Metallurgy news
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Scrap metal prices continue to rise in TurkeySince last week, all Turkish factories have continued to increase the purchase prices for scrap in the domestic market against the backdrop of a continuing increase in import prices. Mills' demand for domestic scrap remains strong, and they are also actively buying consumables such as ferroalloys…
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Korean shipbuilders demand 20% reduction in steel plate prices from steelmakersSouth Korea's shipbuilding industry is asking steelmakers to lower steel sheet prices as raw material prices declined this month. Steel sheets over 6 mm thick, which are used to make ship hulls, account for about 20 percent of shipbuilding costs. The country's three largest shipbuilders helped…
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USSK shuts down second blast furnaceUS Steel Kosice (USSK) closed its second blast furnace before early 2023 due to high energy costs and low demand. Two out of three DP firms are currently idle. On September 4, the company stopped blast furnace No. 2. It was originally intended to be a 60-day scheduled maintenance, but the plant is…
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POSCO Suspends Steel Sheet Supplies to TaiwanSouth Korean steelmaker POSCO still hasn't fully recovered from September's typhoon strike, adding that local demand remains weak and a truckers' strike has caused losses. For now, the company has decided to hold the steel plate offer for Taiwan's request. Market participants said that no bids had…
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EU and Japan vow to intensify hydrogen cooperationThe European Union and Japan have signed a memorandum of cooperation to stimulate innovation and development of the international hydrogen market. Calling the parties "leaders in hydrogen technology," the EU said they will work together to produce, trade, transport, store, distribute and use green…
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Liberty Steel plants in Liege are looking for a new ownerThe Liberty Steel Liege rolling mills in Belgium have been given the green light by a local court to look for a potential new owner. Liberty Steel Group confirms that the sale of assets is one of the possible options for their restructuring. The plants have been included in a restructuring program…
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US Steel and Cleveland-Cliffs raise flat steel pricesCleveland-Cliffs and US Steel announced a $60 per short ton increase in flat steel prices. The increase in prices is due to the fact that the volume of orders of these two steel mills reached saturation in December. They are preparing for a price hike next January, pushing the price hike forward to…
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Chinese HRC Deals Continue to Grow in VietnamIn the Vietnamese hot rolled coil market, prices for Chinese export offers continue to rise due to a strong recovery in China's domestic futures markets. However, the depressed Vietnamese market will continue to limit any strong uptrend in prices. Chinese offers for 3-12mm SS400 HRC for January…
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Russia will extend the quota for the export of scrap metalThe 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 2…
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Japanese factories benefit from typhoon in South KoreaJapanese 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…
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