June 2019

Liberty House ‘unlikely to bid for British Steel,’ sources say

International metals group Liberty House is unlikely to bid for troubled UK long steel producer British Steel, Fastmarkets has heard.

Vale lowers alert level at Vargem Grande dam

Vale has lowered the alert level at its Vargem Grande dam following a series of structural improvements made since January in the wake of a deadly breach of another.

PEOPLE MOVES: GFG Alliance appoints Barrell global head of performance

The GFG Alliance, owner of global steelmaker Liberty House, has appointed Neil Barrell global head of integration and performance, it said on Wednesday June 5.

45 EU steel companies call for stronger safeguard measures by July 1

European steelmakers have called on the region’s policy-makers to take immediate action to strengthen the safeguard measures for the steel industry, with effect from July 1.

NEWSBREAK: South Korea's Posco, Hyundai Steel asked to idle blast furnaces

South Korean steel majors Posco and Hyundai Steel have both been asked by provincial governments to idle their blast furnaces over pollution levels, market sources told Fastmarkets MB on Tuesday June 4.

Brazilian iron ore exports down 20% in May on mine stoppages

Brazilian iron ore export volumes decreased by 20% year on year during May 2019, with several mines operated by Vale halting their output this year, the country’s ministry of economy said on Monday June 3.

Duferco, Nucor team up to construct steel beam rolling mill in Italy

A 50:50 joint venture between Luxembourg-based trader/steel producer Duferco and United States steelmaker Nucor Corp has announced plans to build a €150 million steel beam rolling mill in Brescia, Northern Italy.

TURKEY FLAT STEEL WRAP: Prices up in May, demand improves

Demand for flat steel in Turkey improved in May especially in the export market, after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets.

German investor Mutares acquires two of ArcelorMittal’s French wire mills

German turnaround investor Mutares has completed the acquisition of TrefilUnion, the French wire products subsidiary of steelmaker ArcelorMittal, it said on Monday June 3.

China set for new giant steelmaker with potential Baowu-Magang merger

China’s largest steelmaker could become even bigger this year if its merger with another mill is given the green light.