June 2016

Vale concludes sale of VLOCs to ICBC

Vale has concluded the sale of three 400,000-dwt very large ore carriers (VLOCs) to ICBC International for around $269 million, it announced on Thursday June 30.

Argentina’s industrial production down 4.3% in May

Industrial output in Argentina decreased by 4.30% year-on-year in May, according to figures released by the country’s official statistics agency, Indec, on Thursday June 30.

Mexico's iron ore production down 19% in April

Iron ore production in Mexico fell by 19.10% year-on-year in April, according to figures released by the country’s statistics agency, Inegi, on Thursday June 30.

Formosa Plastics facing $500m fine for Vietnam mass fish deaths

The Vietnamese government is expected to fine Taiwanese steelmaker Formosa Plastics Group (FPG) $500 million for environmental damage caused by the company’s Ha Tinh plant, according to local media.

UK specialist steelmaker Kiveton Park bought out of administration

UK-based specialist steelmaker Kiveton Park Steel has been bought out of administration by Henry Dickinson, owner of multiple UK manufacturing businesses.

ArcelorMittal to invest $25m in modernisation of Polish mill

ArcelorMittal plans to invest more than 100 million zloty ($25 million) into an upgrade of the dedusting systems for the melt shop at its Dabrowa Gornicza mill in Poland, a spokeswoman told Steel First on Thursday June 30.

ArcelorMittal, Marcegaglia 'would raise Ilva output to 6m tpy by 2020'

The world’s largest steelmaker, ArcelorMittal, and Italian re-roller Marcegaglia have submitted their joint bid to acquire troubled steelmaker Ilva, they said on Thursday June 30.

Italian government agency snubs ArcelorMittal, launches rival Ilva bid

AcciaItalia, a newly formed company of which Italian government agency Cassa Depositi e Prestiti (CDP) is the majority shareholder, has launched a bid for beleaguered steelmaker Ilva, it announced on Thursday June 30.

Turkey's Kardemir cuts domestic long steel prices

Turkish integrated long steel producer Kardemir cut its domestic steel prices on Thursday June 30.

Tata Steel to invest $222m in slab caster at Dutch plant

Tata Steel is to invest €200 million ($222 million) in a new continuous slab caster at its 7.50 million-tpy IJmuiden plant in the Netherlands, according to local media reports.