JSW Steel has recorded a 13% drop in crude steel production in August 2019. JSW Steel informed BSE that crude steel production for August 2019 was at 1.25 million tonnes as compared to 1.45 million tonnes in the same period last year. Production of flat rolled products saw a decline of 13 per cent to…Details
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SHANGHAI, Sep 12 (SMM) – Production of stainless steel in China grew in August for a second straight month, rising 2.93% from July to 2.6 million mt, showed an SMM survey.August’s output was 18.03% higher than the corresponding month of 2018.#300-series accounted for 1.23 million mt, up 5.13% from a month ago and 8.01% from…Details
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal’s forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions. Despite moderately low volumes at just over 6,000 lots exchanged by the close, nickel’s…Details
Reuters reported that Nippon Steel Corp said that one of two basic-oxygen furnaces at Kimitsu Steel Works in Chiba prefecture east of Tokyo had halted operations since Monday after a chimney that discharges gas collapsed due to a typhoon. A spokeswoman at Nippon Steel said that “We are still investigating the damage and we don’t…Details
U.S. Steel warned the state of Indiana its "indefinite idling" of East Chicago Tin because of an abrupt decline in the tin can business will displace 307 workers, though the steelmaker said the total number of layoffs will more likely total around 150. Pittsburgh-based U.S. Steel said it hopes to transfer more than 150 displaced…Details
IRON ORE DAILY: Seaborne prices close in on $100/tonne amid rush to build inventories ahead of National Day holiday in China
Seaborne iron ore prices surged on Thursday September 12 amid support from Chinese steelmakers stocking up ahead of the week-long National Day holiday at the start of October. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $99.30 per tonne, up $4.64 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $99.69 per tonne, up $4.64 per…Details
Economic Times reported that JSW Steel chairman Mr Sajjan Jindal said his company will approach a higher court to seek immunity against claims arising from alleged money laundering frauds at Bhushan Power and Steel. He told ET “We want a neat and clean company, and we don’t want any confusion. We as a resolution applicant…Details
At a time when exports are battling a global slowdown, the latest restriction on steel product imports will add to the woes of India’s engineering goods exporters, said the Engineering Export Promotion Council (EEPC). Steel is raw material for engineering goods companies. In a letter to Union Commerce and Industry Minister Piyush Goyal, EEPC Chairman…Details
China’s rebar prices were unchanged in both domestic and export market on Thursday September 12 amid thin trading. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($513-517) per tonne, unchanged Northern China (Beijing): 3,620-3,650 yuan per tonne, unchanged Buyers from the construction sector had stocked up on materials in the past three days, ahead of a public…Details
Mariupol Ilyich Iron and Steel Works has successfully passed the supervisory audit for the compliance with ISO 9001:2015 and DSTU ISO 9001:2015. The audit has been carried out by TÜV SÜD specialists. Following the inspection the specialists recommended prolonging the company certificates for 1 year. (Ukrainian metal)Details
In January-August Ukraine exported 1.6 million tons of pig iron, down by 25.8% YoY, valued at $507.9 million tons, down by 34.8%. The decrease could be attributed to the limitation of pig iron exports to the US and the drop in prices. While in January-August 2018 Ukraine shipped 1.266 million tons of pig iron to…Details
Orel Steel Works is carrying out a program to increase exports. The program will run until 2023 and presupposes increase of export volumes and geography of sales in stages. Official representatives are also expected to be created. In January-August the company exported 2.6 thousand tons of metal, up almost 2-fold YoY. The company started exporting…Details
In January-July Russia exported 24.836 million tons of ferrous metals, down by 9.5% YoY. Not counting pig iron, ferroalloys, wastes and scrap, exports totaled 16.292 million tons, down by 8.9%. Sales of carbon steel semi-finished products decreased by 7.6%, to 8.764 million tons, and of carbon steel rounds – by 12.9%, to 4.157 million tons.…Details