Metallurgy news
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Worldsteel: global market recovery expected in second half of 2023More 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 is…
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China iron ore price index risesAccording 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 previous…
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Aperam raises surcharges on European stainless steel alloys for DecemberAperam, 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 from…
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Turkish company Tuğçelik Alüminyum invests in a new auto components plantTuğçelik 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…
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Vietnam's leading steel mills continue to cut productionCurrently, 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…
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Crude steel production in Europe fell in OctoberAccording 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 steel…
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Quotes of Turkish rebar grow against the backdrop of the high cost of scrap metalTurkish 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 uptick…
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European hot-rolled coil prices continue to declinePrices 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 are…
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Steel production in Japan fell in October due to lower demand for steelAccording to the Japan Iron and Steel Federation (JISF), steel production in Japan in October this year was about 7.35 million tons, down 10.6% from last year due to a slowdown in demand for used steel. Of these, 5.3 million tons were produced by blast furnaces, which is 11.8% less than last year…
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Orders for new vessels in China from January to October fell by 39%In January-October, China maintained its leading position in the global shipbuilding industry, although orders for new vessels in the country decreased by 39.2% compared to last year and reached 37.4 million deadweight tons (DWT), according to new data released by the China Shipbuilding…
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