Brazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed.

Brazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed. The country exported 34.27 million tonnes of the steelmaking raw…

Severstal reports Q1 2019 operational results

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in…

Turkish military to the rescue of British Steel?

An investment group owned by Turkey’s military pension fund is in last-minute talks about a takeover of British Steel in a deal that could save thousands of jobs. Ataer Holding, a wholly owned vehicle of Oyak, the state military retirement scheme, which is also the largest shareholder in Erdemir, the Turkish steel group, is in…

How Flipkart’s PhonePe plans to become a major financial services player

Flipkart, founded in 2007, redefined India’s internet commerce industry in a decade. It developed the cash-on-delivery model and made its own billion-dollar logistics unit in an economy rife with a fractured logistics system. After building a business up from scratch, the ecommerce company stirred up the market further in 2018 when Walmart acquired it for…

China’s Hebei Iron & Steel (HBIS) has failed to get approval from the Hebei government to purchase a majority stake in Tata Steel’s businesses in Thailand and Singapore.

China’s Hebei Iron & Steel (HBIS) has failed to get approval from the Hebei government to purchase a majority stake in Tata Steel’s businesses in Thailand and Singapore.

“HBIS have not been able to procure the requisite approvals from the Hebei government, one of the key conditions precedent for the proposed…

(Ukrainian metal)

Q1 2019 NLMK Group Trading update

NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steelmaker, has published today its preliminary Q1 2019 operating results. Q1 2019 highlights: Steel output decreased by 4% qoq to 4.2 m t due to the overhauls at the Russian sites and seasonal factors. A 3% yoy steel output reduction is also due to the overhauls…

Egypt’s steel industry, stuck in a legal limbo

Since the beginning of this year, the iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued resolution no. 346 in April imposed, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set…

Investors, lenders want tycoon Gautam Thapar removed as Chairman of CG Power

New Delhi: Investors and lenders of power equipment maker CG Power & Industrial Solutions Ltd want tycoon Gautam Thapar to be removed as chairman of the company after an investigation unearthed a multi-crore financial scam in the firm, sources privy to the development said. The company had in a regulatory filing on August 20 stated…

Brazilian steelmaker Gerdau has decided to postpone some of its capacity expansion investments expected for 2019 amid a weaker-than-expected local economy, while reporting year-on-year output growth for the second quarter.

Brazilian steelmaker Gerdau has decided to postpone some of its capacity expansion investments expected for 2019 amid a weaker-than-expected local economy, while reporting year-on-year output growth for the second quarter. It has maintained, however, its 7.1 billion Reais ($1.79 billion) total capital expenditure plan through 2021. The company estimated 1.84 billion Reais of investments for…

MMK expands its range of metal products with high added value

PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made…

China iron ore futures slump on rising supply, weak demand

Dalian iron ore futures slumped to a two-month low on Monday, extending losses to an eighth session, amid worries of weak demand as China’s top steel-producing province of Hebei looks to tighten emission requirements. The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 delivery, dropped as much as 5.6% to 609.50…

I can sense the beginning of a slowdown: Deep Kalra, CEO MakeMyTrip

Tough times teach you the most, says Deep Kalra, founder and CEO of MakeMyTrip. In an interview with Malini Goyal on the ups and downs in his startup journey, he says young entrepreneurs should think like marathoners. Edited excerpts: Travel is a discretionary spend segment. What signal is it sending on the state of the…

China’s finished steel exports decreased on a yearly basis in July 2019, as did exports in the January-July period.

China’s finished steel exports decreased on a yearly basis in July 2019, as did exports in the January-July period. The country shipped 5.57 million tonnes of finished steel abroad in July, down 5.43% from 5.89 million tonnes a year earlier, according to preliminary Chinese customs data released on Thursday August 8. Last month’s exports were…

Mechel’s hardware production upgrade project wins state support

Mechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or…

United Kingdom Imports of Iron & Steel

Imports of Iron & Steel in the United Kingdom increased to 446.95 GBP Million in October from 406.23 GBP Million in September of 2017. Imports of Iron & Steel in the United Kingdom averaged 337.83 GBP Million from 2000 until 2017, reaching an all time high of 631.75 GBP Million in March of 2011 and…

There is no recession in the country, just decline in demand in certain sectors: Rajnish Kumar

State Bank of India Chairman Rajnish Kumar on Saturday said most banks have a comfortable liquidity position and emphasised the need for credit flow in the economy. Kumar also said that India is a part of the world economy, and if there are global headwinds, “we cannot remain unimpacted”. Kumar, who was in Guwahati to…

Montecargo to Ship Iron Ore for HBIS Group Serbia

Montenegro’s transport firm Montecargo has struck a deal with HBIS Group Serbia the owner of the Smederevo steel mill that will see it ship 30,000 tonne of iron ore for the Chinese-owned company. Montecargo CEO Muradif Grbovic has said that “Transport of 120,000 t of ore for the company, which is backed by Chinese capital,…

Major Chinese steelmakers’ daily crude steel output rates were largely flat in mid-July compared with the previous period.

Major Chinese steelmakers’ daily crude steel output rates were largely flat in mid-July compared with the previous period.

Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.02 million tpd during the second 10 days of July, up a mere 0.2 %…

(Ukrainian metal)

Severstal announces sale of Mini-Mill Balakovo

PAO Severstal (the “Company”) one of the world’s leading vertically integrated steel and steel-related mining companies, announces that it has entered into a definitive agreement with Abinsk Electric Steel Works LTD for the sale of Mini-Mill Balakovo. The consideration of the transaction will be $215 million. The transaction is expected to complete in first half…

West Bengal, Odisha, Jharkhand to be major contributors in meeting 300 MT steel output target: Dharmendra Pradhan

"The eastern region of the country holds immense potential and a large part of steel production target as envisioned in National Steel Policy (NSP) 2017 will come from states like Jharkhand, Odisha, West Bengal," a statement issued by Steel Authority of India Ltd (SAIL) quoted the steel minister as saying. Jharkhand, Odisha and West Bengal…

Oil is once again turning PM Modi’s friend with govt move to boost economy

NEW DELHI: Oil is once again proving to be Prime Minister Narendra Modi’s friend when his government is making efforts to fend off a possible slowdown in the pace of economic growth. Crude prices dropped sharply on Friday, the day finance minister Nirmala Sitharaman announced a slew of measures to boost business confidence and pump-prime…

Lodhia Group Putting Billet Plant in Tanzania

Tanzania’s steel and plastics firm Lodhia Group is putting up the country’s first billets plant. According to Lodhia Group managing director Mr Sailesh Pandit, the plant will help meet the high demand for billets in Tanzania and neighbouring countries besides helping fight off under valued, under declared and substandard steel imports from South Africa that…

Reduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?

Reduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets? According to China’s General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished…

Section 232 Creates Boom and Bust in US Steel Prices

While US steel selling values continue to be amongst the highest in the world, domestic steelmakers have lost a large part of the pricing gains they secured in late 2017/early 2018. It is widely accepted that US steel producers capitalised initially, on the speculation, and then the implementation of strong import protection measures, in March,…