12 February 2019

Latest Steel Market News

South Korean vehicle production dived three years low in 2018

(Asia Pacific): Automotive production in South Korea decreased for the third successive year in 2018. The country’s vehicle production reached three low to 4.03 million units last year, down by 2.1% year-on-year.

 

ŠKODA AUTO starts production of new compact cars

(Europe): Czech-based ŠKODA AUTO has started production of its new compact cars ŠKODA SCALA. The new car model is based on Volkswagen Group’s MQB-A0 platform.

 

The UK to spend £35 million on steel research to improve sustainability

(Europe): The UK has announced a £35 million research investment aimed at eliminating carbon emissions in the iron and steel industry by 2040. Swansea, Sheffield and Warwick universities will collaborate with the steel industry on the sustainable program.

 

US Steel announces to resume construction of EAF

(North America): United States Steel Corporation has announced to restart construction of its steel production facility at Tubular. The construction work on the electric arc furnace started in March 2015 but suspended after nine months due to subdued market conditions at that time.

 

Indian crude steel production fell in January

(Asia Pacific): Crude steel production in India reached 8.9 million tonnes in January 2019 down by 3.8% year-on-year and decreased by 0.2% compared to December 2018.

 

Paul Mueller introduces a new all-stainless On-Farm milk storage

(North America): A Missouri-based stainless steel processing equipment and services company, Paul Mueller, has introduced all-stainless steel dairy silo to prevent rusting of the equipment. The company is increasing its presence in the market in the wake of growing demand on-farm milk storage and tightening supply.