Export prices of Brazilian slab dropped this week because of weakness in the flat steel market in the United States and competition from other suppliers. Fastmarkets’ weekly price of steel slab export, fob main port Brazil, was $420-435 per tonne on Friday September 13, down by $10-15 from $430-450 per tonne fob a week earlier.…Details
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Following last year’s order for a new 18-stand rolling mill, Nucor Steel has chosen Danieli to supply a new Quenching and Self-Tempering system, to be installed at the same mill in Marion, Ohio. The Quenching and Self-Tempering process improves the mechanical properties of deformed bars, in particular the yield strength, using billets with lower alloy…Details
Poor demand and ongoing bearish sentiment surrounding the European economy continued to keep premiums for aluminium foundry in the region tepid on Friday September 13. Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, unchanged from August 9. On the same day, Fastmarkets assessed the aluminium…Details
Czech media reported that management of the Liberty Ostrava steelworks signed an agreement with the trade unionists on the future of the company. It concerns future investments, production and employment, but also extends the current collective agreement until 2023. The agreement of the company with the trade unions enshrines, for example, the minimum annual steel…Details
The government’s move towards mandatory registration of steel import contracts under the Steel Import Monitoring System has raised the hackles of the user industry. The decision is intended to check, if not eliminate, invoice manipulation, the government has argued. Until now, New Delhi has had no clue about the details of import contracts entered into…Details
Prices for austenitic grades of alloy steel scrap in the UK domestic market decreased this week, despite high nickel costs, because of low demand from stainless steel mills, sources told Fastmarkets on Friday September 13. Austenitic alloy steel scrap prices are usually closely tied to those of nickel. Indeed, since the beginning of July, austenitic…Details
India Today reported that India’s Supreme Court has set aside the Delhi High Court order granting bail to Bhushan Steel’s former CFO Mr Nittin Johari, who was arrested by the SFIO for alleged fraudulent activities. A bench headed by Justice N V Ramana delivered the verdict on an appeal by the Serious Fraud Investigation Office…Details
HONG KONG (REUTERS) – China has called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub, executives familiar with the matter said, as Beijing attempts to calm months of unrest in the city. At a meeting…Details
London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing’s (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid…Details
Business Line reported that JSW Steel will move the National Company Law Appellate Tribunal on Friday to seek immunity from the ongoing criminal fraud cases against Bhushan Power and Steel Ltd. JSW Steel is the new owner of Bhushan Power after it emerged the top bidder through the insolvency process. JSW Steel will also appeal…Details
Japanese trading house Mitsui & Co plans to expand its liquefied natural gas (LNG) and iron ore assets to meet growing demand in Asia despite signs of a slowing global economy amid a prolonged U.S.-China trade row, its senior executive said. “Energy and natural re Source of informationDetails
The bulk scrap price fell below $270 per tonne after a lower Kanto auction result and increased European supply to the region. Key market participants in the region expect more price falls after the lower Kanto Tetsugen auction this week, with end users shying away from purchasing large quantities. Large quantities of European scrap meant…Details
Sergey Filipiev has been appointed Interpipe Niko Tube CEO from September 11. He has been working at major metal enterprises for over 20 years. Before coming to Interpipe he has been working at Chusovoy Iron and Steel Works (Russia). Valeriy Karpyuk, who has been heading the company since 2017, has retired. (Ukrainian metal)Details