May 2019

EC begins review of steel import safeguards

The European Commission (EC) has initiated a review of its steel import safeguard measures, it said in a notice published in the Official Journal of the European Union on Friday May 17.

British Steel secures short-term funding to continue operating

UK long steel maker British Steel has secured short-term funding from its lenders that will enable it to continue “operations as normal,” the company said on Friday May 17.

US halves import duties on Turkish steel

The United States has lowered its tariffs on steel imports from Turkey to 25%, from the previous 50%, effective Friday May 17.

PEOPLE MOVES: LKAB appoints Petäjäniemi senior VP, streamlines group management

Swedish state-owned iron-ore producer LKAB is to appoint Markus Petäjäniemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.

Vale to invest as much as $250 mln in slab producer CSP over three years

Vale might invest as much as $250 million in Brazilian slab producer Companhia Siderúrgica do Pecém (CSP) over the next three years, to improve the steelmaker’s balance sheet, the miner told Fastmarkets on Tuesday May 15.

Feralpi Stahl to expand rolling capacity at Saxony mill to 1.3mln tpy to meet growing demand

Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.

Accident at CSN steel mill in Brazil injures 20 but no impact on output

An accident at a steel mill owned by Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) on Wednesday May 15 injured around 20 employees but had no impact on production there, the company said.

Salzgitter confirms strong Q1 performance but warns of economic headwinds ahead

German steelmaker Salzgitter showed a year-on-year increase of 31% in pre-tax earnings for the first quarter of 2019, attributed to the “very satisfactory” results from its steel strip business and other units, the company said on Wednesday May 15.

Strong prices boost 2018 earnings by 23%, Ezz Steel says

Egypt’s use of selective anti-dumping duties helped the country’s biggest steelmaker, Ezz Steel, to report a 23% increase in earnings in 2018, the company said last week.

ThyssenKrupp remains open to EU steel consolidation after Tata jv disappointment

German steelmaker ThyssenKrupp remains open to consolidation in the European steel sector, chief executive officer Guido Kerkhoff said in a conference call with analysts on Tuesday May 14.