All posts tagged with Steel Raw Materials
ArcelorMittal to shut South Africa long steel business
ArcelorMittal South Africa (AMSA) has decided to close its loss-making long steel business and halt production by the end of the month, threatening thousands of jobs. The decision comes a year after the company first announced plans to place the operations into care and maintenance. This prompted engagements with the government wherein AMSA sought policy intervention to address structural issues affecting the business. Read More
Weak demand dampens sentiment at Eurocoke
Falling European steel output, strong steel imports and ample availability of raw materials were major themes at the Eurocoke conference in Vienna last week. Market participants told McCloskey that poor demand from Europe and Asia was forcing United States coal miners to implement both production and wage cuts, while European buyers were contending with rising stockpiles at steel mills and terminals. Read More
ArcelorMittal’s De Paula shares LatAm steel views
Brazil's steel industry is navigating a challenging time with high Chinese steel imports and slow investment in sectors such as infrastructure and manufacturing. In an exclusive interview at the AcoBrasil Congress in São Paulo, Jefferson De Paula, CEO of ArcelorMittal, South America, Long, shared his views with McCloskey’s Ranjana von Wendland on the industry and his company’s business in LatAm. Read More
S. Africa imposes 9% import duty on hot-rolled steel
A provisional import tariff of 9% has been levied on hot-rolled steel coming into South Africa in a bid to protect ArcelorMittal SA (AMSA) from a flood of cheap Chinese imports. The application for tariff protection was lodged with the government’s International Trade Administration Commission (ITAC) in February by the South African Iron & Steel Institute (SASI) on behalf of AMSA, the country’s main primary steelmaker. Read More
ArcelorMittal S.Africa warns of losses amid poor market
ArcelorMittal South Africa (AMSA) has warned of widening interim losses amid tough trading conditions and operational issues at its hot-rolled steel plant. The steelmaker last week warned earnings losses for the six months ended in June could potentially quadruple as a result of difficult domestic and regional trading conditions; as well as the impact of operational interruptions of the two blast furnaces at flat steel plant in Vanderbijlpark. Read More