Metallurgy news
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Nippon Steel expects production losses due to plant shutdownsNippon Steel, Japan's largest steel mill, is forecasting a loss of about 400,000 tonnes of steel in fiscal 2019 as a result of shutdowns this year at its plants at its Kimitsu plant in Tokyo and at Nippon Steel Nisshin Kure plant in Hiroshima, the company confirmed on Thursday. ... , Fiscal 2019 of…
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ArcelorMittal awaits judgment on Essar Steel in NovemberArcelorMittal is awaiting a ruling from the Indian Supreme Court in November on the proposed acquisition of Essar Steel (ESIL). Subject to a favorable and clear final order, completion of the deal is expected by the end of the year, the world's largest steelmaker said in a report. In July, India's…
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Chinese steel exports in October fell by more than 13% on a yearAccording to statistics released by the General Administration of Customs on November 8, total steel exports in October were 4.8 million tons, down 13.1% from the same period last year. Moreover, total steel exports from January to October this year amounted to 55 million tons, down 5.8% year on…
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Turkey's flat steel exports to EU raises concernsAccording to a report by the Turkish Statistical Institute, the export of sheet metal products from Turkey in September fell by 21.8% compared with a year earlier, amounting to about 394,000 tons. The main reason for the fall was due to weak demand in the EU in June and July. Moreover, the European…
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Indian Tata Steel Promotes Southeast Asia Asset Sale PlanIndian steel company Tata Steel has said it will sell 56.5% of its stake in Vietnamese long products manufacturer NatSteel Vina (NSV). NatSteel Holdings (NSH), a subsidiary of Tata Steel, has signed a sale agreement with Vietnamese company Thai Hung Trading Joint for NatSteel Vina. The deal will be…
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China calls for lifting ban on imports of steel scrapThe China Scrap Association is lobbying to end the ban on imports of ferrous scrap to help cut domestic deficits and lower costs for steel mills. China began to cut scrap imports in June 2017, intending to ban all scrap imports by 2020. China also imposed a 25 percent import tariff on scrap metal…
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Long-term outlook for Ukrainian steel production remains gloomy - Fitch SolutionsRatings agency Fitch Solution said: “We maintain a bleak outlook for the Ukrainian steel industry in the coming years, driven by the ongoing conflict in Donbas, which disrupts vital supply chains for steel producers. Overall, declining steel prices and growing protectionism in the steel sector will…
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Italy accuses ArcelorMittal of blackmail over Ilva plantGiuseppe Conte, Italy's prime minister, said he would not allow ArcelorMittal to abandon its acquisition of the troubled Ilva steel mill. The prime minister told reporters: "The agreement has been agreed and we are not going to back down, so the commitments will be respected." Industry Minister…
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Nippon Steel integrates and reorganizes steel plantNippon Steel Corporation has facilitated the integration and reorganization of some steel plants and the establishment of cooperation measures between steel plants in order to increase competitiveness. The company has now decided to make these changes across all smelters as part of an…
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European steel prices to stay low in the short term - Fitch RatingsFitch Ratings and CRU said that steel product prices in Western Europe fell in 2019 from their 2017-2018 peak and are likely to remain low by 2020. It was noted that “steel producers' margins have declined, but this may rise towards the end of 2020 due to capacity cuts and lower costs. The…
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