NEWS

ArcelorMittal , the world’s largest steelmaker, is on track to win EU antitrust clearance to acquire Italian peer Ilva after agreeing to sell a number of significant assets across Europe, two people familiar with the matter said on Friday. ArcelorMittal has offered to sell its only galvanized steel plant in…

Chinese iron ore prices on Friday extended gains from a nearly 7-percent jump in the previous session, on track for their strongest week since December on expectations of increasing demand for restocking at steel mills. The most-active iron ore futures on the Dalian Commodity Exchange had risen 1.3 percent to…

Chinese iron ore futures soared nearly 7 percent on Thursday, hitting their highest in almost one month, amid expectations that a move by China’s central bank to reduce the amount of cash lenders keep as reserves would help spur steel demand. But some traders also say speculative trading activity may…

Chinese iron ore futures soared more than 4 percent on Thursday, supported by expectations that a move by China’s central bank to reduce the amount of cash lenders keep as reserves would help spur steel demand. But some traders also say speculative trading activity may be behind the price surge,…

Rising costs. Delayed shipments. A baffling bureaucracy. President Donald Trump's tariffs on imported aluminum and steel are disrupting business for American companies that buy those metals, and many are pressing for relief. Hundreds of companies are asking the Commerce Department to exempt them from the 25 percent steel tariff and…

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA reactivated a blast furnace on Tuesday and announced plans to raise domestic steel prices in June, but executives warned that new investment would depend upon political developments. Shares of the company, known as Usiminas, rose over 2 percent on Tuesday on the…

Brazilian steelmaker Companhia Siderurgica Nacional is in talks to sell a U.S. unit to Steel Dynamics Inc for around $250 million, according to a report in the newspaper O Estado de S. Paulo on Tuesday. The unit, based in Terre Haute, Indiana, has 350,000 tonnes a year in capacity, the…

China’s steel producers ramped up output in March to the highest level since September, with mills in the world’s top market for the metal rushing to boost operations after winter restrictions to prevent smog were lifted in the middle of the month. China last month churned out a total of…

Tokyo Steel Manufacturing Co Ltd , Japan’s top electric-arc furnace steelmaker, on Monday said it would hold product prices steady in May due to slow local demand. The decision marks three months of price freezes by the company. Tokyo Steel’s pricing strategy is closely watched by Asian rivals such as…

Steelmaker ArcelorMittal has submitted divestment proposals to the European Commission as part of its aim to secure competition clearance for its purchase of Italian steelmaker Ilva. ArcelorMittal claims that the proposed divestment package addresses concerns raised by the EU during its review of the Ilva takeover. The Commission opened an…