December 2016

NLMK to cut pig iron exports next year

Russia’s largest steelmaker, Novolipetsk Steel (NLMK), will reduce its pig iron export volumes from January 2017 due to its own growing need for raw materials, Metal Bulletin has learnt from the company spokeswoman.

CIS pig iron export prices maintain higher levels

CIS pig iron export prices have either remained flat or risen slightly over the past week, on the back of rising raw materials costs.

World DRI output rose 7% in November, Worldsteel says

Global output of direct reduced iron (DRI) rose by 6.98% year-on-year in November 2016, according to the World Steel Assn (Worldsteel).

CIS export pig iron prices hold as buying activity slows down

Buying activity in CIS pig iron export market has slowed over the past week amid a traditional weakening in demand for steel products at the end of the year, and uncertainty in the raw materials segment.

Ukraine’s November seaborne steel exports drop 14%

Steel product volumes exported through Ukrainian seaports decreased by 13.78% year-on-year in November, according to the country’s Sea Trade Ports Administration.

Tenaris wins $137m verdict against Venezuela on plants' expropriation

Tenaris and its wholly-owned subsidiary Talta have won a $137 million arbitration judgment against the Venezuelan government over the expropriation of Tavsa and Comsigua.

Brazil's pig iron exports rose 9.6% in November

Brazilian pig iron export volumes increased by 9.61% year-on-year in November, according to figures released by foreign trade ministry MDIC on Monday December 12.

Egyptian steel demand, output will keep rising in 2017, Ezz Steel says

Steel demand and production will keep increasing in Egypt in 2017, Ezz Steel's marketing director, George Matta, said at the Middle East Iron & Steel Conference in Dubai on Tuesday, December 13.

Sail reports net loss of $109m in July-September quarter

Indian government-owned Steel Authority of India (Sail) has reported a net loss of Rs7.32 billion ($109 million) for the July-September quarter of 2016.

CIS export pig iron prices show mixed dynamics amid market uncertainty

Prices for CIS-origin pig iron exports have shown mixed dynamics over the past week, as the related global coking coal and scrap markets showed no clear direction.