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Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look. The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May. The Chinese government…
DetailsThe weakening of the yuan to a decade-low against the US dollar is causing a lot of disruption to steel trading markets in Asia, sources told Fastmarkets this week. “The situation is very chaotic now, and bids and offers are all over the place,” a trader in East Asia said on Monday August 5. China’s…
DetailsIt has been three years since the commissioning of the polymer-coating unit No. 5 at the Lysvensky Metallurgical Plant, which currently manufactures products with decorative designs under the SteelArt brand. These products consist of a metal base with a three-layer polymer coating, which accurately imitates the look and feel of natural materials such as stone,…
DetailsChina’s iron ore futures dropped 2% on Thursday, falling for a sixth day in a row, as traders remained wary about expected increase in supplies from miners. “Sentiment of traders has collapsed… People don’t know how much further the iron ore will go down and everyone is desperately getting rid of the goods they hold,”…
DetailsMUMBAI: Synergy Group Corp, a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of the development. The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by…
DetailsBrazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed. The country exported 34.27 million tonnes of the steelmaking raw…
DetailsPAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in…
DetailsAn investment group owned by Turkey’s military pension fund is in last-minute talks about a takeover of British Steel in a deal that could save thousands of jobs. Ataer Holding, a wholly owned vehicle of Oyak, the state military retirement scheme, which is also the largest shareholder in Erdemir, the Turkish steel group, is in…
DetailsChina’s Hebei Iron & Steel (HBIS) has failed to get approval from the Hebei government to purchase a majority stake in Tata Steel’s businesses in Thailand and Singapore. “HBIS have not been able to procure the requisite approvals from the Hebei government, one of the key conditions precedent for the proposed… (Ukrainian metal)
DetailsNLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steelmaker, has published today its preliminary Q1 2019 operating results. Q1 2019 highlights: Steel output decreased by 4% qoq to 4.2 m t due to the overhauls at the Russian sites and seasonal factors. A 3% yoy steel output reduction is also due to the overhauls…
DetailsSince the beginning of this year, the iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued resolution no. 346 in April imposed, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set…
DetailsBrazilian steelmaker Gerdau has decided to postpone some of its capacity expansion investments expected for 2019 amid a weaker-than-expected local economy, while reporting year-on-year output growth for the second quarter. It has maintained, however, its 7.1 billion Reais ($1.79 billion) total capital expenditure plan through 2021. The company estimated 1.84 billion Reais of investments for…
DetailsPJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made…
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