Texas US based steel manufacturing, processing, and distribution company Friedman Industries Incorporated announced today the appointment of Mr Michael J Taylor as President and Chief Executive Officer of the Company, effective September 12, 2019. Mr Taylor, age 60, has served as the Interim President and Interim Chief Executive Officer since February 12, 2019 and has…Details
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Domestic price sentiment for hot-dipped galvanized coil (HDG) in Europe has continued to be negative in the week ended Thursday September 19 due to slow market activity, sources have told Fastmarkets. Fastmarkets’ weekly price assessment for steel HDG, domestic, exw Northern Europe, was unchanged over the week at €550-570 ($608-630) per tonne ex-works on September…Details
United States Steel Corporation has provided third quarter 2019 guidance. It said “We expect third quarter 2019 adjusted EBITDA to be approximately USD 115 million, which excludes approximately USD 53 million of estimated third quarter impacts from the December 24, 2018 fire at our Clairton coke making facility and estimated restructuring charges. We expect third…Details
Singapore — China's robust production of rebar and hot-rolled coil this year, despite weaker steel demand and prices, is an indication that overall output has become "irrational", market Source of informationDetails
Base metals ended flat to lower on the London Metal Exchange on Thursday September 19- tin closed below $17,000 per tonne and copper below $5,800 per tonne. The three-month tin price ended at $16,457 per tonne this afternoon, its weakest close since August 30 and down from an intraday high of $16,895 per tonne –…Details
POSCO announced that it will actively target the super alloy stainless steel market to make sulfur scrubbers ahead of next year, when tighter sulfur oxide emissions guidelines on ships come into effect. Through extensive research and development, POSCO has succeeded in mass-producing S31254, a high-alloy stainless steel developed for use in seawater. The steel contains…Details
A new report by BMO Global Commodities Research suggests that while overall Chinese trade is struggling — looking beyond headline figures, mining firms have few reasons to worry. US trade is in freefall and total Chinese imports may be down 5% compared to last year but, says BMO, imports of raw materials and ores “continue…Details
Ahead of Fastmarkets’ Battery Materials Europe conference in Amsterdam, we hosted a free web seminar to discuss recent market moves in the battery and EV sector, and what to expect over the coming months. If you missed it, follow the link below to listen to the free recording. What is driving the battery raw materials…Details
The Hindu Business Line reported that JSW Steel has cut its capital expenditure plans in the US by 60% to USD 400 million due to weak demand and a slowing economy. Mr Seshagiri Rao, Joint Managing Director, JSW Steel, told Business Line that “The company had already invested USD 250 million in restarting production at…Details
Riyadh — Indian steel manufacturers plan to strengthen their relationship with the Middle East market, especially Saudi Arabia, according to remarks made during the second day of the First International Saudi Iron and Steel Conference on Wednesday. "India is a natural supplier for Middle East given its position on the Indian Sea," V.R. Sharma, managing…Details
Expectations of stockpiling activity ahead of the Chinese National Day holiday (October 1-7) have boosted sentiment among suppliers, leading to higher spot quotations for battery raw materials, including cobalt sulfate and tetroxide. Fastmarkets’ assessment for cobalt tetroxide 72.6% Co min, delivered China rose to 200,000-210,000 yuan ($28,140-29,547) per tonne on Wednesday September 18, up 2.5% from…Details
Energomashspetsstal has received a new order to produce rolls for two ArcelorMittal European enterprises. In particular, for ArcelorMittal Bremen (Germany) EMSS will produce 4 supporting rolls with the combined weight of 117 tons. 2 more rolls 40 tons each will be manufactured for ArcelorMittal Sagunto SL (Spain). The rolls have to be delivered in Q4…Details
Izhstal has mastered the manufacture of round rolled metal with the diameter of 200 mm at the mill-450. The maximum diameter for the mill used to be 120 mm. In 2017 the mill was modernized and the product range increased to 130-150 mm and 170-180 mm. Such rolled metal is in demand in aviation and…Details