Hebei steel capacity cuts targets are set for 2019 and 2020

7 March 2019 Hebei province sets capacity cut target for 2019 and 2020 (Asia Pacific): Hebei province, the hub of Chinese steel production, announced to cut 14 million tonnes of steel making capacity in both 2019 and 2020. Regardless of previous capacity cuts in the province, production increased 50 million tonnes since 2014 and reached

Peru longs steel industry to see capacity additions

6 March 2019 Peru long steel industry to be supported by a new billet caster from SMS (Central and South America): A Peruvian based steel producer, Corporación Aceros Arequipa S.A. (CAASA), has ordered a six strand billet caster from SMS group for its new steel mill. The plant is expected to start production by 2020

ThyssenKrupp breakup plans do not subject to Tata Steel deal

1 March 2019 ThyssenKrupp said that its breakup plan is not subject to Tata Steel deal (Europe): ThyssenKrupp said that it would continue its breakup plan even if the EU does not approve the ThyssenKrupp-Tata merger. The company said there is no problem in the feasibility of breakup plans. The EU will announce its decision

Chinese stainless steel net exports increased in January

27 February 2019 Chinese stainless steel net exports increased in January (Asia-Pacific): Chinese stainless steel net exports reached around 185k tonnes, registered an increase of 43% year-on-year. Drilling down further, Chinese stainless steel imports decreased by 41.78% and stood at 134k tonnes in January while the exports dropped 11.1% resulted in 319.5k tonnes. The Chinese

NLMK paid $160 million in tariffs

15 February 2019 Latest Energy Market News SAIL presents a divestment plan for Durgapur Alloy Steel Plant (Asia Pacific): Indian state-owned Steel Authority of India (SAIL) called for expression of interest from International and local companies for the sale of its Alloy Steel Plant located at Durgapur, West Bengal.   British Steel extends its long

Indian Steel Production declined in Jan 2019

12 February 2019 Latest Steel Market News South Korean vehicle production dived three years low in 2018 (Asia Pacific): Automotive production in South Korea decreased for the third successive year in 2018. The country’s vehicle production reached three low to 4.03 million units last year, down by 2.1% year-on-year.   ŠKODA AUTO starts production of

AISI resists Bicameral Congressional Trade Authority Act

11 February 2019 Latest Steel News Roundup AISI resists Bicameral Congressional Trade Authority Act (North America): The US steel lobby American Iron and Steel Institute (AISI) is raising its voice against legislation introduced in Congress as Bicameral Congressional Trade Authority Act 2019, which would potentially reduce President’s authority to enact tariffs by citing reasons of

Nickel prices rise after the dam collapse

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

Indian stainless steel imports from Indonesia soared in 2018-19

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

EU levies definitive safeguard duties on steel imports

4 February 2019 Latest Steel Market News Nickel Mines Limited produces its first nickel pig iron (Asia-Pacific): Australia-based Nickel Mines Limited has produced its first nickel pig iron from Hengjaya project. It owns 60% stakes in the project with Shanghai Decent which owns the remaining 40%. Nickel pig iron is a source of nickel and