8 February 2019

Latest Steel Market News

India to first time use stainless steel in its railway bridge

(Asia-Pacific): Rail Vikas Nigam Limited, a Chennai-based engineering company associated with Indian Railways, has decided to use stainless steel beams as an integral component in the new Pamban bridge. The bridge is located in a highly corrosive environment, and the use of stainless steel would increase the structural life of the bridge because of its high corrosion resistant properties. It will be India’s first railway bridge to use stainless steel as a structural component.

 

Indian steel exports jumped 16.7% in 2017-2018

(Asia Pacific): India finished steel exports grew by 16.7% to 9.62 million tonnes in the Indian fiscal year 2017-2018. The exports consisted of 8.73 million carbon steel and 0.89 million tonnes of alloy and stainless steel.

 

ArcelorMittal to idle its crude steel capacity in Brazil

(Central and South America): ArcelorMittal Brazil has announced to reduce its crude steel production at its Barra Mansa plant in Rio de Janeiro. The company has planned to idle 0.8 million tonnes of primary steelmaking capacity, while the downstream facilities will be fed by semi-finished steel from other plants in Brazil.

 

Erdogan urges the US to roll back its tariffs on Turkish steel

(Europe): Turkish President Tayyip Erdogan said that he wants the US to remove tariffs on Turkish steel which has become a major hurdle for trade between the two countries. The US doubled its tariffs to 50% tariffs on Turkish steel products in August 2018.

 

Kobe Steel to increase the production capacity of powder metallurgy

(Asia Pacific): Japan’s Kobe Steel, Ltd. has announced to increase production of its powder metallurgy products from 96k tonnes to 110k tonnes with the investment of $ 16.3 million. The expansion project is expected to be completed by 2021. The company produces powder steel products for the automotive sector.