6 February 2019

Latest Steel Market News

Indian stainless steel exports increased considerably in 2017-18

(Asia Pacific): Stainless steel exports of India reached 890k tonnes in 2017-18, compared to just 660k in 2016-17. The Indian government also issued quality control orders, banning the manufacturing and imports of defective and substandard stainless steel products.

 

Indian stainless steel imports from Indonesia soared in 2018-19

(Asia Pacific): The recent upsurge in the capacity of Chinese stainless steel producers in Indonesia as well as misspecification of products prompted the imports of stainless steel to India to increased approximately nine times, from almost 8,000 tonnes in 2017-18 to 67,000 tonnes in 2018-19, according to Indian Stainless Steel Development Association (ISSDA). To combat Chinese imports routed through ASEAN FTA route, the ISSDA has solicited the government to consider anti-dumping duties on the imports flat stainless steel from Indonesia.

Tenaris in a joint venture with Severstal for a welded pipe facility

(Europe): Tenaris has announced that it will create a joint venture with PAO Severstal to build an OCTG welded pipe production facility in West Siberia, Russia. Tenaris will hold 49% stakes while Severstal will own the remaining 51% in the plant. The $240 million investment project is expected to produce 300k tonnes/year welded pipes.

 

US Steel to restart welded pipe mill

(North America): United States Steel Corp. announced to restart its electric arc welded pipe mill in Lone Start, in Q3 2019. The mill has an annual capacity of approximately 400k tonnes/year and has been idled since 2016.

 

New pellet plant comes online in Iran

(Middle East): A new palletising plant called Asadabad Pelletizing Plant, started operation in Hamedan, Iran, with an investment of $31 million. The plant can produce 0.73 million tonnes/year of iron ore pellets.

 

VW to establish an assembly plant in Ethiopia

(Africa): The German car producer Volkswagen (VW) has signed a Memorandum of Understanding (MoU) with the Ethiopian government to establish its business in Ethiopia. VW will set up a vehicle assembly plant and training centre. It has signed similar MoUs under its Transform 2025+ strategy, with Ghana and Nigeria in 2018.