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Steel: EU import quotas steadily running out
According to data compiled by UK Steel, European steel importers used more than half of their quotas for the third quarter, while British importers used just over a third. Demand in the EU and U.K. was weak during the summer months, but competitive imports from Asia...
HRC steel: EU market needs production cuts to halt falling demand
Market participants said they believe production cuts are necessary to stabilize the bearish market, with steep discounts not stimulating trading. Hot-rolled coils in northern Europe were down 15 euros/mt on Aug. 24, settling at 765 euros/mt ex-works. However, overall...
Steel: purchases by Brazilian distributors increased 5.2 percent on a monthly basis
Purchases by Brazilian steel distributors increased 5.2% on month and 12.3% on year in July to 332,300 tons. The group also showed that flat steel sales increased 20.6 percent year-on-year in July, up from 261,400 tons in the same period a year earlier. At the same...
Steel: India will become the largest producer
According to Indian Steel Minister Jyotiraditya Scindia, India will become the world's largest steel producer in the future. Currently, the country is the second largest steel producer after China. The minister also stressed that the promotion of domestically produced...