Ternium Q3 profit drops 84%, sees lower steel margin ahead
By Gabriel Araujo and Kylie Madry SAO PAULO/MEXICO CITY (Reuters) -Steelmaker Ternium reported an 84% drop in its third-quarter net income to $220 million on …
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Tata Steel’s Dutch arm signs MOU to supply Ford with green steel
By Toby Sterling AMSTERDAM (Reuters) – Tata Steel’s Dutch arm plans to supply Ford plants in Europe with “green” steel after 2030, under a preliminary …
S.Korea’s POSCO Holdings sees steel demand remaining weak; Q3 profit tumbles
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s POSCO Holdings on Monday forecast weak steel demand would persist into the first half of …
Japan’s Oct-Dec crude steel output forecast to slip
By Yuka Obayashi and Kantaro Komiya TOKYO (Reuters) -Japan’s crude steel output is expected to fall for a fourth consecutive quarter in the last three …
U.S., EU agree to speed up steel talks, keep discussing EVs
WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai and her European counterpart, Valdis Dombrovskis, agreed to speed up talks on global steel issues, among other …
Kobe Steel’s U.S. unit signs technology deal with Sweden’s H2 Green Steel
TOKYO (Reuters) – Japanese steelmaker Kobe Steel Ltd said on Wednesday its U.S. unit, Midrex Technologies, has signed a contract with Swedish steel venture H2 …
POSCO says fire put out at S.Korea steel plant, production halted due to flooding
SEOUL (Reuters) -A fire broke out at South Korean steelmaker POSCO’s plant in the southeastern city of Pohang on Tuesday, a POSCO spokesperson confirmed. “A …
Co-owner of Puyallup steel fabrication business pleads guilty to tax fraud
Tacoma – The co-owner and financial manager of a Puyallup, Washington steel fabrication business pleaded guilty today in U.S. District Court in Tacoma to nine counts …
China to extend anti-dumping duties on steel product from Japan, South Korea, and EU
(Reuters) -China will extend anti-dumping duties on grain oriented flat-rolled electrical steel imported from Japan, South Korea, and the European Union, the country’s ministry of …
Latin America steel demand to fall in 2022 -industry report
By Kylie Madry MEXICO CITY – Steel demand in Latin America could dip through 2022 as the industry faces regional inflationary pressures, price hikes from …
China extends anti-dumping tariffs on EU, UK steel fasteners imports
BEIJING – China’s commerce ministry said on Tuesday it would extend anti-dumping tariffs on certain steel fasteners imported from the European Union and United Kingdom …
Ukraine’s Metinvest urges customers not to buy ‘stolen’ steel
KYIV – Ukraine’s largest steelmaker has urged customers not to buy any products made at its plants in Mariupol because it fears they may have …
Exclusive-India’s Tata Steel bought 75,000 tonnes of Russian coal in May – sources
By Sudarshan Varadhan and Aftab Ahmed NEW DELHI -India’s top steelmaker Tata Steel imported about 75,000 tonnes of coal from Russia in the second half …
S.Korea plans to manage steel scrap as strategic asset as prices surge
SEOUL – South Korea plans to manage steel scrap from cars and abandoned buildings and structures as a strategic material, a government official said on …
Stainless steel maker Outokumpu shares up more than 6% on strong Q1
HELSINKI -Finnish stainless steel maker Outokumpu saw its shares soar more than 6% on Thursday after reporting stronger-than-expected quarterly profits, boosted by higher prices for …
ArcelorMittal increases buyback program, sees global steel dip
By Marine Strauss BRUSSELS – ArcelorMittal reported higher-than-expected core profit in the first quarter on Thursday, but said it now forecast a slight contraction in …
WTO backs some Turkish claims against EU steel import curbs
GENEVA -The World Trade Organization (WTO) accepted some of Turkey’s complaints against European Union measures designed to curb imports of steel and advised the bloc …
Ukraine wants U.N. to be guarantor of safe corridor from Mariupol steel plant
By Max Hunder (Reuters) – Ukraine denied on Monday reaching an agreement with Russia on evacuating civilians from a steel plant in the southern city …
‘I want to see the sun’ begs child in Mariupol steel works
(Reuters) – Women and children sheltering in a giant steel works in Mariupol that is the last holdout of Ukrainian defenders of the southern port …
Tata Steel to consider proposal to split equity shares on May 3
NEW DELHI – The board of Tata Steel Ltd will on May 3 consider a proposal to split the stock and also recommend a dividend, …
Thyssenkrupp puts 1,300 steel workers on short working hours
DUESSELDORF – Thyssenkrupp is cutting working hours for 1,300 of its steel workers, the German conglomerate said on Thursday, responding to the impact of the …
Nippon Steel buys majority stakes in two Thai steelmakers
TOKYO – Japan’s Nippon Steel Corp has completed its acquisition of majority stakes in two electric arc furnace steelmakers in Thailand, paying about $477 million …
China Fangda Group aims to take over state-owned Anyang Iron & Steel Group
BEIJING – A unit of privately-owned Chinese firm Liaoning Fangda Group has offered to buy an 80% stake in state-backed Anyang Iron & Steel Group, …
Russia-Ukraine conflict to have huge impact on global steel demand -Japan steel group
TOKYO -The conflict between Russia and Ukraine, which are exporters of steel products, will have a huge impact on global steel demand and trade if …
European steel prices to extend rally as Ukraine conflict cuts supply
By Eric Onstad LONDON – Surging European steel prices are set to extend their gains as Russia’s invasion of Ukraine has disrupted logistics, spurred sanctions …
U.S. not looking to renegotiate Trump-era steel quotas with South Korea, says Raimondo
By Andrea Shalal WASHINGTON – The United States has no plans to renegotiate a quota agreement forged by South Korea and the former Trump administration, …
Thyssenkrupp drops cash flow forecast, questions steel plans due to Ukraine
BERLIN – Germany’s Thyssenkrupp on Wednesday suspended its 2021/22 forecast for free cash flow before mergers and acquisitions for due to the Ukraine crisis and …
Owner of Steel Drum Company Admits to Defrauding Over $20 Million From a Harford County, Maryland Manufacturer in Kickback Scheme
Baltimore, Maryland – Anthony P. Urcioli, Sr., age 78, of Park Ridge, New Jersey, pleaded guilty yesterday to conspiracy to commit wire fraud and filing …
EU imposes anti-dumping tariffs on Chinese steel fasteners
BRUSSELS – The European Union is imposing tariffs on imports of steel fasteners from China on the basis that they are being sold at artificially …
Former lab director sentenced to prison for falsifying results of steel testing on parts for Navy subs
Tacoma – The former Director of Metallurgy at Bradken Inc. was sentenced today in U.S. District Court in Tacoma to 30 months in prison, and …
Financial Manager for Puyallup steel fabrication business indicted for tax fraud
Seattle – The co-owner and financial manager of a Puyallup, Washington steel fabrication business was indicted today for nine counts of failing to pay over …
Higher steel prices boost Thyssenkrupp amid supply chain strains
By Christoph Steitz and Tom Käckenhoff FRANKFURT – Thyssenkrupp said on Thursday that operating profit rose nearly fivefold in its first quarter, as its two …
U.S., Japan set to announce steel import quota deal-source
WASHINGTON – The United States and Japan on Monday are set to announce a deal to grant Japanese steelmakers relief from Trump-era U.S. tariffs for …
Nippon Steel to seek more merger chances to boost global output
TOKYO – Japan’s top steelmaker Nippon Steel Corp is seeking more merger and acquisition (M&A) opportunities to boost its global output capacity to 100 million …
Steel company forfeits $6 million as part of sentence for immigration violations
DAYTON, Ohio – A steel carport business headquartered in Muncie, Indiana, is forfeiting $6 million for knowingly employing dozens of undocumented immigrants. Company executives paid …