SLOW STEEL DEMAND CAUSES IRON ORE FUTURES TO SLIP On Tuesday, Asian benchmark iron ore futures fell as traders worried that high prices would squeeze steel mill profits after Chinese demand for the steelmaking material sparked an earlier gain. After ...
SPAIN STEEL COMPANY IN MERGER TALKS WITH DUTCH FIRM Spain's Acerinox and Dutch company Aperam are in preliminary talks about a possible merger, they said, a move that could create a global leader in stainless steel and Europe's biggest producer. Analys...
TO RESOLVE THE BRIBERY PROBE, A US STEEL MANUFACTURER WILL PAY USD 78 MILLION. Tenaris SA, a worldwide steel pipe maker, has agreed to pay USD 78.1 million to settle US investigations into allegations that it paid bribes to gain business from Brazil's state-owned oil major Petro...
DEMAND FOR STEEL IN THAILAND IS LIKELY TO INCREASE THIS YEAR. Despite supply disruptions caused by the armed war in Ukraine and the global economic downturn, the Federation of Thai Industries (FTI) expects local steel demand to rise this year. According to the W...
STEEL PRICES HAVE REMAINED CONSTANT FOR SEVERAL WEEKS. **For some weeks, HRC prices have remained constant.** Since a drop in mid-May 2022, European HRC prices have been moving virtually continuously sideways for the past two weeks. The same can be said a...
A STEEL PIPE MANUFACTURER HAS AGREED TO PAY $78.1 MILLION TO SETTLE BRIBERY CHARGES IN THE UNITED STATES. Tenaris SA (TENR.MI), a global steel pipe manufacturer, announced on Thursday that it will pay $78.1 million to settle US investigations into allegations that it paid bribes to gain business from Braz...
ASIAN CORE METALS ARE USUALLY HIGHER Today, the bulk of Asian base metal futures are on the rise. The market has benefited by the restoration of activity and manufacturing in Shanghai with the lifting of the Corona blockade. SHFE nickel...
INDIA: HRC PRICES MAY SOON CONTINUE TO DECLINE Prices for domestic HRC steel, which have dropped by about INR 10,000 (USD 128) per ton over the past month, might drop even more soon. Since the announcement of the application of an export levy on s...
ITALIAN PLANTMAKER ANNOUNCES €200 MILLION INVESTMENT IN GREEN STEEL Danieli announced that its steelmaking division Acciaierie Bertoli Safau, in collaboration with its Croatian subsidiary ABS Sisak, will spend €200 million in green steel manufacturing in Croatia. The ...
STEEL IS SUBJECT TO AN EXPORT TAX IN INDIA In an effort to boost domestic steel availability and control steel prices, India's government has imposed a 15% export levy on a variety of finished steel products, which accounted for about 95% of I...
CRUDE STEEL PRODUCTION FELL 5% **China ** In April, China's steel consumption decreased. Lockdowns imposed to control the newest Covid-19 outbreak are still causing problems in the country. Following this, several financial busines...
STEEL PRICES ARE BEING DRAGGED DOWN BY A SLOWDOWN IN THE GLOBAL CAR SECTOR The global semiconductor scarcity is causing automakers all over the world to cut back on manufacturing. China's already tight supply chains are being hampered by new and ongoing Covid-related lockdow...
