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Carbon Steel News

WTO members say US actions threaten trade body's credibility

By: Reuters     20th March 2018 Nearly 50 countries expressed concern on Tuesday about the "serious threat" to the World Trade Organisation posed by unilateral trade actions, a pointed reference to US import tariffs that have caused a global outcry. Delivering concluding remarks after a two-day informal meeting of the WTO... 

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

US govt to accept metals tariffs exclusion requests from Monday

By: Reuters     19th March 2018 The US Commerce Department said it will begin accepting requests on Monday for product exclusions from President Donald Trump's new steel and aluminum import tariffs, but it could take up to 90 days for the agency to make determinations. In a notice published on Saturday on the Federal Register... 

South Africa to make tariffs submission as Trump leaves door open for exclusions

By: Terence Creamer     9th March 2018 The Department of Trade and Industry (DTI) says it is studying US President Donald Trump’s proclamations to impose a new 10% tariff on aluminium products and a new 25% tariff on steel products from March 23. However, the department also confirmed that it would be making a formal submission to the... 

South Africa to make tariffs submission as Trump leaves door open for exclusions
Photo by Bloomberg
US President Donald Trump

WTO says there is still time to discuss US tariff move

By: Reuters     9th March 2018 World Trade Organization (WTO) members still have time to discuss the US tariffs on steel and aluminium imports signed by President Donald Trump on Thursday, and it is up to them what happens next, WTO spokesperson Dan Pruzin told reporters on Friday. "Certainly there is still time to discuss... 

EU warns Trump of trade war, China raises concerns at WTO

By: Reuters     7th March 2018 Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminium. The departure of Gary Cohn, seen as a bulwark against Trump's... 

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom

By: Terence Creamer     6th March 2018 South African steel and aluminium firms remain watchful and uncertain about the effects that a proposed increased US trade protection will have. However, the companies also indicate that they will seek to mitigate the risk through export diversification, as well as a continued focus on markets... 

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom
US President Donald Trump

Deal with excess steel capacity in global forum, OECD says

By: Reuters     6th March 2018 Excess steel capacity should be dealt with in a global forum for the problem to avoid an escalation of trade disputes, OECD chief Angel Gurria said on Tuesday following the Trump administration's plans to introduce import tariffs. Leaders of Group of 20 economic powers set up the Global Forum on... 

Deal with excess steel capacity in global forum, OECD says
Photo by Creamer Media
OECD secretary general Angel Gurria

WTO chief urges States to stop first dominoes of trade war

By: Reuters     6th March 2018 The head of the World Trade Organization (WTO) told member states on Monday they must prevent "the fall of the first dominoes" in a trade war and warned of a real risk of triggering an escalation of global trade barriers and a deep recession. World trade policy is in turmoil because of US... 

WTO chief urges States to stop first dominoes of trade war
Photo by Reuters
WTO director general Roberto Azevedo

China will cut 30Mt of steel, 150Mt of coal this year – NDRC

By: Reuters     5th March 2018 China will cut steel capacity by 30-million tonnes and coal output by 150-million tonnes this year, its top economic planner said on Monday, putting the world's top metal and energy market on track to beat long-term targets. In a work report at the opening of the annual meeting of parliament, the... 

Europe's firm response to stop short of trade war with Trump

By: Reuters     2nd March 2018 The firm response Europe has pledged to planned US tariffs on steel and aluminium imports is likely to stop short of triggering the trade war that open market supporters fear. US President Donald Trump said on Thursday the United States would apply duties of 25% on imported steel and 10% on... 

Europe's firm response to stop short of trade war with Trump

Trump trade war talk spooks emerging stocks

By: Reuters     2nd March 2018 Emerging market stocks fell to two-week lows on Friday, with steelmakers taking a pounding after President Donald Trump said he would impose hefty tariffs on US imports of steel and aluminium, reviving fears of a trade war. Trump said the duties of 25% on steel and 10% on aluminium would be... 

Development programme encourages economic growth

By: Paige Müller     2nd March 2018 To date, steel service centre and distributor Macsteel’s Usizo development programme has assisted in creating 175 new jobs in the steel sector. The programme was first initiated by Macsteel in May 2015 to assist small, medium-sized and microenterprises (SMMEs) in the steel industry by... 

Development programme encourages economic growth
USIZO DEVELOPMENT PROGRAMME The Usizo development programme, spearheaded by Macsteel, has led to an injection of R50-million into the South African economy

US steel, aluminium execs invited to White House for possible announcement

By: Reuters     1st March 2018 Several top US steel and aluminium executives have been invited to the White House on Thursday for what could be a major trade announcement, according to two people familiar with the meeting. US President Donald Trump has vowed to take steps to crack down on imports of steel and aluminium and has... 

Working-at-height training programme incorporates VR tech

By: Nadine James     23rd February 2018 Steel and mining company ArcelorMittal South Africa (AMSA) has incorporated virtual reality (VR) technology into the apprenticeship and training programmes at its Vanderbiljpark plant. The VR training solution, which has been operational since December last year, is currently used to determine... 

Working-at-height training programme incorporates VR tech
SAFETY FIRST The virtual reality technology allows for practical application without placing trainees at risk

EU warns it will retaliate if hit by US trade curbs

By: Reuters     22nd February 2018 The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminium and warned that it was ready to react if its industry was hit. "We have made it clear to the US administration at the highest level that we would be... 

Seifsa worried about potential impact of proposed US steel import tariff increases

By: Megan van Wyngaardt     20th February 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has warned that the difficulties facing the local steel industry would continue to worsen in the year ahead if the US Department of Commerce's recommendation for a tariff of at least 53% on all steel imports from 12... 

Japan's steel industry urges Trump to make careful trade decision

By: Reuters     19th February 2018 Japan's steel industry said on Monday the US Commerce Department proposal to President Donald Trump to impose curbs on steel imports violate the principles of free trade, calling for Washington to make a careful and appropriate decision. The US Commerce Department recommended on Friday that Trump... 

Tribunal approves amendment to payment terms of AMSA’s R1.5bn settlement agreement

By: Creamer Media Reporter      15th February 2018 The Competition Tribunal has approved a variation agreement allowing ArcelorMittal South Africa (AMSA) to pay the first R300-million instalment of its R1.5-billion fine in three tranches.   In late 2016, AMSA concluded a settlement agreement with the Competition Commission in terms of which it... 

Any US tariffs could spark trade war, cut growth, Germany says

By: Reuters     15th February 2018 The German chamber of commerce said on Wednesday that US import tariffs on steel could trigger a trade war with major trading partners, which analysts say could cut growth in Europe's largest economy by up to one percentage point. US President Donald Trump said on Tuesday he was considering a... 

China urges US to rein in 'trade remedy measures' for steel

By: Reuters     13th February 2018 China has expressed concerns over excessive protectionism in the steel sector by the United States, and urged it to show restraint in using trade remedy measures, an official with Chinese Ministry of Commerce (Mofcom) said on Tuesday. Wang Hejun, the head of Mofcom's Trade Remedy and... 

India's Tata Steel Q3 profit surges on volume growth

By: Reuters     9th February 2018 India's Tata Steel on Friday posted a five-fold rise in third-quarter profit, boosted by strong volume growth in India and increasing steel prices. "Global steel prices have been buoyant with improved trade position in China along with cost push from raw materials," Chief Executive Officer T V... 

Signs of manufacturing recovery, despite ongoing metals industry pressures

By: Megan van Wyngaardt     8th February 2018 The latest preliminary production data for the metals and engineering sector, released by Statistics South Africa (Stats SA) on Thursday, reflected a slowdown in production in December, despite a 2% increase in the broader manufacturing production during the same period, Steel and Engineering... 

Signs of manufacturing recovery, despite ongoing metals industry pressures

Steel Authority of India swings to profit in Dec quarter

By: Reuters     8th February 2018 Steel Authority of India Ltd posted a profit for the three months ended December on Thursday, snapping ten straight quarters of losses. Net Profit was 431.6-million rupees ($6.72-million), compared with a loss of 7.95-billion rupees in the year-ago period, the company said in a statement.... 

China aims to meet 2020 target for steel capacity cuts this year, warns on resumption

By: Reuters     7th February 2018 China aims to meet its target for reducing steel production capacity two years earlier than planned, the industry ministry said in a statement on Wednesday, as the world's top steel producer ramps up its years-long push to reduce excess output. The original plan called for reducing 150 million... 

EU steel sector sees demand growth in 2018, import threat

By: Reuters     6th February 2018 European steel demand is set to rise in 2018 with continued strength in most steel-using sectors, European steel association Eurofer said on Tuesday, while warning of a threat of rising imports. Apparent steel consumption, which excludes the impact of inventory changes, is set to rise by 1.9% in... 

Steel workers approve Thyssenkrupp-Tata Steel labour deal – source

By: Reuters     5th February 2018 Steel workers at Thyssenkrupp have voted in favour of a labour agreement that will safeguard jobs and plants in a planned joint venture with Tata Steel, a person familiar with the matter told Reuters on Monday. About 20,500 members of German union IG Metall had been asked to vote on the... 

New coal terminal planned for Beira could be a gateway to the east

By: Kim Cloete     2nd February 2018 A coal terminal planned for construction at Mozambique’s Beira port could be a gateway for imports and exports from the landlocked countries of Zimbabwe, Zambia, the Democratic Republic of Congo, Malawi and Botswana and could greatly boost coal exports to India. Essar Ports CEO Tej Nargundkar... 

Swedish steel plant to run on hydrogen

By: Reuters     1st February 2018 Steelmaker SSAB plans to build the world's first fossil fuel-free steel plant powered by hydrogen, backed by utility Vattenfall and miner Luossavaara Kiirunavaara, the Swedish firms said on Thursday. The pilot venture will aim to develop technology to later make SSAB's entire production... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

By: Terence Creamer     31st January 2018 ArcelorMittal South Africa (AMSA) is considering various asset disposals as part of a plan to strengthen its balance sheet, which remains under pressure as a result of a protracted period of lossmaking, which has endured since 2010. The JSE-listed steelmaker declared another headline loss of... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens
New AMSA CEO Kobus Verster on the immediate outlook for the group and initiatives under way to improve prospects for a return to profitability. Camera Work & Editing: Nicholas Boyd. Recorded: 31.1.2018

Zimbabwe to take over steelmaker's $500m debt

By: Reuters     31st January 2018 Zimbabwe plans to take on about $500-million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company (Zisco) to allow a new investor to revive the company. Zisco ceased production in 2008 at the height of Zimbabwe's economic meltdown, but under the Zimbabwe Iron and Steel Company... 

Dalian iron-ore near 1-month low, limited impact from icy weather

By: Reuters     30th January 2018 Chinese iron-ore futures ticked higher, but kept near one-month lows on Tuesday, as ample supply of the steelmaking raw material countered transport disruptions caused by heavy snow in the country. Rebar steel prices slipped, touching their lowest in nearly a week at one point. 

Swiss steel firm Schmolz + Bickenbach chosen to buy France's Ascometal

By: Reuters     29th January 2018 Swiss company Schmolz + Bickenbach has been chosen by a Strasbourg court to buy troubled French steelmaker Ascometal, the court said on Monday, with Schmolz + Bickenbach's bid prevailing over a rival one from Liberty House. Ascometal, which makes specialty steel and employs around 1 300 workers,... 

Economisers the key to boiler success

26th January 2018 Fitting an economiser on a boiler is a small addition that can provide big results in terms of helping companies reduce their operating costs and decrease their environmental impact, says heat and energy generation equipment provider Steam Generation Africa MD John Rundle. 

Global crude steel output up 5.3% y/y in 2017

By: Schalk Burger     25th January 2018 Global crude steel production increased by 5.3% year-on-year to 1.69-billion tonnes in 2017. Output increased in all regions except for the Commonwealth of Independent States, where production remained flat at about 102.1-million tonnes, the World Steel Association reported this week. 

Japan's record exports, manufacturing, point to powerhouse economy

By: Reuters     24th January 2018 Japan’s exports to China and Asia hit record levels as shipments rose for a thirteenth straight month in December and manufacturing growth hit a four-year high in January, pointing to an economy that powered through the fourth quarter and into 2018. The Ministry of Finance (MOF) said on Wednesday... 

MEIBC changes welcome, but should take employer into consideration

By: Megan van Wyngaardt     23rd January 2018 Although the Metal and Engineering Industries Bargaining Council (MEIBC) main agreement negotiation process, that took place from June to August last year, was riddled with technical issues and procedural hurdles, the extension to all nonparty employers and employees falling within the scope of... 

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