Metallurgy news

• China will invest in the metallurgy of Southeast Asia In 2023, China will seek to control the growth of steel production and replace old equipment with more environmentally friendly equipment through capacity replacement. But, on the other hand, it will invest more manufacturing capacity in the ASEAN countries so that its colossal steel industry can... 06.01.2023  11:33

• Taiwan imposes a ban on the export of stainless steel plate to Russia and Belarus According to the announcement of the Ministry of Economy of Taiwan on January 4, 2023, in order to prevent Taiwan from exporting high-tech goods to Russia and Belarus for the production of military weapons, the volume of restricted exports to these two countries has been expanded, adding categories... 05.01.2023  10:35

• Chinese steel mills cut production due to poor forecasts Reduced domestic and overseas orders are forcing many metal fabrication factories in China's southern province of Guangdong to close weeks earlier than usual, while some are also cutting production plans for next year, manufacturers said. Extended shutdowns in the world's largest consumer of... 05.01.2023  10:29

• Posco implements new projects in Malaysia South Korean steelmaker Posco Group is implementing a carbon capture and storage (CCS) project in Sarawak, Malaysia. Posco Holdings, Posco International, Posco E&C and Malaysian oil and gas company Petros signed a memorandum of understanding (MoU) on the CCS project on December 12, 2022. “In a... 05.01.2023  10:27

• Scrap metal suppliers expect higher prices in Turkey Post-holiday target prices for scrap metal suppliers are even higher, although there is little supply in the Turkish scrap market due to the ongoing holidays in some supplier countries. The latest booking was confirmed from the EU at an average price of $402 per ton for 30,000 tons HMS 1&2... 04.01.2023  12:17

• Accident at a nickel plant in Indonesia could lead to a rise in nickel prices again There has been market news that a major nickel mine in Indonesia has suffered an accident at work, leading to protest by a large number of employees, which could affect operations. The incident could again lead to a sharp increase in high world prices for nickel. It became known that a few days... 03.01.2023  11:55

• Tata Steel: Britain will need 10 million tons of steel Tata Steel UK has indicated that the UK will need more than 10 million tons of steel in the coming years to provide itself with more energy. Among them, the construction of thousands of wind turbines by 2030 will require more than 5 million tons of steel. In addition, by 2050, solar projects and... 03.01.2023  11:54

• South Korean steel industry suffers huge losses due to truckers' strike When the Longshoremen Solidarity Union (CTSU) called off the strike, South Korea's logistical difficulties were finally resolved. However, the strike has already resulted in the suspension of the transportation of 920,000 tons of goods, which also meant that the local steel industry suffered a huge... 03.01.2023  11:52

• Turkish Yıldız Demir Çelik invests in new smelter and rolling mill The Turkish Ministry of Environment and Urbanization has announced that the Environmental Impact Review and Assessment (EIA) process has begun for a project proposed by Turkish steelmaker Yıldız Demir Çelik Sanayi A.Ş. build a new smelter and rolling mill in Kartepe, Kocaeli province. The pro... 31.12.2022  14:27

• Russia and India plan to abandon the use of dollars and euros in bilateral trade Russia and India planned to abandon the use of dollars and euros in bilateral settlements and conduct all trade transactions in rupees and rubles. Zamir Kabulov, head of India at Russia's foreign ministry, said that while it was a decision in principle for both sides, the trade imbalance needed to... 31.12.2022  14:16