Metallurgy news

• India lifts export duties on steel products and iron ore The Indian government's move to remove export duties on steel could allow plants to increase capacity utilization, although exports and prices will be driven by demand. Tariffs pushed India's finished steel exports down in October to a more than three-year low of 360,000 tonnes, also down 66%... 21.11.2022  11:11

• ArcelorMittal Brazil chief says capital spending is slowing down due to lower steel demand ArcelorMittal SA's Luxembourg-headquartered Brazil head MT.LU said on Thursday that he expects capital expenditures to fall as demand for steel falls. “The world will be consuming less steel, so we can delay some investment a bit,” Jefferson de Paula said. "For example, if we're going to buy s... 21.11.2022  11:08

• RUSAL sales bounce back after LME decides not to ban Russian metals RUSAL, Russia's leading global aluminum supplier, said its 2023 sales rebounded after the London Metal Exchange (LME) decided not to impose a ban on the trading and storage of Russian metals in its system. It was understood that RUSAL had already sold more than 76% of its primary aluminum and... 21.11.2022  11:04

• MMK's environmental projects were highly appreciated This year, MMK launched a new aspiration system with a cleaning efficiency of more than 99%. His significant contribution to environmental protection was jointly praised by the Ministry of Natural Resources and Ecology of the Russian Federation, the Ministry of Energy of the Russian Federation and... 21.11.2022  11:01

• Iron ore price rises as Chinese demand hopes persist Iron ore prices continued to rally as traders clung to hopes that recent policy moves in China will spur demand. Overall, sentiment remained bullish despite October data showing new home prices fell at the fastest pace since 2015. Futures for steel and other metallurgical resources in China also... 18.11.2022  12:00

• Andrew Forrest donates $500 million to the Ukraine Reconstruction Fund Australian iron ore magnate Andrew Forrest announced on Thursday a $500 million commitment to set up a $25 billion international investment fund to help Ukraine recover. According to a press release from the Forrest Tattarang family office, the Green Growth Initiative in Ukraine will focus on... 18.11.2022  11:56

• Outokumpu reaches agreement to sell Argentine subsidiary Mirgor Outokumpu, Europe's leading stainless steel producer based in Finland, has announced an agreement with Mirgor, an Argentinean consumer electronics and auto parts manufacturer, on terms for the sale of a 100% stake in its Argentinean subsidiary, Outokumpu Fortinox. SA Fortinox will continue as... 17.11.2022  12:46

• Steel production in China in January-October decreased by 2.2% year on year According to the latest data released by the country's National Bureau of Statistics (NBS) on 15 November. In October alone, China produced 79.76 million tons of crude steel, up 11% from last year. And the country's daily steel output averaged 2.57 million tons per day, down 11.2% from the... 16.11.2022  12:49

• POSCO Stainless Steel Hot Rolling Mill Resumes Operations POSCO's hot rolling mill resumed operations in October, but its annealing and pickling lines at its stainless steel plants were not up and running at the same time. POSCO Annealing Line No. 2 was expected to resume operation in December. Therefore, POSCO Zhangjiagang is currently processing AP... 16.11.2022  12:46

• Suppliers dramatically increase Chinese HRC supply to Vietnam On Friday, the offer prices for Chinese HRC rose in the Vietnamese hot-rolled steel market. It is also seen that suppliers are leaving the market. Sentiment in China's domestic steel market recovered strongly amid some easing of Covid restrictions and a rally in U.S. stocks. Offers for 3-12mm... 14.11.2022  09:39