7 February 2019

Latest Steel Market News

Sooner acquires OCTG supplier CTAP

(North America): Marubeni-Itochu Steel Group’s subsidiary Sooner Inc. has signed an agreement to purchase 100% share in OCTG supplier company CTAP, LLC. The deal will allow Sooner to acquire all 11 CATP service centres in the US.

Schmolz + Bickenbach opens service facility in Argentina

(Central and South America): Schmolz + Bickenbach expanded its footprint in South America with a new sale and service centre facility in Argentina for supplying long steel products. The company also has similar facilities in Brazil, Chile, and Colombia.

 

India’s Dalmia OCL buys GSB Group

(Europe): A leading Indian refractories producer Dalmia OCL announced its acquisition of German-based speciality refractory maker GSB Group Gmbh. The acquisition will lead the company to produce specialised refractories for cleaner steel production.

 

Tata Steel improves sustainability at Port Talbot

(Europe): Tata Steel has pledged for new extraction system to cut dust emissions at its Port Talbot plant as it has come under criticism due to its pollution. The project would take nine months to complete.

 

Nickel prices rise after the dam collapse

(Central and South America): The expected disruptions in nickel supply from Vale has sent LME nickel prices to a four-month high at around $13,350/ tonne as a Brazilian court ordered to stop production at Vale’s iron ore mine after the collapse of a dam. Vale is the largest producer of nickel, a metal used as an alloying element in stainless steel.