Steel
South Korea announced plans on July 1 to generate additional domestic steel demand after the European Union tightened import safeguards. Industry Minister Kim Jung-kwan led talks with local steelmakers in Seoul.
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Aceros AZA inaugurated the modernization of its rolling mill at the Colina plant on Thursday with a US$ 15 million investment. The event comes as the company negotiates with Grupo CAP to acquire assets from the Huachipato steelworks.
Brazil's government has concluded an anti-dumping probe into Chinese cold-rolled steel, finding that imports were sold at unfairly low prices, harming domestic producers. This has resulted in duties of up to US$670 per tonne. Usiminas, one of Brazil's largest steelmakers, initiated the petition in April 2024.
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An explosion struck Nippon Steel's plant in Muroran, Hokkaido, around 1:10 a.m. on Monday, shaking nearby homes. The blast occurred on a hot stove supplying air to the blast furnace, with no injuries reported and the fire controlled after about seven hours.