New developments continue to signal coming improvements in Chinese steel production. Among these is a forecast of prospects for the country’s vehicle sector and shipyards. This would ultimately thaw out the Sino-Australian relationship. One of the world’s biggest steelmakers, China’s Baowu Steel Group Corp., is keen to seek closer ties with Aussie iron ore miner […]
Category: Carbon Steel
How ERP Systems Impact the Steel Industry: A Discussion by EOXS
MetalMiner’s own CEO Lisa Reisman caught up with Ravi of EOXS to discuss how ERP systems aid the steel industry, including both steel service centers and distributors. Currently, MetalMiner is looking to add ERP solutions to its metal price forecasting platform, MetalMiner Insights. EOXS, who specializes specifically in integrating ERP solutions into steel service centers, […]
Capitiano Tailored Automation and Pomini Upgrade Ovako’s Steel Bar Mill
Steel news sources report that Italy’s Capitiano Tailored Automation (AIC) has partnered with Pomini Long Rolling Mills. Together, the companies signed an agreement with Swedish specialty steels group Ovako to modernize the company’s Hällefors bar mill. In a February 9 statement, AIC explained the details of the contract. First and foremost, it stipulates that AIC […]
Construction MMI: Bar Fuel Surcharges Drop, Steel Prices Edge Up
The Construction MMI (Monthly MetalMiner Index) traded sideways, rising by just 1.97%. The index was pulled in multiple directions month-over-month, resulting in a lack of major movements. For instance, bar fuel surcharges dropped, while steel rebar, h-beam steel, and sheet aluminum all went up. This recent rise in steel prices has left the index facing […]
Several Turkish Steel Mills Suspending Operations After Earthquake
Several steel mills in central and southern Turkey have suspended operations, declaring force majeure. The decision comes after two earthquakes struck those areas and Syria on February 6. Flats and longs producer Isdemir, in Iskenderun, Hatay Province, said in a February 13 announcement that it is currently performing assessments. “Production has been suspended until the […]
Raw Steels MMI: U.S. Steel Prices Continue Uptrend
U.S. steel prices continue to rise amid ongoing price hikes from domestic steelmakers. The ascent for HRC prices accelerated throughout January as they jumped by over 10%. Meanwhile, plate prices returned sideways with a modest month-over-month rise of just under 2%. Of course, this came after prices traded down throughout December. Overall, the Raw Steels […]
Administration Forces UK Steel Manufacturer Aartee Bright Bar into Distress
Steel news continues to cover the announcement that UK steel producer and distributor Aartee Bright Bar (ABB) has gone into administration. The move came after ABB’s commercial financier, FGI, decided to enforce its debts against the company. According to a February 7 report from Sky News, the West Midlands-based business appointed New York-headquartered Alvarez & […]
Steel Producers Avoid a Crisis During Turkish/Syrian Earthquake.
According to MetalMiner sources, the earthquakes that struck Turkey and Syria on February 6 have not damaged the area’s steel manufacturing plants. The first jolt struck at 4:17 AM local time, just west of Gaziantep. The 7.8 magnitude quake caused widespread damage and destruction across both Turkey and Syria. To make matters worse, a second […]
Is the Face of the Steel Industry Changing?
After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just […]
NLMK La Louvière Mill to Stay Shuttered Until Summer
In steel news, Belgium’s NLMK La Louvière is unlikely to resume operations at one of its two hot rolling mills before summer in Belgium. NLMK shuttered the mill after a series of fires in late 2022 knocked it out. “One of the two lines does not work at all,” a source close to the plant […]
