Metallurgy news
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The aluminum deficit deepens furtherThis year, the world consumption of aluminum will be higher than the world production by about 806 thousand tons, which exceeds the previous estimates by almost 217 thousand tons. Analysts say most of all base metals currently have a healthy supply and demand balance compared to other commodities…
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US steel imports rose 5 percent in September 2014According to the Steel Import Monitoring and Analysis (SIMA), the country's imports rose during September 2014 to 3.879 million tonnes, up 5 percent from 3.678 million tonnes of steel recorded in August this year. Imports of finished rolled products in September this year were 3 percent higher…
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China's steelmakers cut product pricesMajor Chinese manufacturers, including Shagang, have announced rebar and wire price cuts of 100 yuan ($ 16) per tonne starting in October following recent declines in raw material prices. The sharp drop in Chinese domestic steel prices as well as iron ore prices continued throughout September…
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SUMITOMO CORP Shares Drop To 18-Year Low On Shale Gas Project LossesSumitomo Corp, a Japan trading house associated with the steel products, engineering, energy and minerals business, cut its annual profit forecast by 96 percent on losses on a US shale gas project and plummeting iron ore and coal prices. Japanese trading houses have invested heavily in North…
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Mexican government considers anti-dumping tax on steel importsAt the request of domestic hot rolled steel coil producers, the Mexican ministry has announced an open investigation into the import of hot rolled strip from China, France and Germany. According to the Cancero Steel Association, the Ministry was approached by the companies Ternium and Altos Hornos…
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NLMK improves efficiency of blast furnace operationsNLMK Group, Russia's largest manufacturer of high value-added steel products, has improved the energy efficiency of blowing equipment used in blast furnace processes in Lipetsk. This upgrade will enable NLMK to reduce its environmental impact and save approximately RUB 210 million per year by…
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POSCO has developed a super corrosion-resistant stainless steelThe new stainless steel product can be used as special pipes for reactors, through which seawater and hot steam, which is generated during the cooling of a nuclear reactor, pass. This steam will then be used to rotate the turbine to generate electricity. POSCO stated that the stainless steel was…
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Steel contracts hit record low in ChinaSigns of weakness in the world's second largest economy emerged when it was reported that the country's industrial profits had dropped 0.6 percent since July. Experts believe that if officials in Beijing do not take the necessary measures on this issue, it could lead to more depressing upcoming…
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Steel production in Europe increased slightly in August 2014The World Steel Association reports that steel production in the EU-28 countries increased slightly during the month of August 2014. The year-on-year growth for the period was 0.4 percent. The largest steel output in August was achieved by Germany. Germany produced 3.133 million tonnes of steel…
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Indian government eases export taxes for KIOCLThe Kudremukh Iron Ore Company Ltd has been granted special permits by the government to export iron ore pellets directly. The permits apply both to the company itself and to any organizations authorized by it for this purpose, which will allow direct export of iron ore pellets and should revive…
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