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WEEKLY STEEL SCRAP:

Turkey keeps buying, Asia bulk markets go quiet

14 June 2020 - 00:45
Turkish steel producers remained active in the market for import scrap in the week ending Friday June 12, while prices for bulk scrap in Japan and Vietnam appear to hit a ceiling as activity slowed.

Steel import price recovery persists in South America on stronger demand, currency

14 June 2020 - 00:43
Prices for flat-rolled steel imported into South America continued to recover during the week to Friday June 12 as more increases were issued - mainly by Chinese and Japanese mills - for August-shipment cargoes.

Amended EU safeguard measures to result in HRC import volume drop, hurt independent distributors, Assofermet says

14 June 2020 - 00:39
The proposed changes to existing EU safeguard measures for hot-rolled coil would result in a drop in import volumes and consequently injure independent distribution in Europe, Italian steel distributors’ association Assofermet said in a letter to the European Commission (EC).

Indonesia to ask Freeport to build copper smelter

7 June 2020 - 02:16
The Indonesian government will ask PT Freeport Indonesia to build a copper smelter in Weda Bay, a newly built metal industrial park in Halmahera, the senior minister overseeing mining said on Friday.

MMK and SMS group managed to implement targeted commissioning despite extremely difficult conditions

6 June 2020 - 00:51
In 2018, Magnitogorsk Iron & Steel Works (MMK), Russia, has awarded an order to SMS group covering the extensive modernization of the finishing mill mechanical equipment and the fundamental revamp of the electrical and automation system of hot strip mill 2500 at the Magnitogorsk site.

Kobe Steel turns non-standard compressor affiliate in China into subsidiary

5 June 2020 - 01:17
Kobe Steel, Ltd announces that it has turned its Chinese affiliate, Wuxi Compressor Co., Ltd., into a subsidiary after acquiring additional shares in the company in April 2020. Based in Wuxi, Jiangsu Province, Wuxi Compressor manufactures designs and sells non-standard (process gas) compressors, a core component used in petroleum refining, chemical and natural gas plants.

China pig iron buying spree extends into 2020

31 May 2020 - 04:27
Chinese demand for seaborne basic pig iron (BPI) increased sharply in the first quarter, continuing a trend from late 2019 of supporting the market when primary buyer US is on the sidelines.

China ferrous scrap usage surged in 2019

31 May 2020 - 04:25
China's consumption of ferrous scrap grew by 15pc on the year in 2019 to 215.93mn t, according to statistics released today by the Bureau of International Recycling (BIR).

Eurofer seeking CVD on Turkish HRC

31 May 2020 - 04:19
European steel association Eurofer has filed an anti-subsidy complaint against Turkish exporters of hot-rolled flat steel with the European Commission, alleging that low-priced and subsidised imports are harming the European market.

Tight supply accelerates Tokyo Steel scrap price hikes

31 May 2020 - 04:17
Higher export prices of Japanese ferrous scrap prompted Japan's largest electric arc furnace mill to raise domestic collection prices today, marking the third increase in eight days.
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