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

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

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

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

Tsingshan Holding is to set up a battery plant in India in parallel with its construction of a stainless steel plant

21 January 2019 Latest Steel Market News Tsingshan Holding is to set up a battery plant in India in parallel with its construction of a stainless steel plant (Asi-Pacific): The Chinese steelmaker and electric vehicle battery maker, Tsingshan Holding is set to build $3 billion electric battery plant in Gujarat, India in partnership with Chromeni Steel. Tsingshan Holding has already been developing a stainless plant at Gujarat, India. The stainless steel project is in partnership with

Metso to supply large scale pellet plant to Tata Steel in India

18 January 2019 Latest Steel Market News Indian steel production and consumption jumped (Asia Pacific): Steel production in India increased by 4.5% to 97 million tonnes from April to December 2018 while consumption grew by 8.4% to 71 million tonnes in the same period, according to the Indian Steel Ministry. Metso to supply large scale pellet plant to Tata Steel in India (Asia Pacific): Metso

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

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