June 2016

CIS pig iron prices slide further on subdued demand

Export prices for CIS-origin pig iron have declined again over the past week, sources told Steel First on Thursday June 30.

China’s domestic stainless steel market up further on nickel gains

China’s domestic stainless steel market climbed further this week amid rising nickel prices.

India import scrap prices move in different directions by grade

Prices for containerised HMS-grade scrap imported into India have gone up slightly over the past week while those for shredded material have slipped, traders told Steel First on Friday June 24.

Black Sea pig iron prices drift down on weak market

The Black Sea pig iron market has remained weak, sources told Steel First on Thursday June 23.

Indonesia's PT Indoferro to raise NPI capacity to 350,000 tpy

PT Indoferro, the nickel pig iron arm of Indonesia’s steel major Growth Steel Group, will raise its production capacity to 350,000 tpy by the end of 2016.

Hyundai Steel’s BF on path to recovery after large pig iron output loss

South Korea’s Hyundai Steel has reported a “meaningful recovery” at its No1 blast furnace in Dangjin over the past few days, after being hit by output losses totalling several hundred thousand tonnes.

Credit event 'highly likely' for Venezuela in 2016-17, Moody's says

Venezuela’s external funding gap implies it is highly unlikely there will be sufficient hard currency available to fully redeem debt service obligations this year, according to Moody’s Investors Service.

Black Sea pig iron market sentiment remains sluggish

The Black Sea pig iron market has seen no improvement over the past week, sources told Steel First on Thursday June 16.

Iran’s Baft Steel resumes construction with private sector investment

Work on Iran’s Baft Steel project has restarted under new private investor, the Mahan Mines & Industries Development Co.

AQS to expand Algeria's DRI capacity with 2.5m-tpy plant

Algerian Qatari Steel (AQS) has ordered a 2.5 million-tpy hot and cold direct reduction iron (DRI) facility for its Bellara steel complex, in the race to boost domestic ferrous activity in Algeria.