Metallurgy news

• Sellers reduce export prices for billets to ASEAN countries Suppliers are eager to make deals, while buyers in Southeast Asia prefer to delay purchases. Offer prices have gone down over the past week. In Manila, the offer of a Japanese electric arc furnace is $745/tonne francs, compared to $760-770/tonne francs in the last week of April. A leading... 10.05.2022  11:25

• US suspends tariffs on steel imports from Ukraine On May 9, the US suspended for one year its 25 percent Section 232 tariffs on steel imports from Ukraine, noting the industry's importance to Ukraine's economy as the country continues to defend itself against Russia. "We need to enlist their support and support one of the most important... 10.05.2022  10:48

• UK freezes assets and imposes sanctions against Evraz According to Gov.uk, on May 5 the UK government announced sanctions against Evraz plc. As noted on the website, the metallurgical and mining company operates in industries of strategic importance to the Russian government. Evraz plc produces 28% of all Russian railway wheels and 97% of rail... 06.05.2022  09:59

• Stainless steel prices hit multi-year high in Asia According to a report by MEPS International Ltd., MEPS Asia average 304 hot and cold rolled coil prices in April are at their highest level since August 2008. In recent months, the growth rate has accelerated, mainly due to the rise in the cost of nickel. However, the rise in Asian stainless... 06.05.2022  09:58

• Ukraine officially closes some seaports The Ministry of Infrastructure of Ukraine issued an order to temporarily close four major seaports, including the ports of Berdyansk, Mariupol, Kherson and Skadovsk, which were officially closed until Ukrainian authorities regained control in order to ensure proper navigation. security. In fact,... 06.05.2022  09:55

• The price of iron ore falls due to limited trading The price of iron ore fell on Wednesday amid limited trading activity due to the absence of Chinese market participants. “Because Chinese participants were absent from May 1-4 for the Labor Day holiday, trading activity was very limited this week, further dampening demand,” Fastmarkets said in a ... 05.05.2022  11:22

• US begins review of Section 301 tariffs on imports from China The US has begun reviewing Section 301 tariffs imposed on Chinese products before they expire on July 6 and August 23. Some politicians have called for lower tariffs to ease consumer pressure to raise prices. On May 3, the Office of the United States Trade Representative (USTR) said it would... 05.05.2022  11:05

• Global steel production continues to decline in March The first quarter of 2022 has been a difficult one for global steel production. Production was 456.6 million tonnes, down 6.8% from the same period in 2021, according to the latest figures from the World Steel Association. The two most important factors behind this decline were a new surge in... 05.05.2022  10:53

• TMK plans to launch pipelines for transporting hydrogen Russian steel pipe manufacturer TMK has announced that the company plans to bring hydrogen transport pipes to market in the second half of this year. Currently, tests of pipes for transporting hydrogen are being completed. As part of the forthcoming transition to low-carbon technologies, TMK... 04.05.2022  10:54

• UK introduces zero duties on all Ukrainian goods The UK has announced that it will decide to give Ukrainian goods preferential treatment with zero tariffs and remove restrictions on Ukrainian import quotas to help Ukraine rebuild its economy. In addition, the UK also announced on April 25 that it will ban the export to Russia of equipment and... 04.05.2022  10:52