Metallurgy news
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UK hot rolled coil prices fall as mills sell at a lossDomestic UK hot rolled coil prices fell slightly in the week ending July 18 as some producers were forced to sell at a loss to stimulate demand. “The hot-rolled market has been completely destroyed,” said a source at the service center. “There is too much of it. Demand will remain the same as it is…
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German Chancellor plans lithium deal with Serbia following Rio Tinto decisionGerman Chancellor Olaf Scholz plans to visit Serbia this week to secure supplies of lithium, which is critical to the country's energy transition and its auto industry. Scholz is likely to arrive in Belgrade on Friday to sign the agreement with Serbian President Aleksandar Vucic and cabinet…
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Spain gives priority to Hydnum Steel projectSpain's Hydnum Steel (HS) has been declared a priority project by the regional government of Castile-La Mancha, the company's Callanish said. This guarantees investment preferential administrative treatment and expedited project implementation. HS plans to build the first green steel mill on the…
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Tata Steel workers in the UK go on strike for the first time in 40 yearsTata Steel workers in the UK are going on strike for the first time in more than 40 years after the Indian steelmaker rolled out cost-saving measures including massive job cuts. About 1,500 workers in Port Talbot and Llanwern, Wales, will go on an indefinite general strike over the company's plans…
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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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