Brazilian mining company, Vale SA, plans to sell its share of CSA owned by ThyssenKrupp according to a report published by the Wall Street Journal. Jose Carlos Martins, head of Vale’s Ferrous division and Strategy told WSJ that Vale typically invests in Brazilian steel plants to increase domestic steel production and then sells its share […]
According to the World Steel Association, global steel production rose 1.4 percent in October to 134,262,000 tonnes compared to September and reached a capacity utilization rate of 78.0 percent. The annualized three month moving average production was 1.591 billion tonnes through October (Figure 1). Capacity is now 2.076 billion tonnes. Global production this year has deviated from the […]
Last week Bhushan Steel, an Indian steel mill known for its exports of coated steel products to the United States, suffered a devastating explosion and fire which has killed at least one person and injured five others. The blast occurred when Bhushan was attempting to commission a blast furnace. Reports out of India suggest that […]
Cia Siderúrgica Nacional SA (CSN) reported a record third quarter with net revenue of $4.7 billion reais ($2.02 billion) , up 15 percent from the second quarter and 23 percent from third quarter 2012. EBITDA rose 51 percent from second quarter to $1.7 billion reais ($731 million) due to strong performance in its steel and […]
The European Steel Association (Eurofer) says the year-over-year decline in the European Union (EU) steel industry is beginning to lessen and should show positive growth in 2014, according to the Eurofer Economic and Steel Market Outlook 2013-2014. The SWIP (Steel Weighted Industrial Production) Index is expected to be down -1.1 percent in the third quarter […]
In light of the statistics shared earlier in this newsletter regarding South Korean shipments of hot dipped galvanized into the United States by port. We thought our readers would be interested in learning that South Korean steelmaker; Hyundai Steel is expanding their production capabilities (even with 700+ million metric tons of capacity in neighboring China). […]
Italian steel maker Riva Steel announced it will cease as of today (September 12) all activities at its plants in Italy except those at its troubled Taranto-based ILVA Steel. The announcement follows the seizure of almost 1 billion euros of assets from the Riva Group by Italian police on September 10. The seizure was […]
Oversupply is likely to weaken China steel prices in the second half of 2013 said Baosteel General Manger Dai Zhihao to analysts on Monday. Profit margins have fallen in China with Baosteel reporting a 61.47 percent year over year drop in earnings for the first half of 2013. Overcapacity of nearly 300 million surplus tonnes […]