Kobe Steel Cuts Decarbonization Budget Amid Global Market Uncertainty *Kobe Steel* has revised its investment strategy for the *2024–2026* period, *scaling back its decarbonization spending* in response to *growing global economic uncertainty*. The decision reflects the...
Global Crude Steel Output Inches Up 0.3% in April, Despite Regional Variations *Global crude steel production rose slightly by 0.3% year-on-year in April*, reaching *155.7 million metric tons (mt)*, according to the latest data from the *World Steel Association (worldsteel)*. H...
Fives Installs Advanced Oxygen System at SN Maia to Boost Furnace Efficiency *France-based engineering firm Fives Group has successfully implemented a new oxygen enrichment system at SN Maia Siderurgia Nacional*, marking its first such project on an existing billet reheating f...
PBOC Cuts Loan Prime Rate for First Time Since October, but Steel Market Remains Unmoved The *People's Bank of China (PBOC) lowered its benchmark loan prime rates (LPR) on May 20*, marking the first cut since October last year. The *one-year LPR was reduced from 3.1% to 3.0%*, and the *fi...
Japan’s Ship Export Orders Plunge Over 50% in April *Japan’s new ship export orders dropped sharply by 52.7% in April compared to March*, according to data released by the *Japan Ship Exporters’ Association (JSEA)*. In April, *Japanese shipbuilders se...
Australia Launches Antidumping Expiry Review on Chinese Rod in Coil Imports *Australia's Antidumping Commission has initiated an expiry review of antidumping duties on rod in coil imports from China*, amid concerns that removing the current measures could lead to renewed inju...
Nippon Steel Announces $11 Billion Investment to Push Through U.S. Steel Acquisition *Japanese steelmaker Nippon Steel has revealed a sweeping $11 billion investment plan* aimed at securing regulatory approval for its contentious acquisition of *U.S. Steel*, according to Reuters repor...
Thailand Initiates Sunset Review of Antidumping Duties on Chinese Wire Rod Imports *Thailand’s Ministry of Commerce has launched a sunset review of existing antidumping duties on high carbon wire rod imports from China*, signaling a reassessment of protective trade measures original...
Vale to Launch Lower Grade Iron Ore Targeting Asian Market Amid Price Pressures *Brazilian mining giant Vale is preparing to introduce a new, lower grade iron ore product in the Asian market* in the coming months, with a strategic focus on *China*, its largest customer base. *Ch...
Suez Canal Offers 15% Discount for Large Container Ships Starting May 15, the Suez Canal Authority is offering a 15% discount on transit fees for container ships with a capacity of approximately 13,500 TEU and above, valid for the next 90 days. This initiat...
European Stainless Steel Prices Expected to Decline Further European stainless steel prices are projected to continue declining due to high inventories in service centers and weak demand in key sectors such as automotive and household appliances. Alessandro Be...
Eurometal Urges Swift Establishment of CBAM Benchmarks Eurometal, representing European steel distributors, has called for the rapid establishment of benchmarks for the EU's Carbon Border Adjustment Mechanism (CBAM). The association expressed concerns ove...
