January 2016

Brazil's duty measure on plate affecting flat steel import market

Brazil’s recent decision to add Chinese carbon and boron-containing heavy plate to an existing anti-dumping measure is already affecting the country’s flat steel import market.

HIGHLIGHTS: Global steel output drops, Russia outlook negative, iron ore glut…

Editor Vera Blei reviews the main news covered by Steel First over the past week.

EU steel industry needs more trade defence investigations, Jefferies says

The European steel industry needs more trade protection measures to defend domestic steelmakers from the negative influences of growing import volumes, investment bank Jefferies has said.

JSW Steel blames impairments, cheap imports as Q3 losses pass $600m

India’s JSW Steel reported a net loss of Rs41.42 billion ($607.56 million) for the third quarter of its 2015 business year ending December 31, it said on Friday January 29.

Vale's zero-dividend proposal for 2016 'welcomed' by analysts

Analysts in Brazil have welcome Vale’s proposal for a share dividend equal to zero for 2016.

EU import duties on Chinese rebar should be raised, UK Steel says

British industry body UK Steel has called for higher provisional anti-dumping duties on China-origin rebar imports after the European Commission announced “inadequate” rates on Friday January 29.

Peru's Aceros Arequipa sees long steel earnings rise 18% in Q4 2015

Peruvian long steel producer Aceros Arequipa reported a growth of 18% year-on-year in earnings for the fourth quarter of 2015, mainly due to reduced costs.

Japan’s JFE posts 49% drop in April-December profits

JFE Holdings reported a 49% drop in consolidated operating profit for the nine months to December 2015, blaming an oversupplied global steel market and declining demand in its key markets, including China.

Russia will spend $650m to support car industry in 2016

Russia has earmarked 50 billion roubles ($650 million) to support the country’s stagnating car industry, an increase of 16% compared with last year, prime minister Dmitry Medvedev said on Friday January 22.

ANALYSIS: Russian mills focused on semi-finished output in tough 2015

Russian steelmakers increased their output of semi-finished steel products last year because of weak demand for finished steel at home, amid an economic slowdown and tough competition worldwide.