November 2018

Mexico's Concamin wants end to US steel tariffs before USMCA is signed

Concamin, the Mexican Industrial Chambers Confederation, is urging the country’s authorities to negotiate an end to the United States’ use of Section 232 import tariffs before signing the US-Mexico-Canada Agreement (USMCA), according to a letter published on Wednesday November 14.

PEOPLE MOVES: Cornelius Louwrens joins Liberty UK as chief executive

Liberty Group has appointed Cornelius Louwrens as chief executive of its UK steel division, the company said on Wednesday November 14.

Global trade conflicts pressure Voestalpine's H1 earnings down 11%

Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.

China’s steel output surges further in October

China’s crude steel and finished steel output both continued to increase sharply on a year-on-year basis in October.

China’s daily crude steel output drops further in late October

Major Chinese steel mills kept reducing their crude steel output late in October, while their finished steel inventories also retreated due to them actively stepping up their delivery of materials to the spot market.

Blast stoppage at AM Temirtau to support flat steel prices in Russia

Operations at Kazakhstan steelmaker ArcelorMittal Temirtau were partly suspended on Saturday November 10 due to an explosion in a gas pipeline, the company said this week.

Full take-up of EU import quotas could boost domestic wire rod, rebar producers

The rate at which the European Commission’s import safeguard quotas for wire rod and rebar are filling up is still accelerating, and may give domestic long steel producers an opportunity to raise their prices in the next few weeks despite lukewarm demand.

China’s Shagang cuts wire rod prices for mid-November

Eastern China’s Shagang has lowered the prices for its wire rod for shipment in the middle of November, but rolled over those for rebar.

STEEL WEEK IN BRIEF: Scrap price falls; fresh US sanctions against Iran; global excess steel supply finding its way to Middle East…

Fastmarkets MB reviews the major stories that have affected the steel market during the week ended November 9.

Latin America's steel use to grow 3% in 2019, Alacero says

Steel consumption in Latin America was expected to grow by 3.10% in 2019, compared with this year, according to regional steel association Alacero.