SSAB introduces flexibility measures and initiates employer-employee negotiations in its Finnish operations. The initiatives are due to a reduction in production volumes in the Nordic operations. The negotiations to be initiated concern potential temporary lay-offs in the Finnish operations, excluding Lappohja tube mill and the subsidiaries Ruukki Construction, Tibnor, Raahen Voima and Presteel. The negotiations…
Domestic rebar prices in Poland remained unchanged this week with market activity just beginning to recover after the seasonal summer slowdown, sources told Fastmarkets on Friday August 30. Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, remained at 2,150-2,200 zloty ($542-555) per tonne on August 30. The assessment reflected the… Source…
Leading Russian mining and metals companies Mechel PAO has signed a major contract for coke and coal supplies with the international trading company Steel Mont. According to the agreement, before the end of 2020 Mechel will supply Steel Mont with up to 700,000 tonnes of products, including up to 350,000 tonnes of metallurgical coke produced…
Key data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 30. Europe The high-carbon ferro-chrome market ticked down in response to business being reported at the lower end of the range and below. Some producers were aggressive in their offer prices to generate liquidity. At…
Deccan Herald reported that Steel Minister Dharmendra Pradhan has sought enhanced technology and investment support from Japan for the domestic steel sector. He discussed bolstering energy ties between the two oldest democracies in Asia and sought increasing role of Japanese technology and investments into the Indian steel sector. The meeting assumes significance as steel companies…
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019. These five currency pairs should be on your watch-list for the significant influences…
Reuters reported that Britain announced GBP 390 million of spending for low carbon technology, most of which will go to the steel industry in a fund to help it reduce emissions. The announcement of GBP 250 million Clean Steel Funds was accompanied by a GBP 100 million fund to develop the production of hydrogen, which…
Ferrous scrap prices around the world fell over the week ended Friday August 30 on thin buying interest from end-users, which expected more price falls so were not eager to purchase materials. Ample supply damps prices More falls in export prices expected Prices plunge on thin buying interest Limited transactions on weak downstream demand. Turkey…