September 2015

Australia slashes iron ore price forecast yet again

Australia has cut its iron ore prices forecast for 2015 to $53 per tonne fob amid increasing supply, “predominantly” from the country itself.

Steel plate prices in Europe slide on limited demand

Prices for of imported and domestic steel plate in the European Union have fallen over the past week, due to sluggish demand in the region, sources told Steel First on Wednesday September 30.

Aggressive Ilva offers drag down coil prices in Southern Europe

Italian steelmaker Ilva reduced its coil prices this week, further increasing pressure on other mills in Southern Europe, sources told Steel First on Wednesday September 30.

Japan's Kobe Steel cuts profit forecasts on China slowdown

Japan’s Kobe Steel has revised downwards its forecast for net sales revenues and profits in its 2015 business year, due to the economic slowdown in China and steel production issues at home.

CANACERO: Mexico's import duty protects sector while trade cases advance, assn says

The temporary duty imposed by the Mexican government on imports of five steel products will protect the country's steel industry while ongoing trade investigations are concluded, Canacero's md told Steel First.

Sundance rejigs funding to move on with Central Africa iron ore project

Australia-listed junior iron ore miner Sundance Resources has re-arranged its existing funding and raised further capital to be in a position to push ahead with its Mbalam project in Central Africa, it said on Wednesday September 30.

Falling domestic coil prices in N Europe fail to revive buying interest

Falling domestic steel coil prices in Northern Europe have so far failed to inspire much demand, with buyers expecting prices to drop further still, sources told Steel First on Wednesday September 30.

CANACERO: Ahmsa importing 30,000 tpm of slab from Brazil, Russia

Mexico's largest integrated steelmaker, Altos Hornos de México (Ahmsa), is buying slab in the international market to feed its local mills, the company’s ceo Alonso Ancira Elizondo said on Tuesday September 29.

S European rebar exporters glum amid low Algerian trade, bids

Rebar prices for Southern European exports and Algerian imports softened, with a deal and bids coming in at lower levels this week, sources told Steel First on Wednesday September 30.

Brazil's capital goods sector revenues drop 11% in August

Brazil’s capital goods revenues fell by 10.7% year-on-year in August, to 6.9 billion Reais ($1.68 billion), according to figures released by the country’s capital goods association, Abimaq.