[Industry news] Macroeconomic indicators - China September trade surplus down 44.7%2013-10-14
2013-10-13
China’s trade surplus narrowed to a disappointing USD15.2 billion in September from USD28.6 billion in August, customs figures showed yesterday. Exports fell 0.3% year on year to USD185.64 billion last month, while imports increased 7.4% to USD170.44 billion.
[Industry news] Sinosteel and Hansteel Group inks strategic cooperation agreement2013-10-12
2013-10-12
On September 27, the signing ceremony of Sinosteel and Hansteel Group Strategic Cooperation Agreement and for cooperation in iron ore and steel products business was held in Sinosteel headquarters.
[Industry news] Coking coal market showing telltale signs of improvement2013-10-09
2013-10-09
Coking coal market off late has exhibited signs of firming up in the spot market despite Chinese sluggishness. Demand in rest of Asia viz., Japan seems strong. Under the new economic policy of PM Abe Japanese mills are showing distinct signs of hiked steel production as construction and export picks up in Japan. Europe is starting to come back and is neutral to positive in the short term with winter stocking of steel and coke likely to pick up in the coming month.
Brazil sets AD duty on certain stainless cold rolled coil imports2013-10-09
2013-10-08
The Brazilian industry and foreign trade ministry's commerce chamber, Camex, has announced that it has imposed an antidumping (AD) duty on austenitic stainless steel cold rolled coil imports from Germany, China, South Korea, Finland, Taiwan and Vietnam. The antidumping duty which will be valid for five years varies from $235.59/mt up to $1,076.86/mt.
[Industry news] ArcelorMittal issues statement on pending investigation in France2013-09-24
2013-09-24
This situation relates back to the merger between Arcelor and Mittal Steel in 2007. Following completion of this merger, certain hedge funds or their representatives brought legal proceedings regarding the exchange ratio and the merger process as a whole. Complaints in this respect have so far been dismissed by the Dutch securities regulator and by courts in the Netherlands and Luxembourg, where an appeal remains pending. Monetary damages claimed in the Luxembourg case amount to EUR 180M. In addition, a civil proceeding was initiated in France, which was not the domicile of either company involved in the merger, in 2012 claiming monetary damages of about EUR60K
[Industry news] Latin America finished steel apparent use and production update2013-09-22
2013-09-22
Finished steel apparent use in Latin America and de Caribbean reached 38.7 million tonnes in January/July 2013, while finished steel production was of 32.4 million tonnes, both figures dropped 1% compared to same period of 2012
[Industry news] Indian iron ore mining mess - IAS officer arrested2013-09-23
2013-09-22
The Hindu Business Line reported that Senior IAS officer Mr Shivalinga Murthy was arrested in connection with the iron ore mining scam involving G Janardhan Reddy's Bellary based Associated Mining Company.
[Industry news] Indian Railways switch over to e-auction mode for scrap disposal2013-09-16
2013-09-16
LiveMint reported that to bring more transparency in the bidding process, railways have switched over completely to e-auction system for disposal of scrap eliminating need for physical bidding by purchasers.
[Industry news] Chinese steel exports in August crosses 6 million tonne mark2013-09-10
2013-09-10
In August this year, China exported a total of 6.14 million tonnes of finished steel, up by 44.8% YoY, with the monthly export volume thus exceeding 6 million tonnes for the first time since October 2008, as announced by the Chinese customs authorities.
[Industry news] Chinese steel exports to Latin America hit record high2013-09-09
2013-09-08
According to the report “Quarterly Monitor: China Latin America” published by Alacero the Latin American Steel Association, during the second quarter of 2013 the region continued to be the second most important destination for Chinese finished steel, only surpassed by South Korea. Along with Vietnam and the European Union, these 4 destinations concentrate 40% of the Chinese shipments to the world.