NEWS

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Aion Capital Partners -- a joint venture venture between Apollo Global Management, one of the world's largest distress asset investors, and ICICI Venture is planning to throw a lifeline at the troubled steel maker Uttam Galva Aion is in talks with the promoters of Uttam Galva SteelsBSE -4.93 % and…

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The Hong Kong stock exchange plans to launch a U.S. dollar-denominated, cash-settled iron ore futures contract in Hong Kong this year, it said on Thursday, as the market operator aims to compete with U.S. and Asian rivals. In a statement, the Hong Kong Exchanges and Clearing Ltd (HKEX) also said…

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Great Lakes steel production ticked up to 667,000 tons last week, a 0.7 percent increase over the 662,000 tons of output the previous week. Domestic steelmakers used about 72.3 percent of their steelmaking capacity in the week that ended Jan. 14, up from 71 percent the previous week, according to…

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Chinese steel and iron ore futures fell for a second session on Thursday as demand for the commodities turned tepid ahead of the Lunar New Year holiday late next week. Iron ore dropped from a three-year high reached on Wednesday and traders say that could pull down bids for physical…

Thursday, Jan 19, 2017
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Steel Authority of India has managed to widen its export base to Europe with Rourkela Steel Plant (RSP) flagging off its maiden export consignment from its new Plate Mill on Tuesday The consignment, which consists of High Tensile Plates with CE (European Confirmity) marking, is the first-of-its-kind for the Plate…

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Steel prices in China have continued their lofty advance, with the upside coming from the country’s announcement that it will further cut its steel capacity in 2017. Shanghai steel prices climbed further this week, and are now up 16% year-to-date. China plans to move forward with steel cuts in 2017,…

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Brazil's crude steel production in December was down 12.7% at 2.14 million mt from 2.46 million mt a year earlier, steel institute Aco Brasil said Tuesday. In full-year 2016, crude steel production totaled 30.21 million mt, compared to 33.24 million mt in 2015. Production of finished steel products in December…

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In reaction to an anti-dumping investigation launched by the U.S. against the Turkish steel industry and the imposition of additional tariffs, Turkey is planning to file a complaint to the World Trade Organization (WTO) against the U.S. Economy Minister Nihat Zeybekçi in a recent statement described the anti-dumping investigation and…

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Outokumpu Long Products has won a contract to provide 1,600 metric tons stainless steel rebar for The Sheikh Jaber al-Ahmad Al-Sabah project in Kuwait. The contract is with Hyundai Engineering & Construction of South Korea to supply stainless steel rebar in grade Forta? DX 2304 from the Bar Mill in…

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Private steel major Tata Steel’s Noamundi Iron-ore mine in West Singhbhum district of Jharkhand is all set to become the first mine of the country to launch ‘Drone Application in Mine Monitoring' on Monday. Noamundi Iron Mine of Tata SteelBSE 1.62 % will become the first mine in India to…