NEWS

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China’s iron ore futures recovered on Thursday after falling more than 4 percent in the past two sessions, but weak appetite for the high-priced raw material and doubts over actual supply disruption at the world’s biggest iron ore miner clouded the outlook. The most-active iron ore contract for May delivery…

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India is considering extending by four months a compliance deadline on tougher import rules for steel that are aimed at forcing automakers to use locally made alloy, said two sources familiar with the matter. Compliance to the new rules had been set for Feb. 17, which was an extension of…

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China’s aluminum exports surged to a record high in January, according to customs data released on Thursday, as weak domestic demand led to another bumper month of shipments overseas. Exports of unwrought aluminum and aluminum products from China, the world’s top producer of the metal, rose to 552,000 tonnes last…

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China’s iron ore futures fell for a third consecutive session on Thursday, reflecting weak appetite for the high-priced raw material and doubts over actual supply disruption at the world’s biggest iron ore miner after a fatal accident. The most-active iron ore futures on the Dalian Commodity Exchange dropped 0.5 percent…

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German steel-to-elevators group Thyssenkrupp on Tuesday warned of a darkening economic backdrop, including a weakening automotive market, signalling tough times for its capital goods business ahead of a planned separation. Shares in the group fell as much as 3.2 percent and traded near three-year lows after analysts said it would…

Wednesday, Feb 13, 2019
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JSW Steel Tuesday went procedurally a step closer to acquiring an asset in bankruptcy-induced ownership change after the administrator overseeing the sale of Bhushan Power and Steel issued a letter of intent (LoI) in favour of India’s biggest maker of the alloy. JSW Steel had made a Rs 19,650-crore offer,…

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Germany’s Thyssenkrupp and India’s Tata Steel will be warned this week that EU antitrust regulators could veto their planned European steel joint venture unless they offer concessions, people familiar with the matter said on Monday. The European Commission is expected to send a charge sheet known as a statement of…

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Southland Steel Fabricators Inc. will invest $18 million to expand to a second Louisiana site, with the creation of new fabrication and coating lines at the former Bradken foundry in Amite, Louisiana. To fabricate precision structural components for customers, Southland Steel has invested heavily in state-of-the-art fabrication equipment, including the…

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China iron ore futures rose to a record on Monday, the first session after a week-long national holiday, on concerns that supply from Brazil, the country’s second-largest ore supplier, may decline after a fatal dam accident at a Vale SA mine. The most-active iron ore futures for May delivery on…

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Russian aluminum giant Rusal said on Friday it sees demand for aluminum growing in 2019 with potential for prices to rise. In a filing, the Hong Kong-listed company also said the market for alumina, an oxide key to the aluminum smelting process, may be expected to be more balanced.  …

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