WA reported that Australia’s largest steel company BlueScope in 2013 elevated Mr Jason Ellis, the son of former BHP chairman Mr Jerry Ellishim from a regional divisional manager in Thailand to one of the most senior positions in the company the general manager of sales and marketing. Within months of assuming his position, one that…Details
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SHANGHAI, Sept. 20 (Xinhua) – Steel futures opened lower Friday in daytime trading on the Shanghai Futures Exchange. The most active construction steel rebar contract for January delivery was down 66 yuan (about 9.33 U.S. dollars) to open at 3,381 yuan a tonne. The most active January 2020 contract for hot rolled coils, mainly used…Details
Prices for imported flat-rolled steel in South America were mostly down in the week to Friday September 20, given a continuing global downtrend and low demand from the region. Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America, at $490-500 per tonne on September 20, down from $500-515 per tonne…Details
For the first time in over 50 years of cooperation, Primetals Technologies and Tata Steel Europe have commissioned a Level 2 system for a continuous caster completely online. In mid-July 2019, the newsystem from Primetals Technologies successfully replaced the existing automation on continuous casterCC21 of Tata Steel Europe in IJmuiden, the Netherlands. At the same…Details
Indian steel industry is facing some challenges amid the ongoing trade war between the US and China, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production. Pradhan was interacting with reporters on the sidelines of two-day International Galvanising Conference event here.…Details
CIS producers of steel billet have kept their offer prices stable despite mounting downward pressure from the poor international scrap trading environment and limited demand, market sources told Fastmarkets on Friday September 20. Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne on September 20, compared with $356 per tonne…Details
JSW Steel Ltd informed BSE that it has repaid debt of INR 1,148.59 crore to take a release of 5.07 crore of its pledged shares, representing about 2.09% of its share capital. The debt was repaid by three promoter entities that got their pledged shares released. These were, JSW Techno Projects Ltd. that repaid about…Details
VNA reported that escalating trade tensions and rising protectionism have caused a formidable pressure on Vietnamese steel sector. The Vietnam Steel Association has said local steel producers faced difficulties in the first months of 2019 when prices averaged just 650 USD per tonne, a fall of 12 percent compared to the same time last year,…Details
Restocking by downstream consumers in preparation for China’s National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20. All base metals inventories fell, barring zinc and nickel. Copper stocks tumbled by 7.1% or 10,809 tonnes to 141,379 tonnes…Details
Chinese state owned Baowu Steel Group inked an agreement with Magang (Group) Holding Co Ltd to secure a 51% stake in the latter. Mr Chen Derong, chairman of Baowu said the partnership was a continuation of the long-term cooperative relationship between the two, as well as a major move in pushing for the supply-side reform…Details
In January-August Ukraine increased pipe output by 0.6% YoY, to 738.5 thousand tons. In August 75.8 thousand tons of pipes were produced. Ukrtruboprom enterprises decreased output by 1.2%, to 539.2 thousand tons, with 53.7 thousand tons produced in August. Interpipe NTZ decreased pipe manufacture by 14%, to 170.6 thousand tons, and Trubostal – by 15%,…Details
Northern European suppliers of flat steel products report sluggish activity, since the end of the summer vacation period. Carmaking, in Western Europe, continues to be depressed, while other manufacturing sectors show little sign of picking up. Falling raw material costs add to the negative trend in northern European steel prices. Few third country offers are…Details
AzerGold company will direct 323,473 manats to purchase spare parts for generators. The contract was concluded with KM Services MMC. AzerGold CJSC, which began operations in July 2016, is engaged in the study, research, exploration, management of precious and non-ferrous metal deposits, their extraction, processing and sale, as well as the application of new technologies…Details