July 2018

ArcelorMittal's earnings jump 35% in Q2, analyst forecasts say

Analysts expect steelmaker ArcelorMittal’s earnings for April-June 2018 to increase by 34.99% year-on-year, the company said on Friday July 20.

China’s daily crude steel output rises in early July

China’s major steel mills’ daily crude steel output rates increased in early July, while their finished steel inventory levels also increased slightly.

China’s Shagang raises long steel prices for late July

East China’s Shagang has raised the prices for its long steel products for shipment in late July.

EU safeguards to boost domestic coil prices, sources say

The preliminary measures taken by the European Commission (EC) with regard to steel imports will result in higher prices for steel coil, market sources told Metal Bulletin.

STEEL WEEK IN BRIEF: Preliminary EU safeguarding measures, weak Turkish and Asian scrap prices, alleged anti-trust in Japan…

Metal Bulletin reviews the major stories that have affected the steel market over the past week.

Argentina's crude steel output rises by 11.1% in June

Crude steel production in Argentina grew by 11.1% year on year in June, according to figures released by national steel association Acero Argentino on Friday July 20.

South America's flat steel import prices edge down on lower offers

Import prices for flat steel in South America declined this week with lower offers being reported and buyers pushing for price reductions.

Severstal unaffected by EU safeguard case decision, CFO says

Russian steelmaker Severstal will be not affected by the preliminary decision in the EU’s safeguard case against steel imports, chief financial officer Alexei Kulichenko said on Thursday July 19.

Nucor announces record second-quarter earnings

Nucor announced its highest second-quarter earnings in company history on Thursday July 19, posting consolidated net earnings of $683.2 million and projecting further increases in its third-quarter results.

FOCUS: Steelmaking boom in Algeria likely to end billet imports

Algeria's steel billet import market is set for dramatic changes in the next couple of years, largely as a result of the country's fast-growing local steel industry.