April 2015

Russia still plans new long steel capacity despite bleak prospects

An increase in Russia’s long steel production capacity is still planned for the next two years, despite pessimism over the prospects for the market.

Metalloinvest reports 4% drop in Q1 pellet shipments

Russian mining major Metalloinvest saw its iron pellet shipment volumes drop by 4% year-on-year in the first quarter of 2015, it said on Thursday April 30.

Indian mills will keep domestic HRC prices unchanged in May

Steel mills in India are likely to keep their prices for hot rolled coil (HRC) for domestic sales unchanged for the month of May, Steel First has heard.

Indian HRC exports under pressure from 'aggressive' Japanese, South Korean competitors

Indian steel mills are under pressure to reduce their hot rolled coil (HRC) export prices by at least $5 per tonne as they face stiff competition from Japanese and South Korean mills.

Brazil’s miner Vale 'well advanced' in further asset sales

Brazilian diversified miner Vale has been working on further divestments, which should be concluded by the end of this quarter and help to improve its cashflow.

CRC import offer prices to India up by $10 per tonne

Import offer prices in India for cold rolled coil (CRC) from China have increased by $10 per tonne compared with last week to $455-460 per tonne cfr Mumbai for June-July shipments.

Merger with Viohalco will give steelmaker Sidenor necessary financial support

Belgian metal processor Viohalco and Greek steelmaker Sidenor, neither of which has any current production activity, have merged, Viohalco announced on Wednesday April 29.

Vale prepared to replace some iron ore capacity to increase margins

Mining company Vale is “ready” to reduce iron ore production from mines with high costs and low-quality output, to replace it with new capacity, in order to increase margins, it said on Thursday April 30.

Vallourec to cut 2,000 jobs and shrink European tube capacity

French tube & pipe producer Vallourec will shrink its European tube capacity by one third and slash 2,000 jobs in a bid to reduce costs.

Severstal owner Mordashov steps aside to focus on other assets

The majority owner of Russian steelmaker Severstal, billionaire Alexei Mordashov, is to step down as ceo to take up the position of board chairman.