January 2019

SSAB forecasts strong Q1 steel demand in US, stability in Europe

Swedish steelmaker SSAB forecasts that demand for heavy steel plate will remain strong in the United States in the first quarter of 2019, while in Europe demand will be fairly stable.

ArcelorMittal increases EU domestic coil prices by $34, sources say

The world’s largest steelmaker, ArcelorMittal, has announced a price rise of €30 ($34) per tonne on flat steel products, market sources told Fastmarkets on Thursday January 31.

Vale to compensate 'most of' iron ore output cut with other ops, analysts say

Brazilian miner Vale is expected to compensate for most of the loss in output caused by the decommissioning of tailings dams by ramping-up other operations, analysts told Fastmarkets on Wednesday January 30.

Ukraine’s pig iron, steel output up in 2018, excluding mills in east

Ukrainian steelmakers, excluding those in the eastern provinces that were seized by rebels in 2017, managed to increase their output of pig iron and steel in 2018, supported by favorable conditions in the global steel market, and higher prices in particular.

Gulf nations impose blanket 10% duty on rebar imports

The Gulf Co-operation Council nations (GCC) increased the import duty on rebar to 10% from the previous 5% iwithn effect from January 1, 2019, the Arab Iron & Steel Union (AISU) announced on Wednesday, January 30.

Vale could pay $4.5bln in compensation for dam failure, bank says

Global miner Vale could be forced to pay as much as 17 billion Reais ($4.51 billion) in compensation for environmental damage and lives lost after the recent rupture at one of its iron ore tailings dams, Brazilian bank Itaú BBA said in a report on Tuesday January 29.

Russia’s MMK cuts exports on higher home sales, lower in-house shipments in 2018

Russia’s Magnitogorsk Iron & Steel Works (MMK) reduced its export sales in 2018, redirecting shipments to the home market instead, the company said on Friday January 25.

Brazilian police arrest five people involved in Vale dam approval

Brazilian federal police have arrested five people related to inspections of the tailing dam that failed last week at Vale’s Córrego do Feijão iron ore mine.

Global DRI output up 12% in 2018, Worldsteel says

Global production of direct-reduced iron (DRI) increased by 11.59% in 2018, according to the latest statistics from the World Steel Association (Worldsteel).

Tata Steel restarts BF at Port Talbot plant in Wales

Tata Steel Europe has restarted its blast furnace (BF) No 5 at the Port Talbot mill in the UK following the facility’s upgrade that began in September last year, the company said on January 29.