Formosa Steel hikes HRC prices by $145/mt
Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) hiked HRC prices for May and early June shipments following a rise in global steel prices which have spiked to a decade’s high. On April 12, the steelmaker raised HRC prices by $145/mt to equivalent levels of $910/mt for shipments scheduled for May and early June. Despite […]
India’s auto production jumps 67pc in March
Total auto production in India in March was reported at 2.36mn units, up 67pc from the prior year month, according to data released by Society of Indian Automobile Manufacturers (Siam). Passenger vehicles segment witnessed a sharp jump in production of 74pc to 334,349 units in March from the preceding year period which pushed total […]
Iran’s iron ore concentrate output up 5pc
Iran’s iron ore concentrate production in the Iranian year 1399 (Mar 21, 2020-Mar 20, 2021) stood at 49.7mn mt, up by 5pc as compared to the preceding year, according to local media reports citing data released by the Industries Ministry. Of the total iron ore concentrate output during the year, Gol Gohar produced 16.2mn mt, […]
Central Asia Metals’ output dips in Q1
UK-headquartered Central Asia Metals’ copper, lead and zinc output was lower in Q1 FY2021 compared to the prior year with the drop in copper production being more severe than others metals, according to a company release on April 13. Central Asia Metals’ copper production in Q1 dropped to 2,880mt, down 10pc from the prior […]
Supporting shredder parts exclusion from tariffs: ISRI
The Institute of Scrap Recycling Industries (ISRI) has supported the exclusion of shredder wear parts from section 301 tariffs in its recently submitted comments to the Office of the U.S. Trade Representative (USTR). ISRI has explained why the exclusion on shredder wear parts should be reinstated and how the tariff has caused economic harm […]
SAIL reports 36pc jump in November sales
Steel Authority of India reported a 36pc rise in sales volume in November 2019 compared to previous year. Government owned, Steel Authority of India Limited (SAIL) sales volume was at 1.41mn mt during November 2019 as compared to previous year, stating it as one of the industry’s best. The company is focusing on […]
Supply side pressures growing in China
China lax on overcapacity controls into 2019. China’s Ministry of Industry and Information Technology recently warned that the steel sector is facing illegal capacity from new unapproved mills and from those that were expected to be shut down in capacity swaps. A trend of growth in crude steel production.In the first eight months of 2019, China increased […]
Global Primary Aluminum Production Remains Flat for September 2019
The September 2019 Global Primary Aluminum Production numbers have remained unchanged from August 2019. With Q3 results being released from all countries except Asia (estimates), primary aluminum production were unchanged at 5,163, 000mt for the month. Market Development: With news of the global aluminum production moving within a narrow range since August, the Davis […]
Excel Recycling shredder license restored
A Superior Court ruling on October 3, 2019, has ordered the license reinstatement of Excel Recycling, located in Freetown Massachusetts. After receiving complaints from residents about noise and emissions coming from Excel’s scrap metal processing plant, Freetown’s Board of Selectmen denied its license renewal on December 5, 2018. In 2015 Excel began its […]
Softening Prices, Excess Inventory Impact Nucor’s Earnings
A softening market for plate and sheet steel products and excess inventory affected Q3 bottom line of Nucor Corporation. The company announced net earnings of $275mn, or $.90 per share in Q3, down from $676.7mn or $2.13 per share during the same period last year. Its net sales declined to $5.46bn, down 19pc from $6.74bn […]