14 February 2019

Latest Steel Market News

US Steel shipments increased by 4.8% in 2018

(North America): The US steel shipments of finished and semi-finished products increased by 4.8% in 2018, American Iron and Steel Institute (AISI) reported. Steel companies sold 95.27 million tonnes of steel in 2018 compared to 90.88 million tonnes in 2017.

 

Chinese steel exports surged 33.3% in January 2019

(Asia Pacific): Chinese steel exports increased by 33.3% year-on-year to 6.2 million tonnes in January 2019. Exports also grew by 632,000 tonnes month-on-month from December 2018.

 

The US’s Cives starts construction of steel fabrication facility

(North America): Cives Corporation, a US-based steel structure fabrication company started construction of its new production facility in El Mirage, Arizona, US. The company will hire 50 workers for the 56,000-square-foot plant at the initial production stage and later hire an additional 150 employees.

 

Iran’s ten months semi-finished steel production reached 16 million tonnes

(Middle East): Iran semi-finished steel production reached 16 million tonnes from March 2018 to January 2019. Meanwhile, the country’s iron ore concentration reached 38.16 million tonnes, up by 21% from the same period in 2017. Iranian slab prices also plummeted due to the US restrictions on trading with Iranians companies.

India participated in Canadian steel tariffs inquiry

(Asia Pacific): Canada has imposed provisional safeguard duties in the form of Tariff Rate Quota on the imports of seven steel products including stainless steel wires. An official delegation from India has visited Canada to take part in the enquiry on the duty imposition. The report with recommendations by the panel is expected to be released at the start of 3rd April this year.