Christopher Rivituso

Liberty Steel's Polish plate producer, Huta Cz?stochowa, faces an uncertain future following a court declaration of bankruptcy, attracting interest from potential suitors like Metinvest and W?glokoks.

After signing a grant funding agreement with the UK government, Tata Steel is eyeing a 2027 start-up of two new electric arc furnaces at its Port Talbot plant in Wales. Many in the steel industry consider the switchover to be a real test for Tata, the UK government, and “green” technology.

Sources say sluggish growth in Germany and declines in input prices have seen European hot rolled coil steel prices continue to fall, extinguishing hopes of a rebound after the summer. Cold rolled coil, a downstream product of hot rolled coil, carries an average premium of €100 ($110) per metric ton over the latter.

German steel industry leader ThyssenKrupp Steel (TKS) recently warned that workers at the Duisburg-headquartered company face deep cuts due to a declining European steel market.

Steel industry leader ArcelorMittal recently commissioned a new, two-stand ladle furnace at its Fos-sur-Mer site in southern France. The Luxembourg-headquartered group stated that the furnace will cut carbon emissions from the flats producer by up to 10%.

India’s Jindal Group has acquired Czech flats producer Vítkovice Steel. The Ostrava-based company released the information to steel news outlets on October 7, stating that Jindal will acquire a 100% stake in the company from its current owners, subject to clearance from anti-monopoly authorities.

Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 ($650) EXW per metric ton, reflecting an increase from deals that were as low as €520-530 in late September. However, those prices also reflect a 25% decrease from the €800 ($865) mills sought in January.

The European Commission (EC) has begun to register hot rolled coil imports from several countries. The EU’s executive arm said the imports are the subject of an anti-dumping investigation for April 1, 2023, to March 31. The registrations concern imports of the flat rolled product from Egypt, Vietnam, Japan and India, the EU Official Journal stated on October 24 – one day before the scheme came into effect.

Big changes seem to be coming for the steel industry in Europe and the U.S. The European Commission, the executive arm of the EU, recently put forth a masterplan for a new industrial strategy in the 27-member bloc. Mainly the work of former Italian Prime Minister Mario Draghi, who now serves as special adviser to EC President Ursula von der Leyen, the plan hopes to boost HRC demand.

British Steel has opened a rail stocking facility at its main works in Scunthorpe, in Lincolnshire, where the company produces rails. The £10 million ($12.6 million) facility will be able to hold up 25,000 metric tons of finished rails in 108-metre lengths, the Jingye-owned company stated on November 20.