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

US steel mills output down week-on-week

20 February 2019 Latest Steel Market News NSSMC ramps up crude steel production (Asia Pacific): Japan’s Nippon Steel & Sumitomo Metal Corporation is ramping up of crude steel production at its Wakayama Works with recently started new blast furnace No.2. The new blast furnace is to add 500k tonnes/year capacity of crude steel to the

US imposes tariffs on imports of trailer wheels from China

19 February 2019 Latest Steel Market News US imposes tariffs on imports of trailer wheels from China (North America): The US Department of Commerce (DOC) has imposed preliminary import duties from 58.3% to 293.27% on the Chinese steel trailer wheels. The investigation for the duties initiated on the request of Dexstar Wheel Co. in August

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.

Indonesia expects $900 million investment in the automotive industry

13 February 2019 Latest Steel Market News Indonesia expects $900 million investment in the automotive industry (Asia Pacific): Indonesian Industry Ministry reveals that numerous investors committed to investing around $900 million in the country’s automotive sector. It is expected that half of their products will be exported, while the remaining half would be sold in the

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

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