ThyssenKrupp has ended discussions with London-based Liberty Steel over the potential sale of the German conglomerate’s steel unit. The parent company made the announcement Wednesday evening, Feb. 17. “We opened the door for negotiations, but in the end our ideas about the corporate value and the structure of the transaction were far apart,” ThyssenKrupp Chief […]
Christopher Rivituso
ArcelorMittal steel output drops by one-fifth in 2020
Impacts from the COVID pandemic and asset sales saw ArcelorMittal report a 20.4% decline in its crude steel production in 2020. “The countries worst affected by COVID were the ones that saw drops in their production,” one industry watcher added about lower production at the group’s assets in Europe, Brazil and the United States. ArcelorMittal […]
Crude steel production at Evraz’s North American assets drops 15.1%
Crude steel production at Evraz’s North American assets dropped 15.1% year over year in 2020. The drop was due mainly to the COVID-19 pandemic’s impact on the global economy, the Russian group noted. Evraz output in North America drops Production for the 12 months totaled 1.58 million metric tons from slightly over 1.86 million tons […]
West Europe HRC under pressure on higher availability, Lunar New Year
Prices for hot rolled coil in Western Europe appear to be moving away from increases seen in late 2020, as steelmakers there and in Central Europe restart their own crude production and the Lunar New Year in China approaches, market sources told MetalMiner. “It looks they are more decreasing, rather than rising,” one trader said. […]
SSAB walks away from prospective IJmuiden acquisition
Swedish steelmaker SSAB has ended discussions with India’s Tata Steel over potential acquisition of IJmuiden plant, or Tata Steel Netherlands, the Stockholm-headquartered group stated Jan. 29. “After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework,” SSAB said in a statement. “Discussions with Tata […]
ACEA: COVID, buyer confidence strike E.U.’s 2020 passenger vehicle registrations
New passenger automobile registrations in the European Union fell by almost a quarter in 2020, due directly to the COVID-19 pandemic, the European Automobile Manufacturers Association (ACEA) said. “Indeed, containment measures – including full‐scale lockdowns and other restrictions throughout the year – had an unprecedented impact on car sales across the European Union,” the Brussels-based […]
Turkey steel exports draw interest due to location, lower costs
While Turkey’s finished steel products enjoy local demand, lower costs and the country’s location between Europe and Asia have also made steel exports from there attractive, market watchers told MetalMiner. Turkey’s trade in steel exports came to 9.4 million mt in the first seven months of 2020. The total is down 12.1% year over year […]
Severstal eyes North American market for LDP exports
Russia’s Severstal plans to target the United States and Canada as an export market for its large-diameter pipe (LDP) products from the Izhora Pipe Mill (ITZ), an official with the steelmaking group told MetalMiner. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Severstal looks abroad Lower consumption and a […]
U.S. government to refund NLMK subsidiary in settlement over import tariffs
The U.S. has agreed to refund “a significant portion, plus accrued interest” on an import tariff for slab imports to Russian steelmaking group Novolipetsk Steel’s U.S. subsidiary, the parent group said. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. U.S. subsidiary […]
High demand for HRC, low availability prompt Western Europe mills to seek price hikes
HRC mills in Western Europe continue to seek higher prices for hot rolled coil on high local demand and low availability, traders told MetalMiner. End users are also trying to hedge their positions because November and December are the two months when they build up stocks before year’s end, traders said. Cut-to-length adders. Width and […]