The London Metal Exchange will launch a discussion paper proposing changes
to current warehouse rules, including relaxing queue-based rent capping to 80 days, chief executive officer Matthew Chamberlain said.
Liberty Steel USA, a subsidiary of GFG Alliance, is considering expanding
crude steel capacity at its newly acquired Keystone Consolidated Industries (KCI) wire rod mill in Peoria, Illinois, by 300,000 tons per year. Liberty Steel said it also is “looking closely” at restarting the second electric-arc furnace at its rod mill in Georgetown, South Carolina, potentially adding up to 500,000 tpy of capacity at that mill.
Definitive measures proposed by the European Commission in the region’s safeguard case against steel product imports are unlikely to have any major effect
on Europe’s imports of flat steel, market sources have told Fastmarkets.
Major steel mills in China have set their ferro-silicon tenders for January
at prices that are lower than those settled for the prior month due to a less urgent need to restock, market sources told Fastmarkets MB.
Indian aluminium producer Vedanta is set to increase
its primary foundry alloy and aluminium-silicon t-ingot production to 300,000 tonnes by the end of 2019 from 30,000 tonnes currently.