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CISA predicts rebound in Chinese domestic steel prices

CISA predicts rebound in Chinese domestic steel prices

Chinese steel price which has been declining for almost two months is expected to rise. But it is seen that spot steel price in last week maintained stable on the basis of the steel price before the Dragon Boat Festival, although the wait and watch attitude of the market is still strong. Chinese Iron & Steel Association is also opportunistic [...]

Hebei Steel Set To Emerge As Mega Steelmaker

Hebei Steel Set To Emerge As Mega Steelmaker

Hebei Iron and Steel (000709) won approval from the Hebei State-owned Assets Supervision and Administration Commission for its plan to conduct a private placement, reports China Business News, citing a company filing. The steelmaker announced on June 9 that it plans to raise up to 16.02 billion yuan through a private placement of not more than [...]

Aquila Resources Says China Development Bank to Aid Coal, Steel Projects

Aquila Resources Says China Development Bank to Aid Coal, Steel Projects

Aquila Resources Ltd., a partner with Vale SA in Australia, made an initial agreement with China Development Bank Corp. to develop its iron ore and steelmaking coal projects. “China Development Bank will actively support Aquila both in Australia and China, in the investment in and financing of Aquila’s various projects,” the Perth-based [...]

ThyssenKrupp Opens New Integrated Steel Mill in Brazil

ThyssenKrupp Opens New Integrated Steel Mill in Brazil

“An important milestone in ThyssenKrupp’s global growth strategy is now ready for ramp-up,” said Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG, today (June 18, 2010) at the opening ceremony of the ThyssenKrupp CSA Siderúrgica do Atlântico steel mill in Santa Cruz, Brazil. Ads by Google Particle Counter Read the [...]

Steel giant inks deal with local firm

Steel giant inks deal with local firm

HARARE – The World’s fourth largest steelmaker, South Korea’s POSCO, said last week that it was looking to partner Zimbabwe-based Anchor Holdings in the development silica and other minerals, part of a drive by the steel giant to secure stable supplies of key raw materials. Silica is a raw material used to make ferro-silicon. POSCO said it [...]

69-year-old steel trader is really an Iron man

69-year-old steel trader is really an Iron man

FAIRFIELD -- Jurgen Schlate remembers vividly what happened at the end of his first marathon, back in 1973 in Vermont. "I threw up for 10 minutes," Schlate said, and vowed "never again." Well, that vow didn't last too long, and now the 69-year-old Robson Place resident is getting ready to participate in the 10th annual Nautica NYC Triathlon [...]

Beijing reveals targets for steel mergers

Beijing reveals targets for steel mergers

The Chinese government has announced new targets for consolidation in the steel industry in a renewed campaign to save energy and reduce pollution. Beijing wants three-fifths of steel production capacity to be controlled by the 10 largest mills - which currently control 44 per cent of capacity - within five years, according to guidelines from [...]

Brazil: $8.2bn steel mill fires up private investment

Brazil: $8.2bn steel mill fires up private investment

It is being billed as the biggest private-sector investment in Brazil for 15 years, an $8.2bn steel mill built by 30,000 people that will boost Brazil’s annual steel exports by 40 per cent. It is also another electoral boost for Luiz Inácio Lula da Silva, Brazil’s president, who was at Santa Cruz just outside Rio de Janeiro today to [...]

Chinese steel mills facing contradiction in supply and demand

Chinese steel mills facing contradiction in supply and demand

China’s crude steel production is growing continuously and thus the contradiction of steel supply demand is deepened which is unfavorable to the stabilizing signs of recovery of Chinese steel market. As price is still low and cost is still high, Chinese steel mills are in bad living conditions. In a word, the supply demand contradiction is the [...]

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