April 2017

Tata Steel board approves plan to issue $1.39bn in securities

The board of Indian steelmaker Tata Steel has approved the issuance of debt securities, up to a total of Rs90 billion ($1.39 billion), the company said in a corporate filing to the BSE, the Indian national stock exchange, late on Thursday April 20.

Asian slab buyers caught between high offers, plunging Chinese flat steel prices

The Asian slab import market has continued to show limited activity over the past couple of weeks, as prices for the semi-finished product have yet to drop fully in line with cheaper flat steel from China.

China’s HRC prices rise amid strengthening paper market

China’s hot rolled coil prices increased on Friday April 20 after two days of increases in the paper market as well as gains in that for billet.

Japan’s crude steel output up 2% in March

Japanese crude steel output rose 1.80% year-on-year in March as electric arc furnace (EAF) mills stepped up their production rates.

China AM: Ferrous futures up on construction plans for north-west China

China’s ferrous futures rebounded during morning trading on Friday April 21 following the announcement of infrastructure projects in north-west China.

China’s Baotou Steel reports $12m profit for 2016

Baotou Iron & Steel, the largest mill in China’s Inner Mongolia autonomous region, reported a net profit of 85 million yuan ($12.35 million) for 2016 amid higher steel prices.

MMK Q1 steel sales down on lower export shipments

Magnitogorsk Iron & Steel Works (MMK) showed a 1.30% year-on -year decrease in steel sales in the first quarter of 2017 to 2.68 million tonnes, the Russian company said on Tuesday April 18.

Usiminas Q1 earnings up tenfold to $171m

Brazilian steel and iron ore producer Usiminas has reported adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of 533 million Reais ($170.88 million) in the first quarter of 2017.

EU steel plate prices stable in slow post-Easter market

Domestic prices in Europe for heavy steel plate have been unchanged over the past week while market activity has remained slow, sources have told Metal Bulletin.

Maintenance season begins in China as supply pressure mounts

More and more steelmakers in north China are putting their production lines on maintenance as the pressure of securing orders intensify in the face of an oversupplied market.