Metallurgy news
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China's manufacturing PMI fell to 49 in JulyIn July, the China Purchasing Managers Index (PMI) for the country's manufacturing retreated from a two-month rise of 1.2 percentage points from the previous month to 49, or fell again after breaking the 50 threshold in June. New issue of China National Bureau of Statistics (NBS). July's PMI was…
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International steel market may fluctuate low in AugustIn July, the global economic recovery continued to slow down. While demand for steel in the international market remains weak, overseas plants tend to reduce production. The low volume of steel production in Ukraine and Russia was caused by many factors, such as unresolved problems in logistics, as…
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China: steel industry enters a new phase of evolutionWith mounting downward pressure, China's steel industry must accelerate its pursuit of innovative, high-quality development to control output, reduce inventories and increase the value-added of steel products, government officials and industry experts said on Friday. They also said the industry is…
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Chinese steel mills cut productionMarket prices for steel continue to fall, and recently 23 Chinese steel mills were closed for maintenance. Market participants said that cutting production is the only way to address the current situation in the steel industry, as well as reduce selling pressure and inventories, and this decision…
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UK cancels tariffs on Brazilian rolled metalThe UK government decided to lift tariffs on steel plate and cold-rolled steel imports from Brazil on July 22, four days after the US lifted a 46% duty (a 35% anti-dumping duty and an 11% countervailing duty) on Brazilian cold steel. - rolled steel. The US and UK have adjusted protective tax…
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Steel sales in Germany declinedIn June, steel sales in Germany amounted to almost 809,000 tons, down 8% m/m and 15% y/y. In addition, sales in June were 11% lower compared to the average sales from January to May. In June, flat steel sales in Germany amounted to 481,000 tonnes, down 6% on the previous month and down 9.6% on the…
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Steel production at Russian NLMK declined in 1H and 2QIn the first six months of this year, steel production at the Novolipetsk Iron and Steel Works (NLMK) amounted to about 8.9 million tons, down 1% year on year. Steel sales amounted to 8.57 million tons, an increase of 4% compared to the same period last year. The increase in sales is due to the…
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EU members agree to cut natural gas consumption by 15%The European Commission on July 20 proposed to propose to members of the Union to reduce natural gas consumption by 15% from August 1, 2022 to March 31, 2023, in order to cope with the shortage of natural gas and reduce dependence on Russia in the energy sector. . However, this proposal was opposed…
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Ruslom opposes the extension of export duties until the end of 2022Russian scrap metal association Ruslom says it resists extending scrap export quotas and export tariffs until the end of 2022 of the year . sharply reduced, which will lead to huge losses for exporters. Currently, the domestic scrap metal market in Russia has a surplus of at least 19 million tons…
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Export of wire rod from China increased in JuneAccording to the report, the General Administration of Customs of the People's Republic of China said that China's wire rod exports stood at about 445,000 tons in June, up 113% year on year and up 36% from the previous month. Among them, South Korea was still the main importer of wire rod from…
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