Buffeted by the cold winds of adverse steel market conditions, ArcelorMittal plans to close down its integrated-based longs business in South Africa. But the company will first conduct due diligence and hold discussions with unions and other stakeholders. Up to 3,500 jobs, including contractors’, are at risk. Aggressive cost savings, improved raw material terms, asset […]
Quotas on shipments of ferrous scrap metal from Russia will continue to 30 June next year, the country’s subcommittee for customs tariff and non-tariff regulation has decided. “The extension of current measures will help support prices and supply domestic companies in the metallurgical sector with a strategic raw material,” Interfax news agency quoted the government […]
Global recycler Sims Limited says it will conduct a full strategic review of its activities in Britain, following on from an operational assessment of the business. “Supporting a strategic review have been expressions of interest from potential buyers indicating that these assets may well deliver enhanced value to the company’s shareholders through alternative ownership,” the […]
Emirates Global Aluminium (EGA) has started construction of a 170,000 t/y aluminium recycling plant next to its Al Taweelah smelter in the UAE. The unit will process post-consumer scrap, such as used window frames, as well as pre-consumer material from extrusion production into low-carbon aluminium billets. “Aluminium recycling is key to our metal achieving its […]
The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years. The post Miller: Pig Iron Market Update appeared first on Steel Market Update.
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said. The post US Scrap Tags Up in November, Momentum Could Carry Into February appeared first on Steel Market Update.
The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne. The post CRU Aluminum: Scrap Flows Remain Global Issue as Market Prepares for 2024 appeared first on Steel Market Update.
The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania. The post Ferrous Scrap: Republic Steel Closing – End of an Era appeared first on Steel Market Update.
The government of Kazakhstan has announced it will prolong prohibition of foreign shipments of ferrous and non-ferrous scrap metals for six months from 7 November. First introduced in Q2 two years ago, the measure is intended to alleviate a domestic shortage of the feedstock material and combat illegal circulation of scrap metal. The restrictions apply […]
The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023. The post Ferrous Scrap: Export Market Report appeared first on Steel Market Update.