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CRU: Imports cause concern in India and Vietnam
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
The volume of steel shipped into Vietnam more than doubled in May to 1.1 million (mt), with China’s share above 70%, according to customs’ statistics. In the first five months, Chinese imports were more than 4.7 million mt, an increase of 91% year on year.
Canada’s industry minister Francois-Philippe Champagne has conditionally allowed a Glencore-led consortium to acquire Teck’s Elk Valley Resources (EVR) metallurgical coal business for $6.9 billion. He also raised the bar for foreign companies wanting to buy into the country’s critical mineral resources.
U.S. Steel has shut down battery No.15 at its Clairton coke works in Pennsylvania for good, broadcaster CBS reported. The closure is part of an agreement with the local Allegheny County health department after the authority fined the company $2.2 million earlier this year for air emission violations at the plant, and $1.8 million two years ago […]
The China Iron and Steel Association (Cisa) has urged steel producers to cut back on record high inventories while the sector struggles with oversupply.
Japanese steelmaker JFE Holdings will invest abroad as part of a drive to lift income, says group president Yoshihisa Kitano.
Brazil-based Gerdau has announced it will carry out a feasibility study into the greenfield development of a 600,000 metric-ton-per-year (mt) special steel plant in Mexico.
If successful in its overtures to Anglo American, BHP will create the world’s largest diversified miner by a country mile. The rationale for this merger is scale and in mining, size matters.
Directors of Swedish steelmaker SSAB have decided to replace blast furnace-based steelmaking at Lulea with a ‘green steel’ mini-mill process.
A container ship collided with the Francis Scott Key Bridge in Baltimore on March 26, causing it to collapse. This has blocked sea lanes into and out of Baltimore port, which is the largest source of US seaborne thermal coal exports. The port usually exports 1–1.5 million metric tons (mt) of thermal coal per month. It is uncertain when sea shipping will be restored. But it could be several weeks or more. There are coal export terminals in Virginia, though diversion to these ports would raise costs.