Metallurgy news
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Chinese firm is investigating the case of missing Russian copperA Chinese state-owned firm whose shipment of copper from Russia went missing said it was investigating the case, which has a monetary value of about 110 million yuan ($15 million). Wuchan Zhongda Group Co. bought 2,000 tons of refined copper from a Russian company that was supposed to be delivered…
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EU to protect auto sector with tariffs on Chinese electric carsThe European Commission's introduction of import tariffs of up to 48.1% on Chinese-made electric vehicles (EVs) could help protect long-term steel demand from the EU auto sector. Tariffs of between 17.4% and 38.1% will be levied on vehicles depending on their manufacturers' level of cooperation…
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Ukraine's production growth highlights supply sensitivityMEPS respondents in Poland are increasingly concerned about the potential consequences of oversupply as steel mills in Ukraine increase production. Some believe that the risks faced by cargo ships leaving Ukrainian ports due to the ongoing conflict with Russia increase Poland's vulnerability to…
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EU electric vehicle market plays central role in automotive steel consumptionEuropean sales of Chinese-made cars grew by 45% in 2023, accounting for 4% of the market. The European Commission believes that the market share of Chinese cars could rise to 15% by 2025. In 2020, China exported about a million cars. This year, about six million cars are expected to be exported to…
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Falling prices in Europe reduce demand for green steelEuropean steel buyers' interest in green steel has waned following a price reversal driven by end-users needing to cut costs amid weak demand. Investment in green steel production is increasing as the European Commission approaches its goal of making the steel industry a net-zero carbon emitter by…
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EU raises import duties on stainless steelThe European Commission's application of countervailing and anti-dumping duties on imports of cold-rolled stainless steel from Taiwan and Vietnam will result in rates of almost 40% in some cases. Earlier this week, MEPS reported the findings of the Anti-Fraud Commission's investigation into imports…
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Indian metallurgy may face obstacles in raw material supplyThe expansion of India's steel production capacity comes at an opportune time for the industry, as the country has been undertaking large-scale infrastructure projects such as national highways in the last few years. Now that the country is in the midst of a general election and if the incumbent…
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US stainless steel prices continue to riseOutokumpu's US unit in Calvert tried to raise its base price this month However, this proved largely unsuccessful and prices eventually rose in line with published alloy premiums. The value of 304 and 316 flat-rolled deals will rise minimally in May, but are likely to jump in June following the…
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EU steel industry faces supply and demand challengesBalancing supply and demand will continue to be a challenge for Europe's steel industry, despite forecasts that 2024 could mark the start of change. According to Worldsteel's latest short-term forecast report, demand will increase by 2.9% this year. Worldsteel's forecast indicates that this will be…
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EU steel demand to recover in 2025 - WorldsteelThe 7 countries of the European Union plus the United Kingdom will have to wait until 2025 for steel demand to recover properly. The World Steel Association forecasts that EU steel demand will increase only modestly this year in the form of a "technical recovery", with a larger rise of 5.3% in…
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