The steel industry of China is expected to shrink rapidly, stopping global price fall. The steel industry across the world is fighting the problem of over production as demand weakens in China.
steel industry
Breaking News
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
According to a source, the sale of ThyssenKrupp's Brazilian steel mill was not imminent.
Sinosteel was in talks with Nigerian ministers for about US$6 million worth investment in Nigerian steel mill.
Aperam has teamed up with two steel makers to purchase the plant owned by Outokumpu, which has been aiming to get regulatory approval for purchasing a steel business in 2012.
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- IBM Set to Acquire HashiCorp in Possible Mega-Deal, Stock Skyrockets 24% to $6.1 Billion Valuation
- Student Loan Forgiveness Processing for This Group of Borrowers Will Stop Next Week
- Stellantis Plans to Lay Off Unspecified Number of Workers at US Factories in Coming Months
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- New Biden Administration Rule to Grant 4 Million Workers Overtime Pay; Here's What You Need to Know!