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Carbon Steel News

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... 

Japan steel federation: China steel output under control despite record 2017

By: Reuters     22nd January 2018 Japan Iron and Steel Federation chairman Kosei Shindo said on Monday China's steel output remains under control despite record output from the world's top producer in 2017, citing abolition of illegal Chinese steel production and solid local demand. Shindo, who is also president of Nippon Steel &... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

By: Terence Creamer     19th January 2018 The Industrial Development Corporation (IDC) is currently assessing 21 potential transactions, worth a combined R437-million, arising from applications for support under a R1.5-billion industrial financing scheme set up in 2017 to support manufacturers of value-added steel products. The... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

China govt curbs drop avg daily steel output to 12-mth low in Dec

By: Reuters     18th January 2018 China's average daily steel output fell 1.9% in December from the previous month, official data showed on Thursday, touching the lowest level in a year as government-imposed production curbs deepened. Total output climbed to 67.05-million tonnes in December from 66.15-million tonnes in November,... 

Davos paper attacks Trump's views on trade

By: Reuters     17th January 2018 US President Donald Trump's view of world trade will be challenged next week when he visits the World Economic Forum (WEF) at Davos, judging by a paper seen by Reuters on Wednesday that is aimed squarely at his "America First" stance. The "Strategic Brief on Misconceptions around Trade Balances"... 

Seifsa warns US antidumping duties could hurt local steel industry

By: Megan van Wyngaardt     12th January 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is worried about the potential impact on the local steel industry of the US Department of Commerce’s (DoC’s) affirmative final determinations in an antidumping duty investigation into imports of carbon and alloy steel... 

ArcelorMittal, Competition Commission reach payment agreement

By: Megan van Wyngaardt     18th December 2017 Local steel manufacturer ArcelorMittal South Africa (AMSA) has reached an agreement with the Competition Commission to divide its 2017 payment into three separate tranches of R100-million each. In 2016, the parties reached a settlement agreement after AMSA admitted to being involved in the long... 

Proposed carbon tax ‘least-cost manner’ to ensuring greenhouse-gas reduction – Treasury 

By: Schalk Burger     15th December 2017 The National Treasury released the Second Draft Carbon Tax Bill for public comment on Friday and averred that it “seeks to give effect to the polluter pays principle . . . and will assist, in a least-cost manner, in reducing greenhouse-gas (GHG) emissions and ensuring that South Africa meets its... 

Decreasing employment in South Africa a sign of ‘deeply troubled economy’ – Seifsa

By: African News Agency      13th December 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Tuesday that South Africa’s employment statistics showed signs of a “deeply troubled economy” and was a serious cause for concern. This comes after Statistics South Africa released its Quarterly Employment... 

China steel futures steady, mill output cuts continue

By: Reuters     12th December 2017 Chinese steel futures held steady on Tuesday, but prices for steelmaking raw material iron ore dropped as steel mills in the world's top producer cut output. China's government has vowed to clear its air, ordering 28 cities to curb industrial production, prompting a shortage of supplies in some... 

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