ArcelorMittal is ready to take over Essar Steel

11 March 2019

ArcelorMittal is ready to take over Essar Steel

(Asia Pacific): ArcelorMittal is ready to take over Essar Steel as Indian bankruptcy court National Company Law Tribunal (NCLT) has approved. Essar Steel has 10 million tonnes capacity which would eventually go to ArcelorMittal if all goes accordingly.

Iranian steel exports declined by 51% in one month

(Middle East): Iran exported 373k tonnes of steel during the 11thth month of the Iranian Islamic calendar (21 January to 19 February), declined by 51% year-on-year. It exported 5.08 million tonnes of steel during 11 months of the Iranian Islamic calendar till 19th of February, according to Iranian Mines and Mining Industries Development and Renovation Organization.

Auto sales in China declined by 13.8% in February

(Asia Pacific): Chinese sales of automobiles fell 13.8% during February year-on-year, according to the China Association of Automobile Manufacturers (CAAM). The sales reached 1.48 million units in February after declining for eight successive months.

GM automotive plant closed in Ohio  US

(North America): General Motors (GM) closed its plants in Ohio, US on Friday. The plant is the first out of five planned to shut down in 2019 by the company. The closure of the automotive plant is part of restructuring the company’s manufacturing strategy.

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