Metallurgy news
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China's steel industry is back to lifeAfter a sharp and sudden contraction in June, activity levels in July across China's steel industry - the largest in the world - are improving again. The purchasing managers' index (PMI) stood at 50.2 in July, well above 45.1 in June. Also, the Manufacturing PMI measures changes in the levels of…
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Russia has increased oil productionOil production in Russia increased by 1.8 percent in July 2016, and this is the 24th consecutive month that production increases year-on-year, according to official figures. Oil production in July was 10.85 million barrels per day, which is almost the same as in June, and only slightly less than…
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Failed coup caused $ 100bn damage to Turkish economyThe Turkish newspaper Hurriyet, quoting Turkish Trade and Customs Minister Bulent Tufenkci, reports that "the attempted military coup cost the Turkish economy $ 100 billion." Although, according to the minister, economic markets have successfully passed this test. On July 20, Turkish President…
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EU imposed five-year anti-dumping duties on Chinese rebarThe European Union has introduced final anti-dumping measures against imports of rebar from China. They will be valid for 5 years. An anti-dumping investigation on the import of rebar from China was launched on April 30, 2015 as a result of a complaint filed by EU metallurgists, and temporary…
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China is expanding its influence on the territory of RussiaImmigrants from China control large agricultural areas in eastern Russia, increasing the economic influence in the region. At the same time, critics speak of a "Chinese invasion", while economists perceive it as economic recovery in the East. While nationalists warn of a takeover by the Chinese…
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ArcelorMittal Europe boosts profitsArcelorMittal Europe released its second quarter 2016 results, which said it generated € 340 million in operating profit, which is much higher than the € 77 million operating profit achieved in the first quarter of 2016. Steel supplies increased by 10.886 million tons, an increase of 4.2 percent…
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Russian economy shows signs of slight recoveryThe contraction of the Russian economy slowed down significantly in June. Industry, agriculture and transport are working especially well. In addition, German Foreign Minister Steinmeier wants to work on easing sanctions against Russia. From low oil prices and sanctions imposed by the West, the…
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AISI: steel imports increased in the USAThe American Iron and Steel Institute (AISI) reported that the United States imported a total of 2,785,771 tonnes of steel in May 2016, up 12.2% from April. The share of finished steel imports on the market is estimated at 23% in May and 24% during the first five months of this year. The main…
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The gold market does not trust the Fed's optimismDespite the fact that the US Federal Reserve left the door open for a potential hike in interest rates in September, according to analysts, the markets are reacting differently. Gold prices are declining from their previous highs, but are still at a profitable level after the Fed left interest…
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Russian iron ore exports up 37% in MayUpdated statistics released by the Russian Customs Committee in its latest report show that the country's iron ore exports rose sharply during May of this year. However, exports for the initial period from January to May this year are still significantly lower compared to the same period last year…
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