Italian government allocates Ilva investment funds
The Italian government has allocated €470 million ($553m) to becoming a shareholder in troubled ArcelorMittal Italia, formerly Ilva, through its investment body Invitalia. The state is carrying out due diligence to determine the true value of the steelmaker, after which it will decide whether it becomes Ilva’s majority shareholder, Kallanish learns from sources close to the matter.
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China’s exports slip but imports soaring
China saw its finished steel exports recover slightly on-month in July. Imports however continue to increase, and the country is expected to remain a net steel importer, Kallanish notes. In July, China exported 4.176 million tonnes of finished steel, up from 3.701mt in June but still down -25% year-on-year, according to official Chinese Customs data. That brought
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Outokumpu turns to loss, foresees lower third-quarter deliveries
Outokumpu expects stainless steel deliveries to decrease -10% on-quarter in the third quarter due to seasonally low demand in Europe and the continued Covid-19 pandemic impact. The firm has accelerated its Long Products segment strategic review under new management. The European stainless steel market remains challenging as a result of continuing import and price pressure, the
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Spanish union welcomes strike-ending deal at Nissan vehicles plant
Spain’s UGT Union said Aug. 6 it welcomed an agreement reached between automaker Nissan and striking workers at its Barcelona-based plant that confirms activity at the site until December 2021. The two sides reached an agreement Aug.5 after a consultation period concluded June 30, that will avoid the immediate closure of the plant, UGT said.
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Quotas to restrict Turkish steel exports to EU
With the EC’s new quota regulation, Turkey could face a 58% on-year decline in steel exports to the EU region, Adnan Aslan, chairman of Turkish Steel Exporters’ Association (CIB), told local news agency Dunya adding that Turkish mills’ overall steel exports in the first half of 2020 fell 10% on year to 9.7 million mt,
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NEWS
- Steel, iron ore fluctuate on import adjustments August 13, 2020
- Schmolz+Bickenbach sees dramatic slump in shipments, revenue August 13, 2020
- Noviostaal concurs with positive EU flats pricing outlook August 13, 2020
- Swedish scrap prices register first rebound since April August 13, 2020
- European HDG stable; automotive demand improves August 13, 2020
- Ferrum delivers pipe, purchases from Severstal Distribution August 12, 2020
- Europe demand lifts Severstal Distribution sales August 12, 2020
- EU stainless market may suffer until 2023 August 12, 2020
- Turkish steel exports soar in June; EU quotas to limit further sales August 12, 2020
- Cristian Lay gets approval to acquire Gallardo Balboa August 11, 2020
- Italian government allocates Ilva investment funds August 11, 2020
- China’s exports slip but imports soaring August 10, 2020
- Outokumpu turns to loss, foresees lower third-quarter deliveries August 10, 2020
- Spanish union welcomes strike-ending deal at Nissan vehicles plant August 10, 2020
- Quotas to restrict Turkish steel exports to EU August 10, 2020
- Shipyards face long lull, in Germany and elsewhere August 7, 2020
- EU widens China galv duties following circumvention probe August 7, 2020
- State support for construction to soften blow of plunging steel demand: Eurofer August 6, 2020
- EC extends dumping duties on Chinese coated steel August 6, 2020
- Der lange Weg zum „grünen“ Stahl August 6, 2020
- NLMK DanSteel supplies plate to Portugal wind farm August 6, 2020
- EU steel in ‘state of emergency’ as virus hastens decline: Eurofer August 6, 2020
- Inventory system improves NLMK La Louvière stock turnover August 6, 2020
- South Korea joins Turkey as main EU suppliers August 6, 2020
- New walking beam furnace improves thyssenkrupp sheet quality August 6, 2020
- EU consumption decline ‘unprecedented’, says Eurofer August 6, 2020
- EU trade agreement to benefit Vietnam steel industry August 6, 2020
- German distributors see only rebar sales increase August 5, 2020
- Aperam: EU should align quotas with Covid-19 demand August 5, 2020
- German mechanical engineering regains optimism August 5, 2020
- UK launches dumping investigation of steel wire imports from China August 5, 2020
- BDS: German distributors sell more to construction, less automotive August 4, 2020
- Bekaert forecasts gradual second-half recovery August 4, 2020
- Iron ore surges to one-year high August 4, 2020
- Weekly US steel mill capability utilization ticks up to 59.3% August 4, 2020
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Latest News
- Steel, iron ore fluctuate on import adjustments
- Schmolz+Bickenbach sees dramatic slump in shipments, revenue
- Noviostaal concurs with positive EU flats pricing outlook
- Swedish scrap prices register first rebound since April
- European HDG stable; automotive demand improves
- Ferrum delivers pipe, purchases from Severstal Distribution
- Europe demand lifts Severstal Distribution sales
- EU stainless market may suffer until 2023