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India: Steel sector, users in for more shocks as iron ore prices ...
Mon, 18 Jan 2021 00:00:00 GMT
Steel and user industries in India are in for more price shocks as iron ore rose to a near 10-year-high on January 14, with Chinese customs data showing record imports by Beijing. They can expect some relief after the first quarter of 2021, with prices expected to drop in the second quarter and even below $100 a tonne in the following quarters. Iron ore prices increased to 10-year-high in December before retreating on reports of China wanting to reduce its steel output., quoting

EU steel can access Northern Ireland without duty
Fri, 15 Jan 2021 00:00:00 GMT
European steel can be imported into Northern Ireland without paying a 25pc duty, the UK government has said. There will be no quota or duty for European steel, meaning it will have unfettered access to the country, contrary to previous advice from UK government agencies. Material from the rest of the world will still

Duferco eyes major Italy beam production centre
Fri, 15 Jan 2021 00:00:00 GMT
Duferco aims for its San Zeno Naviglio mill to become the most important centre of steel beam production in Europe. The firm previously ordered from SMS Group a new medium sections rolling mill for the steelworks in northern Italy. Following commissioning, the works will reach a yearly output of 1.5 million tonnes of long

Shanghai stainless steel gains on high demand, raw material prices
Thu, 14 Jan 2021 00:00:00 GMT
Stainless steel futures on the Shanghai Futures Exchange inched higher on Wednesday, fuelled by a pick-up in raw material prices and downstream consumption. Due to the recent shutdown of some capacity in Inner Mongolia ferrochrome supplies dropped, GF Futures wrote in a note, explaining the price surge in the raw material used to manufacture stainless steel. Downstream demand also recovered on increasing export orders, GF Futures said. Nickel prices on the Shanghai bourse also jumped,

Steel Industry Starts 2021 on Upbeat Mood: 5 Solid Picks
Tue, 12 Jan 2021 00:00:00 GMT
The steel industry is on an upward trajectory on rising demand across critically important end-markets, surging prices and prospects of infrastructure

U.S. steel groups, union urge Biden to keep Trumps steel tariffs ...
Tue, 12 Jan 2021 00:00:00 GMT
Steel industry and union groups on Monday urged President-elect Joe Biden to keep in place the 25% national security tariffs on steel imports imposed in 2018 by his predecessor, arguing they are essential to ensure the viability of domestic steel production. In a letter to Biden, the American Iron and Steel Institute, the Steel Manufacturers Association, the United Steelworkers union, the Committee on Pipe and Tube Imports and the American Institute of Steel Construction said that the

Tata Steels sales momentum continues as Q3 production grows 3% ...
Mon, 11 Jan 2021 00:00:00 GMT
Tata Steel India reported a 3% year-on-year growth in its crude steel production at 4.60 million tonne for the third quarter of the current fiscal with momentum continuing in sales, though constrained by lower opening inventory post a stronger sales during the second quarter of the fiscal. Deliveries were 4.66 MT in the third quarter, lower by 8% quarter-on quarter and 4% y-o-y. Domestic deliveries sharply ramped up to 4.16 MT. Exports shrank below 11% of overall deliveries. Automotive &

Steel Industry and Labor Urge Biden to Keep Steel Tariffs in ...
Mon, 11 Jan 2021 00:00:00 GMT
WASHINGTON, DC - January 11, 2021 - Four of the leading domestic steel industry associations and the United Steelworkers union today urged President-elect Joe Biden to ensure steel tariffs and quotas, put in place in 2018 to protect national security, are

EU remains Turkey's main HRC export market despite barriers
Fri, 08 Jan 2021 00:00:00 GMT
Although Turkish steel mills overall hot-rolled coil exports in January-November 2020 were 14.5% below last year at 2.71 million mt, due to the EUs import quotas and anti-dumping and countervailing duty investigations, the EU region remained Turkish mills main HRC export destination last year. Despite quotas and safeguard investigations, Italy remained Turkeys largest HRC

Steel sector seeks relief in customs duty on key raw materials
Thu, 07 Jan 2021 00:00:00 GMT
The domestic steel industry is seeking reduction in basic customs duty on key raw materials like anthracite coal, metallurgical coke, coking coal, and graphite electrode in the upcoming Budget. The non-availability of these items in good quality and quantity hinders the growth of the steel industry, industry body Confederation of Indian Industry (CII) said in its Budget recommendations for the sector. The basic customs import duty on anthracite coal is 2.5 per cent. The availability of the

Indian Iron Ore Miners Demand Import Duty Withdrawal
Mon, 04 Jan 2021 00:00:00 GMT
Last week, steel industrys representative body Indian Steel Association (ISA) urged the PMO to impose a temporary ban on exports of iron ore for six months to tide over the present supply crisis which is resulting into price rise of the raw material and causing steel price hike. Reacting to the steel industrys demand for a ban on iron ore exports, miners have written to the Prime Ministers Office (PMO), calling for withdrawal of import and other duties meant for shielding the domestic

China to build overseas iron ore mines to ensure supply, boost ...
Mon, 04 Jan 2021 00:00:00 GMT
China aims to build one or two globally significant overseas iron ore mines by 2025 to boost supply of the steelmaking ingredient and strengthen its pricing power, the industry ministry said on Thursday. Equity output from stakes held by Chinese firms in overseas mines should account for more than 20% of iron ore imports by that year, according to a five-year plan for the steel sector published by the Ministry of Industry and Information Technology (MIIT). The plan, which is open for public

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