The following article is from one of our close iron ore & steel trading friends located in Asia: The market has changed or is in turmoil, if you want to call it that, here in SE Asia and China continues to out price themselves whereas the China domestic indicators lead to a different scenario. Ore […]
JSW Steel has presented a bid to acquire Bhushan Steel for approximately $3.75 billion and gain a 55 percent majority stake. The deal includes taking over Bhushan Steel’s debt which is estimated at $6.68 billion. Bhushan Steel defaulted on its interest payments in August 2014 and has been working with State Bank of India and […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Please be informed that we are back in our office on Feb 03. Very sorry we didn’t update on the China steel market for more than 2 weeks […]
Hebei province, one of China’s largest steel producing regions, vows to cut 32 million tonnes of iron and steel capacity in 2017. “2017 will be our toughest year in capacity reduction. No matter how difficult it is, we are determined to succeed.” said Governor Zhang Qingwei. The Chinese government has come down hard on steel […]
Outdated steel mills in China will pay about 66.7 percent more per kilowatt for electricity as of January 1 this year. The National Development and Reform Commission raised the rate on outdated steel companies that are scheduled to be phased out as part of the effort to reduce steel capacity and encourage supply side reform. […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission. However, we did need to make some edits to help our readers to better understand the message that is trying to be portrayed: Please allow us to update […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Please allow us to update China steel market (Dec 19 – Dec 25, 2016) as usual as following: In the past week, China steel market had a heavily […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Please allow us to update China steel market ( Dec 12 – Dec 18, 2016) as usual as following: In the past week, China steel still stood at […]
German steel maker Thyssenkrupp revealed technical trade secrets were stolen in a cyber attack earlier this year. “ThyssenKrupp has become the target of a massive cyber attack,” the company said in a statement on Thursday. Breaches at its plant engineering division were discovered in April and traced back to February. The attacks were attributed to […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Please allow us to update China steel market (Nov 28 – Dec 04, 2016) as usual as following: In the past week, China markets still stood at high […]
One of our main Asian contacts provided SMU with a brief glimpse as to what is happening in China this week: No major changes in Ore prices until after the New Year… Waiting to see if the Chinese Government makes any Regulation changes after New Year. You know this is a normal SAGA around this […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Today is Monday, Please allow us to update China steel market (Nov 07 – Nov 13, 2016) as usual as following: In past week, market and non-market factors […]
After already publishing the article below on our website for our members, we received a note from our primary Chinese price source advising us that prices rose in China today by approximately $61 per metric ton. We were told, “Price on 2.5mm [.0985″] is USD450/mt fob st. lsd. A lot of buyers did not cover […]
Essar Global has teamed up with Cargill Inc. to make a bid for US Steel Canada, according to the Globe and Mail. Essar’s bid was rebuffed by USSC in June of 2016 and again as the entity Ontario Steel in August, despite the backing of the United Steelworkers. Bedrock Industries is the current favorite for […]
China’s Hebei province is cracking down on steel operations in the region by imposing “special emission restrictions.” Mills in the province have until September 1, 2017 to comply with new air pollution standards for pollution. Failure to do so could result in fines, mandated reduction in output, or total closure. In a notice issued on […]
China is not likely to meet its steel capacity reduction target of 45 million tons this year. According to data from the World Steel Association, steel output in China has fallen only 0.1 percent from January to August with production at 536 million tonnes. Steel production rose 3 percent year-over-year in August and increased 2.6 […]
After running on provisional licenses for the past six years, Thyssenkrupp’s CSA steel mill in Brazil has finally been granted a definitive operating license by the state environment authority. Companhia Siderúrgica do Atlantico (CSA) has faced environmental problems ever since it began production. Numerous fines and shutdowns were ordered by the court in relation to […]
The Chinese steel industry is often in the news for contributing to severe air pollution but now a Taiwanese-owned steel mill in Vietnam is accused of polluting the ocean and causing a mass fish death. Toxic discharge from Formosa Ha Tinh Steel Corp, a subsidiary of Taiwan’s Formosa Plastics, is responsible for killing an estimated […]
Baosteel and Wuhan Iron and Steel (WISCO), the fifth and eleventh largest steel manufacturers in the world, are merging to form a new entity, China Baowu Iron and Steel Group. The combination of assets will give the new company an estimated 60 million tons of capacity, placing it as second largest producer behind ArcelorMittal. Both […]
The G20 group of nations released their thoughts regarding excess steel capacity and what they are doing to rectify the situation (essentially they are kicking the can to 2017 when they will meet again and hear from an OECD committee on the subject). China has promised to cut steel production by 45 million metric tons […]
China has issued a new policy that outlines steps it will take to address overcapacity in major industrial areas. The report focuses on adherence to market rules and environmental and energy guidelines with punishment for those who fail to meet governmental standards. China has pledged to reduce overcapacity by 2020 in the iron and steel, […]
China’s State Council announced today that it will relax regulations to allow foreign companies to set up wholly-owned steel manufacturing units in four pilot free trade zones. According to a posting on the Central government website, foreign firms will no longer be subject to certain qualification requirements and stake control restrictions when investing in the […]
Nippon Steel & Sumitomo Metal Corp. has developed a new automotive steel that is 20-30 percent lighter and 25 percent stronger than any high-tensile steel now on the market. The highest tensile strength currently available is 1400 megapascals with the industry average around 1200 MPa. NSSMC’s new steel has a grade of 1470 MPa and […]
Tata Steel and Thyssenkrupp confirmed they are in talks about consolidating their European steel businesses. Tata Steel is currently in the process of selling its UK assets but said on Friday that it will also “look at alternative and more sustainable portfolio solutions for the European businesses.” Tata said it has been reviewing bids from […]
Baosteel Group says it will cut its crude steel capacity by 9.2 million tonnes between 2016 and 2018. At a government meeting on July 8, Baosteel’s chairman Xu Lejiang urged state-owned steel firms to use merger and acquisitions to address excess steel capacity. He also urged the government to step up efforts to eliminate inefficiencies […]
Tata Steel is expected to announce on Friday that it is halting the sales process for its UK assets, according to a report by the BBC. Shortly after the United Kingdom announced withdrawal from the European Union, four of the shortlisted bidders pulled out of the process citing uncertainty about the continuing viability of the […]
Baosteel and Wuhan Iron and Steel Group (Wisco) are contemplating a merger that would unseat Hebei Iron and Steel Group as China’s largest domestic producer and rival European steelmaker ArcelorMittal. A merger of China’s second largest steelmaker Baosteel with fifth ranked Wisco would create a combined output of approximately 70 million tonnes. The merger would […]
There have been a number of articles written recently regarding the move by the Chinese government to remove some of the tax incentives in the form of rebates to the Chinese steel producers who export certain steel products. Any move to remove export tax rebates on steel is seen as a positive by the rest […]
Recent reports on India’s steel sector are providing mixed signals on the industry’s health. The nation’s steel industry has suffered two years of low prices and subdued demand but rising GDP and the onset of monsoons after a severe drought may stimulate new orders. “Indian steel demand rose 4.5 per cent in the financial year […]
Tata Steel’s British steelmaking division is up for sale but it is now looking like Tata may keep the UK business. Last week it was reported that Tata was reviewing operations at the UK facilities and assessing offers of financial support from the government. The Daily Mail reports “sweeteners” offered by the Prime Minister include […]