Steel Mining News

Vale to buy iron ore tech firm New Steel for $500m

New Steel develops iron ore beneficiation technologies and owns patents of dry processing concentration in 56 countries.

UAE’s Emirates Steel refinances $650 million of debt with new loan, sukuk – sources

The company hired BNP Paribas to coordinate a $400 million sharia-compliant loan financing.

ArcelorMittal urges extended, reformed EU caps on steel imports

It is "absolutely critical" that Europe protect itself with measures to restrict imports of steel and remedy weaknesses in its existing system.

Vale says recent dip in global steel prices is temporary

Global capacity utilisation in the steel sector has risen to 76% this year from 73% last year, indicating excess capacity in the sector is shrinking.

Vanadium's electric future hobbled by its industrial past

Supply scarcity and the resulting price volatility are the two biggest hurdles to vanadium's potential bright electric future.

AMT to become first LME ring trader as ferrous liquidity provider

Broker AMT has been appointed by the LME as a liquidity provider for its steel contracts, giving a boost to the market as the first ring trader in that role.

China iron ore hits 4-1/2-month low, steel market under pressure

As steel prices slid, Chinese mills ran up losses for the first time in three years this month, ending years of solid profit margins.

Brazil steelmaker Gerdau cannot find US workers to expand production

"Our main difficulty is finding workers," said Gustavo Werneck, the chief executive officer, referring to its U.S. plants.

Nippon Steel braces for weaker prices amid fears over China slowdown

Natural disasters and glitches at their ageing facilities have prevented Nippon Steel from producing as much steel as they had planned.

India's steel giants to focus on product mix, quality to take on ArcelorMittal

ArcelorMittal's entry into India comes at a time when Indian steel demand is growing at the fastest pace in the world.

Trump's steel tariffs create big profits but few new jobs

"The cost of everything made of steel, has gone through the roof this year."

ArcelorMittal needs one month to restore Kazakh output

Several gas pipelines had been damaged after a fire broke out at the plant.

First Vanadium expands Carlin, Nevada vanadium deposit

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America.

China's industrial heartland Shandong to overhaul energy intensive industries

As part of a new plan to overhaul energy intensive industries, Shandong province is planning to consolidate dozens of small refineries and build mega-petrochemical complexes.

European automakers BMW, Volvo to trial new LME steel contracts

Industry sources say automaker interest bodes well for the contracts, but new contracts usually take years to gain traction and a lack of interest from steelmakers could slow the process.

Vale and Emirates Steel sign major deal

Emirates Steel requires inputs of around 6 million tonnes of iron ore pellets per year.

Russian steelmaker MMK delays decision on Turkish plant restart

One of Russia's largest steel producers has postponed a decision on the restart of hot-rolled steel production at its Turkish plant.

Every US metal producer is down for 2018, despite tariffs

Companies in metals and mining have been hit especially hard amid concern that the rising trade frictions from the tariffs have helped crimp economic growth.

ArcelorMittal remains upbeat as US steel tariffs drive up prices

Arcelor reported a 42 percent year-on-year increase in third-quarter core profit (EBITDA) to $2.73 billion, roughly in-line with analyst expectations.

BHP cuts China, US growth forecasts on trade tensions

The world’s largest miner has cut its economic growth forecasts for the world's two biggest economies as the superpowers engage in a "lose-lose" trade spat.

Eurasian Resources Group forecasts a strong metals price recovery

Following LME Week, Mr Benedikt Sobotka, CEO of Eurasian Resources Group (ERG), predicts a strong metals recovery ahead.

Teck Resources adjusted earnings fall on low commodity prices

Diversified Canadian miner Teck Resources Ltd reported a near 23 percent drop in third-quarter adjusted earnings on Thursday.

Steel wheels from China dumped in US market

The commerce department, has instructed US border officials to collect cash deposits at a margin of 231.7 percent

Ford sees higher metal costs, hopes China and US can settle trade issues

U.S. steel costs are higher than anywhere else in the world, they're certainly up year over year and they're up versus what we were expecting - Joe Hinrichs, Ford VP

China's winter pollution cuts may boost high-grade iron ore

The logic is sound: If steel mills are given pollution restrictions, they will use the best possible quality iron ore to maximise the amount of steel produced relative to the energy consumed.