NEWS

Chinese iron ore futures broke a 3-day losing streak on Tuesday, showing modest gains at the start of trade as investors refocused on China's robust steel sector and as some of the world's biggest suppliers struggle to meet output guidance. Australia's Fortescue Metals Group is expected to meet the low-end…

China's Hebei province will likely meet its annual target for reducing coal capacity by the end of September, official newspaper Hebei Daily reported on Sunday, citing information from the provincial planning body. Hebei, China's top steel producing province, expects to cut 12.38 million tonnes of coal capacity this year, well…

Severstal, one of Russia's largest steelmakers, said on Thursday its core earnings jumped 20 percent in the second quarter on higher sales and prices. Earnings before interest, taxation, depreciation and amortization (EBITDA) totaled $629 million, the company said, compared with $526 million in the same period last year. Russian steelmakers…

European steel association Eurofer criticized on Thursday measures set out by the European Commission to counter dumping of hot-rolled steel from Brazil, Iran, Russia and Ukraine. The Commission, which oversees trade policy in the 28-member European Union, has set out plans to levy tariffs of up to 33 percent on…

China's iron ore output jumped in June to its highest level since October 2015, data showed on Wednesday, the strongest sign yet that soaring prices have spurred miners in the world's top consumer of the steelmaking raw material to boost production. Output rose 5 percent from a year ago to…

Kloeckner Metals, one of the largest producer-independent distributors of steel and metal products, will invest $11.3 million to expand its manufacturing center in Greenville, South Carolina. The company ships carbon and non-ferrous metals from inventories stocked in 50 locations throughout North America and utilizes state-of-the-art processing equipment to meet the…

Great Lakes steel production rose to 669,000 tons last week, an increase of 2.2 percent. Steel mills in the Great Lakes region cranked out 654,000 tons of metal the previous week, according to the American Iron and Steel Institute. Most of the steel made in the Great Lakes region is…

Following declines in the previous months, ferrous scrap prices strengthened again on the German market in July. It was Turkish mills that provided the room for price increases. Market observers reported that steel makers in Turkey had full order books and the resulting demand for scrap was also high. Accordingly,…

The European Union is planning to impose duties of up to 33 percent on hot-rolled steel imports from Brazil, Iran, Russia and Ukraine to counter what it sees as unfairly low prices, according to a document seen by Reuters. The EU has over 40 anti-dumping measures to aid European steel…

China churned out record amounts of steel and aluminum in June as producers rushed to cash-in on rallying prices in the wake of a drive by Beijing to crack down on output of low-grade metal. That could fuel concerns the world's top steel producer will export more metal, stoking global…