March 2024

Turkish long steelmaker Bastug Metallurgy to be sold due to financial difficulties

Long steel producer Bastug Metallurgy will be acquired by a Turkish businessman due to the company’s financial troubles, a company spokesperson told Fastmarkets on Thursday March 28.

Brazil's Usiminas targets 15% reduction of CO2 emissions by 2030 with BF3 revamp, scrap, biomass

Brazilian steelmaker Usiminas announced on Wednesday March 27 that it will target a 15% reduction of its greenhouse gas (GHG) emissions by 2030 by relying on its revamped No3 blast furnace (BF) and by increasing its scrap and biomass use.

China steel to benefit from carbon-neutrality push; raw materials could take hit

China’s pursuit of carbon neutrality is positive for steel in the mid-to-long term, but negative to prices of steelmaking raw materials amid mills’ attempt to maintain margins, an industry expert said at an conference on Friday March 22.

China's crude steel output falls at slower pace in mid-March on demand recovery

China’s crude steel output fell at a slower pace in mid-March compared with earlier in the month, according to data published by China Iron & Steel Association (CISA) on Monday March 25.

Vale to develop US iron ore briquettes industrial unit with DOE’s decarbonization investment

Brazilian iron ore producer Vale will develop an industrial briquette unit in the US after being selected by the US Department of Energy (DOE) to begin award negotiations of up to $282.9 million, the company said.

Billions to flow from US gov into metals; energy key: Hotter Commodities

The US could get a new primary aluminium smelter, investments in copper recycling, and projects to decarbonize iron and steelmaking as part of a $6 billion government package announced on Monday March 25.

Brazilian steel scrap exports continue rising amid weak domestic sales

Brazilian steel scrap dealers continued to increase their exports in February, to compensate for a weak domestic market, while facing a troubled domestic market with low sales and diverging price trends, national scrap association Inesfa told Fastmarkets on Friday March 22.

China's slab exports rise 120% y-o-y in January-February

China's slab exports rose in the first two months of 2024, but billet exports dipped, according to data published by the country’s General Administration of Customs on Wednesday March 20.

Chilean steelmaker Huachipato halts production, citing insufficient safeguards against Chinese imports

Compañía Siderúrgica Huachipato (CSH), Chile’s main steel producer, has halted production indefinitely, deeming newly announced anti-dumping duties in the country as “insufficient” against price distortions from Chinese products, parent company CAP Group said on Wednesday March 20.

Brazilian flat steel distributors' sales fall in February, threaten demand recovery, Inda says

Demand from the automotive, construction and machinery sectors in Brazil did not recover in February, so there was no expected boost to flat steel sales, with the possible result that first-quarter comparison figures will be negative, national flat steel distribution association Inda said on Thursday March 21.