Ford announces to close its production in Brazil

21 February 2019 Latest Steel Market News India prolongs exemption on some imported steel grades (Asia Pacific): India announced to extend exemption on the import duty for some auto grade steel till 17 April 2019. The new tougher import rules were previously allowed to set by 17 February 2019 but expected a negative impact on

The US DoC submits auto tariff investigation report to the President

18 February 2019 Latest Steel Market News Iran’s DRI production exceeds  21 million tonnes (Middle East): Direct reduced iron (DRI) production in Iran reached in total over 21 million tonnes in ten months for the period 21 March 2018 to 21 January 2019. The period is based on the Iranian Islamic calendar. The output increased 27% from the same period of the previous year.   The US DoC submits auto

The US’s Cives starts construction of steel fabrication facility

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.

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

Trump signs executive order to further support the domestic steel industry

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 plans to slash 20 million tonnes of steel capacity in 2019

30 January 2019 Latest Steel Market News SpaceX plans to build a stainless steel rocket (North America): SpaceX, a private American aerospace manufacturer based in California, plans to build a rocket ship which would be made of stainless steel substituting the more expensive carbon fibre composites. The rocket is expected to endure 1500 degrees Fahrenheit

Canada to impose tariffs on Vietnamese welded steel pipes

23 January 2019 Latest Steel Market News CoolSys acquires Arjae HVAC and Mechanical Services  (North America): California-based refrigeration and HVAC services company, CoolSys has acquired Arjae HVAC and Mechanical Services. Both companies specialise in HVAC installation, installation and services. Arjae also fabricates stainless steel besides other metals.   The European Union imposes 25% definitive safeguard duty on stainless steel imports (Europe): The

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