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Reuters reported that EU governments approved limits to steel quotas designed to protect European manufacturers from the threat of surging imports following the effective closure of the US market. EU diplomats said that a large majority of EU countries voted to back changes proposed by the European Commission. The bloc has had in place for…
DetailsSecondary aluminium alloy prices fell across the board on Thursday September 5 due to diminishing demand in the United States, with the London Metal Exchange’s North American special aluminium alloy contract (Nasaac) also tumbling to a more than 10-year low. Fastmarkets’ assessment for aluminium alloy A380.1, delivered Midwest, was at 63-67 cents per lb on September…
DetailsThe US International Trade Commission has determined that revoking the existing antidumping and countervailing duty orders on imports of circular welded carbon quality steel line pipe from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing…
DetailsStainless steel flat product prices in Europe remained unchanged this week with poor demand countering the effect of high nickel prices, sources told Fastmarkets on Friday September 6. Fastmarkets’ price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was €2,300-2,350 ($2,539-2,594) per tonne on Wednesday, unchanged week on week. Distributors…
DetailsSalzgitter Flachstahl has commissioned SMS group to revamp continuous caster No 1 at its Salzgitter works. The plant, which was delivered by SMS group in 1981, is to be fitted with a new machine head with mold, oscillator, and segment. The revamp is aimed at upgrading the plant with a range of trendsetting features, including…
DetailsThe London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal’s forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned…
DetailsAs per a report in Times of India, Rashtriya Ispat Nigam Ltd has adopted barter system to pay its vendors. A ferroalloys supplier to RINL VSP said that “The delay in payment started earlier this year, when bills that we had submitted for ferroalloys we supplied to VSP were delayed by several months, adding to…
DetailsPrices of austenitic alloy steel scrap in the UK domestic market were stable this week at last week’s closing level amid relatively stable nickel prices, sources told Fastmarkets on Friday September 6. A surge in the nickel contract on the London Metal Exchange on August 30 of 9.6% day on day resulted in higher scrap…
DetailsPhilippines largest steelmaker, SteelAsia Manufacturing Corp has signed a memorandum of understanding with China’s HBIS Group Limited for their first integrated iron and steel facility in Lemery, Batangas. The two steel companies inked their deal here Friday during the Philippine-China Business Forum, a side event of President Rodrigo Duterte’s visit to China. Under the MOU,…
DetailsFlat steel prices in the Brazilian domestic market have fallen in early September, with sellers granting discounts on large batches of inventory material, sources have told Fastmarkets. Fastmarkets’ price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, was 2,250-2,470 Reais ($549-603) per tonne on Friday September 6, down from 2,470-2,517 Reais per tonne a…
DetailsReuters, citing three people familiar with the matter, reported that Finland’s Kone is considering teaming up with a private equity partner to bid for Thyssenkrupp’s elevator business. Source of information
DetailsGlobal ferrous scrap prices plunged worldwide over the week ended Friday September 6, with buyers expecting more price falls in the near term after key Turkish mills bought cargoes at prices lower than the latest previous transactions. Key buyers in Turkey, Vietnam and South Korea were looking for bargains and bought cheap imported cargoes, but…
DetailsAccording to Hebei Metallurgical Industry Association, the steel purchasing managers’ index for China’s Hebei province fell 0.4 basis points in August 2019 from the previous month to 47 points, the fourth consecutive monthly drop, indicating the underlying softness of China’s steel market. The sub-index for new orders in August dropped by 3.6 basis points on…
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