Metallurgy news
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The price of iron ore falls due to limited tradingThe price of iron ore fell on Wednesday amid limited trading activity due to the absence of Chinese market participants. “Because Chinese participants were absent from May 1-4 for the Labor Day holiday, trading activity was very limited this week, further dampening demand,” Fastmarkets said in a…
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US begins review of Section 301 tariffs on imports from ChinaThe US has begun reviewing Section 301 tariffs imposed on Chinese products before they expire on July 6 and August 23. Some politicians have called for lower tariffs to ease consumer pressure to raise prices. On May 3, the Office of the United States Trade Representative (USTR) said it would review…
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Global steel production continues to decline in MarchThe first quarter of 2022 has been a difficult one for global steel production. Production was 456.6 million tonnes, down 6.8% from the same period in 2021, according to the latest figures from the World Steel Association. The two most important factors behind this decline were a new surge in…
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TMK plans to launch pipelines for transporting hydrogenRussian steel pipe manufacturer TMK has announced that the company plans to bring hydrogen transport pipes to market in the second half of this year. Currently, tests of pipes for transporting hydrogen are being completed. As part of the forthcoming transition to low-carbon technologies, TMK will…
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UK introduces zero duties on all Ukrainian goodsThe UK has announced that it will decide to give Ukrainian goods preferential treatment with zero tariffs and remove restrictions on Ukrainian import quotas to help Ukraine rebuild its economy. In addition, the UK also announced on April 25 that it will ban the export to Russia of equipment and…
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Sanctions did not affect the production of Norilsk Nickel in Russia in the first quarterRussia's Norilsk Nickel reported about 51,500 tons of nickel production in the first quarter of 2022, up 10% from last year. The resolution of groundwater inflow problems at the Oktyabrsky and Taymyrsky mines in Russia in 2021 explained the increase in nickel production. The company said it will…
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China exacerbates US inflation with tariffs on steel and other goodsSupply chain restrictions, trillions in government spending and unusually high consumer demand have helped lift U.S. inflation to its highest level in 40 years, but geopolitical factors are also fueling rapid price increases. A new analysis published by the Peterson Institute for International…
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The ban on imports of Russian coal negatively affects the EU steel industryThe bulk of Russian exports are thermal coal used in power plants, but Russia also supplies metallurgical coal used in steelmaking blast furnaces. The impact on the hard coal market is expected to be less than on thermal coal, Morgan Stanley said in a note. Last year, Russia shipped 32 million tons…
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Turkish Tosyali Holding exports steel pipes to AngolaAccording to the announcement, Turkish steel pipe manufacturer Tosyali Holding will supply 15,000 tons of corrosion-resistant steel pipes for two major port projects in Angola. Tosyali Holding was responsible for the largest steel pipe project from Algeria to Angola under the Japanese contracting…
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China to cut coal import tariffs to zero from May 2020China's State Council Commission on Customs Tariffs said China will cut import tariffs on all types of coal to zero from May 1, 2022 to March 31, 2023 in an effort to secure energy supplies and reduce import costs due to concerns about rising global prices and supply disruption. Import tariffs on…
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