October 2014

HOTTER ON METALS: Kuroda’s QE

Who said quantitative easing (QE) was over?

EU stainless sales competition toughens as year-end approaches

EU stainless steel sellers will scramble for business with demand expected to be limited until the year’s end, despite lower customer prices, sources told Steel First on Friday October 31.

S&P raises Schmolz + Bickenbach corporate credit rating

The corporate credit rating for stainless steel long products group Schmolz + Bickenbach (S+B) has been upgraded to B+ by Standard & Poor’s Ratings Services (S&P).

Japan’s steel exports up for first time in 13 months

Japanese steel exports moved up year-on-year in September after twelve consecutive decreases, fuelled by rises in hot rolled flat steel and special steel shipments.

Hyundai to fully replace Posco as Dongbu Special Steel’s supplier

South Korean steelmaker Hyundai Steel intends to supply all the steel needs of Dongbu Special Steel from the beginning of 2016 onwards, replacing fellow producer Posco.

Acerinox reviews management team, appoints independent director

Spanish stainless steel producer Acerinox has made changes to its management team and appointed a new director, it said in its third-quarter earnings report on Thursday October 30.

Acerinox Q3 earnings rocket on efficiency measures, US demand

Spanish stainless steel producer Acerinox nearly quadrupled its earnings in the July-September quarter, it said on Thursday October 30.

Stainless Steel Daily Alloy Surcharge Log, October 30, 2014

Latest surcharge: grade 304, 316, 2mm cold rolled sheet

NSSMC April-September profits exceed expectations

Nippon Steel & Sumitomo Metal Corp’s (NSSMC) ordinary and net profits for the first half of its 2014 financial year are higher than the Japanese steelmaker expected, it announced on Thursday October 30.

Hebei Steel cuts ferro-alloys prices for November

China’s largest steel mill, Hebei Steel, has cut its bid prices for silico-manganese and ferro-silicon November deliveries.