This morning in metals news, the Japanese steel industry’s output is expected to grow next year, lenders have a new plan for Essar Steel, and China’s zinc and copper outputs in November were at their highest since late 2014.
Japanese Steel Sector Set to Ramp Up Output
According to the Japan Iron and Steel Federation, the country can expect to see increased crude steel output in 2018 and 2019.
According to Reuters, Kosei Shindo, the chairman of the Japan Iron and Steel Federation, said “I hope that crude steel output (for next business year) would exceed 10.6 million tonnes.”
A New Plan for Essar Steel
In its insolvency proceedings, lenders to Essar Steel have reduced the time allowed to resolve the firm’s default, according to a report by the Economic Times.
The “single stage” process, according to the report, means any interested bidder has to meet both the conditions to be considered by the bankers, according to the report.
China Zinc, Copper Output Up
China’s output of copper and zinc in November was at its highest since December 2014, according to Reuters.
According to the report, China’s refined copper output increased 9.8% to 786,000 tons, while zinc production rose 7.5% to 603,000 tons.