December 2019

2019 REVIEW: Over 470kt of steel hollow sections imported under EU safeguard quotas in H2

Fastmarkets reviews how much of the EU safeguarding import quota allowances for hollow sections has been used and by who, with an estimation of when they will be exhausted country by country at the current usage rates.

Vale sells Chinese coal producer Henan Longyu stake to Yongmei for $152mln

Vale has entered into an agreement to sell its 25% stake in Chinese coal producer Henan Longyu Energy Resources Co to Yongmei Group for 1.07 billion yuan ($152 million), the Brazilian mining company said on Friday December 27.

Malaysia slaps anti-dumping duties on CRC from China, Japan, South Korea, Vietnam

Malaysia will impose anti-dumping tariffs of up to 26.39% on cold-rolled coil imported from China, Japan, South Korea and Vietnam.

Brazilian court removes hurdle blocking Vale acquisition of Ferrous Resources

A Brazilian federal court has removed a major hurdle keeping mining major Vale from acquiring fellow miner Ferrous Resources.

IN CASE YOU MISSED IT: 5 key stories from December 23

Here are five Fastmarkets MB stories you might have missed on Monday December 23 that are worth another look.

Anglo American secures tailings dam permit for Minas-Rio expansion

Anglo American has received an operational permit for a "downstream" tailings dam at its Minas-Rio expansion project in southeast Brazil, the company said on Monday December 23.

EU safeguard measure for HDG destined for auto sector to be reviewed again

The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.

MEIS 2019: Governments should approve justified investments to avoid overcapacity, Ankur Dana says

Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .

MEIS 2019: Middle East needs protection to avoid becoming a dumping ground, says Abu Bucker Husain

One of the main challenges facing the Middle East steel sector is a lack of protection in an industry where protectionism is increasing, according to Abu Bucker Husain, chief executive officer of United Arab Emirates-based galvanized coil producer Al Ghurair Iron and Steel.

US backpedals on Section 232 tariffs on Brazilian steel, aluminium - Bolsonaro

United States President Donald Trump has decided not to go ahead with tariffs on steel products from Brazil under Section 232, Brazilian President Jair Bolsonaro said on Friday December 20 following a call to his US counterpart.