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...The quota system works on a first come, first served basis....
...At their October 20 meeting, the two sides are expected to announce a Global Arrangement on Sustainable Steel and Aluminium (GSA) curbing exports of Chinese metal which have been flooding the world market...
...Shougang supplies steel to the Chinese military. The study examined the material limits of a class of advanced high-strength steel that has been proposed for use in civil and military applications....
...The truce put in place a temporary system of tariff-rate quotas, which allow exports of metals between the EU and the US with lower levies up to a certain volume....
...In the initial phase, it will cover seven different sectors including aluminium, iron, steel, fertiliser and hydrogen....
...The sprawling Dörtyol terminal, first built in 1984, sits on a hazy stretch of coastline dominated by energy and metals businesses, including Turkey’s biggest iron and steel plant....
...Steel has none of the sensitivities of high-tech social media; US Steel is not a direct supplier to the military....
...Whether the acquisition is approved or blocked by US authorities for national security reasons, Nippon Steel’s current dilemma has significant implications for Japan Inc as companies pursue growth outside...
...On Monday, US Steel announced that it would sell itself to Nippon Steel of Japan at an enterprise value of $15bn....
...Europe’s abundance of coal has so far discouraged its steel industry from transitioning to electric arc furnaces, a method that makes up around 70 per cent of US steel output and mostly uses scrap metal...
...“If the government were to fund two new direct reduced iron systems it could go back to producing 5mn tonnes per year,” Gozzi estimated....
...Steel, among the world’s most commonly used metals, is one of the most politicised sectors in that debate....
...EU exporters pay about €350mn annually on metal exceeding the quota....
...Nippon Steel agreed to an 11.8 per cent increase in base salary, exceeding its trade union’s request for the biggest jump in monthly pay since 1979....
...Gupta, once dubbed the “saviour of steel” for a string of acquisitions across four continents, has been battling to hold together his metals empire since the collapse of Greensill amid allegations of fraud...
...The New York-based asset manager on Monday warned in a report that metals needed for the “monumental” shift from an economy based on fossil fuels to a green system reliant on materials had been vastly underestimated...
...Embattled metals magnate Sanjeev Gupta’s Liberty Steel was also given surplus emissions allowances for a steel mill in Wales that was idled this year....
...Goncalves was born in Brazil, trained as an engineer and has spent his entire career in metals and mining....
...Steel is arguably at the forefront of this....
...Arthur makes a distinction between classic production industries, for steel and the like, and knowledge-based industries....
...It’s steel again Quite honestly, the whole world trading system would be a lot better if the steel industry didn’t exist....
...The two sides paused the dispute two years ago and promised to form a sustainable steel club that would prioritise low-carbon metal, tackle global overproduction and Chinese subsidies....
...BHP steels itself for Chinese economic downturn Mining stocks were once regarded as a proxy for metal prices. Such price sensitivity has dwindled as dividends have taken centre stage....
...Li made his name with ambitious dealmaking, including the £1.4bn acquisition of the London Metal Exchange in 2012....
...In the weeks leading up to Glencore’s AGM in May, the company made a takeover bid for Teck Resources of Canada, a miner of coal used in steel making as well as base metals....
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