1 February 2019

Latest Steel Market News

Jindal Stainless to recycle stainless scrap with Cosmos Green

(South Asia): The Indian stainless steel giant, Jindal Stainless plans to recycle scrap metal in collaboration with Cosmos Green, a UAE-based metal recycling company. The partnership is expected to recycle a significant amount of scrap in the coming years.

 

China installs reactor internals in Pakistan

(Asia Pacific): China National Nuclear Corporation installed reactor internals in the reactor pressure vessel at the Karachi nuclear power plant, in Pakistan. China Nuclear Power Research and Design Institute did the design part while it was manufactured by Shanghai No.1 Machine Tool Plant. The interior structure of the reactor is made of stainless steel.

 

Delongs plans to buy bankrupt Bohai Steel

(Asia Pacific): Creditors of debt-ridden Chinese steelmaker Bohai Steel Group Co. approved a plan which would allow Delong Holding Limited to buy some assets of the plant.

 

UAE doubles import duty on rebar and wire rod

(Middle East): UAE increased import duties on rebar and wire rod form 5% to 10% aimed to protect its curtail steel dumping in its domestic market. The duties remained effective for one year from 1^st January 2019.

 

Trump signs executive order to further support the domestic steel industry

(North America): The US president Donald Trump signed another executive order to encourage the use of US-made steel in infrastructure projects through “ Buy America” policy. The new order directed heads of federal agencies to prioritise the use of steel and other materials produced in the US.