April 2017

Severstal doubles Q1 earnings on higher prices, increased sales volumes

Russian steelmaker Severstal’s earnings jumped by 111.72% year-on-year in the first quarter of 2017, the company said on Thursday April 20.

EU coil prices to soften in wake of global market decline

Domestic coil prices in Europe are expected to fall following the decline in the international market, sources told Metal Bulletin this week.

China’s HRC prices mirror volatile futures market

East China’s hot rolled coil prices fell on Thursday April 20 while those in the northern region widened amid a highly volatile paper market.

China AM: Ferrous futures fall amid news of spike in domestic iron ore output

China’s ferrous futures dropped during morning trading on Thursday April 20 following the release of data from the country’s National Bureau of Statistics showing a rise in run-of-mine iron ore output in both March and the first quarter.

Tata Steel considers $658m payment to clear pensions liabilities, reports say

Indian steelmaker Tata Steel is reported to be planning to offer a one-off payment of £520 million ($657.85 million) to members of the British Steel Pension Scheme (BSPS) to clear its pension liabilities.

Iranian flat steel import buying activity 'modest' despite drop in prices

Buying activity in the Iranian flat steel import market remained modest despite all suppliers dropping their prices in the past week, sources told Metal Bulletin.

India's steel minister calls for domestic steel use in public projects

The Indian Ministry of Steel is to put forward a proposal that would “make it mandatory to use Indian-made steel in key projects”, steel minister Shri Chaudhary Birender Singh said on Wednesday April 19.

UAE flat steel import prices fall sharply on lower Chinese offers

Flat steel import prices into the UAE decreased this week as offer prices from China fell.

Chinese traders test HRC offers as low as $400 per tonne fob to Vietnam

Import prices for re-rolling-grade hot rolled coil (HRC) in Vietnam have continued to fall rapidly on increasing pressure from Chinese traders which are short-selling the market.