NEWS

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Union leaders, Opposition MPs and even the Chamber of Commerce are pressing the federal government to help Canada's struggling steel industry. Two Hamilton Members of Parliament, three chambers of commerce and union leaders at the local and provincial levels separately have called for help for the industry and especially for…

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The rest of the world might have found it absurd, but China thought it could turn the tables on steel-importing countries in the West by raising complaints that iron ore industry leaders were in cahoots in selling the steel-making ingredient in its market at manipulated low prices. A group of…

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Iron ore prices rose fractionally for a second consecutive session on Monday. According to Metal Bulletin, the spot price for benchmark 62% fines rose by 0.46% to $61.23 a tonne, extending the gains so far this year to over 40%. Analysts note that the gain corresponded with strength in Chinese…

Tuesday, Aug 23, 2016
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Despite imposing additional tariffs on imported steel billets and rods, Vietnam has failed to stem the influx of imported steel, mainly from China whose suppliers are offloading products cheaply due to oversupply in their domestic market. Vietnam spent US$4.5 billion importing 11.1 million tonnes of iron and steel in the…

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Tokyo Steel Manufacturing , Japan's top electric arc furnace steelmaker, said on Monday it would keep product prices unchanged for the third month in September, reflecting a slow recovery in its local market. Tokyo Steel's pricing strategy is closely watched by Asian rivals such as Posco, Hyundai Steel Co and…

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Australia's BlueScope Steel Ltd more than doubled its annual profit thanks to sharp cost cuts, higher sales, and the takeover of North Star in the United States, and said it expects strong earnings growth in the current half year. BlueScope, focused on growing in Asia while slashing costs at its…

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TMK, Russia's largest maker of steel pipes for the oil and gas industry, is considering a secondary share issue and asset sale to cut debt, it said on Friday. TMK, hit by weak pipe sales in the United States, borrowed heavily to expand abroad about eight years ago and now…

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Pacific Steel - which is understood to have laid an anti-dumping complaint against China - wants the government to take a stronger stance on the "massive over-supply" of steel from China. The government has been embroiled in a controversy over its response to threats of trade retaliation from China if…

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After the steel industry got the government to impose minimum import price on select steel products to protect the domestic industry against the onslaught of cheap imports, giants of the aluminium industry are now lobbying for similar relief. Industry body, Aluminium Association of India, met Mines Minister Piyush Goyal on…

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Russian steel miner Evraz’s half-year revenue fell due to weak steel prices and low demand but remains “cautiously optimistic” for the second half of the year. For the six months ended 30 June, revenue decreased by 27.6% to $3,543m, compared to the same period last year. Evraz said it was…