April 2016

HIGHLIGHTS: Futures in China, global earnings, EU steel market outlook...

Latin America editor Ana Paula Camargo reviews the main news covered by Steel First over the past week.

Kobe Steel posts 42.7% fall in 2015 operating income on China slowdown

Kobe Steel, Japan’s third-largest steelmaker, recorded a 42.70% slump in operating income in its 2015 financial year, ending March 31, 2016.

Peru's Aceros Arequipa's sees Q1 earnings drop 2% in 2016

Peruvian long steel producer Aceros Arequipa saw its earnings drop by 2% year-on-year in the first quarter of 2016, mainly due to lower sales prices.

Czech mining company OKD to discuss filing for insolvency next week

The board of OKD, the mining subsidiary of Czech Republic-based coal group New World Resources (NWR), is to hold discussions, on Tuesday May 3, about whether to file an insolvency petition.

Deadline for Ilva bids pushed back to May 30, company confirms

The deadline to submit binding offers to acquire troubled Italian steelmaker Ilva has been extended by a week to May 30, a spokesman for the company told Steel First on Friday April 29.

Europe starts prior surveillance of imports to crack down on dumping

In an attempt to act more swiftly in trade defence matters, the European Commission will start to monitor certain steel products, for which importers will be required to obtain import licences.

Usiminas shareholders elect de Matos Brito chairman

Shareholders in Brazilian steelmaker Usiminas elected Elias de Matos Brito chairman of the board of directors in a meeting on Thursday April 28.

Mexico's Ahmsa reports $34.4m net loss in Q1

Mexico’s biggest integrated steelmaker, Altos Hornos de México (Ahmsa), has reported a net loss of 595.40 million Mexican pesos ($34.39 million) for the first quarter of 2016.

Metinvest raises Q1 steel output by 19%, focuses on finished steel

Ukraine’s largest steelmaker, Metinvest, increased its steel production by 19% year-on-year in the first quarter of 2016, the company said on Friday April 29.

Formosa steel mill 'not linked' to fish deaths, Vietnam says

The Vietnamese government has so far found no conclusive evidence of a link between Formosa Plastics Group’s steel unit in the country and the mass deaths of fish along the country’s central coast.