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2019 - 11 - 04
Iron ore shipments to China from Australia’s Port Hedland terminal rose 14 percent in December from a month earlier, port data released on Thursday showed.Iron ore shipments to China from the world’s biggest iron ore port totalled 37.4 million tonnes in December, compared with November’s 32.9 million tonnes, the Pilbara Ports Authority said.Port Hedland is used by three of Australia’s top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rinehart’s Hancock Prospecting.
2019 - 10 - 29
Japan’s crude steel output for the January to March quarter is expected to fall from a year earlier due to troubles at some steel plants, despite steady local demand from automakers and other manufacturers, the industry ministry said on Thursday.The Ministry of Economy, Trade and Industry (METI) estimated crude steel output of the world’s second-biggest producer would drop to 26.31 million tonnes for the three-month period, down 0.4 percent from a year earlier. This would mean a third consecutive quarterly decline.Demand for steel products, including those for exports, is forecast to decline 1...
2019 - 10 - 21
Steel producer Nucor Corp said on Monday it would spend about $1.35 billion to build a plate mill in the U.S. Midwest, taking advantage of federal tax cuts that has resulted in windfall gains for several companies.Nucor is also benefiting from higher steel prices for domestic producers due to tariffs imposed on imports by the Trump administration last year.The new mill, which is expected to be fully operational in 2022, would produce 1.2 million tons a year of steel plate products and create about 400 full-time jobs, the company said.“Tax reform, continued improvements to our regulatory a...
2019 - 10 - 18
British industrialist Sanjeev Gupta’s GFG Alliance is on the lookout for further acquisitions in the United States to expand its footprint in the Midwest and East Coast, the privately held steel and energy conglomerate said on Wednesday.GFG is also considering building out steel capacity at its new Keystone Consolidated Industries (KCI) plant in Illinois and restarting a furnace at its Liberty Steel Georgetown plant in South Carolina, it said in a statement.“There is a growing desire to buy American-made rather than imported steel and we are very well placed ... to serve that rising demand,” e...
2019 - 10 - 16
China’s steel prices edged up on Thursday amid expectations of firmer demand as the government takes steps to support the economy and on concerns that supply could tighten as winter production curbs bite.The outlook for demand from construction was buoyed as two cities in China relaxed restrictions designed to curb real estate flipping - the latest sign of efforts by local governments to revive flagging property sales.Meanwhile, China’s central bank on Wednesday rolled out a targeted policy tool to spur lending to small and private firms.“Policymakers have taken more steps to ease downtrend ec...
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