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Sibanye-Stillwater declares R3.9bn half-year dividend

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021.

Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

Steel producer Hoa Phat Group has signed a contract to export 8,000 tonnes of rebar to Mexico, its first order from the North American country.

The bill includes incentives for companies that include union workers, but the overwhelming focus is on boosting US production and employment, he said.

The European scrap supply system is highly dependent on inland river transportation.

Lead times for CRC rose slightly to 6 weeks from 5-6 weeks while HDG lead times edged down to 4-5 weeks from 4-6 weeks.

The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices.