Steel Market News From Promisteel

Italian steelmaker Acciaierie restarts No. 2 blast furnace at Taranto steelworks

Italian steelmaker Acciaierie d'Italia recently restarted blast furnace No. 2 at its Taranto steelworks. The blast furnace will be shut down for maintenance from July 2022, and No. 1 and No. 4 blast furnaces will operate normally during the shutdown period. Acciaierie d'Italia plans to produce 4 million tons of crude steel in 2023 and 5 million tons in 2024.

Brazilian steelmaker Gerdau's Araucaria plant shuts down

Recently, Brazilian steelmaker Gerdau's Araucaria steel mill said it would suspend crude steel production this month. The steel plant, located in the southern state of Paraná in Brazil, has an annual capacity of 420,000 tons and will be able to resume operations within a short period of time. Previously, the steel mill ceased operations from 2014 to September 2021 due to insufficient demand.

Formosa Ha Tinh, Vietnam cuts the price of hot coils by US$65/ton for June shipment

Vietnam's Formosa Ha Tinh Steel (FHS) cut its HRC price by $65/mt for June shipments. After the price adjustment, the price of SAE1006 brightened hot coil is 625-628 US dollars / ton CIF Ho Chi Minh City, and the price of SAE1006 non-cleared hot coil is 620-623 US dollars / ton CIF Ho Chi Minh City.

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