February 2020

Report on WTO from USTR Lighthizer raises trade concerns

Trade experts have expressed mixed views on a report from US Trade Representative (USTR) Robert Lighthizer, which detailed concerns with the World Trade Organization, arguing that its appellate body “violates the rules imposed by WTO members.”

Vale paying close attention to consequences of Coronavirus outbreak in China

The impact on Vale from the outbreak of the novel coronavirus (2019-nCoV) has been limited thus far, but the company is watching the situation closely in China.

AT A GLANCE: Vale records $1.56bln net loss in Q4 on impairment charges

Vale reported a net loss of $1.56 billion in the fourth quarter of 2019, compared with a net profit of $3.79 billion in the corresponding period a year earlier, due to impairment charges and provision expenses.

NEWSBREAK: Dexin Steel Indonesia to fire up blast furnace on Feb 21

Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.

Ternium will be ‘extremely cautious’ when analyzing acquisitions, CEO says

Latin American steelmaker Ternium plans to analyze possible acquisitions or mergers cautiously, chief executive officer Máximo Vedoya said on Wednesday February 19.

AT A GLANCE: Ternium Q4 2019 earnings down on lower steel prices, volumes

Latin American steel group Ternium showed a decline in its earnings before interest, taxes, depreciation and amortization (Ebitda) of 49% year-on-year in the fourth quarter of 2019, amid a reduction in steel prices in North America in the second half of the year.

AT A GLANCE - Gerdau Q4 adjusted earnings down 19.4% vs previous year

A summary of The Brazil-based flat and long steel producer Gerdau's financial performance in the fourth quarter of 2019.

ICC Tribunal orders Sierra Leone to reinstate SL iron ore mining license

The International Chamber of Commerce has ordered the government of Sierra Leone to withdraw its restrictions on the mining of iron ore at the Marampa project by SL Mining, the company said in a press release dated Tuesday February 18.

Brazilian flat steel sales up 5.3% in January amid price increases, Inda says

Flat steel sales from Brazilian distributors increased by 5.3% year on year in January, with the country’s steel consumption rising amid price increases, according to national flat steel distributors’ association Inda.

EU new car sales fall 7.5% year on year in January

Demand for passenger cars in the EU dropped by 7.50% year-on-year in January 2020, following four consecutive months of recovery.