[Industry news] Chinese steel rebar and iron ore futures continue to slide2014-02-28
2014-02-28
Reuters reported that Chinese steel and iron ore futures dropped for a sixth day in a row trading near all time lows, as worries over the Chinese economy blurred the demand outlook.
[Industry news] Bottoming steel scrap and billet levels might kick start buying activity2014-02-27
2014-02-27
After severe mauling over the past 3 weeks during with scrap and billet levels plummeted by USD 30 per tonne and USD 15-20 per tonne respectively bottom seems in vicinity.
Some recent transactions of rebar and billet UAE and Turkish mills albeit at low levels indicates increasing interest in buying lest the price goes up with warming weather.
[Industry news] IMF predicts higher global growth but warns of risks2014-01-20
2014-01-20
Reuters reported that the International Monetary Fund expects global growth to pick up this year, though deflation is a rising risk as long as economic growth stays below what policymakers believe is optimal.
Ms Christine Lagarde MD of IMF expressed concern about price growth remaining below the target of many central banks, which could hurt the nascent recovery. If inflation is the genie, then deflation is the ogre that must be fought decisively.
[Industry news] Steel fabricator AIM Steel eying expansion amid positive order book2014-01-16
2014-01-16
US based AIM steel international Corp, which has undergone phenomenal developments through mergers and acquisitions during 2012 and 2013, is upbeat on business prospects in 2014
[Industry news] Slow growth in South Africa metals sector a concern - Seifsa2014-01-13
2014-01-13
The Steel and Industries Federation of SA (Seifsa) said that slow growth in the metals and engineering sector is cause for concern. The latest production data for November showed only 2% increase in the sector for 2013 compared to 2012.
[Industry news] Rebar declines in Shanghai after biggest producers lower prices2014-01-06
2014-01-06
Bloomberg reported that steel reinforcement-bar futures fell in Shanghai, set for a fourth weekly loss, after the biggest steel producers across China cut prices amid slowing demand.
[Industry news] Indian steel mills hike prices for January shipments2014-01-03
2014-01-02
It is reported that some of the Indian steel mills, on the anticipated lines, have increased prices of various steel products by up to INR 1,000 a tonne to INR 2000 per tonne for different products
While they have cited higher costs of iron ore and increased railway freight charges (About INR 700 per tonne) as the driver for this decision, several other factors seem to have given them the courage to go for hike despite dismal demand conditions
[Industry news] Chinese flats suppliers eying for recovery before the Spring Festival2014-01-02
2014-01-01
Despite gloom writ large in Chinese steel market despair is the last word in the global depository of steel. Churning out volumes in the worst of times is miracle witnessed only in China and the hope for revival never dies.
[Industry news] EU launches probe into Germany's energy subsidy system2013-12-30
2013-12-30
An energy subsidy system which benefits more than 2,000 key players in Germany's heavy industry sector including BASF and ThyssenKrupp AG is being investigated by the European Union.
[Industry news] Global November 2013 crude steel production update2013-12-23
2013-12-23
World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 127 million tonnes in November 2013, an increase of 3.6% compared to November 2012.