Steel

Clarification: US-Russia pact undercuts US mills, caucus says

Fri, 24 Feb 2012 22:16:00 GMT

A story in the Feb. 24 issue said Russian mills cannot sell commodity-grade A36 plate below a first-quarter reference price of $437.07 per tonne under the current suspension agreement with the United States. That threshold price is for hot-rolled plate in coil, not for cut-to-length plate.

Steelscape seeks new suppliers for plant

Fri, 24 Feb 2012 21:21:00 GMT

Steelscape Inc., the Pacific Northwest producer of coated and painted coil, is actively seeking hot-band suppliers to replace its traditional Australian source.

Ohio River mill plan could be off back burner

Fri, 24 Feb 2012 20:54:00 GMT

A long-dormant steel mill project in southern Ohio may be back on track after economic development authorities and the project’s leader met this past week in Lawrence County.

Deacero division buys Mid Continent Nail Corp.

Fri, 24 Feb 2012 20:05:00 GMT

Deacero USA Inc., a unit of Mexican steelmaker Deacero SA de CV, said it has acquired Poplar Bluff, Mo.-based Mid Continent Nail Corp. from Libla Industries Inc.

Chinese steel exports surge 24.7% in Jan.

Fri, 24 Feb 2012 18:00:00 GMT

Chinese steel export volumes surged 24.7 percent in January compared with the same month last year, with shipments to Hong Kong, Russia, South Korea, Thailand and Vietnam logging the sharpest gains.

SWAPS REPORT: OTC iron ore volumes remain low, prices edge higher

Fri, 24 Feb 2012 17:46:00 GMT

Low volumes of OTC iron ore contracts were traded on Friday February 24, brokers told Metal Bulletin.

Production resumed at Outokumpu's Tornio plant after radiation incident

Fri, 24 Feb 2012 17:24:00 GMT

One of two furnaces at Outokumpu’s Tornio plant was exposed to a radiation source during a melting process, which also affected four workers on site at the time, the Finnish company said.

ArcelorMittal agrees to sell galvanized sheet to Russia’s AvtoVAZ

Fri, 24 Feb 2012 17:01:00 GMT

Steelmaking giant ArcelorMittal has agreed to supply galvanized sheet to AvtoVAZ, Russia’s largest car manufacturer, the automobile producer said on Friday, February 24.

Harsco’s Fazzolari resigns; Knueppel tapped in

Fri, 24 Feb 2012 16:21:00 GMT

Harsco Corp.’s top executive has abruptly stepped down from his post after 32 years with the company.

Serbian government holds talks on sale of Smederevo plant

Fri, 24 Feb 2012 16:07:00 GMT

The Serbian government is holding talks with strategic investors from several European countries on a possible sale of Zelezara Smederovo, following US Steel’s January exit from the flats producer, according to a source close to the situation.

PREVIEW: The further adventures of iron ore

Fri, 24 Feb 2012 15:47:00 GMT

Metal Bulletin is hosting its annual China Iron Ore conference in Beijing next week at an important moment for the iron ore market.

China criticises EU probe into plate exports

Fri, 24 Feb 2012 15:44:00 GMT

China’s central government has opposed Europe’s official anti-subsidy probe into Chinese plate exports this week.

LME steel billet prices rise again on strong euro, scrap prices

Fri, 24 Feb 2012 15:44:00 GMT

London Metal Exchange steel billet prices increased again on Friday February 24 on a stronger euro-dollar exchange rate and higher scrap costs, a trader told Metal Bulletin.

Supply hurting low-end OCTG tags: Tenaris

Fri, 24 Feb 2012 15:31:00 GMT

Pricing power for commodity grades of oil country tubular goods (OCTG) is slipping away from producers in the United States and elsewhere as increased domestic capacity and imports pressure tags, Tenaris SA executives suggested.

Whirlpool keeps steel hedging mostly for North American market, director says

Fri, 24 Feb 2012 15:16:00 GMT

Appliance manufacturer Whirlpool is primarily using steel hedging in its North American contracts, a senior director with the steel end-user told delegates at CRU’s 18th World Steel conference in London on Friday February 24.

Ryerson acquires stake in Brazil service center

Fri, 24 Feb 2012 14:42:00 GMT

Ryerson has acquired 50% of Açofran Aços e Metais, a steel service centre based in São Paulo, Brazil.

Mexico's car output hits record high for January

Fri, 24 Feb 2012 13:56:00 GMT

Mexico's car industry produced 202,701 units in January, a record for the month, according to the country's automotive association, Amia.

Ahmsa's 2011 net profit doubles to $129m

Fri, 24 Feb 2012 13:15:00 GMT

Mexico’s biggest integrated steel mill, Altos Hornos de Mexico (Ahmsa), more than doubled its net profit in 2011 compared with the previous year, to 1.65 billion pesos ($128.6 million).

Iron ore option volumes top 2m tonnes in 2012

Fri, 24 Feb 2012 13:12:00 GMT

The iron ore options market has seen over 2 million tonnes of options traded so far in 2012, according to brokerage firms Freight Investor Services (FIS) and Red Ops.

Alberta Coal to seek listing on London Stock Exchange

Fri, 24 Feb 2012 12:56:00 GMT

Canada-based Alberta Coal Corp is to apply for a listing on the main market of the London Stock Exchange (LSE), the company said in a statement on Friday February 24.

CIS billet exporters raise offer prices by $10 to Turkish re-rollers, traders

Fri, 24 Feb 2012 12:31:00 GMT

CIS billet exporters have increased their export offers by $10 per tonne to cash in on the current strong demand in the Turkish domestic market.

Siderar’s results impacted by higher costs despite record sales

Fri, 24 Feb 2012 12:29:00 GMT

Argentina’s flat steel producer Ternium Siderar has reported a 25% fall in its net profit in 2011 as higher raw material and labour costs impacted its operational margin, the steelmaker said.

Brazilian flat steel output down 6% in January

Fri, 24 Feb 2012 12:27:00 GMT

Brazil’s flat steel production went down by 5.9% year-on-year in January to 1.09 million tonnes, according to figures released by the local steel association, IABr

Booming local demand prompts Turkish rebar mills to increse domestic prices by $10

Fri, 24 Feb 2012 11:50:00 GMT

Booming domestic demand and higher ferrous scrap prices prompted Turkish rebar producers to raise domestic prices by $10 this week, according to market participants.

Turkish wire rod mills raise prices by $20 on high foreign sales

Fri, 24 Feb 2012 11:16:00 GMT

A flurry of sales to consumers in the USA, Latin America and the Middle East and North Africa has prompted Turkish wire rod exporters to raise prices by $20 per tonne.

ThyssenKrupp speaks out against violence, right-wing extremism

Fri, 24 Feb 2012 11:04:00 GMT

German steelmaker ThyssenKrupp joined other major German industry bodies in speaking out against right-wing violence on Thursday February 23, as the citizens of Berlin remembered victims of more than ten years of neo-Nazi violence.

Higher scrap costs push Turkish rebar export prices up $10

Fri, 24 Feb 2012 10:53:00 GMT

Turkish rebar exporters have passed on higher ferrous scrap costs to consumers in the export market, according to local market participants.

Europe's carmakers to run at 65-71% capacity in 2012, LMC Automotive says

Fri, 24 Feb 2012 10:04:00 GMT

Car manufacturers in Europe will achieve average production capacity utilisation of 65-71% in 2012, Volker Krueger, director of European business development at automotive research company LMC Automotive, told delegates at CRU’s 18th World Steel conference in London on Friday February 24.

Argentina's crude steel output drops in January

Fri, 24 Feb 2012 09:44:00 GMT

Argentina's crude steel output fell 12.8% in January to 396,800 tonnes from the 454,800 tonnes in December 2011, domestic steel group Acero Argentino said

Dry bulk fleet expected to increase by 12% in 2012, SSY says

Fri, 24 Feb 2012 09:37:00 GMT

The global dry bulk fleet – much of which carries cargoes of iron ore, scrap metal, coal and steel – is likely to grow by 12% in 2012, John Kearsey, head of research at SSY Shipbrokers, told delegates at CRU’s 18th World Steel conference in London on Thursday February 23.

MB TUBE & PIPE: Gulf OCTG pipe use steady but line pipe to rise, Duferco chief says

Fri, 24 Feb 2012 09:33:00 GMT

Consumption of oil country tubular goods (OCTG) pipe in the Middle East is likely to remain stable in 2012, although line pipe uptake could increase in what is an uncertain time for the oil industry, Duferco’s tube and pipe chief has said.

TenarisConfab's 2011 welded pipe sales increase 65%

Fri, 24 Feb 2012 09:23:00 GMT

Brazilian welded steel pipe producer TenarisConfab saw its pipe sales increase by 65% in 2011 compared with the previous year, Confab said in a statement published this week.

IRC turns profitable after production ramp-up

Fri, 24 Feb 2012 09:10:00 GMT

Russian iron ore miner IRC reported its first year of profit since listing in Hong Kong in 2010 after ramping up production at its Kuranankh mine to full capacity.

Iron ore price ‘rangebound at $130-140’ into 2013, CLSA says

Fri, 24 Feb 2012 09:01:00 GMT

The iron ore market could weaken in the short term but will recover in the second half of this year, supported by a lack of new supply, CLSA’s commodities strategist Ian Roper said.

CHINA STEEL WRAP: Price rally loses momentum

Fri, 24 Feb 2012 08:19:00 GMT

This week’s rally in spot prices petered out on Friday, as higher prices already began to put off new buyers.

Time to buy into Vietnam's steel sector is now — sources

Fri, 24 Feb 2012 07:33:00 GMT

Several steel mills in Vietnam are planning to sell stakes, and foreign entities looking to acquire mills in the country should act now, industry insiders told Metal Bulletin.

Scrap prices in Vietnam firm as mills replenish stocks

Fri, 24 Feb 2012 07:21:00 GMT

Ferrous scrap prices in Vietnam rose $10 this week as buyers restocked, trading sources said.

Chinese mills quote higher HRC export prices for May

Fri, 24 Feb 2012 06:01:00 GMT

Chinese steelmakers achieved higher hot rolled coil export prices for May shipment on better bookings for April and stable domestic prices.

AK Steel mulls renewable energy project

Thu, 23 Feb 2012 22:50:00 GMT

AK Steel Corp. could be the first U.S. steelmaker to draw a sizeable part of its electricity from a renewable energy process using gas emitted by its blast furnace.

Hot-rolled steel sheet prices back at Dec. levels

Thu, 23 Feb 2012 22:36:00 GMT

Midwest sheet prices have logged another week of declines as domestic mills attempt to draw reluctant service center buyers off the sidelines in a well-supplied market.

US-Russia pact undercuts US mills: caucus

Thu, 23 Feb 2012 22:28:00 GMT

The Congressional Steel Caucus has urged the U.S. Commerce Department to revise an existing suspension agreement covering shipments of hot-rolled steel from Russia, noting that the current deal gives Russian mills a legal "license to dump" material in the United States.

BlueScope divestiture plan spurs speculation

Thu, 23 Feb 2012 22:25:00 GMT

BlueScope Steel Ltd.’s intent to divest some of its overseas assets has triggered speculation in the United States over which operations there might be up for sale.

Tenaris sees continued tubular strength

Thu, 23 Feb 2012 22:09:00 GMT

Tenaris SA sees energy tubular product demand remaining strong in 2012, the company said Thursday as it reported higher fourth-quarter and full-year net income and sales on the back of increased volumes and average selling prices.

Steel mills reduce graphite electrode intake: GrafTech

Thu, 23 Feb 2012 21:28:00 GMT

Graphite electrode maker GrafTech International Ltd. is forecasting lower electrode sales in 2012 compared with last year as a number of its steel mill customers reduce their orders, particularly in Europe.

Steel import activity slows as sheet prices drop

Thu, 23 Feb 2012 21:26:00 GMT

U.S. steel import activity has slowed significantly in recent weeks amid falling domestic prices and fears that Russian material already en route could flood the market once it starts hitting shores next month.

LME three-month steel billet price stays on upswing

Thu, 23 Feb 2012 17:39:00 GMT

The London Metal Exchange’s three-month steel billet contract continued its day-on-day upward trend on Thursday February 23, having risen by an average $35 since February 20.

SEC charges Puda Coal chairman with fraud

Thu, 23 Feb 2012 17:21:00 GMT

The Securities and Exchange Commission (SEC) has charged the chairman and ceo of Chinese coking coal producer Puda Coal with fraud, the SEC said late on Wednesday February 22.

US braces for influx of steel imports from Russia

Thu, 23 Feb 2012 17:16:00 GMT

U.S. imports of Russian hot-rolled steel are on course to hit their highest levels since late last summer, and that trajectory is expected to continue into the second quarter.

Welspun picks Arkansas for new $100M pipe mill

Thu, 23 Feb 2012 17:13:00 GMT

Welspun Corp. Ltd. has picked Little Rock, Ark., as the site for its new electric-resistance welded (ERW) steel pipe mill, the company said Thursday.

ArcelorMittal plans to buy back bonds worth $1.5bn

Thu, 23 Feb 2012 16:58:00 GMT

Luxembourg-based steel producer ArcelorMittal plans to buy back up to $1.5 billion of its own notes, or bonds, the company said in a statement on February 23.

SWAPS REPORT: OTC iron ore prices push up amid thin trade

Thu, 23 Feb 2012 16:21:00 GMT

The iron ore swaps market saw volumes fall back after several days of vigorous trading, brokers told Metal Bulletin on Thursday February 23.

Ternium to decide on iron ore expansion in Mexico in 2012

Thu, 23 Feb 2012 15:52:00 GMT

Latin American steelmaker Ternium will decide whether to go ahead with an iron ore expansion in Mexico within the next six months, cfo Paolo Brizzio said at a conference call for investors and analysts on Wednesday February 22.

Usiminas appoints new six-strong management board

Thu, 23 Feb 2012 15:27:00 GMT

The board of Brazilian flat steel producer Usiminas appointed its new management team last week, Ternium cfo Pablo Brizzio said in a conference call for investors and analysts this week.

Brazilian pig iron export prices fall as demand dips

Thu, 23 Feb 2012 15:19:00 GMT

Brazilian export prices for pig iron have fallen in two recent deals with US buyers, local sources told Metal Bulletin.

Evraz NA promotes tubular products group execs

Thu, 23 Feb 2012 15:09:00 GMT

Evraz Inc. North America has promoted three executives in its tubular products group.

ArcelorMittal extends blast furnace idling period at Florange site

Thu, 23 Feb 2012 14:58:00 GMT

Luxembourg-based steel producer ArcelorMittal has extended the temporary idling of two of its blast furnaces at its Florange site in eastern France, the company said in a statement on Wednesday, February 23.

CRC import prices to Turkey remain flat

Thu, 23 Feb 2012 14:36:00 GMT

Turkish cold rolled coil import prices remained static this week as lingering concerns over the wavering strength of the euro and a drop in domestic demand stymie the market.

Ludlum cuts electrical steel extra

Thu, 23 Feb 2012 14:30:00 GMT

ATI Allegheny Ludlum Corp., a division of Pittsburgh-based Allegheny Technologies Inc., has cut its grain-oriented electrical steel surcharge to $440 per ton ($22 per hundredweight) effective with April 1 shipments.

FREIGHT REPORT: Rates on main iron ore routes to China edge up

Thu, 23 Feb 2012 14:24:00 GMT

Chartering rates for vessels carrying iron ore on the main freight routes to China posted gains for the first time in more than a week on Thursday February 23, brokerage firm Clarkson Securities told Metal Bulletin.

Turkish domestic CRC prices remain steady

Thu, 23 Feb 2012 13:56:00 GMT

Cold rolled coil prices stayed in the same bracket in Turkey this week, as traders remained cautious as both the market and weather are yet to fully thaw.

Australian miner Cleveland signs MoU for Brazilian iron ore project

Thu, 23 Feb 2012 13:52:00 GMT

Australia-based miner Cleveland Mining has signed a memorandum of understanding (MoU) to acquire and develop a new iron ore project in Brazil’s northern Amapá state.

Turkish HRC prices remain static despite offers rocketing to $710 exw

Thu, 23 Feb 2012 13:41:00 GMT

Turkish domestic hot rolled coil prices remained static this week, despite offer prices from the major mills rising to as high as $710 per tonne exw.

Turkish exporters raise billet prices by $10 on higher scrap costs

Thu, 23 Feb 2012 13:24:00 GMT

Turkish mini-mills this week increased billet export prices by $10 per tonne to reflect higher ferrous scrap costs and an improvement in demand.

Ternium’s 2011 net profit down on Mexican peso depreciation

Thu, 23 Feb 2012 13:11:00 GMT

Latin American steel group Ternium saw its net profit drop to $649.9 million in 2011 from $779.5 million in 2010, the company said.

Australian metallurgical coal shipments to return to 2010 levels this year, Parums says

Thu, 23 Feb 2012 12:27:00 GMT

Shipments of metallurgical coal from Australia will return to levels close to that of 2010 this year, after a flood-affected 2011, Adam Parums, steel consultant at CRU told delegates at its 18th World Steel conference in London on Thursday February 23.

US mini-mills not likely to hedge for some time, SMA president says

Thu, 23 Feb 2012 12:00:00 GMT

US mini-mills are not likely to start hedging through ferrous derivatives within the next few years, Thomas A Danjczek, president of the Steel Manufacturers Assn (SMA), told delegates at CRU’s 18th World Steel conference in London on Thursday February 23.

Pakistan Steel Mills stabilises production but deep-seated problems remain

Thu, 23 Feb 2012 11:56:00 GMT

Pakistan Steel Mills (PSM), the country’s sole mega-steel facility, has begun to stabilise its output after taking delivery of 55,000 tonnes of coal from Australia, and could make further improvements if it were to receive regular shipments of raw material, a spokesman for the company told Metal Bulletin.

Dannemora begins commercial iron ore production

Thu, 23 Feb 2012 11:12:00 GMT

Commercial mining began at Dannemora’s iron ore mine in Sweden on January 13, the company said in a statement on Thursday February 23.

Chinese steel overcapacity will grow more in next five years, Moffat says

Thu, 23 Feb 2012 10:50:00 GMT

Steel production overcapacity in China will continue to grow over the next five years, Gordon Moffat, director general of industry body Eurofer, told delegates at CRU’s 18th World Steel conference in London on Thursday February 23.

Spot 63.5% Fe iron ore prices unchanged at $144-146 cfr

Thu, 23 Feb 2012 08:50:00 GMT

China's imported iron ore market remained firm on Thursday February 23, with buyers still hesitant to place orders due to an unclear market trend.

CHINA STEEL WRAP: Prices up for a third day

Thu, 23 Feb 2012 07:53:00 GMT

Steel prices in China advanced again after more long product mills raised their prices and semi-finished product prices edged higher.

INTERVIEW: SSE Steel to raise rebar, wire rod capacity to 600,000 tpy

Thu, 23 Feb 2012 04:11:00 GMT

Vietnam’s SSE Steel wants to more than double its long product capacity by the end of 2012 to meet higher demand in Vietnam, a senior executive told Metal Bulletin.

Tokyo Steel keeps output steady as it resumes exports

Thu, 23 Feb 2012 03:07:00 GMT

Tokyo Steel will not cut production and will push up exports to handle oversupply in the Japanese market, Kiyoshi Imamura, Tokyo Steel's senior sales director, said.

China CRC exports down in January but likely to bounce later

Thu, 23 Feb 2012 01:00:00 GMT

China’s exports of cold rolled coil are likely to increase in February or March, with mills reporting more orders since Chinese New Year.

Auto shows renewed enthusiasm: Shiloh

Wed, 22 Feb 2012 22:32:00 GMT

The top executive of automotive steel blanks producer Shiloh Industries Inc. is confident that vehicle demand will rise in 2012.

Nickel seesaw impacting stainless buying

Wed, 22 Feb 2012 22:27:00 GMT

Seesawing nickel prices on the London Metal Exchange are having a varied impact on distributors’ order books for stainless flat-rolled, with some seeing increased buying from customers due to the rapidly changing prices and others suffering a sharp drop-off in orders.

Vallourec income narrows on rising costs, euro woes

Wed, 22 Feb 2012 21:57:00 GMT

Vallourec SA saw its profits narrow in 2011 as higher raw material costs and the debt crisis in Europe dampened financial results despite increased sales, particularly in energy tubulars in the United States.

CSI exec urges broader ‘Buy America’ language

Wed, 22 Feb 2012 21:48:00 GMT

California Steel Industries Inc. (CSI) continues to push for a more lenient interpretation of "Buy America" as it seeks to qualify its flat-rolled steel produced from imported slab for use in federally funded infrastructure projects.

ITA drops investigation on drill pipe imports from China

Wed, 22 Feb 2012 21:10:00 GMT

The Commerce Department’s International Trade Administration (ITA) has dropped a duty circumvention investigation on certain imports of drill pipe from China at the request of the petitioners.

ITC sets expedited reviews on silicon, pipe fittings

Wed, 22 Feb 2012 21:04:00 GMT

The U.S. International Trade Commission (ITC) is scheduling expedited five-year reviews to determine whether the revocation of anti-dumping duty orders on silicon metal from China and on stainless steel butt-weld pipe fittings from Italy, Malaysia and Philippines would likely lead to material injury to domestic industries.

Atlas, NSMP team to sell ‘jumbo’ HSS in NA

Wed, 22 Feb 2012 21:02:00 GMT

Atlas Tube Inc. will supply "jumbo" hollow structural sections (HSS) to the North American market in partnership with Japan’s Nippon Steel & Sumikin Metal Products Co. Ltd. (NSMP).

Vallourec's Ohio OCTG plant nears completion

Wed, 22 Feb 2012 20:57:00 GMT

Vallourec SA is "nearing completion" of its new $650-million pipe mill in Youngstown, Ohio, with the mill on schedule to start commercial production this summer as it ramps up to the targeted capacity, it said.

Timken labor pact paves way for $225M project

Wed, 22 Feb 2012 18:25:00 GMT

United Steelworkers union members have voted to ratify a five-year labor agreement with Timken Co., paving the way for a $225-million capital project to move ahead at the company’s Faircrest Steel Plant in Canton, Ohio.

SWAPS REPORT: OTC iron ore market volumes edge lower, prices hold in range

Wed, 22 Feb 2012 18:00:00 GMT

OTC iron ore prices held within range for a second day as volumes edged lower, brokers told Metal Bulletin on Wednesday February 22.

AK, NAS hike most stainless extras

Wed, 22 Feb 2012 17:35:00 GMT

AK Steel Corp. and North American Stainless Inc. (NAS) are raising most stainless surcharges for March on the back of higher nickel and chrome prices.

Cost push sees LME three-month steel billet rise for third day straight

Wed, 22 Feb 2012 17:03:00 GMT

The London Metal Exchange’s three-month steel billet contract had a third consecutive day of price hikes, having risen by a total of $15 since Monday February 20.

HOTLINE: ArcelorMittal guard accused of secretly filming Liege union meeting

Wed, 22 Feb 2012 16:39:00 GMT

Luxembourg-based steel giant ArcelorMittal is investigating allegations that a company security guard used a hidden camera to film a trade union meeting in Liege in October last year.

European domestic plate prices paint a picture of contrasts

Wed, 22 Feb 2012 16:27:00 GMT

Domestic plate prices in Europe continued to show regional contrasts over the past week, market participants told Metal Bulletin.

European HRC prices unchanged, gap between domestic, import prices narrows

Wed, 22 Feb 2012 16:19:00 GMT

European domestic hot rolled coil (HRC) prices remained unchanged this week, with the gap between import and domestic prices closing, traders highlighted to Metal Bulletin on Wednesday February 22.

ASC targets individuals to gain traction

Wed, 22 Feb 2012 15:19:00 GMT

Nearly six months after the relaunch of the American Steel Coalition (ASC), the grassroots organization is targeting individuals along the supply chain to rally behind domestic manufacturing needs.

Ontario’s Del Metals to add light-gauge cut-to-length line

Wed, 22 Feb 2012 15:18:00 GMT

Del Industrial Metals Inc. (Del Metals) has purchased a new light-gauge tension-leveled cut-to-length line for installation at its Mississauga, Ontario, location, the company said Tuesday.

MILLING ABOUT: Atlas Iron appoints new executive team

Wed, 22 Feb 2012 13:50:00 GMT

Australian junior iron ore miner Atlas Iron has appointed a new executive chairman and managing director ahead of the implementation of growth plans that will see it boost production to 46 million tpy by 2017.

CIS mills seek price hikes on plate exports to earn back late 2011 losses

Wed, 22 Feb 2012 13:06:00 GMT

Heavy plate producers in the CIS have started seeking increases on their export prices, thanks partly to the imminent spring in the northern hemisphere, market participants told Metal Bulletin.

Ultimate Steel secures loan deal to strengthen future prospects

Wed, 22 Feb 2012 12:58:00 GMT

Welsh steel fabicator Ultimate Steel has secured a loan facility with Aldermore bank, strengthening its future prospects, the company said in a statement on February 22.

Arfa Iron & Steel will commission DRI module at end of month, md says

Wed, 22 Feb 2012 12:11:00 GMT

The Arfa Iron & Steel Co will commission its newly constructed direct reduced iron (DRI) module at the end of the month, according to md Ahmad Keyvanara.

EU wire rod mills hold domestic prices steady for second week

Wed, 22 Feb 2012 11:51:00 GMT

European wire rod mills have held domestic prices stable for the second week in a row to entice consumers into agreeing deals, market sources told Metal Bulletin.

Southern EU rebar exporters keep prices stable to secure deals from Algeria

Wed, 22 Feb 2012 11:15:00 GMT

Southern European rebar exporters held prices steady to Algerian consumers for the second consecutive week, market sources told Metal Bulletin on Wednesday February 22.

European rebar mills cut domestic prices by $26 to woo consumers

Wed, 22 Feb 2012 10:50:00 GMT

European rebar producers have slashed domestic prices by €20 ($26) to entice consumers back to the market, Metal Bulletin heard on Wednesday February 22.

ENRC agrees 2012 MMK iron ore offtake 4m tonnes lower than 2011

Wed, 22 Feb 2012 10:46:00 GMT

Ukrainian iron ore producer Eurasian Natural Resources Co (ENRC) has renegotiated its long-standing supply contract with Russian steel mill Magnitogorsk Iron & Steel Works (MMK) at a 15% discount to world iron ore prices, ENRC said in a statement on Wednesday February 22.

INTERVIEW: Vietnam Steel seeks iron ore, strategic partner

Wed, 22 Feb 2012 09:59:00 GMT

Vietnam Steel Corp wants to develop iron ore mines to support future expansion of integrated steelmaking, vp Nghiem Xuan Da told Metal Bulletin.