NEWS

China’s steel output rose in July to a fourth straight monthly record as mills ran full tilt to cash in on strong profit margins, despite anti-smog measures imposed by local governments. Mills in China, the world’s top steel producer, churned out 81.24 million tonnes of crude steel last month, up…

China’s primary aluminum production climbed 12 percent in July from the same month a year earlier, equaling its monthly record, as new smelters took output back toward the level that preceded capacity closures in mid-2017. The world’s biggest aluminum producer churned out 2.93 million tonnes of the metal last month,…

The National Company Law Appellate Tribunal (NCLAT) ruled that Anil Agarwal-controlled Vedanta is eligible to acquire the stressed ElectroSteel dismissing an appeal from Renaissance Steel that challenged the sale award under corporate insolvency and bankruptcy proceedings. Electrosteel failed to repay more than Rs 13,000 crore bank loans. “We are not…

Shanghai rebar futures pared early gains to close lower amid China’s intensified trade dispute with the United States and worries about slowing growth, although weekly inventory data showed firm demand from downstream sectors. This week, the U.S.-China trade war escalated as the world’s two largest economies continued their tit-for-tat tariff…

France- based Jacquet Midwest, a service-oriented stainless steel and nickel alloy processing company, purchased ten acres of the Southside Industrial Park for its new headquarters in Racine, Wisconsin. Jacquet, currently located in a 40,000-square-foot leased facility on 1908 DeKoven Avenue, plans for the new Jacquet site to include the construction…

Synergy Steel plans to establish new operations in Lancaster County, South Carolina. The $2.8 million investment is projected to create 139 new positions. The company provides solutions to the housing and construction industry through the collaboration of light gauge steel manufacturing and innovative framing and panelization techniques. Synergy Steel’s process…

China’s iron ore imports rebounded in July, customs data showed on Wednesday, buoyed by record steel production and strong margins as official measures to cut pollution curb the output of cheaper products from small mills. The world’s top iron ore importer bought 89.96 million tonnes of the steel making raw…

Argentina’s CNDC antitrust regulator said on Tuesday it would launch a probe into whether steel company Acindar [ACIX.UL] had abused its dominant position in the market for long steel products, which are widely used by the construction industry. The CNDC said Commerce Secretary Miguel Braun instructed the agency to investigate…

Amfabsteel Inc. has announced plans to add another 75,000 square feet to its manufacturing plant in Bernalillo. The 35-year-old company makes steel beams and columns for use in building schools, casinos and hospitals, among other projects, said Denice Tally, the company’s special projects coordinator. Locally, the company supplied steel to…

Chinese iron ore futures surged nearly 7 percent to their strongest level since March on Monday, supported by strong margins at China’s steel producers as Beijing’s anti-pollution fight tightens supply in the world’s top producer. China’s eastern Shandong province is the latest to unveil plans to cut steel capacity, as…