October 2014

CIS pig iron market silent on lack of activity

The CIS-origin pig iron market has remained quiet, with no activity recorded in the past week on scarce supply and demand, sources told Steel First on Thursday October 30.

Jindal Shadeed takes out $725m syndicated bank loan

Omani steel producer Jindal Shadeed signed a syndicated term loan facility with Bank Muscat for $725 million on Tuesday October 28, parent company Jindal Steel & Power (JSPL) has announced.

Turkish pig iron imports fall 12% in August, TUIK says

Turkish pig iron import volumes continued to fall in August on weak demand in the country’s domestic market, according to the data released by the Turkish Statistical Institute (TUIK).

Nucor eyeing upstream acquisitions across USA

US steelmaker Nucor continues to weigh acquisition opportunities, especially upstream additions, given the lowest iron ore prices in years and the lowest valuation of iron businesses in about a decade.

Brazil's pig iron producers cut export offers $15 on weak market

Merchant pig iron producers in Brazil’s northern region of Carajás have seen their export offer prices fall by $15 per tonne, after several weeks of price stability, market participants told Steel First.

Cevital's Piombino proposal endangers EAF sector in Italy, Gozzi says

Installing an additional 2 million tpy of capacity at Piombino may distort Italy’s electric arc furnace (EAF)-based sector, according to the president of steelmakers’ association Federacciai, Antonio Gozzi.

CIS pig iron market at standstill on limited buying, offers

No export deals for CIS-origin pig iron have been heard concluded in the past week as buyers and mills remain in a wait-and-see mode, sources told Steel First on Thursday October 23.

Industries Qatar raises steel revenue to $1.3bn in Q1-Q3 2014

Industries Qatar, owner of rebar and billet producer Qatar Steel, has announced net revenue for its steel segment of 4.7 billion riyals ($1.3 billion) for the first nine months of 2014.

CIS pig iron market quiet as Ukraine woes continue

Trading activity in the CIS pig iron market has quietened as uncertainties in Ukraine continue to affect market sentiment, sources told Steel First on Thursday October 16.