Donghai Steel Group in Tangshan city in North China’s Hebei province, is planning to build a new 4 million tonne/year electric arc furnace-based steel mill in South China’s Guangdong province, a company official confirmed on Tuesday. Donghai Steel will invest some Yuan 6 billion ($843 million) to build the new steelworks, which will cover an…
Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week. With estimated refined production capacity of 10,000 tonnes per year, the company plans to develop its newly-acquired…
Business Line reported that Enforcement Directorate has attached assets worth INR92 crore of SPS Steel Rolling Mills and others under Prevention of Money Laundering Act, 2002 in a bank fraud case. The attached assets consist of shares of an entity owning five-star hotel, three luxurious apartments, an office building and 0.33 acres of land. ED…
Shipments at zero duty from FTA countries have shot up by 67% in April-July 2019 against a 58% increase in the same period last year (April-July 2018). KOLKATA: A sharp increase in steel imports from partner countries under Free Trade Agreements (FTA) last month has sent alarm bells ringing, with local mills approaching New Delhi…
Among the hotly debated topics at Fastmarkets’ seventh annual Asian Nickel Conference in Jakarta, Indonesia, this week was whether or not increased nickel ore shipments from the Philippines would be able to offset the supply gap that will arise once Indonesia halts exports of the material from next year. The majority of conference delegates were…
Times of India reported that Maruti Suzuki has decided to set up a old vehicles dismantling plant along with a subsidiary of Toyota. The venture between Maruti and Toyota Tsusho India will supply, dismantle and process end-of-life vehicles, and market and sell scrap and other products generated from such activities In doing so, the Maruti-Toyota…
Eastern China’s Shagang has raised the list prices for its rebar and wire rod booked in mid-September. The mill is selling its HRB400 16-25mm rebar at 3,820 yuan ($537) per tonne over the September 11-20 period, up 100 yuan per tonne from its… Source of information
The European Commission implemented amendments to the EU’s safeguard measures starting from 1 October. The effects of these changes are expected to be relatively limited, however, Indonesia is losing its developing country exemption that is likely to restrict their export volumes of stainless into the EU significantly. The European Commission implemented adjustments to the safeguard…