The world’s largest steel industry just sent out another warning flare as producers grapple with the coronavirus outbreak: nationwide stockpiles of reinforcement bar have swelled to the most on record. The surge is a reflection of the dislocation cause…
Record stash of steel in China as demand slammed Read More »
The opposition Democratic Alliance has written a letter to Trade and Industry Minister Ebrahim Patel calling on him to brief lawmakers about developments at steel group ArcelorMittal South Africa, which recently warned of additional job cuts at the com…
Patel asked to brief lawmakers on government’s response to ongoing steel job cuts Read More »
Steel producer ArcelorMittal South Africa (AMSA) slumped to a R3.3-billion headline loss in 2019, which the JSE-listed group described as an exceptionally difficult one for the South African economy and also the most challenging for the world steel ind…
AMSA slumps to R3.3bn loss amid ‘exceptionally difficult’ conditions Read More »
Global miner Glencore Alloys and Merafe Resources have started a Section 189A process. The companies confirmed on Friday that written notice had been given to its employees at its joint venture (JV), the Rustenburg Smelter, in the North West.
Glencore, Merafe to retrench Rustenburg Smelter employees Read More »
The Department of Trade, Industry and Competition (DTIC) has received expressions of interest from two parties that may want to buy the Saldanha Steelworks from ArcelorMittal South Africa (AMSA). AMSA last month announced that it would close Saldanha S…
Expressions of interest received for AMSA’s Saldanha Steelworks Read More »
The focus of steel producer ArcelorMittal South Africa’s (AMSA’s) strategic asset footprint review has shifted to its Newcastle mill, in KwaZulu-Natal, following the completion of the first phase of the review, which resulted in a decision to close the…
Newcastle mill now firmly in ArcelorMittal South Africa’s restructuring crosshairs Read More »
Rebar futures in China rose for a fifth consecutive session on Monday amid improving steel margins in the world’s top producer of the construction and manufacturing material. The Shanghai Futures Exchange’s most-traded contract for the construction mat…
Shanghai rebar extends rally as steel margins recover Read More »
The Steel Tube Export Association of South Africa’s drive to open up more export markets for its members will receive a major boost when it participates in an outward selling mission (OSM) to Australia from September 1 to 7. The association’s CEO Keitu…
Steel tube association’s drive to open new export markets to receive boost Read More »
JSE-listed steel group ArcelorMittal South Africa (AMSA) is continuing to pursue tariff relief from electricity producer Eskom as part of broader efforts to navigate an increasingly hostile domestic steel market. The group, which is in consultation wit…
As steel consumption plumbs ten-year lows, AMSA seeks power-tariff relief Read More »
London-based conglomerate GFG Alliance is targeting to list parts of its Australian Liberty Steel business in a deal that could fetch about A$1-billion ($701-million), banking and industry sources close to the company told Reuters.
That is a more mode…
GFG Alliance targets more modest $700m Australia IPO for steel unit – sources Read More »
