Brazilian iron ore giant Vale SA, (VALE, VALE5.BR) on Tuesday began construction of a 5.8 billion Brazilian real ($3.28 billion) steel mill in northern Brazil, making good on a promise to the government that it would invest more in steel development.
ArcelorMittal South Africa (ACL.JO) said Tuesday that it will lower the prices of some of its steel products and reduce the Sishen surcharge due to a fall in international iron ore prices.
Global crude steel production rose 29% on the year in May to 124 million metric tons, surpassing levels seen in May 2007 when demand was robust and untouched by the financial crisis, the World Steel Association said Monday.
Metallurgical coal producers such as BHP Billiton (BHP, BHP.AU) and Alpha Natural Resources (ANR) are gearing up for a "golden age," with demand likely to remain high for years to come, an industry consultant said Thursday.
ThyssenKrupp AG (TKA.XE) intends to increase prices for hot strip steel from the third quarter of 2010 to pass on higher raw material prices to customers, two company sources told Dow Jones Newswires Wednesday.
Two Brazilian steelmakers this week notified customers of plans to increase steel prices by as much as 10%, an action that could lead Brazil's government to axe steel import tariffs.
Indian companies have laid out ambitious plans to set up steel plants in the southern state of Karnataka as it remains free of the protests and insurgency that have dogged other mineral-rich Indian states.
French industrial gasses company Air Liquide SA (AI.FR) Thursday said it will invest in China a further EUR25 million in a new air separation unit for Dongbei Special Steel Group.
Some Japanese steel makers have agreed to a further hike in the price of coking coal for the July-September quarter, people familiar with the negotiations said Tuesday, which is likely to increase cost pressures for automakers and other major steel buyers.