Metallurgy news
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Russian wheat prices are growing amid negative forecastsRussian wheat export prices are rising for the third straight week amid persistent concerns over wheat harvests in Russia and Ukraine this summer, analysts say. Last week, the Ministry of Agriculture of the Russian Federation lowered the forecast for the grain harvest for 2017 in Russia to 100-105…
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USA imposes duties on seamless pipes from 6 countriesAccording to the US Department of Commerce, preliminary anti-dumping and countervailing investigations have been carried out on the import of seamless pipes damaging the domestic industry from China, Germany, India, Italy, South Korea and Switzerland. Among them, anti-dumping duties for China…
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Iron ore prices continue their downward trendGlobal iron ore production maintains a surplus, causing iron ore prices to fall this year and traders expect prices to fall further amid weak demand. For large miners such as Vale, Rio Tinto and BHP Billiton, falling iron ore prices make their business more difficult as the iron ore market fell 70%…
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Stainless steel prices are fallingIn all geographic regions, stainless steel products are falling in price, mainly due to lower raw material costs. Thus, buyers minimize their purchases as they expect values to decline. Transaction figures rose during the first months of 2017, stimulating speculative buying at specialist centers…
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Steel production in Ukraine falls by more than 17% in 2017Steel production in Ukraine fell 17.7 percent year on year in January-May this year to 8.7 million tons. Steel production rose 5.5 percent in 2016 to 24.2 million tonnes as the industry rebounded after a sharp drop in 2015 due to the conflict in eastern Ukraine, where most of the country's steel…
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China and EU fail to reach agreement on steel overproductionThe EU-China Summit took place in Brussels on Friday, focusing on climate, trade, foreign policy and security issues. The parties once again discussed the problem of overcapacity in the production of steel in China, and also discussed the implementation of Article 15 of the agreement on China's…
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NLMK seeks changes in the interpretation of the meaning of "Buy America"Made in the USA. Depending on how this is interpreted, a number of US metallurgical companies may have big problems. Following the "made in the USA" principle literally could shut down NLMK Pennsylvania, says Bob Miller, President and CEO of NLMK USA. What appear to be small differences in terms…
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Italian Ilva will resume steel production in early JuneItalian steelmaker Ilva announced that the troubled plant in Taranto, southern Italy, has completed maintenance and decontamination work and will resume production in early June this year. Ylva said in a statement that after the restart, the steel mill will initially operate for 1.5 months in test…
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Exports of steel scrap in China will increase tenfold in AprilDue to China's environmental protection policy, domestic demand for steel scrap continues to decline and supply continues to rise, leading to a drop in scrap prices. Some traders have started looking to increase their scrap steel exports to the Asian market over the past 2 months as Chinese…
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Vale raises production in Q1Vale's iron ore production reached 86.2 million tonnes in the 1st quarter of 2017, an 11.2% increase year-on-year, mainly driven by the S11D project and the Arta project. In the 1st quarter, nickel production reached 71,400 tons, up 14% from the previous quarter, but down 2.9% from the same period…
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