BEIJING—An explosion at a steel mill in China’s northeast killed at least four people and left five hospitalized with injuries, the city government said Friday. A blast furnace exploded Thursday morning at the Yingkou Iron and Steel Co., Ltd. in Yingkou, east of Beijing in Liaoning Province, the city’s Emergency Management Bureau said in a…
Canada Bans Russian Steel, Aluminum Imports as Part of Sanctions Regime
Canada is banning the import of Russian steel and aluminum as part of its sanctions regime. Deputy Prime Minister Chrystia Freeland says this will help undermine Moscow’s ongoing invasion of Ukraine. The Department of Industry says Canada imported $208 million in steel products from Russia in 2021 and $79 million last year. Canada also imported…
Steel Giant Shuts Down Plants in Germany, Sparking Energy Crisis Fears
October 26, 2022
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The energy crisis has been hitting Europe’s largest economy hard, with two of Germany’s largest steel manufacturing plants being forced to shut down. ArcelorMittal’s plan to deactivate one of its largest steel plants in Hamburg last month caused shockwaves through out the industry. The world’s second largest steel company also said it would later shut down…
China Establishes a Mineral Resources Group to Strengthen Its Bargaining Power in Global Market
News Analysis China has set up a new state-owned group in charge of centralized iron ore procurement to increase its bargaining power in the international market. China’s iron ore demand is huge. Data shows that since 2016, China’s annual iron ore imports have exceeded 1 billion tons. In 2021, China imported a total of 1.126…
New Document Outlines Biden’s Preference for US Steel and Iron in Infrastructure Projects
The Biden administration is directing federal agencies to prioritize purchasing American-made iron and steel for infrastructure projects. A document released Monday from the Office of Management and Budget offers guidance on how to implement “made in America” requirements from the $1.2 trillion infrastructure plan signed into law in November. The law specifies that federal agencies…
Australia Boosts Steel Manufacturing for Defence, Renewables
The Australian government is pouring millions of dollars into domestic steel production, which will be used across industries, ranging from armoured vehicles and patrol boats to wind turbines and large-scale solar installations. The $55.4 million (US$39.7 million) investment is part of the federal government’s $1.3 billion (US$930 million) Modern Manufacturing Initiative designed to support Australia’s…
US and UK in Joint Talks to Resolve Steel and Aluminum Tariff Dispute
Representatives from the United States and United Kingdom agreed to resolve their trade dispute over U.S. steel and aluminum tariffs in a joint virtual conference on Jan. 20. American representatives are keen on removing the taxes on British metal imports. In March 2018, the Trump administration imposed tariffs of 25 percent on foreign steel and…
US Trade Chief Says Will Engage on UK Steel Talks When ‘Time Is Right’
WASHINGTON—U.S. Trade Representative Katherine Tai signaled on Wednesday that the United States is not rushing to complete a deal to ease tariffs on British steel and aluminum, saying that she will pursue these talks “when the time is right.” Tai, speaking to an online event hosted by the Institute of International and European Affairs, an…
China’s Property Distress Sours Steel Sector in Warning Sign for Economy
BEIJING—Debt problems at a major Chinese property developer have now spilled over into a vital artery of the nation’s industrial engine—the steel sector—and started to ripple through to other critical parts of the world’s second-largest economy. The spreading balance-sheet crisis at real estate firms is a warning for policymakers as a swing in the fortunes…
Japan, US Agree to Start Talks on Additional Steel, Aluminum Tariffs
November 15, 2021
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TOKYO—Japan and the United States have agreed to start discussions aimed at tackling additional U.S. tariffs on Japanese steel and aluminum imports during a bilateral meeting in Tokyo, Japan’s industry ministry said on Monday. The meeting was held between Japan’s Industry Minister Koichi Hagiuda and U.S. Commerce Secretary Gina Raimondo, but a ministry official said…
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