port charges, import tax and VAT

Source: Platts

The assessed price of HCC Peak Downs® originates with Platts and is based on price information for a range of HCCs with a CSR> 67% normalized to the standard of HCC Peak Downs® (CSR 74%). Peak Downs® is a registered trade mark of BM Alliance Coal Operations Pty Limited "BMA". This price assessment is not affiliated with or sponsored by BMA in any way.

meTallurgIcal coke

%Csr $/mt Change % ChgFOB North China 66/65 NA NA NAFOB North China 62 NA NA NACFR India 62 NA NA NA

yuan/mtDDP North China (weekly) 62 960.00 0.00 0.00

Magang," the Magang Daily reported.The source dismissed the account as "only

the news," suggesting what the article said about it only being left with coal inventories for three days' of production was true, because that was all the space they had in their stockyard.

Another company source said the steelmaker's works have not been flooded, and that production was normal.

A separate Beijing-based source at a coal miner said it was "too early" to tell how big the impact of the recent flooding would be on Magang.

"All [rail] lines from Shanxi to Anhui have been temporarily stopped, and Magang has some coal supply from Shanxi," he said.

— Keith Tan with Edwin Yeo

sCraP markeT

Turkish scrap deals flow despite eid celebration, prices fallLondon—The Turkish scrap import market continued apace Wednesday, scotching predictions Eid-al-Fitr celebrations would hamper significant activity.

Two fresh cargoes were heard bought by a Marmara EAF-based producer, both of European origin. One contained 20,000 mt of 75:25, 3,500 mt of shredded and 6,500 mt of bonus for an average price of $209.50/mt CFR. The transaction took place Tuesday, sources close to the transaction said.

The second cargo came from a Benelux merchant and contained 16,500 mt of 75:25, 7,000 mt of bonus and 6,500 mt of busheling for an average of $212.50/mt CFR. It was also done Tuesday, sources close to the transaction said.

Based on the new cargoes and feedback from the market, Platts assessed Turkish imports

suBsCriBer noTe: PlaTTs sinGaPore Holiday

The S&P Global Platts Singapore office was closed for the Hari Raya Puasa holiday Wednesday, July 6, 2016.

Iron ore and metallurgical coke assessments from the Singapore office were not published. Platts weekly Chinese Iron Ore Spot Lump Premium 62.5% CFR China and weekly pellet premium assessment (CFR China 65% Fe spot assessment) were brought forward one day and published on Tuesday, July 5. Normal publishing schedules will resume on July 7.

For full details of Platts' holiday publishing schedule and services affected, please refer to www.platts.com/HolidayHome. For queries, please contact [email protected].






cokIng coal SwaPS aSSeSSmenT, July 6 $/mt Change % Chg

Platts Premium low Vol FoB australia

Aug 16 NA NA NASep 16 NA NA NAOct 16 NA NA NAQ4 2016 NA NA NAQ1 2017 NA NA NAQ2 2017 NA NA NA2017 NA NA NA

iODeX 62% Fe cFr norTh chIna oTc SwaPS aSSeSSmenT, July 6 switchiodeX 62% $/dmt Change % Chg Tsi 62Aug 16 NA NA NA NASep 16 NA NA NA NAOct 16 NA NA NA NAQ4 2016 NA NA NA NAQ1 2017 NA NA NA NAQ2 2017 NA NA NA NACalendar 2017 NA NA NA NADetailed methodology and specifications are found here: www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/ironore.pdf

PenalTIeS & PremIa: dIFFerenTIalS ($/mt) within % of Premium low Vol FoB net value min-max australia assessment price ($/mt)Per 1% CSR 60-71% NA% NAPer 1% VM (air dried) 18-27% NA% NAPer 1% TM (as received) 8-11% NA% NAPer 1% Ash (air dried) 7-10.5% NA% NAPer 0.1%S (air dried) 0.3-1% NA% NA

us low-vol HCC Penalties & Premia; differentials ($/mt)

within % of us low-vol HCC FoB net value min-max useC assessment price ($/mt)Per 1% CSR 50-64% 0.25% 0.22 40-49% 0.20% 0.18Per 0.1% S 0.70-1.05% 0.75% 0.67 1.06-1.25% 0.75% 0.67Per 1% TM (as received) 6.0-11.0% 1.00% 0.89Per 1% Ash 5.0-10.0% 1.50% 1.34

of premium deepsea HMS I/II (80:20) at $211/mt CFR Wednesday, down $2/mt from Tuesday.

Additionally, two premium cargoes were heard traded. The first came from a Scandinavian seller to an Izmir EAF-based producer, containing 20,000 mt of 80:20, 5,000 mt of shredded and 10,000 mt of bonus at an average $215/mt CFR. This normalized to around $211/mt CFR on an 80:20 basis.

The second was from the US, with the buyer in Marmara heard to be seeking the cargo Tuesday. It contained 30,000 mt of 80:20 at $216/mt, 5,000 mt of shredded at $221/mt and 5,000 mt of P&S at $226/mt. Sources were split on when the cargo was completed, saying both Friday and Monday were possible. Given the unclear chronology, it was not fully reflected into the assessment process.

"We're hearing a lot of business from last week," a trader said. "People are trying to support the market and keep it stable, but the truth is that there are no buyers and there are 15-20 cargoes waiting to be booked."

A seller in Europe said he was waiting until Friday for some clarity, saying there were too many mixed messages in the market.

— Simon Price

oTHer news

Coal exports from dalrymple Bay hit one-year high in JunePerth—Coal exports from Australia’s Dalrymple Bay coal terminal reached a one-year high of 6.42 million mt in June, up 1% month on month, a source close to the Queensland terminal said Wednesday. The coal terminal had exported 6.92 million mt in June 2015, port data showed.

The Dalrymple Bay terminal, which is located

suBsCriBer noTePlatts announces future im communication plansIn support of Platts communication processes around the Market on Close and eWindow environments and in light of the announced discontinuation of the legacy Yahoo! instant messenger application, Platts will begin to use the ICE Instant Messenger tool for communication within the oil, petrochemical, RIN, biofuel markets and other adjacent spaces as needed. Additionally, Platts will support the web versions of Skype and the enterprise level Skype for Business for communication across any market, including those listed above. Platts remains open to accepting messages from existing IM channels as well as phone and email where these mechanisms have been adopted by the markets. Details of how to contact Platts using the ICE and Skype messaging systems will be made available soon. After the 5th of August Platts will be launching a further consultation period across all the commodity sectors to discuss and refine which solutions are most suitable for use.

For comments or questions please contact [email protected]





TSI FerrouS ScraP IndIceS Price Change % Chg

Turkish imports ($/mt)

HMS 1&2 80:20, deep-sea (CFR Iskenderun port) 213.00 -2.00 -0.93

Shredded, deep-sea (CFR Iskenderun port)* 223.00 -5.00 -2.19

Plate and Structural, deep-sea (CFR Iskenderun port)* 228.00 -5.00 -2.15

A3, short-sea (CFR Marmara port)* 211.00 -5.00 -2.31

us domestic ($/lt)

Shredded, US domestic (del Midwest mill)* 250.00 0.00 0.00

Shredded, US domestic monthly 10 day avg. (del Midwest mill)** 251.00 -22.00 -8.06

Taiwanese imports ($/mt)

HMS 1&2 80:20, containerized (CFR Taiwanese port)* 204.00 -1.00 -0.49

indan imports ($/mt)

Shredded, containerized (CFR West Coast Indian port)* 232.00 0.00 0.00*Weekly price, latest index is for week beginning June 27, 2016

**Monthly price, latest index for June, published June 13, 2016

within the Hay Point port in central Queensland, operated at an annualized rate of 78.11 million mt/year, only 6.89 million mt/year lower than its nameplate capacity of 85 million mt/year.

Typically, coal shipments in June are strong, as producers seek to maximize exports for the last month of the fiscal year in Australia.

All the coal shipment capacity at Dalrymple Bay is currently contracted to coal producers located in Queensland's Bowen Basin coal field, the terminal source said.

Although the June figure is up only 1% from the 6.36 million mt shipped in May, it is 19% higher from the fiscal year to date [July 2015-June 2016] average of 5.41 million mt, port data showed. For the fiscal year ended June 30, DBCT exported 67.35 million mt of coal, the source said, down 5.6% from the 71.35 million mt exported in the 2014-15 (July-June) fiscal year.

Anglo American, BHP Billiton, Glencore, Peabody Energy and Rio Tinto are the coal producers shipping through DBCT.

The breakdown of how much coal is thermal and metallurgical was not immediately available, however, the source said the general rule of thumb is that 18% of throughput is thermal coal, and about 82% metallurgical.

The volume sent to various export destinations was expected to be available next week. China, Japan and South Korea are the largest recipients of coal shipped via DBCT. The terminal had nine ships in its offshore vessel queue as of Tuesday, according to a terminal operating report.

— Mike Cooper

iranian iron ore miner ramping up, moving into steelDubai—Iran’s largest iron ore producer, Chadormalu, will continue its expansion project in order to meet domestic demand, Managing Director Mohamad Nourian said at the company’s annual meeting.

The company produced around 9.6 million

meTals melTdown PodCasTis a new Chinese steel giant on the horizon?Peter Brennan, Sebastian Lewis and Christopher Davis on how the wait for the first significant merging of Chinese steelmakers could be at an end.

download/stream this podcast viahttp://plts.co/qH6c301kxH3

sBB-smD raw materials reFerence prices $/mt Change % Chg

Coke and coal

Charcoal - Brazil domestic (Real/mt)^ 520.00 0.00 0.00

iron

SGX 62% Fe Iron Ore cash-settled swaps (dry mt) - front month 52.88 -0.72 -1.34

Iron ore concentrate 66% Fe dry - China domestic (Yuan/mt)* 510.00 30.00 6.25

Atlantic Basin iron ore pellets*** FOB Basis ($ cents/dmtu) 115.97 -6.71 -5.47

Pig iron - FOB - Black sea export* 232.50 -5.00 -2.11

Pig iron - FOB Ponta da Madeira - Brazil export** 245.00 -40.00 -14.04

HBI - Venezuela export** 140.00 -15.00 -9.68*Weekly ^Fortnightly **Monthly ***Reflects estimated monthly price term contract delivery

sBB-smD FerrOus scrap reFerence prices Price Change % Chg

scrap, europe/Turkey (£/mt)

OA (plate & structural) - UK domestic, delivered* 120.00 0.00 0.00

($/mt)

Shredded - delivered - N. Europe domestic, delivered 296.11 73.81 33.20

Shredded - delivered - S. Europe domestic, delivered* 234.02 0.44 0.19

scrap, asia* ($/mt)

H2 - del Okayama - Tokyo Steel purchase price, at works gate 189.64 9.35 5.19

H2 - del Utsunomiya - Tokyo Steel purchase price, at works gate 184.78 18.02 10.81

Heavy - Shanghai - China domestic 202.08 -17.56 -7.99

HMS 1/2 80:20 CFR - East Asia import* 225.50 -7.00 -3.01

Shredded Scrap CFR India* 225.00 0.00 0.00

Shindachi Bara - del Okayama - Tokyo Steel purchase (list) price 209.09 10.78 5.44

Shindachi Bara - del Utsunomiya -Tokyo Steel purchase (list) price 199.37 19.08 10.58

Shredded scrap A (auto) - del Okayama -Tokyo Steel purchase (list) price 194.51 5.21 2.75

Shredded scrap A (auto) - del Utsunomiya -Tokyo Steel purchase (list) price 189.64 18.37 10.73

H2 FOB Japan (Yen/mt)* 18000.00 -1000.00 -5.26

scrap, americas ($/lt)

#1 Busheling - N. America domestic, del, Midwest US* 285.00 0.00 0.00

HMS 1/2 - N. America domestic, del Midwest US* 227.50 0.00 0.00

Plate & Structural - N. America domestic, del Midwest US* 245.00 0.00 0.00

(real/mt)

HMS 1/2 - Brazil S.E. domestic* 410.00 0.00 0.00

Clean Steel Scrap - Brazil S.E. domestic, delivered* 430.00 0.00 0.00

Turnings - Brazil S.E. domestic, delivered* 310.00 0.00 0.00Prices monthly unless otherwise noted. *Weekly





markeTPlaCe

�� Ferrous scrap: Turkey — A Scandinavian merchant sold a cargo to an Izmir EAF-based producer, containing 20,000 mt of 80:20, 5,000 mt of shredded and 10,000 mt of bonus for an average of $215/mt: trader�� Ferrous scrap: Turkey — A Benelux merchant sold a cargo to a Marmara EAF-based producer containing 16,500 mt of 75:25, 7,000 mt of bonus and 6,500 mt of busheling for an average of $212.50/mt: buyer�� Ferrous scrap: Turkey — A European merchant sold a cargo to a Marmara EAF-based producer, containing 20,000 mt of 75:25, 3,500 mt of shredded and 6,500 mt of bonus for an average price of $209.50/mt: buyer�� Ferrous scrap: Turkey — A US merchant sold a cargo to a Marmara EAF-based producer, containing 30,000 mt of 80:20 at $216/mt CFR, 5,000 mt of shredded at $221/mt CFR and 5,000 mt of P&S at $226/mt CFR: seller�� Ferromoly: 60% — Japan trader bought from China $15.90/kg CIF Japan, July loading, 20 mt

(This is a sample of trade and market information gathered by Platts editors as they assessed the daily coking coal, steel, scrap and freight prices. They were first published on Platts Metals Alert earlier in the day as part of the market-testing process with market participants. For more related information about that process and our realtime news and price services, please request a trial to Platts Metals Alert or learn more about the product offering by visiting www.platts.com/Products/metalsalert)

mexican flat steel prices jump Prices for flat steel goods in Mexico have gone up by about 25% in early July, as suppliers raised offers on strengthening raw materials costs and steel prices in the international market.

For more steel news, please visit: www.sbb.com

�� Esfahan Steel to increase billet casting capacity�� Iranian exports drop 36%�� China's CRC export prices edge upward�� Special report: S EU coils edging down on import pressure�� Asian HRC stable as buyers digest China price hikes�� German plate producer reduces working hours�� CIS HRC weakens but rebound expected shortly after Ramadan�� US hot-rolled coil buyers see availability, pricing steady�� Strip product prices fail to firm up in Brazil

�� Rebar holds steady in Asia on stable Chinese market�� AM Kryviy Rih opens new warehouse in Ukraine's steel city�� CIS billet market silent but looking up�� Chinese steel imports to LA down 35% on year for January-May�� N China rebar market stabilizes�� Chinese imports continue to dominate Turkish seamless market�� Sichuan pledges further capacity cuts�� Korean shipbuilders suffer historic orders slump�� India angers China with new dumping probe into colored sheet�� Longs consumption supports Turkish steel output in January-May�� German carmakers and suppliers raided in steel-buying probe�� Thyssenkrupp expands Mexican auto components presence�� US raw steel production dips 1.1% week on week�� Brazilian slab offers drift down, new player gets in�� Mill margins widen in US, Platts data show�� Prospects are steadier for demand and prices: TSI survey

mt of iron ore concentrate in the last Iranian year (to March 20), 28% more than its nominal capacity, Nourian said. Iran’s steelmaking is not dependent on imports and so is not affected by the international crisis in supply and demand, he added.

The country has estimated iron ore reserves of 4.6 billion mt, of which 2.8 billion is considered “discovered." To meet Iran’s national steelmaking target of 55 million mt/year by 2025, iron ore production must be increased to 88 million mt/year, including 77 million mt/year of concentrate being converted to pellet for DRI, plus some 11 million mt/year of lump ore. This will require overall mining of some 154 million mt/year of crude ore, Nourian added.

Iranian iron ore mining is under increasing pressure from Australian competition on the export market and is turning to the domestic market and steel production instead — Chadormalu’s launch of its DRI module and steelmaking plant in 2017 being an example of this trend. The greatest pressure, however, is being felt by small private miners: according to the Iranian Iron Ore Producers’ & Exporters’ Association (IROPEX), 5,000 jobs have been cut in the private sector since January 2016 and as many as 31 mines stopped producing.

Around 39 million mt/year of iron ore is produced by Iranian miners, of which 5 million mt comes from the private sector. Of this, 14 million mt of ore was exported in the last Iranian year, mainly to China, according to IROPEX.

— Staff

iron ore swaps slip following weaker China dCe trade: brokersLondon—Iron ore swaps Wednesday found lower pricing in prompt quarter trading during a day slowed by a Singaporean public holiday and publication of the main indices absent, according to brokers.

A brokerage cited financial participants selling to Chinese buyers with Q3 2016 swaps

trading at $50.75/dmt and Q4 at $46.50/dmt.Brokers' end-day curves were marked

down by 35-45 cents at the front and 25 cents shaved off 2017, compared to Tuesday's closes. The front quarter Q4 2016 was marked at the close in London at $46.65/dmt-$47/dmt, with August at $50.90-$51.13/dmt.

China's onshore markets remained active, with iron ore futures traded on the Dalian Commodity Exchange seeing the September contract move to Yuan 428/dmt ($63.93/dmt) toward the close, down from a Yuan 436/dmt close on Tuesday.

"Recent choppy trade in the onshore market has continued unabated today with another Yuan 25 range during the Asian day, closing on the London open at 8 am Yuan 428, recovering from earlier session lows at Yuan 418," a note from FIS said.

— Hector Forster

Ferroalloys markeT

moly oxide in narrow range, trade slow as buyers cautiousLondon—The molybdenum oxide market was holding in a fairly narrow range Wednesday amid thin trade with buyers generally unwilling to pick up material.

"The market is locked. People are hesitant to bid at $6.70-6.75 in case they're booked," said one European trader, citing offer levels at $6.80/lb. A second European trader was offering oxide powder at $6.90/lb inter-trade.

The Platts daily dealer oxide assessment range narrowed to $6.80-$6.90/lb from $6.80-$7/lb previously, while the Platts daily European ferromolybdenum assessment was unchanged at $17.10-$17.30/kg.

In Asia, Chinese ferromolybdenum was offered by Chinese traders in the range of $15.50-$16/kg CIF Japan, while lower numbers

sTeel Headlines






snaPsHoT VideoH2 2016: what is the outlook for China’s volatile steel market?Paul Bartholomew focuses on China and the steel price volatility witnessed in the first half of the year and what we could potentially see over the second half of 2016.

watch the videohttp://plts.co/rHyp301idrG

were heard on a CIF Busan basis. A Japanese trader reported a 20 mt deal at $15.90/kg CIF Japan for July loading.

"It makes no sense to buy moly oxide at $6.70/lb, as converted into ferromoly it is over $17/kg," said a Chinese trader, who was not offering moly oxide.

The Chinese trader, however, said more Chinese stainless steelmakers were in the spot market in the past week, possibly affected by higher nickel prices. On Monday, a tender was awarded at around Yuan 16,000 ($2,587)/mt, he added.

"Tender award levels have been holding stable and are unlikely to go down further," said the trader.

— Andy Blamey with Mayumi Watanabe in Tokyo

ameriCas

June Brazilian pig iron exports fall 46% year on yearSao Paulo—Brazil’s pig iron exports in June totaled 149,929 mt, a 46.2% decrease from 279,106 mt in the same month a year ago, the Ministry of Development and Foreign Trade said Wednesday.

On a month-on-month basis, exports were 16.5% lower compared with May's 179,606 mt, ministry data showed.

The US was the primary destination for Brazilian pig iron in June, taking 73,245 mt, against 43,226 mt in May.

The average FOB price for Brazilian pig iron exports to the US in June was $213/mt, compared with $204/mt in May.

About 71,968 mt of June's pig iron exports moved through the port of Vitoria, while 62,002 mt were shipped through the port of Sao Luiz.

— Priscilla Antunes

Brazil’s June coke imports slump 83.8% on year: ministrySao Paulo—Brazilian coke imports plunged 83.8% year on year in June to 46,290 mt from 287,063 mt in the year ago-month, Ministry of

eurOpe anD us cOlD-rOlleD cOil assessments, July 6 eur/mt Close/midpoint Change % ChgEx-works, Ruhr 505.00-515.00 510.00 0.00 0.00CIF Antwerp 470.00-475.00 472.50 0.00 0.00DDP NW Europe (Accessible to SBB Briefing subscribers at sbb.com)

$/mtFOB Black Sea 390.00-400.00 395.00 0.00 0.00

$/stEx-works, Indiana 820.00-840.00 830.00 0.00 0.00CIF, Houston 590.00-610.00 600.00 0.00 0.00

PlaTTs sTeel indusTry assessmenTs, July 6 Close/midpoint Change % Chg

asia

Hot-rolled coil $/mtSS400 FOB China 350.00-355.00 352.50 0.00 0.00SAE1006 Premium 10.00 10.00 0.00 0.00

reinforcing bar $/mtFOB China 309.00-314.00 311.50 0.00 0.00

europe

Hot-rolled coil eur/mtEx-works, Ruhr 415.00-420.00 417.50 0.00 0.00CIF Antwerp 390.00-395.00 392.50 0.00 0.00DDP NW Europe (Accessible to SBB Briefing subscribers at sbb.com)

$/mtFOB Black Sea 350.00-360.00 355.00 0.00 0.00

Plate eur/mtEx-works, Ruhr 500.00-515.00 507.50 -2.50 -0.49CIF Antwerp 425.00-435.00 430.00 0.00 0.00

reinforcing bar eur/mtEx-works, NW Eur 455.00-465.00 460.00 0.00 0.00

$/mtFOB basis Turkey 380.00-385.00 382.50 0.00 0.00

Billet $/mtFOB Black Sea 315.00 315.00 0.00 0.00

north america

Hot-rolled coil $/stEx-works, Indiana 620.00-640.00 630.00 0.00 0.00CIF, Houston 500.00-520.00 510.00 0.00 0.00

Plate $/stEx-works, US SE 630.00-650.00 640.00 0.00 0.00CIF, Houston 540.00-570.00 555.00 0.00 0.00

reinforcing bar $/stEx-works, US SE 535.00-550.00 542.50 0.00 0.00CIF, Houston 377.00-386.00 381.50 0.00 0.00







platts Daily asia paciFic metallurgical cOal relativities - July 6, 2016 July 5 spread spread Csr Vm Tm ash s P Fluidity Vit % CFr China vs PlV vs HCC 64 ad ar ad ad ad ddpm $/mt

peak Downs 74 20.50 9.50 10.50 0.60 0.03 400 71 98.25* 101.03%

*Peak downs FoB australia (China netback) after accounting for Haypoint-Qingdao Panamax freight = $90.75/mt

Saraji 72 18.50 10.00 10.50 0.60 0.03 160 66 97.25 100.00%

premium low vol 71 21.50 9.70 9.30 0.50 0.045 500 65 97.25** 100.00%

**Premium low Vol FoB australia (China netback) after accounting for Haypoint-Qingdao Panamax freight = $89.75/mt

German Creek 70 19.00 10.50 9.50 0.54 0.06 180 70 95.75 98.46%

Illawarra 73 23.50 10.00 9.50 0.45 0.06 2000 58 96.25 98.97%

Moranbah North 68 23.30 10.00 8.50 0.50 0.04 1800 58 95.75 98.46%

Oaky Creek 67 24.50 10.00 9.50 0.60 0.07 4000 80 95.75 98.46%

Goonyella 68 23.40 10.00 8.90 0.52 0.03 1100 62 95.75 98.46%

Goonyella C 70 23.50 10.00 9.80 0.55 0.04 1200 62 94.50 97.17%

Peak Downs North 68 22.80 10.50 9.80 0.51 0.05 900 63 94.25 96.92% 101.34%

Standard 70 22.50 9.00 9.50 0.45 0.06 150 53 93.00 95.63% 100.00%

Premium 70 25.50 9.00 8.80 0.50 0.07 300 56 93.00 95.63% 100.00%

Hail Creek 69 20.50 10.00 10.00 0.30 0.07 300 54 95.00 97.69%

Hcc 64 mid vol 64 25.50 9.50 9.00 0.60 0.05 1700 55 93.00 95.63% 100.00%

Mavis Downs 63 22.00 10.00 8.00 0.35 0.05 75 93.00 100.00%

Lake Vermont HCC 62 21.50 11.00 7.50 0.44 0.07 120 50 93.00 100.00%

Carborough Downs 58 22.50 11.00 8.00 0.35 0.04 30 44 91.25 98.12%

Middlemount Coking 57 19.00 10.00 10.00 0.50 0.045 50 89.25 95.97%

Poitrel Semi Hard 45 24.00 12.00 8.00 0.43 0.05 300 54 87.25 93.82%July 5 freight rates. Australia to China: Panamax = $7.50/mt Capesize = $5.10/mt

Notes: ad = air-dried; ar = as received; CSR = coke strength after reaction; ddpm = dial divisions per minute

A detailed explanation of the Platts Metallurgical Coal Relativities can be found here: http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/metcoalmethod.pdfFor further information about this data please contact [email protected]

Source: Platts

PlaTTS weekly meTallurgIcal coal relaTIvITIeS Table July 1, 2016 Csr Vm Tm ash s P Fluidity Vit % July 1, FoB spread d ar d d d ddpm Hampton roads vs us lV

Oak Grove 70.50 21.75 8.00 9.30 0.56 900 65.20 93.50 105.65%

Blue Creek No. 7 71.00 19.85 7.00 8.92 0.72 0.03 1113 69.60 93.00 105.08%

Blue Creek No. 4 61.50 28.39 7.00 8.54 0.71 0.04 21387 68.80 92.50 104.52%

Beckley 62.00 16.75 7.50 7.00 0.82 50 68.60 90.00 101.69%

low vol FOB usec* 58.00 19.38 8.00 8.16 0.82 88.50 100.00%

Windber 51.20 16.50 8.00 7.00 1.00 25 85.75 96.89%

Buchanan 40.00 18.68 7.00 5.26 0.73 100 87.00 98.31%

Pinnacle 43.00 15.80 8.00 7.00 1.00 0.014 7 68.00 83.50 94.35%July 1 Panamax freight rates. Hampton Roads to Rotterdam = $7.50/mt, Hampton Roads to Brazil = $6.00/mt, Mobile to Rotterdam = $9.00/mt.

d = dry; ar = as received; CSR = coke strength after reaction; ddpm = dial divisions per minute. *assumes inherent moisture of 2% for ad/d conversion.

For further information about this data please contact [email protected]

Source: Platts

Trade and Industry data showed Wednesday.The value of the imports dropped 89%

to $5.82 million, from June 2015's $53.24 million.

China was the major exporter to Brazil, with shipments of 45,884 mt — 72% below the year-ago month's total — while the value of the imports fell 80.8% to $5.69 million. The average price of coke imported from China was $124.11/mt, according to ministry data.

Argentina was the second-largest exporter to Brazil, with a total of 266 mt, down from 290

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PlaTTS Turkey arc STeel Tracker, July 6, 2016 scrap Billet rebar

vs 30-day -2.49% (-$5.30) 6.57% ($21.54) -3.76% (-$14.39)vs 60-day -4.90% (-$10.44) 8.11% ($26.61) -2.73% (-$10.45)

market direction: -0.93% (-$2.00) industry Composite index: 59.07

Price moves relative to each commodity measured vs 30-day and 60-day moving averages.

ScraP: Iron ore raTIoS ratio Previous ratio

HMS I/II 80:20 CFR Turkey: TSI 62% iron ore CFR North China NA NAUS shredded delivered Midwest: TSI 62% iron ore CFR North China NA NA

PLATTS TURKEY ARC STEEL TRACKER BASED ON 30-DAY AVERAGES(%)

Platts Turkey ARC is a relative strength indicator for Platts Turkey Rebar FOB, Platts Black Sea Billet CFR Turkey basis and Benchmark TSI Scrap CFR prices*. The daily index for each commodity shows the degree the price is over or below the average of price relationships with the others for the past 30 or 60 days, with 0 as equilibrium. Indices provide trading price signals for the commodity or for the wider complex, and potential changes in demand and supply for the steel industry. Source: Platts *e�ective March 1, 2016

-25

-20

-15

-10

-5

0

5

10

Jul-16Apr-16Jan-16Oct-15Jul-15

Market DirectionScrap 30Rebar 30Billet 30

PlaTTS STeel aSSeSSmenTS currency and unIT comParISonS, July 06 Prior assessment eur/mt $/mt $/st $/CwT $/mt $ change % change

Hot-rolled coil

Ex-works, Ruhr* 417.50*** 462.26 419.36 20.97 463.34 -1.08 -0.23%FOB Black Sea* 320.63 355.00*** 322.06 16.11 355.00 0.00 0.00%CIF Antwerp* 392.50*** 434.58 394.25 19.72 435.60 -1.02 -0.23%Ex-works, Indiana** 625.20 694.44 630.00*** 31.50 694.44 0.00 0.00%CIF, US Gulf states, basis Houston** 506.12 562.17 510.00*** 25.50 562.17 0.00 0.00%

Cold-rolled coil

Ex-works, Ruhr* 510.00*** 564.67 512.27 25.62 566.00 -1.33 -0.23%FOB Black Sea* 356.76 395.00*** 358.34 17.92 395.00 0.00 0.00%CIF Antwerp* 472.50*** 523.15 474.60 23.74 524.38 -1.23 -0.23%Ex-works, Indiana** 823.68 914.90 830.00*** 41.50 914.90 0.00 0.00%CIF, US Gulf states, basis Houston** 595.44 661.38 600.00*** 30.00 661.38 0.00 0.00%

Plate

Ex-works, Ruhr* 507.50*** 561.90 509.76 25.49 566.00 -4.10 -0.72%CIF Antwerp* 430.00*** 476.10 431.92 21.60 477.21 -1.11 -0.23%Ex-works, US Southeast** 635.13 705.47 640.00*** 32.00 705.47 0.00 0.00%CIF, US Gulf states, basis Houston** 550.78 611.77 555.00*** 27.75 611.77 0.00 0.00%

reinforcing bar

Ex-works, Northwest Europe* 460.00*** 509.31 462.05 23.11 510.51 -1.20 -0.24%East Mediterranean, basis Turkey* 345.47 382.50*** 347.00 17.35 382.50 0.00 0.00%Ex-works, US Southeast** 538.37 597.99 542.50*** 27.13 597.99 0.00 0.00%CIF, US Gulf states, basis Houston** 378.59 420.52 381.50*** 19.08 420.52 0.00 0.00%*LN 16:30 Eur/$ ex rate = 1.1072; **NY 16:30 $/Eur ex rate = 0.9003. ***the primary assessments and have not been converted

Please note: All Platts and TSI CIF and CFR prices (US, Europe, Southern Europe, Persian Gulf and Turkey) represent freely traded values. This means they do not reflect any restrictions or duties as a result of trade cases. For detailed specifics, The Platts Weekly Trade Case Status report can be found on the last pages of this issue.

mt in June 2015. The value of the imports from Argentina totaled $104,020, with the average price $391.05/mt.

Sepetiba port, in Rio de Janeiro state, received almost all the imports last month, handling 45,161 mt. Steelmakers CSN and CSA and mining company Vale each operate a private terminal at the state-owned port.

The ministry reported the import values on a FOB at origin basis, excluding freight.

— Jose Guerra

Global metals outlookFor the latest Platts metals

stories posted and updated daily.

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assessmenT raTionales

Turkish Ferrous scrap assessment rationale: Platts assessed HMS I/II 80:20 CFR Turkey at $211/mt Wednesday, down $2/mt from Tuesday. Two cargoes were heard bought by a Marmara EAF-based producer, both of European origin. One of the cargoes contained 20,000 mt of 75:25, 3,500 mt of shredded and 6,500 mt of bonus for an average price of $209.50/mt CFR. This was confirmed with sources close to the transaction to have taken place Tuesday. The second cargo came from a Benelux merchant and contained 16,500 mt of 75:25, 7,000 mt of bonus and 6,500 mt of busheling for an average of $212.50/mt CFR. It was also confirmed with sources close to the transaction to have been done Tuesday. A Scandinavian seller sold to an Izmir EAF-based producer a cargo containing 20,000 mt of 80:20, 5,000 mt of shredded and 10,000 mt of bonus at $215/mt CFR average. This normalized to an 80:20 price of around $211/mt CFR. A premium US cargo was heard sold containing 30,000 mt of 80:20 at $216/mt CFR, 5,000 mt of shredded at $221/mt CFR and 5,000 mt of P&S at $226/mt CFR. Sources were split on when the cargo was completed, with some saying either Friday and Monday were possible. As the chronology of this deal was unclear, it was not fully reflected in the assessment. No data was excluded from the assessment.

The above rationale applies to Platts assessment of premium HMS I/II (80:20) imported into Turkey, with the associated market data code: FETKD00

mexican integrated steelmaker ahmsa produced a record 425,000 mt of pellets in June, the company said wednesday. “The new mark is superior to the 424,000 mt produced in December 2014 in the pelletizing plant,” Ahmsa said. The unit processes iron ore sent by Minera del Norte (Minosa) to supply Ahmsa’s blast furnaces. Minosa is a subsidiary of Ahmsa. Its ore, after extraction, is put through grinding and concentration processes, and then mixed with water and sent to Ahmsa’s steelmaking conglomerate in Monclova through a 295 km-long pipeline.

Turkish iron ore imports recovered in may after declining 25.3% month on month and 23.5% year on year in april, as a modest rise in basic oxygen converter steel output that month supported imports. Crude

steel produced by EAFs increased by 7% on year to 2.04 million mt in May, while production via oxygen converters rose 2.2% on year to 1 million mt, according to a Turkish Steel Producers’ Association (TCUD) statement. The latest data released by the Turkish Statistical Institute (TUIK) showed the country imported 967,650 mt of iron ore in May, some 24% higher than the 781,228 mt imported in the previous month. This figure was, however, approximately the same as the 978,515 mt imported in May 2015. Brazil remained Turkey’s largest iron ore supplier by far in May, providing 526,857 mt, 56% higher than the previous month, while Russia supplied 215,611 mt, also up 15% on month. Turkey’s iron ore imports from Sweden totaled 164,952 mt, approximately the same as the previous month, while Ukraine’s iron ore shipments to Turkey totaled 60,230 mt in May, down 34% on month, the latest data showed.

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Trade caSe STaTuS rePorTcomplainant duties product(s) Origin(s) Status/comments

north americaUS AD HRC Brazil, Australia, Japan, South Korea,

Netherlands, Turkey, UKPreliminary AD duties of 4-7% for South Korea, Netherlands 5%, Turkey 5-7%, Japan 7-11%, Australia 23%, Brazil 34% and UK 49%

US CVD HRC Brazil, Korea, Turkey Preliminary CVD of 7.42% for Brazil, final determinations in May

US AD CRC Brazil, China, India, South Korea, Russia, Japan, UK

Final AD duties of 265.79% for China, 71.35% for Japan. Others await final ruling

US CVD CRC Brazil, China, India, Korea and Russia Brazil subsidy rate 7.42%, China 227.29%, India 4.45%, Russia (except Severstal) 6.33%, negative for S. Korea

US AD, CVD Cut-to-length plate Austria, Belgium, Brazil, China, France, Germany, Italy, Japan, South Korea, South Africa, Taiwan and Turkey, Brazil, China and South Korea

US International Trade Commission finds reasonable indication that US mills were injured by the 12 countries

US AD Corrosion-resistant sheet China, India, Italy, South Korea, Taiwan Final AD duties of 209.97% for China; India 3.05-4.44%, Italy 12.63-92.12%, Korea 8.75-47.8% and Taiwan 3.77%

US CVD Corrosion-resistant sheet China, India, Italy, South Korea, Taiwan Final CVD margins of 39.05-241.07% for China; 8-29.46% for India; de minimis to 38.51% for Italy; de minimis to 1.19% for Korea and zero for Taiwan

US AD Rebar Turkey Commerce found a de minimis weighted average dumping margin for Habas and a 3.64% margin for Icdas and other producers and exporters

US AD Structural tube South Korea, Mexico, Turkey Provisional dumping duties of 2.53-3.81% for Korean mills, Mexico 3.99-16.31%, Turkey 14.48%

US AD, CVD Circular welded carbon-quality steel pipe

Oman, Pakistan, UAE and Vietnam Preliminary AD margins of 11.8% for Pakistan, Oman 7.86%, UAE 6.1-9.25% and Vietnam 0.38-113.18%

US AD Wire rod Mexico Commerce cuts dumping margin for Deacero to 1.54% and ArcelorMittal to 2.59%

US AD, CVD Stainless sheet and strip China Preliminary determination postponed until September 9. Alleged dumping margins are 54-83%

US CVD Stainless seamless pipe India Preliminary CVD duties of 2.96-6.21% applied to welded stainless pressure pipe suppliers

Canada AD, CVD Hot rolled plate India, Russia Countries found not to have dumped in January announcement

Canada AD, CVD Line pipes China Preliminary duties issued in November, final ruling in May

Mexico AD CR sheet China Duties (65.99-103.41%) imposed in June

Mexico CVD HRC Russia and Ukraine Duties (21% for Russia and 25% for Ukraine) extended for further five years

Mexico AD Plate Russia Review of 29.3% AD duty


Mexico AD HRC, CRC, slab, plate & wire rod Brazil and other exporters Local steelmakers preparing case


Mexico AD Ferromanganese South Korea Case launched in January


Mexico AD Plate Russia Review of existing 29.3% AD duty

south americaChile AD Wire rod All countries (China major importer) except

Canada, Mexico, Peru and developing countries that account for no more than 3% of Chile's rod imports

Imposition of a 38.9% duty for at least the next six months

Chile AD Wire Unspecified countries Investigation begun in December

Chile AD Rebar Mexico Chile's Anti-Price Distortion Commission, or CNDP, recommended a provisional duty of 13.1% for an initial period of four months

Peru AD Tubes China Duties imposed for three years from April 2015

Brazil AD Heavy plate (Chrome) China Duties extended to chrome-added heavy plate in August

Brazil AD HR bars China Investigation launched in December

Brazil AD Rebar Turkey Case started in January, no timeframe disclosed

Brazil AD Seamless pipes China Provisional duties ranging from $810.46-1,151.76/mt valid for six month from February.

Brazil AD Seamless pipes China Provisional duties ranging from $810.46-1,151.76/mt valid for six month from February

europe & TurkeyEU AD HRC, HR plate and seamless tubes China EC opened investigation in February. EC also investigating anti-subsidy proceedings for

HRC.

EU AD HRC Brazil, Iran, Russia, Serbia and Ukraine EC petitioned to launch investigation. Turkey removed from petition

EU AD CRC China, Russia Definitive duties imposed at 19.8-22.1% for China and 18.7-36.1% for Russia

EU AD Rebar China, Belarus Definitive duties of 18.4%-22.5% on Chinese rebar. No retroactive duties. EC opens AD case into imports from Belarus

EU AD GOES China, US, Russia, South Korea, Japan Definitive duties were set at 21.5-36.6% for China, Japan 35.9-39.0%, Korea 22.5%, Russia 21.6% and US 22.0%

EU AD Stainless CR China, Taiwan Duties imposed in August (China 24.3-25.2%, Taiwan 6.8%)

Turkey AD Seamless pipe China Transitional measures of 22.15-50.35%

Turkey AD PPGI China final dumping duties of 23.4%

Turkey AD HRC China, Russia, Japan, Slovakia, France, Ukraine, Romania

Provisional duties removed after petitioners withdrew their appeal

EU AD, CVD Ductile cast iron pipe imports India 14.1% on Jindal Saw Ltd. but put none on Electrosteel Castings Ltd. On all other companies it has imposed a duty of 14.1%. The EC imposed countervailing duty on Electrosteel Castings Ltd of 9%, Jindal Saw Ltd. of 8.7% and all other firms 9%

Turkey AD HRC China, Russia, Japan, Slovakia, France, Ukraine, Romania

Provisional duties removed after petitioners withdrew their appeal





Turkey AD PPGI China Final dumping margin determined at 23.4%

africa & middle eastMorocco Safeguard

dutiesRebar, wire rod All imports, duties extended by three years

from DecemberDuty in effect since 2013 is dirham 0.55/kilogram. Tonnage allowed in duty-free rises by 10% per year

Morocco Safeguard duties

CRC, coated sheet All imports, duties extended by four years from December

Duty rates are 22% for 2015, 20% for 2016, 18% for 2017 and 16% for 2018

Egypt Safeguard duties

Rebar All imports for three years from May 2015 Tariff of 8%

Iran Import duties

Flats (except HRC 2mm), longs and billetChina, Russia, Turkey Duties raised from 10-15% in March

asiaSouth Korea AD Stainless steel plate Japan Application for three year extension of 13.17% duty

Thailand AD HR sheet, tubes, pipes Brazil, Turkey, Iran Investigation set to begin

Thailand AD Tubes, pipes China, South Korea Investigation set to begin

Thailand AD HRC 14 countries inc South Korea, Japan, India, Taiwan, Russia

AD penalities maintained in May this year

Thailand AD Pickled and oiled HRC South Korea Investigation announced on February 4. Sahaviriya Steel Industries alleges a dumping margin of 22.11%

Malaysia AD HRC China Duties of 6.3-12.9% imposed in February

Malaysia AD CRC China, South Korea, Vietnam Final duties of 3.78-23.78% for China, 3.78-21.64% South Korea and 3.06-13.68% Vietnam

Malaysia AD Color coated coil China, Vietnam Duties of 00.6% to 52.10% (all Chinese exporters) imposed in January

Vietnam AD CR plate China, Taiwan, Indonesia, Malaysia Duties imposed in September 2014

Indonesia Import duties

HRC, CRC, galv, wire rod Most favored nations’ inc India, South Korea, Japan, CIS, Latin America

Jakarta close to raising import duties

China AD Grain-oriented electrical steel EU, South Korea and Japan Provisional AD duties of 39-45.7% for Japan, 14.5-29.5% for South Korea and 46.3% for EU mills

India CVD HR, CR stainless flat products China Unfair trade investigation opened into Jan-Dec 2015 period

India AD HR coil sheets and plates China, Japan, South Korea, Russia, Brazil and Indonesia

Opened a new investigation with a provisional duty expected by June 15

India Min import price

173 products, inc HRC, CRC, plate, galv All importers Effective February 5 for six months; MIP for HRC listed as $445/mt, does not factor in 12.5% import duty on flat products and 20% safeguard duty on HRC

Pakistan AD Billet China Duty maintained at 15%

Pakistan AD CRC China, Ukraine Preliminary duties of 8-19% imposed on January 13, final ruling by June 13

India Safeguard duties

HRC Duties raised to 20% for 200 days from September 2015

India AD Stainless CR South Korea, Taiwan, Thailand, South Africa, US

Duties extended for further five years until 2020. Investigation into claims exporters are circumventing duties

India CVD HR, CR stainless flat products China Unfair trade investigation opened into Jan-Dec 2015 period

India AD Alloy and non-alloy color-coated/ pre-painted flats

China, EU The period of investigation is July-December 2015.

India AD HRC, CRC all importers India has pushed the response deadline for it HRC & CRC AD investigations to June 20

Pakistan AD CRC China, Ukraine Preliminary duties of 8-19% imposed on January 13, final ruling by June 13

Pakistan AD Wire rod China Investigation launched in October, preliminary determination by mid-April

Pakistan AD Billet China Duty maintained at 15%

australia (Investigation launched in December)

Australia AD Structural sections UAE, India Preliminary dumping duties of 5-24% imposed ahead of final ruling in March, CVD probe to start

Australia AD, CVD Rebar China Final AD duty on Hunan Valin Xiangtan Iron & Steel of 44.1%, Shagang rod 37.4%, and all other Chinese exporters 53.1%

Australia AD Wire rod China Dumping duties of up to 14.3% imposed on the four countries in November

Australia AD Rebar South Korea, Singapore, Spain, Taiwan Invesigation initiated in November

Australia AD Chrome-plated bar Italy, Romania Duties of 5.7-29.7% imposed in August; probe into India and UAE announced in December

Australia AD Hollow structural sections Thailand, India, UAE Duties of 10.1% on Indonesian exporters and 2.7% on Taiwanese exporters imposed in June

Australia AD Wire rod Indonesia, Taiwan (Turkey exempted) Duties imposed in November 2014

Australia AD Quenched & tempered plate Sweden, Finland, Japan Dumping duties imposed in 2012 continued (China also subject to CVD duties)

Australia AD ERW pipes China, South Korea, Malaysia and Taiwan

Source: Compiled by Platts, updated weekly

Trade caSe STaTuS rePorTcomplainant duties product(s) Origin(s) Status/comments



STEEL PRICE REPORT

www.platts.com www.twitter.com/PlattsSteel METALSwww.sbb.com

(continued on page 7)

Assessment RAtionAleP

latts Rebar FoB turkey Assessment Rationale: S&P Global Platts assessed Turkish export rebar at $382.50/mt Wednesday, representing a range of $380-$385/mt last seen in the market. No new transactions were reported as the market remained silent in Turkey for the Eid al-Fitr holiday. Sources referred to pricing from last week as the last visible levels. An Asian trader put the market $380-$390/mt FOB as per the last trade. No new pricing was

ContentsPlatts steel price trackers 2Flat products 2Long products 4Pipe and tube 5Stainless 6Semi-finished 7Steel mill economics: global spreads 8Steel assessments currency and unit comparisons 8Platts Turkey ARC tracker 9Exchange steel futures 10Steel industry data 10Trade Case Status Report 11

DAily steel BenChmARks Platts symbol Unit Range midpoint % change

semi-finishedBillet China domestic production Tangshan inc. 17% VAT SB01032 Yuan/mt NA–NA NA NABillet FOB Black Sea STBLB00 $/mt – 315.00 0.00

hot-rolled coilHRC FOB China SS400 STHRZ02 $/mt 350.00–355.00 352.50 0.00HRC FOB China SAE1006 Premium STHRY00 $/mt 10.00 10.00 0.00HRC FOB Black Sea STHRB00 $/mt 350.00–360.00 355.00 0.00HRC CIF US Gulf Coast STHRG00 $/st 500.00–520.00 510.00 0.00HRC CIF Antwerp STHRA00 €/mt 390.00–395.00 392.50 0.00HRC EXW Indiana STHRI00 $/st 620.00–640.00 630.00 0.00HRC DDP Northwest Europe AAWVM00 €/mt 435.00–440.00 437.50 0.00HRC EXW Ruhr STHRE00 €/mt 415.00–420.00 417.50 0.00HRC CPT Moscow (weekly) AAXJI00 Rb/mt 29850.00–30550.00 30200.00 -6.28

Cold-rolled coilCRC FOB Black Sea STRRB00 $/mt 390.00–400.00 395.00 0.00CRC CIF US Gulf Coast STRRG00 $/st 590.00–610.00 600.00 0.00CRC CIF Antwerp STRRA00 €/mt 470.00–475.00 472.50 0.00CRC EXW Ruhr STRRE00 €/mt 505.00–515.00 510.00 0.00CRC EXW Indiana STRRI00 $/st 820.00–840.00 830.00 0.00CRC DDP Northwest Europe AAWWB00 €/mt 525.00–535.00 530.00 0.00

PlatePlate US EXW Southeast STPRI00 $/st 630.00–650.00 640.00 0.00Plate CIF US Gulf Coast STPRG00 $/st 540.00–570.00 555.00 0.00Plate CIF Antwerp STPRA00 €/mt 425.00–435.00 430.00 0.00Plate EXW Ruhr STPRE00 €/mt 500.00–515.00 507.50 -0.49

RebarRebar FOB Turkey STCBM00 $/mt 380.00–385.00 382.50 0.00Rebar FOB China STCBZ02 $/mt 309.00–314.00 311.50 0.00Rebar CIF US Gulf Coast (Houston) STCBG00 $/st 377.00–386.00 381.50 0.00Rebar EXW US Southeast STCBC00 $/st 535.00–550.00 542.50 0.00Rebar EXW Northwest Europe STCBE00 €/mt 455.00–465.00 460.00 0.00

Rebar HRB400 18-25mm China domestic production Beijing trader inc. 17% VAT SB01198 Yuan/mt 2350.00–2390.00 2370.00 +0.64

the steel index (tsi)TSI HRC USA (FOB Midwest mill) TS01018 $/st – 619.00 -1.75TSI HRC Northern Europe (EXW) TS01015 €/mt – 424.00 0.00TSI HRC Southern Europe (EXW) TS01016 €/mt – 400.00 -0.99TSI HRC (SAE) Asean imports (CFR Asean port) TS01041 $/mt – NA NA

For Platts assessment methodology, please go to: http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/steel.pdf

For TSI methodology, please go to https://www.thesteelindex.com/en/procedures-methodology/

375

400

425

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475

06-Jul22-Jun08-Jun24-May10-May25-Apr11-Apr

HOT�ROLLED COIL, DDP, NW EUROPE (€/mt)



Steel Price rePort July 6, 2016


PlAtts steel PRiCe tRACkeRstracker name Platts symbol Value Change

Steel price tracker World SBIAX00 166.18 -0.04HRC price tracker World SBIAH00 447.82 -1.73Rebar price tracker World SBIAQ00 442.01 -0.48Stainless price tracker World SBIAW00 79.29 0.00Tube & pipe price tracker World SBIAY00 93.48 0.00

Flat products price tracker China domestic SBIAB00 103.55 -0.71Flat products price tracker China exports SBIAC00 65.73 +0.09Flat products price tracker East Asia imports SBIAD00 121.29 0.00Flat products price tracker Black Sea exports SBIAA00 75.79 -0.50Flat products price tracker Europe domestic SBIAE00 145.06 0.00Flat products price tracker Latin America domestic SBIAF00 112.49 0.00Flat products price tracker North America domestic SBIAG00 201.17 0.00

tracker name Platts symbol Value Change

Long products price tracker China domestic SBIAJ00 126.09 0.00Long products price tracker China exports SBIAK00 111.04 0.00Long products price tracker East Asia imports SBIAL00 160.56 0.00Long products price tracker Black Sea exports SBIAI00 77.48 0.00Long products price tracker Europe domestic SBIAM00 193.02 -0.33Long products price tracker North America domestic SBIAN00 186.25 0.00

Steel price tracker China domestic SBIAT00 113.23 -0.31Steel price tracker Middle East imports SBIAO00 71.93 0.00Steel price tracker Latin America exports SBIAU00 61.65 0.00Steel price tracker North America domestic SBIAV00 199.69 0.00

Tube & pipe price tracker North America SBIAP00 80.06 0.00Note: Trackers updated to reflect previous day's price inputs

FlAt PRoDUCts Frequency Platts symbol Unit Range midpoint % change

hot-rolled coil export assessmentsHRC FOB China SS400 Daily STHRZ02 $/mt 350.00–355.00 352.50 0.00HRC FOB China SAE1006 Premium Daily STHRY00 $/mt 10.00 10.00 0.00HRC FOB Black Sea Daily STHRB00 $/mt 350.00–360.00 355.00 0.00HRC Russia Black Sea exports FOB Monthly SB01151 $/mt 385.00–395.00 390.00 -19.59HRC Turkey exports FOB Weekly SB01155 $/mt 430.00–450.00 440.00 -2.22

hot-rolled coil import assessmentsHRC CIF US Gulf Coast Daily STHRG00 $/st 500.00–520.00 510.00 0.00HRC CIF Antwerp Daily STHRA00 €/mt 390.00–395.00 392.50 0.00HRC East Asia imports CFR Weekly SB01142 $/mt 353.00–358.00 355.50 +6.76HRC Europe imports CIF Southern Europe port Monthly SB01143 €/mt 420.00–440.00 430.00 0.00HRC Middle East imports CFR Persian Gulf port Monthly SB01146 $/mt 360.00–370.00 365.00 -26.26HRC Turkey imports CFR Turkish port Monthly SB01156 $/mt 410.00–440.00 425.00 -15.00HRC DDP West Midlands UK Weekly STHWM04 £/mt 365.00–375.00 370.00 0.00

hot-rolled coil domestic assessmentsHRC EXW Indiana Daily STHRI00 $/st 620.00–640.00 630.00 0.00HRC DDP Northwest Europe Daily AAWVM00 €/mt 435.00–440.00 437.50 0.00HRC EXW Ruhr Daily STHRE00 €/mt 415.00–420.00 417.50 0.00HRC Southern Europe domestic production EXW Weekly SB01152 €/mt 410.00–420.00 415.00 0.00HRC Q235 5.5mm China domestic production Shanghai inc. 17% VAT Daily SB01260 Yuan/mt 2590.00–2600.00 2595.00 -0.38HRC Turkey domestic production EXW Weekly SB01154 $/mt 450.00–470.00 460.00 -2.13HRC Mexico domestic production delivered Monthly SB01145 $/mt 752.00–773.00 762.50 +25.31HRC India domestic production EXW inc. duty and 4% VAT Monthly SB01144 Rupee/mt 33624.00–34804.00 34214.00 0.00HRC Brazil domestic production EXW taxes excluded Weekly SB01138 Real/mt 1950.00–2000.00 1975.00 -8.14HRC CPT Moscow Weekly AAXJI00 Rb/mt 29850.00–30550.00 30200.00 -6.28HR Sheet CPT Moscow Weekly AAXJH00 Rb/mt 30450.00–31150.00 30800.00 -6.17




Flat products Frequency platts symbol unit range Midpoint % change

Cold-rolled coil export assessmentsCRC Russia Black Sea exports FOB Monthly SB01090 $/mt 450.00–460.00 455.00 -17.27CRC China exports FOB Shanghai Weekly SB01083 $/mt 380.00–385.00 382.50 +1.32CRC Brazil exports FOB Brazilian port Monthly SB01081 $/mt 450.00–470.00 460.00 -7.07CRC FOB Black Sea Daily STRRB00 $/mt 390.00–400.00 395.00 0.00

Cold-rolled coil import assessmentsCRC East Asia imports CFR Monthly SB01084 $/mt 395.00–435.00 415.00 0.00CRC Europe imports CIF Southern Europe port Monthly SB01085 €/mt 460.00–470.00 465.00 -11.43CRC Turkey imports CFR Turkish port Monthly SB01093 $/mt 460.00–490.00 475.00 -15.93CRC CIF US Gulf Coast Daily STRRG00 $/st 590.00–610.00 600.00 0.00CRC CIF Antwerp Daily STRRA00 €/mt 470.00–475.00 472.50 0.00

Cold-rolled coil domestic assessmentsCRC Southern Europe domestic production EXW Weekly SB01091 €/mt 500.00–520.00 510.00 -1.92CRC China domestic production Shanghai inc. 17% VAT Weekly SB01082 Yuan/mt 2890.00–2920.00 2905.00 +1.22CRC Turkey domestic production EXW Monthly SB01092 $/mt 560.00–580.00 570.00 -15.56CRC Mexico domestic production delivered Monthly SB01086 $/mt 877.00–893.00 885.00 +28.35CRC Brazil domestic production EXW taxes excluded Monthly SB01080 Real/mt 2180.00–2250.00 2215.00 -7.71CRC EXW Ruhr Daily STRRE00 €/mt 505.00–515.00 510.00 0.00CRC EXW Indiana Daily STRRI00 $/st 820.00–840.00 830.00 0.00CRC DDP Northwest Europe Daily AAWWB00 €/mt 525.00–535.00 530.00 0.00

hot dip galvanized assessmentsHDG China export FOB Shanghai Monthly SB01119 $/mt 439.00–450.00 444.50 -1.22HDG Middle East imports CFR Persian Gulf port Monthly SB01122 $/mt 470.00–490.00 480.00 -23.81HDG Europe imports CIF Southern Europe port Monthly SB01121 €/mt 470.00–490.00 480.00 -15.79HDG North America imports CFR Gulf port Monthly SB01124 $/st 645.00–675.00 660.00 -14.29HDG Northern Europe domestic production EXW base price Monthly SB01125 €/mt 550.00–560.00 555.00 +4.72HDG Southern Europe domestic production EXW base price Monthly SB01126 €/mt 510.00–520.00 515.00 -1.90HDG North America domestic production Ex-mill US Midwest Monthly SB01123 $/st 885.00–905.00 895.00 -0.56HDG China domestic production Shanghai inc. 17% VAT Monthly SB01118 Yuan/mt 3420.00–3570.00 3495.00 -4.90HDG Brazil domestic production EXW taxes excluded Monthly SB01117 Real/mt 2480.00–2550.00 2515.00 -8.55

Plate assessmentsPlate CIS export FOB Monthly SB01179 $/mt 400.00–415.00 407.50 -18.50Plate commercial grade China export FOB Shanghai Monthly SB01180 $/mt 328.00–332.00 330.00 -2.94Plate Europe imports CIF Southern Europe port Monthly SB01182 €/mt 420.00–430.00 425.00 -7.61Plate A36 East Asia imports CFR Monthly SB01176 $/mt 340.00–360.00 350.00 0.00Plate CIF US Gulf Coast Daily STPGM00 $/mt 595.24–628.31 611.77 0.00Plate CIF Antwerp Daily STPRA00 €/mt 425.00–435.00 430.00 0.00Plate China domestic production Shanghai inc. 17% VAT Monthly SB01178 Yuan/mt 2360.00–2400.00 2380.00 +0.42Plate Southern Europe domestic production EXW Weekly SB01185 €/mt 470.00–480.00 475.00 0.00Plate Turkey domestic production EXW Monthly SB01186 $/mt 530.00–550.00 540.00 -12.90Plate A36 Brazil domestic production EXW taxes excluded Monthly SB01175 Real/mt 1850.00–1985.00 1917.50 -4.13Plate CIF US Gulf Coast Daily STPRG00 $/st 540.00–570.00 555.00 0.00Plate EXW Ruhr Daily STPRE00 €/mt 500.00–515.00 507.50 -0.49




Flat products Frequency platts symbol unit range Midpoint % change

long PRoDUCts Frequency Platts symbol Unit Range midpoint % change

Rebar export pricesRebar FOB Turkey Daily STCBM00 $/mt 380.00–385.00 382.50 0.00Rebar FOB China Daily STCBZ02 $/mt 309.00–314.00 311.50 0.00

Rebar import pricesRebar CIF US Gulf Coast (Houston) Daily STCBG00 $/st 377.00–386.00 381.50 0.00Rebar East Asia imports CFR Weekly SB01195 $/mt 308.00–315.00 311.50 +2.81Rebar Middle East imports CFR Gulf States port Monthly SB01201 $/mt 400.00–420.00 410.00 -20.39

Rebar domestic pricesRebar EXW US Southeast Daily STCBC00 $/st 535.00–550.00 542.50 0.00Rebar EXW Northwest Europe Daily STCBE00 €/mt 455.00–465.00 460.00 0.00Rebar HRB400 18-25mm China domestic production Beijing Trader inc. 17% VAT Daily SB01198 Yuan/mt 2350.00–2390.00 2370.00 +0.64Rebar Middle East domestic production EXW Monthly SB01200 $/mt 440.00–500.00 470.00 -21.67Rebar North America domestic production Ex-mill US Midwest Weekly SB01202 $/st 550.00–565.00 557.50 0.00Rebar HRB400 18-25mm China domestic production Shanghai inc. 17% VAT Weekly SB01259 Yuan/mt 2140.00–2210.00 2175.00 +5.33Rebar CPT Moscow Weekly AAXJG00 Rb/mt 28800.00–29240.00 29020.00 -1.79

tsi flat-rolled pricesTSI HRC USA (FOB Midwest mill) Daily TS01018 $/st – 619.00 -1.75TSI CRC USA (FOB Midwest mill) Weekly TS01005 $/st – 824.00 -0.48TSI HDG USA (FOB Midwest mill) Weekly TS01010 $/st – 894.00 -0.67TSI Plate USA (FOB Midwest mill) Weekly TS01025 $/st – 645.00 -1.68TSI HRC Northern Europe (EXW) Daily TS01015 €/mt – 424.00 0.00TSI CRC Northern Europe (EXW) Weekly TS01002 €/mt – 524.00 -0.19TSI HDG Northern Europe (EXW) Weekly TS01007 €/mt – 594.00 -1.66TSI Plate Northern Europe (EXW) Weekly TS01023 €/mt – 512.00 -1.35TSI HRC Southern Europe (EXW) Daily TS01016 €/mt – 400.00 -0.99TSI CRC Southern Europe (EXW) Weekly TS01003 €/mt – 518.00 -0.77TSI HDG Southern Europe (EXW) Weekly TS01008 €/mt – 584.00 +0.34TSI Plate Southern Europe (EXW) Weekly TS01024 €/mt – 479.00 -5.34TSI HRC Turkey (EXW) Weekly TS01017 $/mt – 445.00 -1.55TSI CRC Turkey (EXW) Weekly TS01004 $/mt – 540.00 0.00TSI HDG Turkey (EXW) Weekly TS01009 $/mt – 610.00 0.00TSI HRC (SAE) Asean imports (CFR Asean port) Daily TS01041 $/mt – NA +NATSI CRC Asean imports (CFR Asean port) Weekly TS01042 $/mt – 396.00 +0.25TSI Plate Asean imports (CFR Asean port) Weekly TS01043 $/mt – 348.00 +0.29TSI HRC China exports (FOB China port) Weekly TSHRC00 $/mt – 331.00 0.00

TSI CRC China exports (FOB China port) Weekly TSCRC00 $/mt – 386.00 0.00




Long products Frequency platts symbol unit range Midpoint % change

PiPe AnD tUBe Frequency Platts symbol Unit Range midpoint % changeWeldPipe S235 48mm diameter 2mm wall Turkey exports FOB Turkish port Monthly SB01255 $/mt 600.00–620.00 610.00 -10.29WeldTube S235 50-170mm diameter Europe domestic production delivered Monthly SB01258 €/mt 560.00–570.00 565.00 +3.67WeldPipe standard 4 inch black ERW North America domestic production Ex-mill US Midwest Monthly SB01256 $/st 960.00–980.00 970.00 0.00WeldPipe standard 4 inch black ERW North America imports EDDP Gulf port Monthly SB01257 $/st 730.00–740.00 735.00 0.00WeldPipe OCTG carbon steel ERW J55 4 1/2-8 5/8 inch North America domestic production Ex-mill US Monthly SB01253 $/st 770.00–800.00 785.00 0.00WeldPipe OCTG carbon steel ERW J55 4 1/2-8 5/8 inch North America imports EDDP Gulf port Monthly SB01254 $/st 700.00–725.00 712.50 +7.557 inch steel OCTG FOB Tianjin Monthly AAXNI00 $/mt 470.00–510.00 490.00 -6.677 inch steel OCTG FOB Tianjin Monthly AAXNK00 $/ft 4.90–5.32 5.11 -6.75

Wire rod export prices

Wire rod mesh quality Black Sea exports FOB Monthly SB01243 $/mt 360.00–370.00 365.00 -18.44Wire rod mesh quality China exports FOB Shanghai Weekly SB01261 $/mt 316.00–318.00 317.00 +2.59Wire rod mesh quality Latin America exports FOB Latin America port Monthly SB01248 $/mt 435.00–445.00 440.00 -9.28Wire rod mesh quality Turkey exports FOB Turkish port Monthly SB01251 $/mt 425.00–440.00 432.50 -17.22

Wire rod import prices

Wire rod mesh quality Europe imports CIF Southern Europe port Monthly SB01247 €/mt 450.00–460.00 455.00 -7.14

Wire rod domestic prices

Wire rod mesh quality North America domestic production Ex-mill US Midwest Weekly SB01249 $/st 520.00–550.00 535.00 0.00Wire rod Q195 6.5mm China domestic production Shanghai inc. 17% VAT Weekly SB01262 Yuan/mt 2300.00–2330.00 2315.00 +5.23Wire rod mesh quality Europe domestic production delivered Monthly SB01246 €/mt 460.00–470.00 465.00 -5.10

merchant bar prices

Merchant bar North America domestic production Ex-mill US Midwest Monthly SB01168 $/st 608.00–623.00 615.50 0.00Merchant bar Europe domestic production delivered Monthly SB01166 €/mt 490.00–500.00 495.00 -6.60

Beam

H-beams East Asia imports CFR Monthly SB01114 $/mt 490.00–510.00 500.00 0.00WF beams medium North America domestic production Ex-mill US Midwest Monthly SB01240 $/st 640.00–660.00 650.00 0.00

sections and other

Medium sections Europe imports CIF Southern Europe port Monthly SB01161 €/mt 490.00–500.00 495.00 -2.94Medium sections Europe domestic production delivered Weekly SB01160 €/mt 530.00–540.00 535.00 0.00Medium sections Turkey exports FOB Turkish port Monthly SB01162 $/mt 455.00–470.00 462.50 -14.75Engineering steel HR round bars C45 50-150mm diameter Northern Europe domestic production delivered Monthly SB01102 €/mt 540.00–570.00 555.00 +0.91

tsi long product prices

TSI rebar Northern Europe (EXW) Weekly TS01026 €/mt – 462.00 -1.70

TSI rebar Southern Europe (EXW) Weekly TS01027 €/mt – 418.00 -1.88




stAinless Frequency Platts symbol Unit Range midpoint % change

CR import prices

CR304 2B 2mm East Asia imports CFR Weekly SB01063 $/mt 1750.00–1800.00 1775.00 +2.90CR304 2B 14 gauge transaction price inc. surcharge North America imports ex dock duty paid Gulf port Monthly SB01057 ¢/lb 83.00–85.00 84.00 -1.18CR316 2B 14 gauge transaction price inc. surcharge North America imports ex dock duty paid Gulf port Monthly SB01066 ¢/lb 115.00–117.00 116.00 +2.65CR430 2B 14 gauge transaction price inc. surcharge North America imports ex dock duty paid Gulf port Monthly SB01073 ¢/lb 67.00–69.00 68.00 0.00

CR domestic prices

CR304 2B 2mm coil base Northern Europe domestic production delivered Monthly SB01059 €/mt 1040.00–1090.00 1065.00 +0.95CR304 2B 2mm coil transaction price Northern Europe domestic production delivered Monthly SB01061 €/mt 1925.00–1975.00 1950.00 +3.17CR304 2B 2mm coil base Southern Europe domestic production delivered Monthly SB01060 €/mt 1010.00–1060.00 1035.00 +0.98CR304 2B 2mm coil transaction price Southern Europe domestic production delivered Monthly SB01062 €/mt 1895.00–1945.00 1920.00 +4.63CR304 2B 14 gauge transaction price inc. surcharge North America domestic production Ex-mill US Monthly SB01056 ¢/lb 89.00–91.00 90.00 -2.17CR304 2B 2mm China domestic production Foshan inc. 17% VAT Monthly SB01058 Yuan/mt 11900.00–12350.00 12125.00 +3.41

CR316 2B 2mm coil base Northern Europe domestic production delivered Monthly SB01067 €/mt 1360.00–1400.00 1380.00 +0.73CR316 2B 2mm coil transaction price Northern Europe domestic production delivered Monthly SB01069 €/mt 2615.00–2655.00 2635.00 +5.61CR316 2B 2mm coil base Southern Europe domestic production delivered Monthly SB01068 €/mt 1340.00–1380.00 1360.00 +0.74CR316 2B 2mm coil transaction price Southern Europe domestic production delivered Monthly SB01070 €/mt 2595.00–2635.00 2615.00 +5.66CR316 2B 14 gauge transaction price inc. surcharge North America domestic production Ex-mill US Monthly SB01065 ¢/lb 124.00–126.00 125.00 +1.63CR430 BA 2mm coil base Northern Europe domestic production delivered Monthly SB01075 €/mt 880.00–980.00 930.00 +1.09CR430 BA 2mm coil transaction price Northern Europe domestic production delivered Monthly SB01077 €/mt 1305.00–1405.00 1355.00 +5.04CR430 BA 2mm coil base Southern Europe domestic production delivered Monthly SB01076 €/mt 870.00–970.00 920.00 +1.10CR430 BA 2mm coil transaction price Southern Europe domestic production delivered Monthly SB01078 €/mt 1295.00–1395.00 1345.00 +5.08CR430 2B 14 gauge transaction price inc. surcharge North America domestic production Ex-mill US Monthly SB01072 ¢/lb 72.00–74.00 73.00 0.00CR430 2B 2mm China domestic production Foshan inc. 17% VAT Monthly SB01074 €/mt 7100.00–7150.00 7125.00 -2.06

other domestic stainless prices

HR 304 3mm China domestic production Foshan inc. 17% VAT Monthly SB01136 Yuan/mt 11050.00–11600.00 11325.00 +1.12430F drawn Bar 8-25mm diameter base Europe domestic production delivered Monthly SB01005 €/mt 125.00–135.00 130.00 +4.00304L bright bar 25-80mm diameter transaction price Europe domestic production delivered Monthly SB01003 €/mt 1925.00–2025.00 1975.00 +5.90304L bright bar 25-80mm diameter base Europe domestic production delivered Monthly SB01002 €/mt 85.00–95.00 90.00 +5.88430F drawn Bar 8-25mm diameter transaction price Europe domestic production delivered Monthly SB01006 €/mt 1730.00–1830.00 1780.00 +5.33

Alloy surcharge domestic prices

Alloy surcharge 304 coil North America domestic production Ex-mill US Monthly SB01009 ¢/lb 35.33–35.37 35.35 -3.60Alloy surcharge 316 coil North America domestic production Ex-mill US Monthly SB01012 ¢/lb 50.86–50.90 50.88 +4.13Alloy surcharge 430 coil North America domestic production Ex-mill US Monthly SB01016 ¢/lb 16.06–16.06 16.06 0.00Alloy surcharge 304 coil Europe domestic production Monthly SB01008 €/mt 838.00–914.00 876.00 +10.12Alloy surcharge 316 coil Europe domestic production Monthly SB01011 €/mt 1208.00–1289.00 1248.50 +12.63Alloy surcharge 430 coil Europe domestic production Monthly SB01015 €/mt 395.00–448.00 421.50 +15.48Alloy surcharge 304L bright bar Europe domestic production Monthly SB01010 €/mt 1005.00–1170.00 1087.50 +6.10Alloy surcharge 316L bright bar Europe domestic production Monthly SB01013 €/mt 1450.00–1522.00 1486.00 +10.03Alloy surcharge 420 bright bar Europe domestic production Monthly SB01014 €/mt 370.00–473.00 421.50 +13.00Alloy surcharge 430F bright bar Europe domestic production Monthly SB01017 €/mt 450.00–570.00 510.00 +10.63




Semi-finiShed Frequency Platts symbol Unit Range midpoint % changeBillet China domestic production Tangshan inc. 17% VAT Daily SB01032 Yuan/mt NA–NA NA +0.49Billet Turkey exports FOB Monthly SB01039 $/mt 350.00–370.00 360.00 -18.18Billet East Asia imports CFR Weekly SB01035 $/mt 300.00–310.00 305.00 +1.67Billet Latin America exports FOB Latin America port Monthly SB01037 $/mt 310.00–320.00 315.00 -7.35Billet Turkey imports CFR Turkish port Monthly SB01040 $/mt 310.00–340.00 325.00 -15.58Billet FOB Black Sea Daily STBLB00 $/mt – 315.00 0.00Slab Black Sea exports FOB Weekly SB01233 $/mt 320.00–330.00 325.00 -1.52Slab East Asia imports CFR Monthly SB01235 $/mt 350.00–360.00 355.00 0.00Slab Latin America exports FOB Latin America port Monthly SB01236 $/mt 325.00–340.00 332.50 -10.74

steel heADlines

mexican flat steel prices jump Prices for flat steel goods in Mexico have gone up by about 25% in early July, as suppliers raised offers on strengthening raw materials costs and steel prices in the international market.

For more steel news, please visit: www.sbb.com

■■ Esfahan Steel to increase billet casting capacity■■ Iranian exports drop 36%■■ China's CRC export prices edge upward■■ Special report: S EU coils edging down on import pressure■■ Asian HRC stable as buyers digest China price hikes■■ German plate producer reduces working hours■■ CIS HRC weakens but rebound expected shortly after

Ramadan■■ US hot-rolled coil buyers see availability, pricing steady■■ Strip product prices fail to firm up in Brazil■■ Rebar holds steady in Asia on stable Chinese market■■ AM Kryviy Rih opens new warehouse in Ukraine's steel

city■■ CIS billet market silent but looking up■■ Chinese steel imports to LA down 35% on year for

January-May

■■ N China rebar market stabilizes■■ Chinese imports continue to dominate Turkish seamless

market■■ Sichuan pledges further capacity cuts■■ Korean shipbuilders suffer historic orders slump■■ India angers China with new dumping probe into colored

sheet■■ Longs consumption supports Turkish steel output in

January-May■■ German carmakers and suppliers raided in steel-buying

probe■■ Thyssenkrupp expands Mexican auto components presence■■ US raw steel production dips 1.1% week on week■■ Brazilian slab offers drift down, new player gets in■■ Mill margins widen in US, Platts data show■■ Prospects are steadier for demand and prices: TSI survey

the BARRelthe Platts blog that spans the commodities spectrumRead and respond to posts from Platts editors and analysts on issues affecting a wide range of the world’s energy, petchem, and agriculture resources.

oil, natural gas, electricity and Coal, steel and metals, Petrochemicals, Biofuels and Agriculture, Renewables

…as well as commentary, analysis and observations on everything from global politics, to market dynamics. The Barrel strives to be the world’s most complete commodities blog, and its comment section is always open for your thoughts.

Visit http://blogs.platts.com/ now!

Assessment RAtionAle

...from page 1

visible and the market was deathly quiet, according to a UK trader. No changes in expectations were heard in the UAE during holiday celebrations, according to a UAE buyer. No data was excluded from this assessment.

The above rationale applies to Platts FOB Turkey rebar assessment, with the associated market data code: STCBM00.




PlAtts steel Assessments CURRenCy AnD Unit ComPARisons, JUly 6 Prior assessment €/mt $/mt $/st $/CWt $/mt $ change % changehot-rolled coil

EXW Ruhr* STHRE00 417.50*** STHRM00 462.26 STHRD00 419.36 STHRH00 20.97 463.34 -1.08 -0.23

FOB Black Sea* STHBE00 320.63 STHRB00 355.00*** STHBD00 322.06 STHBH00 16.11 355.00 0.00 0.00

CIF Antwerp* STHRA00 392.50*** STHAM00 434.58 STHAD00 394.25 STHAH00 19.72 435.60 -1.02 -0.23

EXW Indiana** STHIE00 625.20 STHIM00 694.44 STHRI00 630.00*** STHIH00 31.50 694.44 0.00 0.00

CIF, US Gulf states, basis Houston** STHGE00 506.12 STHGM00 562.17 STHRG00 510.00*** STHGH00 25.50 562.17 0.00 0.00

Cold-rolled coil

EXW Ruhr* STRRE00 510.00*** STRRM00 564.67 STRRD00 512.27 STRRH00 25.62 566.00 -1.33 -0.23

FOB Black Sea* STRBE00 356.76 STRRB00 395.00*** STRBD00 358.34 STRBH00 17.92 395.00 0.00 0.00

CIF Antwerp* STRRA00 472.50*** STRAM00 523.15 STRAD00 474.60 STRAH00 23.74 524.38 -1.23 -0.23

EXW Indiana** STRIE00 823.68 STRIM00 914.90 STRRI00 830.00*** STRIH00 41.50 914.90 0.00 0.00

CIF, US Gulf states, basis Houston** STRGE00 595.44 STRGM00 661.38 STRRG00 600.00*** STRGH00 30.00 661.38 0.00 0.00

Plate

EXW Ruhr* STPRE00 507.50*** STPRM00 561.90 STPRD00 509.76 STPRH00 25.49 566.00 -4.10 -0.72

CIF Antwerp* STPRA00 430.00*** STPAM00 476.10 STPAD00 431.92 STPAH00 21.60 477.21 -1.11 -0.23

EXW US Southeast** STPIE00 635.13 STPIM00 705.47 STPRI00 640.00*** STPIH00 32.00 705.47 0.00 0.00

CIF, US Gulf states, basis Houston** STPGE00 550.78 STPGM00 611.77 STPRG00 555.00*** STPGH00 27.75 611.77 0.00 0.00

Reinforcing bar

EXW Northwest Europe* STCBE00 460.00*** STCNM00 509.31 STCND00 462.05 STCNH00 23.11 510.51 -1.20 -0.24

East Mediterranean, basis Turkey* STCEE00 345.47 STCBM00 382.50*** STCED00 347.00 STCEH00 17.35 382.50 0.00 0.00

EXW US Southeast** STCCE00 538.37 STCCM00 597.99 STCBC00 542.50*** STCCH00 27.13 597.99 0.00 0.00

CIF, US Gulf states, basis Houston** STCGE00 378.59 STCGM00 420.52 STCBG00 381.50*** STCGH00 19.08 420.52 0.00 0.00*LN 16:30 €/$ ex rate = 1.3776; **NY 16:30 $/Eur ex rate = 0.7282. ***the primary assessments and have not been converted. Please note: All Platts and TSI CIF and CFR prices (US, Europe, Southern Europe, Persian Gulf and Turkey) represent freely traded values. This means they do not reflect any restrictions or duties as a result of trade cases. For detailed specifics, The Platts Weekly Trade Case Status report can be found on pages 11-13 of this issue.

60

80

100

120

06-Jul21-Jun07-Jun23-May09-May22-Apr08-Apr

REBAR BLACK SEA BILLET SPREAD, PLATTS ($/mt)steel mill eConomiCs: gloBAl sPReADs, JUly 6, 2016

Frequency Platts symbol Unit spread Change % change

HRC ASEAN spread (TSI) Daily AOPFE00 $/mt NA NANA NANA

HRC China export spread (Platts) Daily AOPKE00 $/mt NA NANA NANA

Rebar China export spread (Platts) Daily AOPLE00 $/mt NA NANA NANA

China HRC domestic steel mill margin (MVS) Daily AMVSA00 $/mt NA NANA NANA

China rebar domestic steel mill margin (MVS) Daily AMVSB00 $/mt NA NANA NANA

Rebar scrap Turkey spread (Platts: TSI) Daily AOPGE00 $/mt 169.50 +2.00 +1.19

Rebar Black Sea billet spread (Platts) Daily AOPHE00 $/mt 67.50 0.00 0.00

HRC scrap US spread (TSI) Weekly AOPIE00 $/st 405.19 +7.40 +1.86

Rebar scrap US spread (Platts: TSI) Weekly AOPJE00 $/st 319.29 -20.00 -5.89For spreads calculation and assessment methodology, please go to: http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/steel.pdf




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Associate Editorial Director, Metals Markets – AmericasChristopher DavisOffice: +1-412-431-0398, Mobile: +1-412-656-7681Senior Editor, SteelTom BalcerekOffice: +1-412-824-0941, Mobile: +1-412-916-8476Associate EditorsNicholas TolomeoOffice: +1-412-246-1577, Mobile: +1-412-337-4223Michael FitzgeraldOffice: +1-412-246-1574, Mobile: +1-724-494-9381Estelle TranOffice: +1-412-431-0632, Mobile: +1-412-860-4527Editorial Director of MetalsJoe InnaceOffice: +1-212-904-3484, Mobile: +1-631-747-8054Global Content Director, Metals & TSISteven Randall

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STEEL PRICE REPORT

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PLATTS TURKEY ARC STEEL TRACKER BASED ON 30-DAY AVERAGES(%)

Platts Turkey ARC is a relative strength indicator for Platts Turkey Rebar FOB, Platts Black Sea Billet CFR Turkey basis and Benchmark TSI Scrap CFR prices*. The daily index for each commodity shows the degree the price is over or below the average of price relationships with the others for the past 30 or 60 days, with 0 as equilibrium. Indices provide trading price signals for the commodity or for the wider complex, and potential changes in demand and supply for the steel industry. Source: Platts *e�ective March 1, 2016

-25

-20

-15

-10

-5

0

5

10

Jul-16Apr-16Jan-16Oct-15Jul-15

Market DirectionScrap 30Rebar 30Billet 30

PlAtts tURkey ARC tRACkeRindexes against 30-day and 60-day moving averages 6-Jul 5-Jul vs 30-day vs 60-day vs 30-day vs 60-day

Scrap FETKF10 -2.49% FETKG10 -4.90% FETKF10 -2.19% FETKG10 -4.44% FETKF00 -$5.30 FETKG00 -$10.44 FETKF00 -$4.70 FETKG00 -$9.55

Billet FETKH10 6.57% FETKI10 8.11% FETKH10 6.59% FETKI10 7.72% FETKH00 +$21.54 FETKI00 +$26.61 FETKH00 +$21.61 FETKI00 +$25.32

Rebar FETKJ10 -3.76% FETKK60 -2.73% FETKJ10 -3.89% FETKK60 -2.77% FETKJ00 -$14.39 FETKK00 -$10.45 FETKJ00 -$14.88 FETKK00 -$10.60

Market direction FETKE20 -0.93% FETKE00 -$2.00 FETKE20 0.00% FETKE00 +$0.00

Composite Index(July, 6, 2012 =100) FETKL00 59.07 FETKL00 59.19




WANT TO KNOWMORE ABOUTPLATTS PRICEDISCOVERYPROCESS?

FIND OUT HOWPLATTS METHODOLOGYWORKS IN MORE DETAIL

www.platts.com/methodology-specifications/metals

PROCESSES ARE OPENAND TRANSPARENT We publish bids and offers in real-time to gather market reaction. This helps determine the value of that commodity and ensures transparency around our assessments.

5

METHODOLOGY DRAFTEDWITH MARKET FEEDBACK

We work with the market continually to ensure that what we publish reflects the market.

4IMPARTIAL AND INDEPENDENTPlatts has no vested interest in whether an assessment is priced high or low.

1

PRICE SEEN AS AFUNCTION OF TIME Having a price time-stamped enables us to comparerelated metal products on an equal footing.

2REPEATABILITYOur assessments can’t be based on a one-off trade. We have to be confident prices reflect market values.

3

5COREPRINCIPLES

P L AT T SM E T A L SMETHODOLOGYEXPLAINED

exChAnge steel FUtURes Platts symbol Close % changeRebar futures, China (yuan/mt)

Shanghai Futures Exchange rebar 1 month XHRC001 2181.00 -1.31Shanghai Futures Exchange rebar 2 month XHRC002 2286.00 -1.64Shanghai Futures Exchange rebar 3 month XHRC003 2326.00 -0.98Shanghai Futures Exchange rebar 4 month XHRC004 2378.00 -1.00Shanghai Futures Exchange rebar 5 month XHRC005 2326.00 -1.32Shanghai Futures Exchange rebar 6 month XHRC006 2288.00 -1.68Shanghai Futures Exchange rebar 7 month XHRC007 2315.00 -1.57Shanghai Futures Exchange rebar 8 month XHRC008 2290.00 -1.55Shanghai Futures Exchange rebar 9 month XHRC009 2273.00 -1.81Shanghai Futures Exchange rebar 10 month XHRC010 2315.00 -0.64Shanghai Futures Exchange rebar 11 month XHRC011 2318.00 -1.70Shanghai Futures Exchange rebar 12 month XHRC012 2302.00 -2.13

hot-rolled coil futures, Us ($/st)

CME Globex US Midwest domestic HRC 1 month XNHR001 615.00 0.00CME Globex US Midwest domestic HRC 2 month XNHR002 595.00 0.00CME Globex US Midwest domestic HRC 3 month XNHR003 572.00 0.00CME Globex US Midwest domestic HRC 4 month XNHR004 553.00 0.00CME Globex US Midwest domestic HRC 5 month XNHR005 545.00 0.00CME Globex US Midwest domestic HRC 6 month XNHR006 537.00 0.00CME Globex US Midwest domestic HRC 7 month XNHR007 529.00 0.00CME Globex US Midwest domestic HRC 8 month XNHR008 526.00 0.00CME Globex US Midwest domestic HRC 9 month XNHR009 524.00 0.00CME Globex US Midwest domestic HRC 10 month XNHR010 523.00 0.00CME Globex US Midwest domestic HRC 11 month XNHR011 522.00 0.00CME Globex US Midwest domestic HRC 12 month XNHR012 521.00 0.00

steel inDUstRy DAtA Platts symbol ('000 mt) Changemonthly crude steel production (may)

World (66 reporting countries) IISIA03 139153.89 +4346.30Asia IISIC03 95611.55 +2085.71Europe EU IISIE03 13123.62 -1180.97Europe Other IISII03 3305.36 +191.54CIS IISID03 8904.00 +143.00North America IISIG03 9590.00 +318.93South America IISIJ03 3301.94 +333.73Africa/Middle East IISIK03 3201.70 +111.26Oceania IISIH03 436.19 +18.77

Source: World Steel Association

American iron and steel institute data

AISI raw steel US production weekly (tons) AISII04 1737000.00 -20000.00AISI raw steel US capability utilization weekly (%) AISIH04 74.30 -0.80

1.6

1.7

1.8

02-Jul25-Jun18-Jun11-Jun04-Jun28-May

AISI US RAW STEEL PRODUCTION(million st)

72

73

74

75

76

77

02-Jul25-Jun18-Jun11-Jun04-Jun28-May

AISI % US CAPABILITY UTILIZATION(%)




tRADe CAse stAtUs RePoRt

Complainant Duties Product(s) Origins(s) Status/comments

north America

US AD HRC Brazil, Australia, Japan, South Korea, Netherlands, Turkey, UK Preliminary AD duties of 4-7% for South Korea, Netherlands 5%, Turkey 5-7%, Japan 7-11%, Australia 23%, Brazil 34% and UK 49%

US CVD HRC Brazil, Korea, Turkey No prelim CVD margins for Korean and Turkish mills; Brazil hit with preliminary CVD of 7.42%, final determinations in May

US AD CRC Brazil, China, India, South Korea, Russia, Japan, UK Final AD duties of 265.79% for China and 71.35% for Japan. Others await final ruling. Preliminary AD duties for Brazil of 20.84-35.43%, UK 5.79-31.39%, Korea 2.17-6.85%, India 6.78% and Russia 12.62-16.89%

US CVD CRC Brazil, China, India, Korea and Russia Brazilian producers hit with 7.42% subsidy rate; China 227.29%; India 4.45%; Russia (except Severstal) 6.33%; negative for S. Korea

US AD Rebar Turkey Commerce published a draft redetermination that found a de minimis weighted average dumping margin for Habas and a 3.64% margin for Icdas and all other Turkish producers and exporters

US AD, CVD Cut-to-length plate Austria, Belgium, Brazil, China, France, Germany, Italy, US International Trade Commission finds reasonable indication that US mills were injured by the 12 countries Japan, South Korea, South Africa, Taiwan and Turkey, Brazil, China and South Korea

US AD Corrosion-resistant sheet China, India, Italy, South Korea, Taiwan Final AD duties of 209.97% for China; India 3.05-4.44%, Italy 12.63-92.12%, Korea 8.75-47.8% and Taiwan 3.77%

US CVD Corrosion-resistant sheet China, India, Italy, South Korea, Taiwan Final CVD margins of 39.05-241.07% for China; 8-29.46% for India; de minimis to 38.51% for Italy; de minimis to 1.19% for Korea and zero for Taiwan

US CVD Structural tube Turkey Prelim CVD margins of 1.35-7.69% imposed; final ruling in May

US AD Structural tube South Korea, Mexico, Turkey Provisional dumping duties of 2.53-3.81% for Korean mills, 3.99-16.31% for Mexican, 14.48% for Turkish

US AD, CVD Welded stainless pressure pipe India Preliminary AD margins for all but one producer at 1.91-18.9%

US AD, CVD Circular welded Oman, Pakistan, United Arab Emirates, Vietnam Preliminary AD margins of 11.8% for Pakistan, Oman 7.86%, carbon-quality steel pipe UAE 6.1-9.25% and Vietnam 0-113.18%

US CVD Seamless pipe China Duties extended for further five years. US Dept of Commerce said early February that net subsidies of 13.66-56.67% would continue or recur if duties were terminated

US AD, CVD Stainless sheet and strip China Preliminary determination postponed until September 9. Alleged dumping margins are 54-83%

US CVD Stainless seamless pipe India Preliminary CVD duties of 2.96-6.21% applied to welded stainless pressure pipe suppliers

US AD Wire rod Mexico Commerce cuts dumping margin for Deacero to 1.54% and ArcelorMittal to 2.59%

Canada AD, CVD Hot rolled plate India, Russia Countries found not to have dumped in January announcement


Mexico AD HRC, CRC, slab, Brazil and other exporters Local steelmakers preparing case plate & wire rod


Mexico AD Ferromanganese South Korea Case launched in January


Mexico AD Plate Russia Review of existing 29.3% AD duty

south America (Provisional duties extended for two months in February)

Colombia AD Wire rod China Imposition of a 38.9% duty for at least the next six months

Chile AD Wire rod All countries (China major importer) except Canada, Investigation begun in December Mexico, Peru and developing countries that account for no more than 3% of Chile’s rod imports

Chile AD Wire Unspecified countries Chile’s Anti-Price Distortion Commission, or CNDP, recommended a provisional duty of 13.1% for an initial period of four months

Chile AD Rebar Mexico Duties imposed for three years from April 2015

Peru AD Tubes China Duties extended to chrome-added heavy plate in August




south America (Provisional duties extended for two months in February)

Brazil AD Heavy plate (chrome added) China Investigation launched in December

Brazil AD HR bars China Case started in January, no timeframe disclosed

Brazil AD Rebar Turkey Provisional duties ranging from $810.46-1,151.76/mt valid for six month from February

Brazil AD Seamless pipes China

europe & turkey (EC opened investigation in February)

EU AD HR flats, HR plate China EC petitioned to launch investigation and seamless tubes

EU AD HRC Brazil, Iran, Russia, Serbia, Turkey and Ukraine European mills send petition to European Commission

EU AD Rebar Belarus EU imposed AD duties of 13.8-16% for Chinese producers and 19.8-26% for Russian producers with duties retroactive to mid-December

EU AD Rebar China, Belarus Definitive duties of 18.4%-22.5% on Chinese rebar. No retroactive duties. EC opens AD case into imports from Belarus

EU AD Rebar China, Belarus EC found dumping had occurred, preparing minimum import prices

EU AD Grain-oriented electrical steel China, US, Russia, South Korea Duties imposed in August (China 24.3-25.2%, Taiwan 6.8%)

EU AD Stainless CR China, Taiwan Duties in place since 1996 extended

EU AD Butt-weld tube & pipe fittings China Definitive duties imposed in November

EU AD Silicon sheet Japan, China, Russia, South Korea, US 14.1% on Jindal Saw Ltd. but put none on Electrosteel Castings Ltd. On all other companies it has imposed a duty of 14.1%. The EC imposed countervailing duty on Electrosteel Castings Ltd of 9%, Jindal Saw Ltd. of 8.7% and all other firms 9%

EU AD, CVD Ductile cast iron pipe imports India Provisional duties removed after petitioners withdrew their appeal


Turkey AD PPGI China final dumping duties of 23.4%

Turkey AD HRC China, Russia, Japan, Slovakia, France, Ukraine, Romania Provisional duties removed after petitioners withdrew their appeal

Turkey AD Seamless pipe China Preliminary dumping margin of 30.01%

Turkey AD PPGI China Final dumping margin determined at 23.4%

Africa & middle east (Duty in effect since 2013 is dirham 0.55/kilogram. Tonnage allowed in duty-free rises by 10% per year)

Morocco Safeguard duties Rebar, wire rod All imports, duties extended by three years from December Duty rates are 22% for 2015, 20% for 2016, 18% for 2017 and 16% for 2018

Morocco Safeguard duties CRC, coated sheet All imports, duties extended by four years from December Tariff of 8%

Egypt Safeguard duties Rebar All imports for three years from May 2015 Duties raised from 10-15% in March

Iran Import duties Flats (except HRC 2mm), China, Russia, Turkey longs and billet

Asia (Investigation set to begin)

South Korea AD Stainless steel plate Japan Application for three year extension of 13.17% duty

Thailand AD HR sheet, tubes, pipes Brazil, Turkey, Iran Investigation set to begin

Thailand AD Tubes, pipes China, South Korea Review of current duties (5-34%) to start

Thailand AD Wire rod China AD penalities maintained in May this year

Thailand AD HRC 14 countries inc South Korea, Japan, India, Taiwan, Russia Investigation announced on February 4. Sahaviriya Steel Industries alleges a dumping margin of 22.11%

Thailand AD Pickled and oiled HRC South Korea Case dropped in January

tRADe CAse stAtUs RePoRt (continued)





tRADe CAse stAtUs RePoRt (continued)


Malaysia Safeguard duties HRC Importers Duties of 6.3-12.9% imposed in February

Malaysia AD HRC China Final duties of 3.78-23.78% for China, 3.78-21.64% South Korea and 3.06-13.68% Vietnam

Malaysia AD CRC China, South Korea, Vietnam Safeguard duties extended for further three years in July

Malaysia Safeguard duties HR plate Importers 5% import tariff reinstated in June

Asia (Investigation set to begin)

Malaysia Import duties Rebar, wire rod Importers Duties of 00.6% to 52.10% (all Chinese exporters) imposed in January

Malaysia AD Color coated coil China, Vietnam Duties imposed in September 2014

Vietnam AD CR plate China, Taiwan, Indonesia, Malaysia Jakarta close to raising import duties

Indonesia Import duties HRC, CRC, galv, wire rod Most favored nations’ inc India, South Korea, Provisional AD duties of 39-45.7% for Japan, 14.5-29.5% for South Korea and 46.3% for EU mills Japan, CIS, Latin America

China AD Grain-oriented electrical steel EU, South Korea and Japan Opened a new investigation with a provisional duty expected by June 15

India AD HR coil sheets and plates China, Japan, South Korea, Russia, Brazil and Indonesia Duties raised to 20% for 200 days from September 2015

India Safeguard duties HRC Duties extended for further five years until 2020. Investigation into claims exporters are circumventing duties

India AD Stainless CR South Korea, Taiwan, Thailand, South Africa, US Unfair trade investigation opened into Jan-Dec 2015 period

India AD Alloy and non-alloy color- China, EU The period of investigation is July-December 2015. coated/pre-painted flats

India Minimum import price 173 products, inc HRC, All importers India has pushed the response deadline for it HRC & CRC AD investigations to June 20 CRC, plate, galv and semis

India AD HRC, CRC all importers Preliminary duties of 8-19% imposed on January 13, final ruling by June 13

Pakistan AD CRC China, Ukraine Investigation launched in October, preliminary determination by mid-April

Pakistan AD Wire rod China Duty maintained at 15%

Pakistan AD Billet China

Australia (Investigation launched in December)

Australia AD Structural sections UAE, India Preliminary dumping duties of 5-24% imposed ahead of final ruling in March, CVD probe to start

Australia AD, CVD Rebar China Final AD duty on Hunan Valin Xiangtan Iron & Steel of 44.1%, Shagang rod 37.4%, and all other Chinese exporters 53.1%

Australia AD Wire rod China Dumping duties of up to 14.3% imposed on the four countries in November

Australia AD Rebar South Korea, Singapore, Spain, Taiwan Invesigation initiated in November

Australia AD Chrome-plated bar Italy, Romania Duties of 5.7-29.7% imposed in August; probe into India and UAE announced in December

Australia AD Hollow structural sections Thailand, India, UAE Duties of 10.1% on Indonesian exporters and 2.7% on Taiwanese exporters imposed in June

Australia AD Wire rod Indonesia, Taiwan (Turkey exempted) Duties imposed in November 2014

Australia AD Quenched & tempered plate Sweden, Finland, Japan Dumping duties imposed in 2012 continued (China also subject to CVD duties)

Australia AD ERW pipes China, South Korea, Malaysia and Taiwan

Source: Compiled by Platts, updated weekly

Please note: All Platts and TSI CIF and CFR prices (US, Europe, Southern Europe, Persian Gulf and Turkey) represent freely traded values. This means they do not reflect any restrictions or duties as a result of trade cases. For detailed specifics, The Platts Weekly Trade Case Status report can be found on pages 11-13 of this issue.




Platts singapore office closed July 6The S&P Global Platts Singapore office will be closed for the

Hari Raya Puasa holiday on Wednesday, July 6, 2016. Any steel

product price assessments done from the Singapore office will

not be published on that day. Normal publishing will resume

on July 7. For full details of Platts’ publishing schedule and

services affected, refer to http://www.platts.com/HolidayHome.

For queries, please contact [email protected]

Platts discontinues existing steel mill economics global spreads, replaces seriesFollowing a period of industry consultation, Platts has discon-

tinued its existing suite of Steel Mill Economics Global Spreads

from March 31, 2016. Platts replaces the series with several new

additions and changes. (See details below)■■ The move follows market interest for exchange-focused

tradeable spreads and tracking export-oriented margins. Platts

plans to also publish spreads from Minerals Value Service (MVS).■■ The link below has an attachment for all of the affected

symbols:■■ http://www.platts.com/IM.Platts.Content/

MethodologyReferences/NewDiscontinued■■ Codes/Codes/steel-mill-economics-global-spreads-

discontinuations-list.xls■■ Short URL: http://plts.co/VA2lg

The assessments were published in Platts Metals Alert, Platts

SBB-Steel Market Daily, Platts Steel Price Report, World Steel

Review, and Platts Raw Materials Monthly. The data is also

available in Platts Markets Data.

Platts mVs steel mill economics China spreadsPlatts has decided to start publishing Platts MVS Steel Mill

Economics China Mill Margins following a period of industry

feedback. These will be launched as new assessments starting

May 3, 2016. This follows a subscriber note on this subject pub-

lished February 9, 2016.■■ Platts MVS Steel Mill Economics China Mill Margins will track

spreads between domestic prices of flat and long steel

products against the cost of raw materials.■■ Platts MVS is a provider of analytics on the steel and steel

raw materials markets.■■ Platts proposes to publish daily two industry-focused

spreads using Platts MVS's industry models and research,

incorporating Platts price assessments for steel, iron ore

products, coking coal and PCI.■■ Platts will review the methodology for the new Platts MVS

assessments against industry developments on an ongoing

basis.■■ The Platts MVS data will be published alongside new spreads

in the Global Steel Mill Economics series.■■ Platts MVS will release all of the products used to calculate

the margins and implied weightings, with the models

available for review and adaptation to registered users.■■ The Platts MVS Steel Mill Economics China Mill Margins

assessments will be published in various Platts publications.■■ The data will also be also available in Platts Markets Data.■■ Please provide any further feedback to: Hector Forster, at

[email protected] and Platts price group at

[email protected]. For written comments,

please provide a clear indication if comments are not

intended for publication by Platts for public viewing. Platts

will consider all comments received and will make comments

not marked as confidential available on request.

steel pricing and trade case status informationAll Platts and TSI CIF and CFR steel price assessments (US,

Europe, Southern Europe, Persian Gulf and Turkey) represent free-

ly traded values. This means they do not reflect any restrictions or

duties as a result of trade cases. To provide readers with greater

transparency and the latest information, The Platts Weekly Trade

Case Status report can be found on pages 11-13 of this issue.

sUBsCRiBeR notes

sUBsCRiBeR notePlatts announces future im communication plansIn support of Platts communication processes around the Market on Close and eWindow environments and in light of the announced discontinuation of the legacy Yahoo! instant messenger application, Platts will begin to use the ICE Instant Messenger tool for communication within the oil, petrochemical, RIN, biofuel markets and other adjacent spaces as needed. Additionally, Platts will support the web versions of Skype and the enterprise level Skype for Business for communication across any market, including those listed above. Platts remains open to accepting messages from existing IM channels as well as phone and email where these mechanisms have been adopted by the markets. Details of how to contact Platts using the ICE and Skype messaging systems will be made available soon. After the 5th of August Platts will be launching a further consultation period across all the commodity sectors to discuss and refine which solutions are most suitable for use.

For comments or questions please contact [email protected]


Documents

SBB STEEL MARKETS DAILY - Shardoo · 7/6/2016 · SBB STEEL MARKETS DAILY Volume 10 / Issue 131 / July 6, 2016 Chief Content Officer Martin Fraenkel Platts President Imogen Joss