January 2020

China's second-biggest steelmaker secures yuan-denominated iron ore deal with Vale

Hebei Iron and Steel Group (HBIS), also known as Hesteel Group, has secured a yuan-denominated contract to buy iron ore from Vale, China's second-biggest steelmaker said this week.

PRICING NOTICE: Proposal to amend timing in China export HRC index

Fastmarkets is proposing to change the timing in its fob China export HRC index to 4-8 weeks from the current 4-6 weeks.

Argentina’s crude steel production down 10% in 2019

Argentina’s crude steel output dropped by 10% in 2019 compared with a year earlier, according to figures released by national steel chamber Acero Argentino on Wednesday January 22.

EXCLUSIVE: Stemcor sold to China’s Cedar Holdings for $150 million

Global steel trader Stemcor has been sold to China’s Cedar Holdings for $150 million, a source with knowledge of the matter told Fastmarkets on Wednesday January 22.

Brazilian prosecutors’ office charges Vale, TÜV SÜD and 16 people in relation to Brumadinho disaster

The Minas Gerais state prosecutors’ office, MPMG, has charged miner Vale, consulting company TÜV SÜD and 16 people - including former Vale chief executive Fabio Schvartsman - for homicide and environmental crimes, according to a document made public on Tuesday January 21.

Brazil's Usiminas to raise domestic steel prices by 10% in March

Brazilian steelmaker Usiminas has announced a 10% average price increase for all flat-rolled products effective from March, the president of national steel distributors’ association Inda, Carlos Loureiro, said on Tuesday January 21.

Brazilian flat steel distributors' sales up by 34% yoy in unusual December, Inda says

Sales volumes from Brazilian flat steel distributors rose by 34.2% in December over the corresponding month in 2018, while purchases increased by 47.9% on the same basis of comparison, distributor association Inda said on Tuesday January 21.

AT A GLANCE: JSPL reports 31% boost in sales in third-quarter results

A summary of the financial results for Indian steel producer Jindal Steel and Power (JSPL) for the third quarter of its financial year 2020, covering October to December 2019.

PRICING NOTICE: Fastmarkets moves to annual methodology reviews across PRA divisions

Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year.

MMK steel sales down by 4% in 2019, export shipments down by 47%

Steel product sales by Russia’s Magnitogorsk Iron & Steel Works (MMK) were down by 4% in 2019 to 10.96 million tonnes because of repair works at the hot-rolling mill, the company said in its latest report on Tuesday January 21.