June 2014

South Korea’s trade minister weighs in on dumping case

South Korean Minister of Trade, Industry and Energy Yoon Sang-jick has called on the US Commerce Department to make its final determination in an ongoing oil country tubular goods (OCTG) dumping investigation in a "fair and objective way."

US stainless steel base price push drawing flak

US stainless mills appear to be pushing to change decade-old published base prices, a sign of market strength, but the move has some distributors up in arms.

Mexico’s iron ore output down 3% in April

Mexico’s iron ore production decreased by 2.9% year-on-year in April, according to figures released by the national statistics agency, Inegi, on Monday June 30.

Malaysia's Hiap Teck Venture reports 3.9% fall in pre-tax profit for Feb-Apr

Malaysia-based Hiap Teck Venture has reported a 3.9% drop in pre-tax profit for the three months ending on April 30, due to weak prices for steel products.

Spanish steel market outlook 'positive', Unesid says

Signs of improving conditions in the Spanish steel market are not reflected in last month’s crude steel figures, Spanish steel association Union de Empresas Siderurgicas (Unesid) said on Monday June 30.

Venezuela's Sidor in talks with trade union over wage increase

Venezuelan state-owned steelmaker Sidor is in negotiations with its unionised workers on a potential wage increase amid frequent protests and strike action.

European domestic stainless steel grade-304 index falls $4

Steel First’s grade-304 stainless steel European raw materials index was down by $4.22 week-on-week on Monday June 30.

Anglo American looking to sell assets amid low prices, labour woes

South African mining major Anglo American has put a number of assets up for sale in a bid to boost returns for shareholders.

Northland suspends payments to creditors, suppliers

Swedish iron ore concentrate producer Northland Resources has decided to temporarily suspend payments to its creditors and suppliers with effect from Monday June 30.

Russian HR sheet edges down, CR sheet price stable

Russian domestic hot rolled (HR) sheet prices edged down, while the cold rolled (CR) sheet prices remained unchanged over the past week, market participants told Steel First.