December 2016

HIGHLIGHTS: 2016 reviews, China spot prices down, China's billet export tax cut...

Latin America editor Ana Paula Camargo reviews the main global steel market news covered by Metal Bulletin over the past week.

Corex: a remarkable year and great potential ahead, ceo says

The Beijing Iron Ore Trading Center (Corex) has seen a 16% yearly growth in 2016 trading volumes to 35 million tonnes, making it the largest physical platform for iron ore in the world.

China’s billet export tax lowered to 15%

China’s carbon steel billet export tax will drop to 15% from January 1, 2017, according to a notice released by the Ministry of Finance on Friday December 23.

China’s daily crude steel output drops slightly in early December

China’s daily crude steel output dropped slightly in early December, while finished steel inventories rose.

Peabody Energy moves a step closer to emerging from Chapter 11

US-based miner Peabody Energy said it has filed its plan of reorganisation and disclosure statement with US Bankruptcy court for Eastern district of Missouri- a key milestone in the company’s Chapter 11 process and is a step closer to emerging from it.

IN FIGURES: China's imports of steelmaking raw materials in November

China's iron ore and coking coal imports continued to increase on the year with higher prices, while scrap intake surged, notably in the volume from the USA.

Acerinox board approves $52m savings plan for 2017-2018

The board of Spanish stainless steelmaker Acerinox has approved a plan to make savings worth €50 million ($52.06 million) in 2017-2018, the company said on Thursday December 22.

Turkey starts anti-dumping probe into Chinese plate imports

The Turkish Ministry of Economy has started an anti-dumping investigation into steel plate imported from China, the country’s Official Gazette said on Wednesday, December 21.

Tata Steel shake-up continues as Nusli Wadia is voted off board

Director Nusli Wadia has been removed from the board of Indian steelmaker Tata Steel after a shareholder vote at an extraordinary general meeting (EGM) on Wednesday December 21.

Saudi Steel Pipe wins $28m pipe supply contract from Aramco

Saudi Arabian pipe producer Saudi Steel Pipe (SSP) has been awarded a pipe supply contract worth 106 million riyals ($28.23 million) by Saudi oil & gas company Aramco.