Metallurgy news

• Russia will extend the quota for the export of scrap metal The Russian government has made a proposal to keep the quota for the export of ferrous scrap for another six months, until June 30. Exports within the Eurasian Economic Union (EAEU) will remain quota-free, according to an official statement following the meeting of the working group on December... 05.12.2022  12:30

• Japanese factories benefit from typhoon in South Korea Japanese steel and special steel exports to South Korea rose 41.6% in October from September to 484,009 tons, according to new data from the Japan Iron and Steel Federation (JISF). The monthly jump compares to a tiny 1.1% year-on-year increase and coincides with the disruption to Korean steel... 04.12.2022  12:27

• Worldsteel: global market recovery expected in second half of 2023 More than 600 people gathered in Istanbul for the 17th New Horizons Steel Conference. According to the World Steel Association (worldsteel), the global market will recover in the second half of 2023. automotive sector and supply chain in China could positively impact the steel sector. The world... 04.12.2022  12:24

• China iron ore price index rises According to the China Iron and Steel Industry Association (CISA), the China Iron Ore Price Index (CIOPI) stood at 374.06 points on November 29, up 2.67% or 9.74 points from the previous CIOPI index from November 28 . the ore price index was 361.76 points, up 0.21% or 0.76 points from the... 30.11.2022  10:44

• Aperam raises surcharges on European stainless steel alloys for December Aperam, a stainless steel manufacturer based in Luxembourg, raised the alloy surcharge for most of its European austenitic stainless steel plates for December. The surcharge on 304 (1.4301) was raised to €2,680/t from €2,464/t in November; the price for 316 was increased to EUR 4,264 per ton fro... 30.11.2022  10:43

• Turkish company Tuğçelik Alüminyum invests in a new auto components plant Tuğçelik Alüminyum, a Turkish supplier of aluminum die casting parts, will produce parts for electric and hybrid vehicles at its new plant in Arslanbey, Kocaeli. The new plant was supposed to start production within a year. The company currently manufactures chassis and engine components for pa... 30.11.2022  10:37

• Vietnam's leading steel mills continue to cut production Currently, the export market is dodging and the construction industry continues to fall, which could lead to further cuts in production at Vietnam's large steel mills. Following the closure of four Hoa Phat blast furnaces, Vietnam's other leading steel mill, Formosa Ha Tinh Steel (FHS), plans to... 28.11.2022  11:11

• Crude steel production in Europe fell in October According to statistics from the European Steel Association (EUROFER), in October crude steel production in Europe increased by 5.5% compared to the previous month, but fell by 17% compared to the same period last year and amounted to about 15.03 million tons. In the first ten months, crude... 25.11.2022  11:52

• Quotes of Turkish rebar grow against the backdrop of the high cost of scrap metal Turkish mills raised their long steel quotes due to scrap prices rising last week. On Thursday, mills' export offers were mostly $630-645 per ton FOB Turkey compared to $615-630 per ton a week earlier. Offers for wire rod, meanwhile, were at $640-660/t FOB. Turkish mills are seeing a slight... 25.11.2022  11:45

• European hot-rolled coil prices continue to decline Prices for hot rolled coil in Western Europe have continued to decline over the past four weeks. Further cuts are expected in late November and early December. Prices in Germany are especially weak. On the contrary, in France and the UK they are kept at a slightly higher level. Most factories... 25.11.2022  11:43