A Chinese Steel Giant Is Upsetting the Global Nickel Market

Re-Blogged From Bloomberg

Behind one of China’s biggest industrial companies is a husband and wife team that reinvented how to make stainless steel.

The company founded by billionaire Xiang Guangda and He Xiuqin has transformed the stainless steel industry this century. Now, it’s upending the nickel market.

With cheaper production techniques, Xiang Guangda and his wife He Xiuqin helped change the industry in less than two decades — turning Tsingshan Holding Group Co. into a company that churns out a fifth of the world’s stainless steel and creating a billion-dollar fortune. Now it’s making waves in a different market: the London Metal Exchange.

Continue reading

BlueScope Invests $1 billion in the US Steelmaking

By Ross Greenwood – Re-Blogged From 2GB

Steelmaking giant BlueScope is investing in a $1 billion expansion in the United States, with energy costs one-third of those in Australia.

They have announced a huge expansion to a key mill in the United States which has the benefit of lower energy costs.

BlueScope CEO Mark Vassella tells Ross Greenwood he is concerned about the impact of energy prices.

Climate Change Friendly Green Steel: “Society Would Have to Accept Higher Costs”

By Eric Worrall – Re-Blogged From WUWT 

Steel makers are eager to keep us informed of their efforts to find less carbon intensive ways to produce steel, though they worry production costs will have to rise.

Cleaning up steel is key to tackling climate change

Technology to make grey metal green will not be rolled out commercially until 2030s

Globally, steel is responsible for 7 per cent to 9 per cent of all direct emissions from fossil fuels, with each tonne produced resulting in an average 1.83 tonnes of CO2, according to the World Steel Association.

And as the world’s population grows, demand is only predicted to increase.

Blast furnaces of Třinec Iron and Steel Works, Czech Republic

Blast furnaces of Třinec Iron and Steel Works, Czech Republic. By Třinecké železárny, Attribution, Link

Continue reading

Trump Tariffs on EU, Mexico, Canada Draw Retaliation Threats

By Associated Press – Re-Blogged From Newsmax

The Trump administration’s announcement Thursday that it will impose tariffs on steel and aluminum imports from Europe, Mexico and Canada drew swift vows of retaliation from key allies, inflamed trade tensions and sent stock markets sinking.

The administration’s move threatens to inflate prices for U.S. consumers and companies and heighten uncertainty for businesses and investors across the globe.

Continue reading

Germany Desperate to Avoid Trade War With Trump

By Thomson Reuters – Re-Blogged From Newsmax

As Europe’s biggest exporter to the United States and with more than 1 million German jobs at stake, Germany is desperate to avoid a European Union trade war with the United States.

In the run-up to a June 1 deadline for U.S. President Donald Trump to impose steel and aluminum tariffs on the EU, Berlin is urging its European partners to show some flexibility and pursue a broad trade deal that benefits both sides.

Continue reading

Trump Hits China With the Tariffs We’ve All Been Waiting For

Re-Blogged From Stratfor

Highlights

  • The United States has launched its first major trade and investment measures against China, but they won’t be the last as the White House looks to make good on its protectionist promises.
  • China will be compelled to respond in kind and may prompt the United States to retaliate in the process.
  • As the United States moves forward with its aggressive trade agenda, the need to minimize the domestic fallout of its policies will restrain the White House.

The president promised that the first measures he rolled out on Beijing will not be the last.

(MANDEL NGAN/AFP/Getty Images)

Continue reading