September 2014

Brazil's pig iron prices plunge in latest deal to USA

Merchant pig iron producers in Brazil’s northern region of Carajás have seen their export prices to the USA fall by $3-6 per tonne.

Weakening euro pushes CIS pig iron buyers to market sidelines

European buyers of CIS-origin pig iron have adopted a wait-and-see attitude toward purchasing because of the weakening euro, sources told Steel First on Thursday September 25.

Egypt’s Ezz Steel sees earnings fall 59% in H1

Egypt’s biggest steel producer, Ezz Steel, has announced earnings of E£595 million ($83 million) for the first half of 2014.

Kardemir announces fourth-quarter 2014 sales plans

Turkish integrated long steel producer Kardemir has announced its sales plan for the fourth quarter of the year, according to a note filed with the country’s Public Disclosure Platform (KAP).

Bolivia to invest $405m in long steel, DRI plant

The Bolivian government will invest $405 million in the construction of a steel plant in the country, president Evo Morales has said.

MB STEEL SCRAP: China steel glut, low iron ore prices depress SE Asia scrap consumption

Overcapacity in Chinese steel production and iron ore prices at a five-year low are having a “serious negative impact” on scrap consumption in south-east Asia, a senior sector executive has said.

CIS pig iron prices stable on limited trade, Ukraine uncertainty

The CIS-origin pig iron market has held steady amid limited trading and worries over short-term prices and supplies, sources told Steel First on Thursday September 18.

Profits at Egypt’s EZDK plunge in H1

First-half profits at Egyptian steel producer Al Ezz Dekheila Steel Co (EZDK) slumped by 95% year-on-year, the company said in a filing with the Egyptian Stock Exchange on Sunday September 14.

Port expansion delays limit Venezuela's HBI exports

Shipments of hot briquetted iron (HBI) from Venezuela are being held up by port expansion delays, sources told Steel First on Friday September 12.