WindEurope says imports tariffs on steel can endanger the 2030 EU renewable energy target

16 January 2019 Latest Steel Market News WindEurope says imports tariffs on steel can endanger the 2030 EU renewable energy target (Europe): The EU is going to decide in the coming few days on a proposal to restrict steel imports to the EU until 2021. WindEurope claims that it would increase the prices of wind turbines up

15 January 2019Hebei to cut 14 million tonnes of steel capacity in 2019

15 January 2019 Latest Steel Market News Hebei to cut 14 million tonnes of steel capacity in 2019 (Asia Pacific): Hebei, the largest Chinese steel-producing province, to cut 14 million tonnes/year steel production capacity in 2019. The governor of Hebei, Xu Qin, revealed the plan while presenting government work report yesterday. In 2018, the province was succeeded to cut 12.3 million tonnes per

Indian Steel industry attracts foreign investments

14 January 2019 Latest Steel Market News Indian Steel industry attracts foreign investments (Asia Pacific): Indian Steel Minister Chaudhary Birender Singh told media that Japanese and South Korean steel companies are showing interest in investing in the Indian steel industry. The news is also in circulation that Posco and Hyundai Steel are exploring investment possibilities in

China to ban new steel project expansions

10 January 2019 Latest Steel Market News China to ban new steel project expansions (Asia Pacific): China’s minister of industry and information technology, Miao Wei, told the official Xinhua agency in an interview on Thursday 10th January that its ministry will “strictly prohibit” the expansion of new iron and steel projects in 2019. Such a ban has

‘Make in India’ is going to support the steel industry but provide tough time for automakers

9 January 2019 Latest Steel Market News Tata steel production slightly increased in Q3 FY19 (Asia- Pacific): Steel production of Tata Steel production edged up in Q3 FY19 to 3.3 million tonnes compared to 3.27 million tonnes in Q3 FY18. Its sales declined to 2.97 million tonnes compared to 3.3 million tonnes during the same period.

Nucor to develop $1.35 billion steel plate mill in the US

7 January 2019 Latest Steel Market News Nucor to develop $1.35 billion steel plate mill in the US (North America): Nucor Corporation plans to invest $1.35 billion in building steel plate mill in the US Midwest. The plant is expected to produce 1.2 million tonnes/year of steel plate and will be fully operational by 2022. Nucor has

Citic further consolidates its special steel business segment

3 January 2019 Latest Telecom News Citic further consolidates its special steel business segment (Asia Pacific): Daye Special Steel Co which is 58.13% indirectly owned by Citic Ltd. signed an agreement to acquire an 86.5% stake in Xingcheng Special Steel Works Co. Ltd. for ~23.18 billion yuan. CITIC already indirectly owns 90% shares in Xingcheng Special Steel which