China's Economy Crash: China’s Property Distress Sours Steel Sector
20 Dec 2021
Debt problems at Evergrande - a major Chinese property developer - have now spilled over into a vital artery of the nation's industrial engine - the steel sector - and started to ripple through to other critical parts of the world's second-largest economy.
The spreading balance-sheet crisis at real estate firms is a warning for policymakers as a swing in the fortunes of the steel industry would have significant repercussions for China’s economy, with cement, glass, and household appliances all vulnerable to demand drops.
Already, steel prices are down from their record highs seen earlier this year due to easing demand from construction activities ...
Steel Dispute Reveals Cracks in Corporate Japan
03 Dec 2021
All about the electrical (non-oriented) steel sheets dispute between Nippon Steel and China's Baoshan Steel and associated sales to Toyota, and an alleged technology leak from Korea.
The Iron Ore Catastrophe
11 Nov 2021
In today's investment webinar, Nucleus Wealth's Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Marketing Officer Jayden Stent dive into The Iron Ore Catastrophe that's currently unfolding.
EU, US end row over steel and aluminium tariffs, taking aim at 'dirty' production
31 Oct 2021
The United States and the European Union on Sunday ended a dispute over steel and aluminium tariffs and said they would work on a global arrangement on steel and aluminium to combat "dirty" production and overcapacity in the industry.
Nippon Steel sues Toyota over patent violation
15 Oct 2021
Nippon Steel sues Toyota Motor and a Chinese steelmaker, claiming they violated a patent for producing a steel part used to make electric vehicle motors.
Numsa steel industry strike starts
05 Oct 2021
The Congress of South African Trade Unions is urging workers to join planned activities across the country or staying away from work on Thursday.
Tariff Update - EU Steel and Aluminum Resolution
13 Sep 2021
The U.S. is working towards a resolution with the European Union on steel and aluminum tariffs, while considering more action against Chinese imports. A trade policy expert in Washington, D.C. provides us the latest information and a status update on the U.S.-EU tariff talks.
Feds invest $400M to cut emissions at ArcelorMittal Dofasco in Hamilton
31 Jul 2021
The federal government is making a $400 million investment to reduce carbon emissions at ArcelorMittal Dofasco in Hamilton. Deputy Prime Minister Chrystia Freeland, made the announcement in Hamilton Friday morning alongside Innovation Minister François-Philippe Champagne and Minister of Labour, Filomena Tassi.
The investment is part of a $1.7 billion project to convert the steel production process and phase out coal-fired steelmaking.
Steel Industry Could Lose Billions Over Obsolete Equipment
13 Jul 2021
A new report suggests that steel producers could be forced to abandon tens of billions of dollars worth of equipment in coming decades as the world transitions away from coal.
Global Energy Monitor, a San Francisco energy policy think tank, says that as many nations work to phase out coal as an energy source in order to meet global climate goals, steel plants continue to rely on blast furnaces, which use a coal derivative known as coke to turn iron ore into pig iron, and ultimately, into steel.
The GEM report, according to Reuters, suggests that as coal production winds down, those coal-powered blast furnaces could be idled, and the steel sector worldwide could be forced to write down those 'stranded assets'.
Ex-owners of Italian steelworks jailed over deadly factory pollution
01 Jun 2021
The former owners of Ilva steelworks, Fabio and Nicola Riva, were handed 22 and 20 years in jail respectively for allowing their Taranto-based factory to emit deadly pollution.
Greensill, Gupta and Cameron: what went wrong
13 May 2021
The story of Greensill Capital's rise and fall has everything: investment banks, opaque finance, private jets, trophy mansions and the biggest British lobbying scandal in a generation, involving former prime minister David Cameron. The Financial Times charts the rise of Lex Greensill and Sanjeev Gupta and examines where it all went wrong.
Liberty boss promises 'no closures', despite his steel empire facing financial collapse
01 Apr 2021
With a business fight like no other, Sanjeev Gupta made a key promise as 3,000 staff await news if Liberty Steel can survive another crisis.
Up to 7,000 Australian jobs at stake following Greensill insolvency
09 Mar 2021
Up to 7,000 Australian manufacturing jobs are at stake after financing firm Greensill filed for insolvency in the United Kingdom and Australia.
Greensill provides up to $6.5 billion in financing to British billionaire Sanjeev Gupta's GFG Alliance - $150 million of which applies to Australian operations including Whyalla Steelworks in South Australia, and a coal mine in NSW.
A creditors meeting will take place in eight business days to determine the future of GFG Alliance as it desperately searches for another funder.
Neighbors of Bethlehem Steel to sue over 2016 fire
26 Jan 2021
Court documents say that chemicals including benzene and other dangerous particulates in smoke and soot caused neighbors to get cancer years after fire damage at Bethelhem Steel left properties in ruin.
S. Korea appeals WTO ruling over anti-dumping tariffs on stainless steel bars from Japan
26 Jan 2021
The South Korean government has appealed the World Trade Organization's ruling that said Seoul violated anti-dumping rules partially when imposing tariffs on Japanese stainless steel bars.
This comes as Tokyo filed complaints to the WTO in 2018, claiming that the South Korean government was unreasonably imposing anti-dumping tariffs on Japanese products.
South Korea has been imposing anti-dumping tariffs on stainless steel bars imported from Japan, India and Spain since mid-2004.
RSP Gas Leak Mishap: National Green Tribunal Seeks Report
12 Jan 2021
The National Green Tribunal (NGT) has issued notice to the authorities of Rourkela Steel Plant (RSP) in connection with the gas leak mishap that took four lives. The tribunal has asked the plant authorities to submit a report by February 11. The gas leak incident at the Coal Chemical Department of the plant had claimed lives of the four contractual employees of the plant.
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