Metallurgy news
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Western sanctions negatively affect the Russian steel industryDue to economic sanctions from Western countries, Russian metallurgical plants suffered losses both in sales to the domestic market and for export. All major Russian steel producers lost money in June. To cut losses, steel mills are actively reducing production and are also considering cutting back…
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Steel production in China continued to decline in mid-JulyChina's pig iron and crude steel production is likely to fall further in mid- to late July as more steel mills were forced to cut production due to mounting losses. The reduction in steel production is expected to support domestic steel prices, which have fallen sharply since May due to weak demand…
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Steel demand in Latin America may fall in 2022An industry report revealed that Latin America's steel industry is currently facing regional inflation, political instability, as well as rising prices caused by the war between Russia and Ukraine, and these factors could lead to a slight decrease (about 2%, according to Alacero) in demand for…
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Russian hot-rolled steel suddenly appeared on the Indian marketIn the past few months, Russian hot-rolled coil has suddenly appeared on the Indian market. Some sources say that since June, Indian buyers have purchased about 150,000 tons of hot-rolled coil from major Russian steel suppliers such as Severstal and NLMK. Such delivery was mainly associated with…
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Vietnamese HRC market falls to 2020 lowAn alarming downturn in the Chinese steel market on Friday sent Vietnamese hot rolled coil to a new low. At the end of last week, Vietnam's hot-rolled steel import market fell by about 10%. Short-selling traders are offering Chinese-made 3-12mm HRC for as little as $560/tonne in Vietnam, Vietnam…
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Eurofer urged to change plans to introduce hydrogen market in EUThe European Steel Association Eurofer on July 15 called on the European Commission to develop a practical framework and timetable for a phased transition to the hydrogen market in the European Union, including extending the proposed transition period for its introduction until at least 2030…
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Steel production in China fell in June due to bad weatherChina's crude steel output fell 3.3% in June from a year earlier, according to the Bureau of Statistics, as bad weather in recent weeks affected construction activity. The world's largest steelmaker produced 90.73 million tons of the metal last month, according to data from the National Bureau of…
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World steel prices fall for the eighth time in a rowSteel prices have fallen for the eighth consecutive time since mid-May, with an overall decline of nearly 13 percent. Largest steelmaker Hoa Phat Group slashed prices for rolled steel and rebar for the eighth time over the weekend, cutting prices by VND2.4 million ($102.61) since mid-May. Other…
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Steel production in Russia fell significantly in JuneThe Russian Steel Association said that since the beginning of this year, the price of steel has decreased by 35%, while the cost of production has increased by 50%. In June, steel production in Russia fell by 20-50% year on year. Russia's iron and steel executives The Magnitogorsk Iron and Steel…
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U.S. inflation hits 40-year high in JuneUS consumer prices accelerated 9.1% y/y in June, a four-decade high that surpassed most analysts' forecasts and supports the US Federal Reserve's current policy of sharply raising interest rates. The consumer price index (CPI) in June rose to the highest since November 1981, exceeding the annual…
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