Export prices of Brazilian slab dropped this week because of weakness in the flat steel market in the United States and competition from other suppliers. Fastmarkets’ weekly price of steel slab export, fob main port Brazil, was $420-435 per tonne on Friday September 13, down by $10-15 from $430-450 per tonne fob a week earlier.…
Following last year’s order for a new 18-stand rolling mill, Nucor Steel has chosen Danieli to supply a new Quenching and Self-Tempering system, to be installed at the same mill in Marion, Ohio. The Quenching and Self-Tempering process improves the mechanical properties of deformed bars, in particular the yield strength, using billets with lower alloy…
Poor demand and ongoing bearish sentiment surrounding the European economy continued to keep premiums for aluminium foundry in the region tepid on Friday September 13. Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, unchanged from August 9. On the same day, Fastmarkets assessed the aluminium…
Czech media reported that management of the Liberty Ostrava steelworks signed an agreement with the trade unionists on the future of the company. It concerns future investments, production and employment, but also extends the current collective agreement until 2023. The agreement of the company with the trade unions enshrines, for example, the minimum annual steel…
The government’s move towards mandatory registration of steel import contracts under the Steel Import Monitoring System has raised the hackles of the user industry. The decision is intended to check, if not eliminate, invoice manipulation, the government has argued. Until now, New Delhi has had no clue about the details of import contracts entered into…
Prices for austenitic grades of alloy steel scrap in the UK domestic market decreased this week, despite high nickel costs, because of low demand from stainless steel mills, sources told Fastmarkets on Friday September 13. Austenitic alloy steel scrap prices are usually closely tied to those of nickel. Indeed, since the beginning of July, austenitic…
India Today reported that India’s Supreme Court has set aside the Delhi High Court order granting bail to Bhushan Steel’s former CFO Mr Nittin Johari, who was arrested by the SFIO for alleged fraudulent activities. A bench headed by Justice N V Ramana delivered the verdict on an appeal by the Serious Fraud Investigation Office…
HONG KONG (REUTERS) – China has called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub, executives familiar with the matter said, as Beijing attempts to calm months of unrest in the city. At a meeting…