September 2018

STEEL WEEK IN BRIEF: Record global rebar demand, excess steel capacity…

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday September 21.

Global forum on steel overcapacity agrees to target subsidies, reduce capacity further

The Global Forum on Steel Excess Capacity has agreed to “further reduce steel production capacity wherever necessary [and] to eliminate subsidies which cause overcapacity,” the European Commission (EC) said on Friday September 21.

Outokumpu’s October alloy surcharges fall on nickel drop

Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for October deliveries of grade-304 cold-rolled (CR) stainless steel sheets by €80 ($94) per tonne.

MB STAINLESS HELSINKI: Universal Stainless chief named top executive of 2018

Dennis Oates, chief executive officer of US speciality steelmaker Universal Stainless & Alloy Products (USAP), was awarded the 2018 Stainless Steel Executive of the Year award at Metal Bulletin and SMR’s Stainless & Special Steel Conference in Helsinki, Finland, on Thursday September 20.

Swiss steel exporters call for EU safeguard measures exemption

Swiss steelmakers have called for an exemption for Swiss-origin steel imports into the European Union from the EU’s preliminary safeguard measures, citing the "interconnectedness of the steel and steel processing industries of Switzerland and the EU".

IREPAS ISTANBUL: Global rebar demand to reach record high in 2018-19

Global rebar demand will reach record levels in 2018-19, supported by growth in the construction sector, particularly in developed economies and across Asia, according to Celsa Group.

US government says G20 steel production reduction initiative has failed to deliver

The United States Trade Representative (USTR) has branded the Global Forum on Steel Excess Capacity a failure, claiming its efforts have not delivered the production cuts that markets need to stabilize prices.

IREPAS ISTANBUL: Protectionist measures the main issue for steel industry

Free and fair trade is one of the few good principles that allows resources to flow to their point of best use, helping countries and companies to thrive and prosper, Murat Cebecioglu, chairman of the International Rebar Exporters and Producers Association (Irepas) said this week at the organization's conference in Istanbul, Turkey.

Brazil's CSN signs deal with local environmental authorities for Volta Redonda ops

Brazilian flat and long steel producer Companhia Siderúrgica Nacional (CSN) has reached an agreement with state environmental authorities to maintain operations at its Volta Redonda steelmaking unit.

Turkey imposes additional duty on steel imports

Turkey has imposed an additional 25% duty on steel imports, payable once product-specific quotas have been exceeded.