October 2019

AT A GLANCE: Ezz Steel H1 earnings down on low steel prices

A summary of the financial results for Egypt’s biggest steelmaking group, Ezz Steel, for the first half of 2019, between January 1 and June 30.

FOCUS: Section 232 fallout in Asian steel, scrap markets persists

As the United States’ Section 232 tariffs on steel imports enter the second half of their second year, ferrous markets across the globe are still reeling from their effects.

China’s finished steel exports fall in September

China’s finished steel exports decreased on a year-on-year basis in September as well as in the first three quarters of the year, according preliminary Chinese customs data released on Monday October 14.

BIR 2019: BIR president Tom Bird to leave role as Chiho’s COO

Tom Bird, the head of Bureau of International Recycling (BIR), will leave his position as the chief operating officer of Chiho Environmental Group in November, Fastmarkets learned on Sunday October 13.

Egypt announces permanent duties for steel billet, rebar and wire rod

The Egyptian Ministry of Trade and Industry announced permanent duties on steel billet, rebar and wire rod on October 10, effective from October 12, Egyptian sources told Fastmarkets.

ArcelorMittal Kryvyi Rih hot-testing section mill rebuilt to cut costs, expand portfolio

Ukraine’s largest producer of long steel, ArcelorMittal Kryvyi Rih, is performing hot tests of its rebuilt light section mill 250-4, the company announced late last week. Once complete, the reconstruction will help the company to cut production costs and expand its portfolio.

Vale expects additional 50mln tpy of pellet demand from China until 2025

Vale expects Chinese demand for iron ore pellets and pellet feed to rise by 50 million tonnes per year with mills in China increasing the usage of pellets in their blast furnaces.

Brazilian auto association cuts forecast for production, sales in 2019

The Brazilian automotive association, Anfavea, has lowered its forecast for production and sales in 2019, mainly due to a weak export market.

INTL FCStone acquires UOB brokerage, clearing units in Singapore expansion [CORRECTED]

United States-based financial services organization INTL FCStone has acquired the futures and options brokerage operations and the clearing business unit from UOB Bullion and Futures.

Brazil extends heavy plate dumping duties 5 more years

Brazil has decided to extend anti-dumping duties covering heavy steel plate from China, South Africa, South Korea and Ukraine for five years, the country’s foreign trade and international affairs secretariat, Secex, said on Tuesday October 1.