Just when investors were cheering the U.S.-China agreement to conduct trade talks in early October, the U.S. Commerce Department announced duties on Chinese and Mexican structural steel . The Trump administration has levied duties of up to 141% on Chinese structural steel and up to 31% on Mexican structural steel. Based on these rates, the…Details
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The domestic price for Brazilian steel rebar dropped for the fourth consecutive month in September, with apparent long steel consumption faltering, smaller producers increasing the discounts granted to customers, and ferrous scrap costs holding steady. Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,125-2,300 Reais ($519-561) per tonne on September…Details
India’s Directorate General of Foreign Trade announced that import policy for 215 items has been revised from free to free subject to compulsory registration under SIM making it mandatory for traders to register themselves with Steel Import Monitoring System to import these steel products under Chapter 72, 73 and 86 of ITC HS. The Steel…Details
Iron ore futures in China rose to a 3-1/2-week high on Wednesday, fuelled by hopes of stable demand as anti-pollution curbs in top steelmaking cities ahead of the National Day holiday were more lenient than expected. The most-traded iron ore futures contract on the Dalian Commodity Exchange for January 2020 delivery rose as much as…Details
Seaborne iron ore prices continued to correct below the $90-per-tonne-cfr mark on Friday September 6 amid futures losses and thin physical trading. 62% Fe fines, cfr Qingdao: $89.05 per tonne, down $1.13 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $89.44 per tonne, down $1.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, down…Details
JSW Steel announced that National Company Law Tribunal has approved the Resolution Plan submitted by JSW Steel Limited in respect of the corporate insolvency resolution process of Bhushan Power and Steel Limited. 2 member NCLT bench, headed by its president MM Kumar, said in its 138-page order that the resolution plan of JSW, H1 resolution…Details
Primetals Technologies receives FAC for automation upgrades at Gerdau Ouro Branco and conducts Industry 4.0 study
In late March, Primetals Technologies received the Final Acceptance Certificates (FACs) for automation upgrades conducted on a third-party 6-strand billet caster and two blast furnaces of Gerdau Ouro Branco in Minas Gerais, Brazil. The caster project included the upgrade of outdated level 1 and level 2 systems, resulting in quality improvements, reduced maintenance requirements and…Details
Bankers to take a near 30% haircut; operational creditors to get `350 crore against admitted claims of `733.76 crore Sajjan Jindal-promoted JSW Steel has finally won Bhushan Power and Steel (BPSL) with its Rs 19,700-crore bid having been accepted by the National Company Law Tribunal (NCLT). At this price, bankers will be taking a near…Details
A tighter supply-demand balance for iron ore at Chinese ports coupled with sharp price decreases in the seaborne market have led to the steelmaking raw material being sold at large premiums at the docks in China. Fastmarkets’ implied China port price for 62% Fe iron ore fines, fot Qingdao was $10.18 per tonne higher than…Details
In January-August Ukraine transported 1.05 million tons of metal products via the Dnipro River, up by 33.9% YoY. Overall transportation grew by 29.3%, to 6.88 million tons. In January-June metal transportation increased by 45% YoY, to 647 thousand tons. (Ukrainian metal)Details
In January-August Ukraine received $6.3 billion of revenue from the exports of ferrous metals, down by 10% YoY. According to the State Statistics Service, ferrous metals accounted for 19.08% of total revenue, down from 22.65% in 2018. In August exports revenue was $685.68 million. Imports of ferrous metals in 8 months dropped by 4.4%, to…Details
Early on September 5 fire break out on the territory of Metinvest – Kriviy Rih repair-mechanical plant. According to the emergency service, a transformer in the foundry shop took fire. The fire has damaged the electric cable. The size of the fire was 3 meters. There were no casualties. According to the Metinvest press-service, the…Details
In January-August Ukraine exported 37.082 thousand tons of ferrous metals scrap, down 8.1-fold YoY, valued at $10.259 million, down 9.6-fold. In particular, in August Ukraine exported 155 tons of scrap, in July – 204 tons, in June – 208 tons, in May – 8.086 thousand tons, in April – 8.791 thousand tons, in March –…Details