Indian steel industry leader Tata Steel recently announced that it had signed a contract with an Italian company to install a new electric arc furnace at its Port Talbot facility in Wales. Tata stated in an October 18 announcement that Lombardy-headquartered Tenova is to supply one EAF with an annual capacity of 3 million metric […]
Category: Carbon Steel
Europe’s Steel Price Surge: Will Buyers Bite?
Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 ($650) EXW per metric ton, reflecting an increase from deals that were as low as €520-530 […]
China’s Economic Struggles: Why Cutting Rates Isn’t Enough to Boost Steel Demand
No matter the type or amount of stimuli put in by the Chinese Government, the country’s economy is just not getting back into revival mode. Meanwhile, China’s beleaguered steel industry continues to suffer. As part of efforts to boost economic growth, China cut down its benchmark lending rates after the apex bank lowered interest rates […]
Jindal Group Secures European Foothold with Acquisition of Vítkovice Steel
India’s Jindal Group has acquired Czech flats producer Vítkovice Steel. The Ostrava-based company released the information to steel news outlets on October 7, stating that Jindal will acquire a 100% stake in the company from its current owners, subject to clearance from anti-monopoly authorities. “Vítkovice Steel has been cooperating with Jindal Group for more than […]
ArcelorMittal’s New Ladle Furnace Powers Up for a 10% Carbon Cut
Steel industry leader ArcelorMittal recently commissioned a new, two-stand ladle furnace at its Fos-sur-Mer site in southern France. The Luxembourg-headquartered group stated that the furnace will cut carbon emissions from the flats producer by up to 10%. In an October 3 announcement, ArcelorMittal stated that each of the two stands on the new equipment can […]
Tata Steel’s High-Stakes Bet: £500M Government-Backed Plan to Modernize Port Talbot
After signing a grant funding agreement with the UK government, Tata Steel is eyeing a 2027 start-up of two new electric arc furnaces at its Port Talbot plant in Wales. Many in the steel industry consider the switchover to be a real test for Tata, the UK government, and “green” technology. “Tata Steel has already […]
Raw Steels MMI: Steel Prices Remain Sideways Ahead of Cuts
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 2.34% decline from August to September. U.S. steel prices trended either sideways or down over recent weeks. HRC and CRC prices appeared to find a bottom in August but did not show enough momentum to the upside to form an uptrend. Meanwhile, HDG prices […]
Renewables MMI: China’s New Decarbonization Initiatives, What it Means for Steel and Aluminum Buyers
The Renewables MMI (Monthly Metals Index) finally witnessed a significant increase in price action for the first time in a year. In total, the index ascended by 9.97%, drawing fresh attention to renewable resources. The main culprit for the increase in price action was a significant rise in neodymium prices, likely in response to China’s […]
9 Months of Limbo for Nippon Steel’s Buyout of U.S. Steel: Will it Happen, or Not?
Due to numerous obstacles, Nippon Steel’s $14.9 billion proposed acquisition of U.S. Steel has been on hold for nine months. The agreement is currently under investigation from all angles, with heavy resistance from steel industry labor unions and politicians. For manufacturers and procurement specialists involved in the metal supply chain, comprehending the details of this […]
Chinese Steel & Aluminum Buyers: Brace for Oncoming Crackdown!
It has been in the works for some time now. China is finally all set to add industrial metal sectors like steel and aluminum as well as cement to its national carbon trading market. According to media reports, the change will happen by the end of 2024. Essentially, this means domestic steel, aluminum and cement […]
