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Gerdau halts operation of Brazilian plant
The current import tax for steel products in Brazil ranges from 9.In their view, Brazil should adopt a higher import tax for steel products, an alternative already adopted by Mexico, the US, the EU and some countries in South America.The move is in line with the declaration made last week by Gerdau’s CEO, Gustavo Werneck, that the situation of these workers could not be maintained indefinitely, unless the government authorities impose a 25 percent import tariff for steel products, as an alternative to reduce the volume of imported steel products, originated chiefly from China and Russia.6 percent to 3.8 percent, figures considered by the Brazilian steel producers as not sufficient to reduce the volume of imports, which have increased on yearly basis by 48.

🌎 International · 🗓️ October 09, 2023 · Steel

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US rebar imports up 10.4 percent in August
Other top sources of imported rebar in August include Egypt, with 42,178 mt; Mexico, with 13,436 mt; Vietnam, with 11,456 mt; and Canada, with 8,502 mt.The US imported the most rebar from Algeria in August, with 73,593 mt, compared to 22,912 mt in July and 41,071 mt in August 2022.

🌎 International · 🗓️ October 09, 2023 · Steel

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Australia expects iron ore prices to drop to US$100/mt in 2023
The report pointed out that the benchmark iron ore price is projected to average around US$100/mt in 2023, around US$84/mt in 2024 and around US$76/mt in 2025.Following a strong rebound in iron ore prices to a peak of over US$120/mt in the June quarter, the benchmark iron ore spot price fell to around US$108/mt in August this year.Even though iron ore prices fluctuated in the April-September quarter, they have generally moderated since the beginning of this year, due to slowing global economic growth and weakness in the Chinese property sector.The export earnings forecast for the fiscal year 2023-24 has been revised up from A$110 billion in the previous report, reflecting a lower-than-expected exchange rate, slightly higher prices and a small increase in volumes.The price falls reflect slackened demand from Chinese mills.

🌎 International · 🗓️ October 09, 2023 · Steel

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New orders for US manufactured goods up 1.2 percent in August
0 billion.0 billion or 0.1 percent July increase.8 billion or 0.7 percent July increase.

🌎 International · 🗓️ October 09, 2023 · Steel

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Danieli to supply vertical slab caster to ArcelorMittal subsidiary
In this way, Industeel will be able to replace ingot casting to reduce transformation losses and eliminate the scarfing process.The equipment in question is scheduled to be commissioned by May 2025.Accordingly, the slab caster will produce carbon, stainless and nickel-based alloy slabs of a thickness up to 150 mm and of a width ranging from 1,500 to 2,100 mm.Industeel also operates another slab caster revamped by Danieli at its Charleroi plant in Belgium.

🌎 International · 🗓️ October 09, 2023 · Steel

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