STEEL FROM THE UNITED KINGDOM WILL START UP A NEW SLITTING LINE AT ITS HARTLEPOOL FACTORY. At its Hartlepool Tube Mill in the North East, ata Steel announced plans to invest more than GBP 7 million (USD 8.78 million) on a new slitting line. The new slitter will allow the plant to handle ste...
AS NEW VIRAL RESTRICTIONS THREATEN DEMAND, IRON ORE FUTURES FALL On continued concerns about demand in China, where fresh COVID-19 signals threaten to derail the economy's recovery and steel margins have come under pressure, iron ore prices dipped on Friday, with t...
KOREA' STEEL DEVELOPS HIGH-QUALITY ALLOY STEEL FOR ELECTRIC VEHICLES Hyundai Steel has created a high-quality alloy steel that minimizes noise from electric vehicles, according to the company. The steelmaking technique was created in collaboration with Hyundai Motor Gr...
INDIA STEEL COMPANY TO INVEST USD 270 MILLION IN PROJECTS TO EXPAND TINPLATE AND LONG STEEL T V Narendran, Tata Steel's global CEO and MD, said that the steel giant will spend over INR 2,100 crores (USD 270 million) in two of its firms, Tinplate Company India Ltd. (TCIL) and Indian Wire and ...
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...
