Metallurgy news
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MEPS: A new record for steel production will be setDespite the existing global surplus in steel production, MEPS International predicts continued growth in output in the coming years. In 2020, global steel production is expected to reach 1.685 billion tonnes, breaking the previous record recorded in 2014 when production reached 1.662 billion…
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Rising nickel prices lead to higher prices for stainless scrapThe global nickel market reported a production deficit of 52,600 tonnes during the three quarters of 2016, compared with a surplus of 74,800 tonnes in the same period last year. In addition, the nickel market will continue to be in short supply in 2017. The Philippine administration's ban on nickel…
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Taiwan announces anti-dumping duties for steel producers from 6 countriesThe Ministry of Finance (MoF) of Taiwan issued a final ruling recognizing steel exporters from six countries such as China, South Korea, Indonesia, India, Brazil and Ukraine as anti-dumping rule violators who sold their products at unreasonably low prices in the local market. The Treasury…
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November could be the best month for copper in 10 yearsCopper on the LME is currently valued near its highest levels for the year, and in November could provide the largest monthly gain since April 2006. The metal is up more than 20 percent this month. There is optimism in the markets and expectations that global spending on industry and infrastructure…
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Saudi Arabia wants to double gold and aluminum productionOne of the countries hardest hit by low oil prices is Saudi Arabia. Not surprisingly, the kingdom is looking for alternative sources of revenue for the budget. This is part of the special Vision 2030 program, which should reduce the country's dependence on the state of the hydrocarbon market. Saudi…
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Rio Tinto: iron ore market will reach equilibrium within 7-10 yearsAustralian mining giant Rio Tinto believes that the global iron ore supply oversupply will persist for several years, with the market reaching a balance of supply and demand in a maximum of 7-10 years. The iron ore market remains in surplus, as it has been for the past two years, but the mining…
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China increases processing of imported copper and aluminum scrapThe Ministry of the Environment in its 2016 annual report talks about preventing environmental pollution as a result of the growing share of finished products made from scrap metal. This is consistent with the strategic goal of comprehensive modernization of the domestic industry, as calculated by…
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Investors are betting on the parity of the dollar against the euroInvestors expect the dollar to catch up with the euro in the coming months. The currencies of major emerging markets are also falling. Decisive for further development should be, in addition to Trump's economic policies, the question of whether and by how much the Fed will raise the rate in the…
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European mills plan to raise steel prices due to improved demandThe European steel plate market has been strong in recent times. ArcelorMittal has increased European prices for hot and cold rolled steels and galvanized steels, with a € 100 /t gap between the two products. Due to the lack of imports, prices are likely to rise. Italian traders noted that, in the…
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Trump to re-drill in the Arctic?US President-elect Donald Trump announced this week that he will lift restrictions on the energy sector and resume drilling in the Arctic. The Wall Street Journal estimates that the plan could benefit the US economy. The editors note that this week Trump released a video in which he informed about…
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