25 January 2019

Latest Steel Market News

SBI postpones the auction of Essar loans

(Asia Pacific): State Bank of India deferred auction of Essar’s loans till 11th February 2019 due to the poor interest from investors. Previously, SBI declared ArcelorMittal, the highest bidder in the sale.

 

Harsco inks a multiyear contract with HBIS

(Asia Pacific): Harsco Corporation signed a $247 million contract with a Chinese steel company, HBIS, to provide mill services including sulphur control, ladle slag processing, scrap cutting, slag transport and metal recovery, and under furnace cleaning for the next 15 years.

 

ECHR urges Italy to act on ILVA’s emissions

(Europe): The European Court of Human Rights asked Italy to protect its citizens from poisoning ILVAsteel plant. The new owner of ILVA, ArcelorMittal, said that it would invest €1.1 billion to curb pollution by 2023. However, the court called the plan “extremely slow”.

 

Mechel introduces its online store

(Europe): The increasing trend of online services in the steel industry has also attracted a major Russian metal and mining company, Mechel, to introduce an online steel trade store to market its products including stainless steel rolls.

 

Universal Stainless increases low alloy bar prices

(North America): Universal Stainless and Alloy Products (USAP), a semi-finished and finished stainless steel producer, has increased the prices for low alloy VAR bar products by 5-10%. The prices will be effective from 28th January 2019. Based in Pennsylvania, USAP produces several products including stainless steel.