South Korean steelmakers are raising the prices of their steel products to reflect increased costs of raw materials, industry sources said Monday, though the price hikes are likely to be lower than expected.
Iranian steelmakers cast 17.188 million tons of crude steel during the first eight months of 2019, marking 6.4 percent of increase compared to the corresponding figure of 2018, which was 16.153 million tons.
Kerman Province’s Baft Steel Complex, with a total investment of $134 million, is ready for official inauguration, announced the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
Iranian steelmakers cast 5.27 million tons of steel products during the first three months of current Iranian year (March 21-June 21), which marks 15.6 percent of growth compared to corresponding figure of last year which was 4.56 million tons.
Iranian steelmakers cast 12.79 million tons of crude steel during the first six months of 2019, marking 5.6 percent of increase compared to corresponding figures the previous year which stood at 12.11 million tons.
Iranian steelmakers cast 10.623 million tons of crude steel during the first five months of 2019, marking 5.5 percent of increase compared to corresponding figure of 2018, which was 10.07 million tons.
A frontrunner to buy British Steel has been deterred by the government’s refusal to provide backing for investment in the Scunthorpe steelworks, amid concern there is just a week left to save the company.
A senior Iranian lawmaker stressed that despite Washington’s hype about its bans and pressures on Iran’s steel industry, the country is still exporting the strategic product, rendering US sanctions obsolete.
President Donald Trump on Friday announced a deal to lift US tariffs on steel and aluminum imports from Canada and Mexico that had created friction between the neighbors and blocked a new North American free trade agreement.
Iran exported 4.89 million tons of steel ingots in the year to March 2019, of which 67 percent were sent to target markets in the form of billets and blooms, according to figures by the Iranian Steel Producers Association (ISPA).