What is Happening in the World of Stainless

16 April 2019

WHAT IS HAPPENING IN THE WORLD OF STAINLESS

Philippines’ Global Ferronickel says to diversify into steelmaking

 

 

Global Ferronickel Holding Inc, the Philippines’ second-biggest nickel ore miner, said on Friday it would partner with Hong Kong-based Huarong Asia Ltd to venture into steel processing.

For the joint venture, Global Ferronickel told the Philippine Stock Exchange that two companies would be created – FNI Steel Corp and FNI Landholdings Corp – in which it will have 51 percent and 60 percent stakes, respectively.  Global Ferronickel said Huarong was headed by a veteran businessman with more than 25 years of experience in the stainless steel business but did not name him.

The joint venture will build a rebar steel rolling plant in the Philippines, which is estimated to have an annual output of 600,000 tonnes.

(Reuters, 29 March 2019)

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Mexico renews 15% steel tariff on countries without trade deals

   
 

Reuters reported that Mexico has renewed a 15% steel tariff on countries with which it does not currently have free trade agreements, after the measure lapse in January.

The tariffs apply to the same 186 products that had been covered before.  The order cited a global supply glut and failing prices, as well as a lack of what it characterised as distortion-free competition.

(Steelguru, 11 April 2019)

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Trump Trade War – CIT rebuffs AIIS’ Section 232 constitutionality challenge

   
 

US Court of International Trade in a ruling on March 25 denied a motion to undo United States President Donald Trump’s blanket tariffs on imports of steel and aluminium.  Relying largely on a 1976 Supreme Court decision – Federal Energy Administration versus Algonquin SNG Inc – the CIT ruled that Section 232 of the Trade Expansion Act of 1962, under which Trump imposed import duties of 25% on steel and 10% on aluminium in late March, does not violate the US Constitution’s separation of powers.

(Steelguru, 11 April 2019)

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China Compass Report 2nd Quarter 2019 – a publication by Beijing Axis

   
 

The China Compass is intended to serve as a navigational instrument for understanding China’s position and its direction in the global economic landscape…

China’s global participation and influence are only rising – and is being played out across many dimensions, i.e. geopolitics, international economics, trade, capital flows and culture.  In our feature segment, we investigate China’s activities and engagement in Africa by looking into its role in African trade, capital flows, and infrastructure.  We also delve deeper into the China – South Africa economic relationship following 20 years of diplomatic ties.

(Beijing Axis, April 2019)

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ArcelorMittal investigates the industrial use of pure hydrogen

   
 

To permanently reduce CO2 emissions, ArcelorMittal has developed a low-emissions technology strategy, which targets not only the use of alternative feedstocks and the conversion of CO2 emissions, but also the direct avoidance of carbon.  This year the Group intends to launch a new project in the ArcelorMittal plant in Hamburg to use hydrogen on an industrial scale for the direct reduction of iron ore in the steel production process for the first time.(Steelguru, 11 April 2019)

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