Category: Daily Steel News

Mexican domestic steel consumption to decline in 2020

Mexican domestic steel consumption this year should decline 13.4 percent, year-over-year, to 21.3 million mt, said local steel association, Canacero. According to a media report from El Financiero, Jose Roman Vergara, trade commerce and statistics director at Canacero, said Mexican domestic steel consumption should then increase 7.3 percent year-over-year in 2021. Vergara reportedly urged investments […]

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Colombia’s Acesco investing $6 million in new galvanized steel product

Colombian steelmaker Acesco said it will invest $6 million in a new galvanized steel product, a media report from El Heraldo said. The company said it will commence the investment by 2021, which will help it convert its existing galvanizing lines to produce an enhanced steel product, called Metalum. Acesco said Metalum is a galvanized […]

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Cleveland-Cliffs to acquire ArcelorMittal USA

US-based mining and natural resources company Cleveland-Cliffs Inc. announced that it will acquire ArcelorMittal USA LLC and its subsidiaries for approximately $1.4 billion. With this acquisition, Cleveland-Cliffs will be the largest flat rolled and iron ore pellet producer in North America. According to the company’s statement, ArcelorMittal USA will be acquired by Cleveland-Cliffs on a […]

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Vale suspends dam works and concentration activities, loses 11,000 mt/day capacity

Brazilian miner and iron ore producer Vale said on Monday it suspended works at its B7 dam in Jeceaba, and at the same time halted concentration activities at its Viga mine in Congonhas city, following a court decision. Vale said a court ordered Vale to shut down the Jeceaba city dam works as well as […]

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US HDG imports down 24.2 percent in August

According to preliminary census data from the US Department of Commerce, US imports of hot dipped galvanized sheet and strip (HDG) totaled 157,346 mt in August 2020, down 24.2 percent from July and down 15.2 percent from August 2019 levels. By value, HDG imports totaled $146.7 million in August 2020, compared to $180.5 million in […]

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US merchant bar exports down 4.3 percent in July

According to export data from the US Department of Commerce, US exports of light-shaped bar (merchant bar) totaled 3,008 mt in July 2020, down 4.3 percent from June and down 5.9 percent from July 2019 levels. By value, merchant bar exports totaled $2.6 million in July, compared to $2.5 million in the previous month and […]

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Danieli Group records slightly lower results in FY 2019-2020

Italy’s Danieli Group, based in Buttrio, Udine, closed the 2019-2020 financial year (which ended last June 30) with revenues of €2.8 billion and a net profit of €62.9 million. In the previous financial year, revenues and profit were respectively €3.07 billion and €67 million. The order backlog decreased slightly as well, from €3.1 billion to […]

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Taiwan’s basic metal output up 9.45 percent in August from July

Taiwan’s industrial production index in August this year increased by 3.58 percent compared to July and was up by 4.70 percent year on year, according to the country’s Ministry of Economic Affairs (MOEA). Meanwhile, Taiwan’s seasonally adjusted industrial production index in August rose by 3.58 percent compared to the previous month and advanced by 5.25 […]

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Turkish basic metal manufacturing capacity use down in September from August

In September this year, the capacity utilization rate in the Turkish basic metal manufacturing industry was 79.2 percent, down from 80.4 percent recorded in August, while the capacity utilization rate in the Turkish basic metal manufacturing industry was 75.7 percent in September last year, according to the provisional data released by the Central Bank of […]

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Australia to face lower iron ore earnings from 2021 due to falling prices

As prices move down, Australia’s export earnings are forecast to fall to A$80 billion by 2021-22, according to the quarterly outlook report by the Australian government’s department of Industry, Innovation and Science. Australia’s iron ore export values rose from A$78 billion in 2018-19 to A$102 billion in 2019-20 due to the growing volumes, strong prices […]

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