Vietnamese steel production expected to grow by 20% in 2018

16 July 2018. According to the Vietnamese Ministry of Industry and Trade, total domestic steel production is expected to gain a year-on-year growth of about 20% this year. In particular, construction steel segment is expected to grow by 10%, cold-rolled steel sheets by 5%, welding steel by 15%, and galvanized steel at 12%. Hot-rolled steel … Continue reading Vietnamese steel production expected to grow by 20% in 2018

India keen to join Russia in WTO case against US on steel, aluminium duties

16 July 2018. India has expressed its willingness join the World Trade Organisation (WTO) dispute consultation requested by Russia as third party against the US decision to impose high customs duties on certain steel and aluminium products. India has also expressed its willingness join the WTO dispute consultation requested by Norway as third party. Exports of Indian … Continue reading India keen to join Russia in WTO case against US on steel, aluminium duties

Capitalize on bargain buys and brand positioning in future markets for strategic growth

The global steel market conditions over the past years have engendered distressed assets in the global steel industry, as steel players who were not financially strong enough to weather the storm were forced to entertain new investors at attractive offers. Given today's protectionist climate, buying into new markets may be more effective than attempting to … Continue reading Capitalize on bargain buys and brand positioning in future markets for strategic growth

The Malaysian steel industry may not win the capacity game, but that is not as disadvantageous as it would seem

Unlike most steel industries around the world, the Malaysian steel industry seemed to have "bypassed" blast oxygen furnaces ("BOF") right from the start. Historically, production of crude steel has been delivered solely through electric arc furnaces ("EAF"), which totaled 3.2 million metric tonnes in 2017. While EAFs may not yield the same economies of scale … Continue reading The Malaysian steel industry may not win the capacity game, but that is not as disadvantageous as it would seem

In slow-growing markets, consolidate to be structurally stronger, not structurally bigger

"The European market is growing at 1-1.5% a year. We just want to have significant relevant size. As of now, the intention is to make the [ThyssenKrupp and Tata Steel] joint venture work, and make it profitable and sustainable. This market is not a growth market where you build capacity. It is a market where … Continue reading In slow-growing markets, consolidate to be structurally stronger, not structurally bigger

Tashin Holdings Berhad expanding into manufacturing of wire mesh products

12 July 2018. Penang-based steel player Tashin Holdings Bhd, a unit of Prestar Resources Bhd, is offering 59.33 million new shares in an initial public offering to fund its expansion into manufacturing wire mesh products. The group has identified an industrial land in Seberang Perai, Penang, close to its existing factory, for the expansion, projected to have … Continue reading Tashin Holdings Berhad expanding into manufacturing of wire mesh products

Lessons we are learning so far from the Section 232 fallout

It works. The Section 232 tariffs have begun to resurrect the U.S. steel and aluminium industries, as existing U.S. steel and aluminium mills prepare to reopen or expand production. There is a sudden resurgence as U.S. steelmakers rally. Reports indicate that the U.S. steel industry may return more than 7,000 jobs—nearly 40% of the 19,000 … Continue reading Lessons we are learning so far from the Section 232 fallout

Malaysia High Court backs safeguard duties for steel wired rods and deformed bar in coils

13 July 2018. Safeguard duties against imported steel wired rods and deformed bar in coils into Malaysia will be maintained. On 27 June 2018, the Malaysia High Court dismissed the Steel Wire Association of Malaysia's challenge against the imposition of definitive and final safeguard duties on steel wired rods and deformed bar in coils imported … Continue reading Malaysia High Court backs safeguard duties for steel wired rods and deformed bar in coils

Positive sentiments from China’s rationalization of its steel industry are marred by the escalating war on steel trade

As the Chinese government intensifies its commitment on rationalizing the overcapacity in steelmaking within its borders through tighter environmental regulations and policy-driven production cuts, the resulting outcome looks to benefit global steel industries, as the rationalization creates a healthier marketplace capable of supporting fairer steel prices and relaxation of anti-dumping trade measures. Unfortunately, the continuing … Continue reading Positive sentiments from China’s rationalization of its steel industry are marred by the escalating war on steel trade