Steel Market Production Cuts – Stoppages caused by disgruntled workers cost Sidor, a Venezuelan steel and iron ore producer, US$361m in lost output in 2011, and recent protests may mean that the company misses its 2012 production target of 3.7 mt of crude steel.

Steel Market Production Increases – Eastern China’s Xiwang Special Steel Company will commission a 500,000 tpy heavy bar rolling mill by the end of this month, increasing its finished steel capacity to 2.1 mtpy.

Steel Market Production Increases – Northern China’s Anshan Iron & Steel (Angang) is expected to begin production at its Putian mill with an annual production capacity of 700,000 annealed CRC and 300,000 HDG in the middle of this year.

Steel Market Production Increases – A slew of new SBQ bar capacity expansion projects are in the works due to steady demand from the automotive and heavy equipment markets. So far, the announced capacity increases include a $76m expansion by Steel Dynamics; an $85.2m project by Republic; a $67m expansion by Gerdau; a $290m expansion by Nucor, and a $225m expansion by Timken.

Steel Market Production Increases – UAE-based steelmaker, Emirates Steel, is currently taking bids for equipment for phase 3 of its expansion, which will increase HRC output by more than 50% to 4.6 mtpy from 3 mtpy, and the contract will be awarded in April, nine months earlier than initially scheduled.

Sources: Steel Business Briefing, American Metal Market