ThyssenKrupp seeks an extension from EC on Tata Steel merger dialogues

21 March 2019 ThyssenKrupp seeks an extension from EC on Tata Steel merger dialogues (Europe): ThyssenKrupp applied for an extension of eight working days to finalise the ongoing negotiations with European Commission regarding planned merger with Tata Steel. The merger plan is under EC investigation since October 2018. CMI will supply an annealing plant to

ArcelorMittal is ready to take over Essar Steel

11 March 2019 ArcelorMittal is ready to take over Essar Steel (Asia Pacific): ArcelorMittal is ready to take over Essar Steel as Indian bankruptcy court National Company Law Tribunal (NCLT) has approved. Essar Steel has 10 million tonnes capacity which would eventually go to ArcelorMittal if all goes accordingly. Iranian steel exports declined by 51%

ArcelorMittal to halt iron ore production in Bosnia

4 March 2019 ArcelorMittal Bosnia to halt iron ore mining in Bosnia (Europe): ArcelorMittal would stop iron ore production at Bosnian mines following the failure of transportation deal with a local railway. It also operates a steel plant in Bosnia, steel production there will not be immediately affected after the iron ore output halt. India

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

Section 232 helps US crude steel production

29th January 2019 Latest Steel Market News Section 232 helps US crude steel production (North America): The US crude steel production up by 6.2% year-on-year in 2018, which was also well above the global growth rate of 4.6%. Restraints on steel imports have been prompting capacity restarts and expansions since section 232 imposed.   Tata

Chinese stainless steel production increased by 3.62% in 2018

28 January 2019 Latest Steel Market News Chinese stainless steel production increased by 3.62% in 2018 (Asia-Pacific): Crude stainless steel production in China reached 26.71 million tonnes in 2018, an increase of 3.62% from 2017, according to the Stainless Steel Council of China Special Steel Enterprises Association (CSSC). The output of four stainless steel products,

Harsco inks a multiyear contract with HBIS

25 January 2019 Latest Steel Market News SBI postpones the auction of Essar loans (Asia Pacific): State Bank of India deferred auction of Essar’s loans till 11th February 2019 due to the poor interest from investors. Previously, SBI declared ArcelorMittal, the highest bidder in the sale.   Harsco inks a multiyear contract with HBIS (Asia

ThyssenKrupp plans to shift to hydrogen-based steel production

24 January 2019 Latest Steel Market News ThyssenKrupp plans to shift to hydrogen-based steel production (Europe): ThyssenKrupp has announced a plan to shift its steel production process from coal to hydrogen by 2050, aiming to reduce emissions. The company would invest $22.7 billion to accomplish this goal in the next 30 years. Steel production accounts

UAE increased import duties on long products

22 January 2019 Latest Steel Market News Tenaris acquires substantial stakes in Saudi Steel Pipe Company (Middle East): Tenaris S.A completed its acquisition of 47.79% share in Saudi Steel Pipe Company (SSP), a welded steel pipe manufacturer located in Saudi Arabia. SSP has a production capacity of 360k tonnes/year.   NASSCO opens an automated steel

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