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Tag Archives: steel

Funding the main challenge for Indian steel growth

India’s steel production is expected to almost double by 2025 and M&A activity could result in a leaner industry, but headwinds remain, including tight credit lines and exposure to raw material prices. S&P Global Platts spent a week in India in November, mainly to host our Steel Markets Asia conference in Mumbai, but also to meet with companies and visit operations. There was plenty of positivity about the state of the local steel market, as well as a few notes of caution. S&P...

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Insight: Brazil steel touts Bolsonaro despite controversy

The Brazilian steel, metals and mining sectors expect an upturn in investments in the country in second-half 2019 following inauguration of a new government which aims to end a period of institutionalized corruption. Representatives of industry associations and the mining sector talked up the prospects of economic recovery under incoming president Jair Bolsonaro last week in Rio de Janeiro, but bumps in the road may remain, from a tricky trade relationship with China to the high cost of...

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Trump breaking supply chain eggs to make trade deal omelets

Who knew trade deal bargaining chips were made of steel and aluminum? Apparently, US President Donald Trump did. Earlier this week Trump triumphantly defended his 25% global tariff on steel and 10% tariff on aluminum as key drivers in achieving recent trade deals for the leverage they provided. He took on opponents of his tariff strategy, calling them “babies” as many were fearful of starting trade wars, alienating longtime allies, wrecking well-established supply chains and...

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Steel and the circular economy: Interview with Dr Edwin Basson, worldsteel director general

The circular economy concept is simple in its proposition: Create a regenerative system in which the use and waste of resources are minimized by re-using and re-manufacturing materials prior to recycling. Less simple is its implementation, which requires the global economy to redesign its processes and detach itself from the old linear model of take-make-dispose. These were the topics surrounding a conference organized by the World Steel Association (worldsteel) in Brussels with a spotlight...

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Aluminum swings in the spotlight — largely a tale of scarcity concerns and tariffs

Aluminum, like steel, has grabbed headlines in 2018. The all-in price of this primary metal used in everything from transportation, to construction, to consumer goods has fluctuated since January — sometimes widely — in large part a response to US trade ‘war’ concerns and supply scarcity. One effect of the 2018 tariffs and higher US aluminum prices: a scramble to ramp up domestic production. Century Aluminum, Alcoa and Magnitude 7 Metals are all working to restart three aluminum...

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EU forges ahead with steel sector M&A – but it won’t solve overcapacity

European steel’s current major M&A activity — driven by market recovery since mid-2017 — aims to achieve synergies and boost cost-effectiveness in a global steel sector still plagued by as much as 657 million mt of overcapacity, according to Organization for Economic Cooperation and Development estimates. ArcelorMittal (AM), the world’s biggest steelmaker, is to acquire Italy’s biggest, Ilva, while the knot has been tied between Thyssenkrupp Steel Europe and...

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Don’t hold your breath — 2+42 Chinese steel-producing cities

On July 20, Tangshan, the steelmaking hub in northern China’s Hebei province, turned up the heat on pollutant industries by imposing a 43-day output cut on local blast furnaces. In parallel, Chinese authorities are removing a further 30 million mt/year of crude steel capacity. When compared with the winter heating season of November 2017 to March 2018, the iteration proposed for 2018 is set to affect a greater land-area. China imposed production cuts on blast furnaces and sinter plants...

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Battle on the Iron Range: Between a Cliff and a Hard Place

US miner Cleveland-Cliffs said Monday the courts handed it the breakthrough it wanted at a site rich with iron ore resources in Minnesota. The United States Bankruptcy Court for the District of Delaware has reaffirmed the 2017 Cliffs acquisition of land located in Nashwauk, Minnesota, and the ruling resolved the land dispute in favor of Cliffs and Glacier Park Iron Ore Properties, the miner said in a statement Monday. Cliffs CEO Lourenco Goncalves said on Friday he was determined to fight...

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S&P Global Platts China Steel Sentiment Index stable in July: steel production seen rising, export outlook recovers

Chinese steel market sentiment is generally unchanged in July from the month before, with domestic orders expected to remain stable, though the outlook for export orders has improved, according to the latest S&P Global Platts China Steel Sentiment Index or CSSI, which showed a headline reading of 27.45 out of a possible 100 points. The headline CSSI, which measures the combined outlook for new domestic and export steel orders, fell by 1.79 points from 27.45 in June. It was the third...

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It’s a steel cage fight for product exclusions in the underground tariff wars

Steel consumers and producers in the US are duking it out. The battle is mostly under the radar and in the back rooms and alleys surrounding the Trump administration’s chaotic trade policy. Tariff headlines tend to concentrate on the alienation of allies and Canadian Prime Minister Justin Trudeau’s “special place in hell.” However, aside from all the grappling amongst trading partners, day-to-day steel consumers are digging in to the US government’s harmonized tariff schedule in an attempt to...

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