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…

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…

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…

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…

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…

Metalloinvest presents updated Development Strategy

Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and one of the regional producers of high-quality steel, has updated its Development Strategy. The Strategy aims to allow the Company to maintain the leading position in the metals and mining industry and continuously enhance the Company’s efficiency. In 2015, Metalloinvest announced…

Steel and Tube Holdings Announced Result

Steel & Tube Holdings Limited made good progress on its business turnaround programme in FY19, although positive gains were offset by lower than expected gross margin performance due to market contraction in some high value categories and a highly competitive market. Revenues were $498.1 million, earnings before interest and tax was $16.8 million and net…

Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China.

Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China. Demand in China’s domestic market weakened last month amid bad weather – heavy rain in some regions and sweltering heat in most of…