JPM Steel | Daily Despatch: Nucor holds HRC price at $1,130/st; DDR4 price +9%; Toyota to build $3.6b Texas plant

Research evidence excerpt

JPM Steel | Daily Despatch: Nucor holds HRC price at $1,130/st; DDR4 price +9%; Toyota to build $3.6b Texas plant

ersupply of the market envisaged under Labor’s gas reservation scheme. The talks, which include

some overseas investors in Australia’s LNG export industry, may consider proposals such as a levy on the gas industry that

could be used to subsidise buyers of energy, according to gas industry sources. Source: AFR

• US steelmaking capacity utilization inched up to 80.4% week ended July 4: AISI: US raw steel mill utilization rose to

80.4% in the week ended July 4 from 79.8% the previous week. Production during the week totaled 1.856 million st, up 0.8%

WoW and 4.3% YoY. Adjusted YTD production through July 4 totaled 48.112 million st, with a capacity utilization rate of

78.8%, up 6.0% vs. the pcp, when the utilization rate was 76.8%. Source: Platts

• Plans underway to restart Australia’s Bowen Coking Coal operations: Plans are progressing to restart Bowen Coking

Coal’s metallurgical coal operations in Queensland, following the company’s acquisition by Argo Natural Resources. Argo

confirmed to Platts in the email that Argo Bowen 2 Pty Ltd had completed the acquisition of Bowen Coking Coal, with an

immediate focus on integrating the assets into Argo’s existing operations. Source: Platts

• Turkish steel producers cut scrap purchase prices amid weak demand: Turkey’s major steel producers announced

purchase price cuts July 6 in line with the decline in imported scrap prices amid a weak finished product market. Platts

assessed Turkish imports of premium HMS 1/2 (80:20) at $375/mt CFR on July 3, down $5/mt from the previous day. Despite

a fall in domestic and imported scrap costs, Turkish mills have been trying to keep prices stable in recent days, following