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Steep increase in steel prices

Steep increase in steel prices

Steep increase in steel prices

(OP)
We have seen a steep increase in prices of steel scrap of 60%(now 750$/ton) in India during the last 20 days. Also cost of ferro alloys has shot up. HCFerromanganese costs now 3000$/ton and HCFerroChrome costs 2800$/ton,LC Ferro Chrome costs 6500$/ton. This has brought steel foundries and forging units to a complete halt. I would like to know from others the situation in their countries and any other information they might like to share.

Thanks in anticipation.

Chocolates,men,coffee: are somethings liked better rich!!
(noticed in a coffee shop)

RE: Steep increase in steel prices

arunmrao,

As a US-based heat treater that requires furnace alloy, and as a user of forgings and bar stock, I've noticed a jump in nickel prices over the past month, back up to $15 at one point, but still much lower than the $25 spike from last June. We use more alloy than carbon steel, and I've noticed some warehouse bar increases as well. I will pass this info on to our steel buyers as we do source worldwide.

RE: Steep increase in steel prices

Arun,

I believe at them moment India is harder hit with price increases than the world in general.

Here is a news item from Forge e-weekly, a supplement of Industrial Heating:

Indian Forge Industry Threatens to Approach MRTPC
 
Affected by rising steel prices, the Indian forge industry has asked steelmakers to price their product rationally. The industry has threatened to approach the anti-monopoly Monopolies and Restrictive Trade Practices Commission (MRTPC) if steelmakers fail to do so.

According to Vidyashankar Krishnan, president of the Association of Indian Forging Industry, steel price increases during the past four months have hit forgers hard. "If this continues, we will have to approach MRTPC commission for redress against steelmakers," he said.

According to Krishnan, steel prices in the country have shot up 33%, which has had a crippling effect on the forge industry. He said the government will have to either ban steel exports or levy export duty besides either stopping exports or iron ore or levying duty on export of the mineral.

Regards,

Cory

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RE: Steep increase in steel prices

(OP)
Thanks Corypad,this reference material is circulating fast. I had my friends from Bodycote sending me the same. The irony is that in India,the Southern region has been hit hard,while the Northern region is unaffected. Baffles me.

Last week I lost an order of about 20 tons to American barge manufacturing company. China price was 17.85USd delivered Chicago,while mine was 27.25USD ex Bangalore. Can you believe my conversion cost is just about 1USD/kilo,but I was not competetive. Perhaps democracy is expensive and no one is willing to bear the cost.

Chocolates,men,coffee: are somethings liked better rich!!
(noticed in a coffee shop)

RE: Steep increase in steel prices

arun,

I have not the current prices in Europe but i can bring you the informations  if you want if you have any specials requests :

In Europe the EURO rate : 1 € / 1.55 $ becomes a big problem for the competitiveness of the europeans foundries !!!!




RE: Steep increase in steel prices

(OP)
Thanks stanislasdz,Any information you can provide regarding price of steel casting,stainless steel casting,steel scrap or ferroalloys will be helpful. In Europe I tried selling heat resistant castings to Germany. But as always I got beaten by the turks. The prices offered were unbelievable.

You can also contact me directly kasc@satyam.net.in

Chocolates,men,coffee: are somethings liked better rich!!
(noticed in a coffee shop)

RE: Steep increase in steel prices

Maybe being tied to US dollar is an underlying problem, like the oil industry. Is it the value of the oil going up, or the value of the dollar going down?

Russell Giuliano
 

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