Market News

  • Network Rail confirms bid for British Steel rail production facilities

    • Network Rail has made an offer for Scunthorpe’s rail service centre at British Steel. The business is one of several national network companies that relies on the company for rail, with contracts in place across Europe. It has stressed the “overwhelming preference” is for a buyer for the whole site, but is willing to step […]

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  • British Steel takeover ‘making progress’

    • The firm due to take over British Steel has said it is confident it will win approval for the deal in the new year. The statement by China’s Jingye comes after a newspaper report suggested the rescue bid could collapse. Jingye said it was continuing to make progress in securing the necessary approvals to complete […]

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  • BCSA Publishes No-deal Brexit Conformity Guide

    • The British Constructional Steelwork Association (BCSA) has published a guide outlining how the steel construction sector can meet the requirements of UKCA Marking in the event of the UK exiting the European Union (EU) with no deal. Should a no-deal exit occur, the government will immediately introduce UK Conformity Assessed Marking (UKCA Marking) on exit […]

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  • Downturn in EU Manufacturing Sector Suppresses Steel Demand

    • Activity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little, […]

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  • US Steel Prices Rebound in August

    • US flat product steelmakers are bucking the seasonal price trend, by pressing for a rise in local values, despite the summer lull in activity. Domestic suppliers, in an attempt to stave off the threat of further losses, introduced a series of list price hikes, during the July/August period. Local mills had little option but to […]

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  • New World Record High for Stainless Steel Output in 2019

    • Global crude stainless steel production is predicted to reach a new record annual total of 53.1 million tonnes, in 2019. This would exceed the previous high figure, set last year, by more than 4.6 percent. Despite strong expansion in emerging countries, such as India and Indonesia, Chinese growth continues to outstrip the world average. MEPS’ […]

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  • Low Seasonal Demand Impedes Steel Price Growth in Emerging Markets

    • The prognosis for the Brazilian steel market is unchanged. Distributors plan to persevere with conservative inventory levels, reflecting a seasonal slowdown in end-user demand. Shipments to companies in construction related activities is weak. Steel price support from export demand is limited. In Russia, steel consuming engineering and manufacturing firms are reluctant to increase production capacity […]

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  • Tata Steel workers lose faith in Thyssenkrupp deal: works council

    • European workers at India’s Tata Steel no longer believe that a joint venture with Thyssenkrupp is in the best interests of the company, the European works council said in a statement. The two companies agreed last year to combine their European steel activities, a move that would create the continent’s second-largest steelmaker but still needs […]

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