Another local metal manufacturing company will close due to the increased cost of steel tariffs, as well as other “crippling” business conditions, according to a filing with the Texas Workforce Commission. United Structures of America, a Houston metal fabrication and engineering company with facilities here and in Portland, Tenn. will cease operations. The company’s Houston…Details
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European aluminium billet premiums on Friday August 30 traded at their lowest since late 2016 and early 2017, pressured by a sustained oversupply in the region. Oversupply, aggressive offers sink premiums in Europe. Brazilian billet premium falls on weak demand. US, Asian billet premiums steady. European premiums hit by sustained oversupply European billet premiums hit…Details
Sky News has learnt that Systra, which has been engaged in talks to buy TSP for three months, has clinched a deal to buy the business, along with its GBP 70 million plus pension liabilities. The agreement is expected to be announced by Systra and the Official Receiver, which has been managing British Steel since…Details
WASHINGTON — Chinese imports of steel trailer wheels, 12 to 16.5 inches in diameter, are causing material injury to U.S. steel trailer wheel makers, the U.S. International Trade Commission has determined. The ITC voted 5-0 Aug. 2 to make its final affirmative determination in the case, which began in August 2018 with petitions for relief…Details
An overview of the noble alloys markets and their latest price moves. Source of informationDetails
Reuters, citing four Source of informationDetails
The European Commission recently completed its review of the safeguard measures, which were introduced to prevent the redirection of material previously destined for the United States. The Commission has recommended changes, to the list of products from developing nations, that are currently excluded from the quota system. It has made the proposed amendments based on…Details
The funding is part of Britain's efforts to meet its target to reach net zero greenhouse gas emissions by 2050 to help curb rising global temperatures. LONDON – Britain announced 390 million pounds ($480 million) of spending for low carbon technology on Thursday, most of which will go to the steel industry in a fund…Details
Physical iron ore prices rose on Friday August 30 on news that China was willing to proceed with negotiations to resolve its trade war with the United States. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.66 per tonne, up by $3.19 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $85.04 per tonne,…Details
National Company Law Tribunal on August 28 cleared the sale of IL&FS’s seven wind energy assets to Japan’s Orix Corporation for INR 4,800 crore, which will partially help reduce its debt burden of over INR 99,000 crore. The tribunal comprising of VP Singh and Rajesh Sharma allowed the government-appointed board’s plea to approve sale of…Details
* Dalian, Singapore iron ore up more than 2% * Dalian iron ore slumps more than 20% in August * Coking coal prices to rebound in 2020 – Fitch Iron ore futures in China climbed on Friday, buoyed as some restocking demand for the steelmaking material emerged, but were on track for their first monthly…Details
In January-July Ukraine increased pipes output by 3.3% YoY, to 664.5 thousand tons. In July 86.6 thousand tons were produced. In particular, Ukrtruboprom association enterprises increased pipe output by 2.8%, to 487.3 thousand tons, with 62.5 thousand tons produced in July. Khartsyzsk Pipe Works is still idle. Interpipe-NTZ produced 154.9 thousand tons of pipes, down…Details
In July enterprises of the mining and metallurgical sphere mostly increased average salary, except for pipe companies. In particular, the average salary at mining companies was 17,796.8 UAH, up by 10.6% MoM. At by-product coke plants the average wage was 19,102.9 UAH (+0.7%), ferrous metal companies – 17,807.9 UAH (+0.5%), non-ferrous metallurgy – 11,911.7 UAH…Details