In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]
Tag: Steel
A Blow to China’s Steel Dumping Tactics: Triple Tariffs
New China tariffs may soon change the country’s steel market tactics. China continues to sit on a stockpile of steel, and it has no idea what to do with most of it. The exception, however, seems to be dumping it into foreign markets for cheap under the guise of “exportation.” China remains unable to use […]
ThyssenKrupp Responds to Market Turbulence with Bold Production Cuts
Germany flats producer ThyssenKrupp Steel (TKS) recently announced plans to cut its production capacity by an average of 19.5%, citing current market conditions as the main reason. Indeed, the European steel industry continues to face a wide range of challenges, including economic challenges and surging energy costs. “The aim is to make ThyssenKrupp Steel fit […]
Tata Steel Workers to Strike Against Port Talbot Blast Furnace Closures
Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata […]
Raw Steels MMI: Steel Prices Flatten, Is an Uptrend Next?
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the […]
Liberty Steel’s Ambitious Expansion Strategy Revealed: Hiking Capacity at Rotherham Plant
Liberty Steel recently announced a restructuring plan for its operations in the United Kingdom after signing a new framework agreement with creditors. Among other things, the ambitious plan includes hiking crude steel manufacturing capacity at its Rotherham plant. The London-based company noted that the plan would see Liberty consolidate all its operations in the UK […]
Liberty Pipes Hartlepool Chosen for £4 Billion Energy Infrastructure Deal
Liberty Steel recently won a contract to supply pipelines from its Hartlepool steel manufacturing site in the United Kingdom for energy infrastructure and carbon-capture projects. Liberty’s parent company, GFG Alliance, said in a March 15 statement that Liberty Pipes Hartlepool (LPH), located in northeast England, will supply onshore and offshore pipes to the Northern Endurance […]
Trade Union Eyes Strike Ballot at Port Talbot
The latest steel news and sources from the UK indicates that the Community trade union plans to ballot its members at Tata Steel for strike action. The move comes amid plans by the company to replace two blast furnaces at the Port Talbot site with electric arc furnaces. “Community representatives from all Tata Steel UK […]
European Steel Prices Decline as Economic Woes Mount
Market sources report that hot rolled coil steel prices in northern and southern Europe continued to decline in recent weeks due to slowing economies in Europe as well as overcapacity. “I’m a little scared about Germany,” one trader told MetalMiner, referring to that country’s current economic situation. Germany’s economy is the largest in the European […]
Raw Steels MMI: Mills Lob Price Hikes at Bearish Steel Prices
The Raw Steels Monthly Metals Index (MMI) moved sideways amid bearish steel prices, with a modest 1.75% increase from February to March. U.S. flat rolled steel prices stayed bearish over the past few weeks. Meanwhile, HRC prices remained 22% beneath their peak at the close of 2023 as they search for a new bottom. However, […]
