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European steel market seeks direction
Mills will seek to raise prices, at the earliest opportunity.In Germany, meanwhile, confidence in the state’s ability to act is at a new low.Distributors and service centres are waiting for September, to evaluate the price direction.A recent recovery in Chinese steel demand appeared to offer positive signals for the international market.Few distributors felt compelled to place stock purchases in advance of the holidays.

🔗MEPS International

🌎 International · 🗓️ August 29, 2023 · Steel

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EU coil price outlook deteriorates
The outlook for steel consumption in the rest of this year is weak.In the distribution sector, conditions in Germany and Spain are reported to be particularly weak, with activity in France faring slightly better in comparison.Seasonal stock replenishment is predicted in the autumn.Despite the expectation that the low point in the current cycle had been reached, prices for steel coil continued to decline in mid/late July, albeit modestly.One of few positives for steel coil demand is the automotive sector.

🔗MEPS International

🌎 International · 🗓️ August 29, 2023 · Steel

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Goa government approves expansion of rebar manufacturing company
The government has approved that despite extending beyond the industrial estate, the entire expansion project will be deemed to be within the estate, the official said.The company however did not disclose investment riding on the expansion.The approval is necessary as the company mill is located in an industrial estate but the expansion project will extend over 9,000 square meters outside the industrial zone.The company proposed to increase its installed capacity for production of rebars to 150,000 mt per year from 100,000 mt per year at present.

🇮🇳 India · 🗓️ August 29, 2023 · Steel

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Tata sees demand for its anti-microbial steel in global market
Tata Steel Ltd.The company expects demand for the product in the local market to pick up soon.The plant was earlier with Bhushan Steel, which Tata Steel acquired in 2018.When applied in combination with paint, the formulation can kill 99% of the bacteria on the surface of steel sheets, reducing the need for frequent sanitisation of the coated surfaces as it hinders the survival and replication of bacteria.In 2022-23, the company developed 107 products, of which 68 were in India.

🇮🇳 India · 🗓️ August 29, 2023 · Steel

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Indian inter-ministerial committee in discussions on levy of AD duty on ex-China imports
Proposals for imposition of antidumping duties on imports from China, including the steel ministry’s proposal for such a levy on stainless steel imports and the recommendation of the Director General for Trade Remedies (DGTR) for a five-year extension of the levy on steel wheels, are on the agenda of the committee, the sources said.The sources said that an official of the Prime Minister’s Office (PMO) will be chairing the committee comprising representatives from the ministries of steel, finance and commerce and industry.90 billion in the previous year.60 billion in 2022-23, from $72.They pointed out that India’s trade deficit with China increased to $77.

🇮🇳 India · 🗓️ August 29, 2023 · Steel

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