Metallurgy news

• ASEAN Still Tops China Steel Buyers List In January-October, ASEAN remained the largest buyer of Chinese steel products with a volume of 16.8 million tons, up 16.4% year-on-year or 29.2% of China's total steel exports for the period, China Iron & The Steel Association (CISA) shared in a post on Nov 30. ASEAN countries appear to... 02.12.2021  12:31

• EU and US our narrow loophole in Trump's trade wall The US and European Union authorities recently pledged to end a long-standing trade dispute over steel and aluminum. Under the terms of the new agreement, a system of tariff and tariff quotas will be introduced. This will be based on average import volumes over the three-year period prior to the... 01.12.2021  12:46

• Hot rolled coil prices in the CIS are falling due to weak trade and competition Exports of hot rolled coils to the CIS countries have stopped and there are very few offers left on the market. They are mainly aimed at Turkey, the Middle East and North Africa in general, where some areas of demand are supporting albeit sluggish trade. Russian manufacturers continue to enjoy... 01.12.2021  12:43

• Elon Musk started selling Cybertruck-style steel whistles Renowned American entrepreneur Elon Musk seems to be haunted by Apple's laurels. The billionaire tweeted about Tesla's new product - a steel whistle, which, in his opinion, is better than Apple's famous napkin. “Inspired by the Cybertruck, this limited edition Cyberwhistle is a premium c... 01.12.2021  12:16

• Nippon Steel in talks to acquire a steel mill in Southeast Asia Japan's largest steelmaker, Nippon Steel Corp, is in talks to buy a steel mill in Southeast Asia to provide ironmaking resources for a growing market and boost its overseas expansion, a senior executive said. “Negotiations are under way to protect ASEAN's iron sources,” Takahiro Mori, executive v... 30.11.2021  11:57

• FeSi prices in China rise as production falls The price of 75% FeSi in China rose substantially after seven weeks of decline as of November 26, rising 102 yuan per tonne ($ 16 per tonne) for the week to 8,564 yuan per tonne, including 13% VAT. Sources in the market said the decline in production at smelters provided some support for FeSi... 30.11.2021  11:36

• India orders state-owned enterprises to operate idle mines India's Ministry of Steel has commissioned public sector enterprises (PSUs) to start mining at their dormant mines. Union Metals Minister Ram Chandra Prasad Singh gave the order during a meeting with the CEOs of the Steel Authority of India (Sail), NMDC and Manganese Ore India (MOIL). “The M... 30.11.2021  11:21

• DCE iron ore futures drop 6.5% amid gloomy economic sentiment Iron ore demand pessimism dominates China's commodity futures market again, with the most traded iron ore futures contract on the Dalian Mercantile Exchange (DCE) for delivery in January 2022 ending a five-session rally on Friday, falling 6.7% in yuan. 41 /dmt ($ 6.4 /dmt) from Thursday's... 29.11.2021  12:12

• Beijing Turns to Private Industries to Help Reform Metallurgy A senior official from China's Ministry of Industry and Information Technology (MIIT) said at a recent event hosted by the China Chamber of Commerce and Industry (CCCME) that China's private steel producers are "playing an increasingly important role" in the development of the steel industry. This... 29.11.2021  12:08

• Germany and the Netherlands receive significant quotas on steel exports to the United States Germany and the Netherlands gained the rights to substantial quotas for US steel exports on January 1, 2022, after the US ended its current Section 232 import tariff regime on EU steel in a bilateral deal, according to documents posted on the website. United States Department of Commerce website.... 29.11.2021  12:05