Ferrosilicon Daily Express 11.4

  • Monday, November 04, 2019
  • Source:ferro-alloys.com

  • Keywords:ferrosilicon, futures, spot
[Fellow]Prices for iron ore should be "quite a bit lower next year" while met coal could rise and steel pricing will moderate but not collapse.

[Ferro-Alloys.comAlthough the seaborne thermal coal market had a slight price rebound during the third quarter, US exports are expected to remain low this year, forcing more production cuts and consolidation as the domestic market remain bearish as well, analysts said this week.

Swedish steelmaker SSAB will idle another blast furnace at its Raahe steelworks in Finland from the end of November in a bid to cut costs and capacity, the company said during its earnings presentation.

After threatening to increase the US tariff on imports of Turkish steel to 50%, President Donald Trump said he had instructed the Department of the Treasury to lift all sanctions imposed on Turkey in light of a pause in the latter country's military operations in northeastern Syria -- but some saw the initial threat as hollow and of no major impact on Turkey-US steel trade flows.

Prices for iron ore should be "quite a bit lower next year" while met coal could rise and steel pricing will moderate but not collapse, Tracy Liao, research analyst, Citi, told delegates at the London Metal Exchange's ferrous focus session in London last Thursday.

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  • [Editor:kangmingfei]

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