Metallurgy news
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EU electricity prices generally rose in FebruaryWith the exception of Northern Europe and Germany, the average daily electricity price in most European markets exceeded 130 euros per MWh in February. Among them, Spain's electricity price rose the most, with its average wholesale electricity price doubling as wind and hydropower production…
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US continues to impose duties on fittings from three countriesIn accordance with the final outcome of the Fast Track Fourth Review of Anti-Dumping Orders on Duties on Stainless Steel Pipe Butt Joints, the U.S. Department of Commerce (USDOC) ruled that the repeal of existing AD duty orders on qualifying goods from Italy, Malaysia, and the Philippines is likely…
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Chinese policy has little effect on containment of iron ore pricesTo prevent illegal speculation in iron ore, China's National Development and Reform Commission issued documents aimed at strengthening supervision and curbing the unjustified rise in iron ore prices. However, with China weakening and fully open to the epidemic, this policy is ineffective, as…
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Steelmakers in Germany predict price hikes in MarchIn the German steel market, an increase in prices for steel products is predicted in March this year The March index of market sentiment amounted to 75 points, both on the part of distributors and manufacturers. The average for February was 54 points. This change indicates positive expectations for…
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Metinvest estimates damage from war at $3.5 billionMetinvest Group estimated the damage caused by damage and loss of control over some enterprises as a result of Russia's military actions against Ukraine at $3 billion 523 million. Such data is contained in a presentation for the JP Morgan Global Emerging Markets Corporate Conference. In particular…
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Bekaert sells its steel business in Chile and PeruBelgian multinational steelmaker Bekaert has announced the sale of its steel wire operations in Chile and Peru to its current partners. This transaction, worth approximately $350 million and netting the company $136 million, is expected to close this year. Bekaert currently owns 52% of the shares…
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Coal production in Russia decreased in JanuaryAccording to statistics, in January of this year, about 34.9 million tons of coal were mined in Russia, which is 19.3% less compared to the previous month and 1.4% compared to the same month last year. Among them, production in the Siberian Federal District accounted for the largest share at 77%…
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EU-Ukraine trade shows economic resilienceBetween March 2022 and December, Ukrainian exports to the EU even slightly exceeded pre-war levels. European imports from Ukraine remain slightly below pre-war levels, but have shown a sharp increase over the past year. Overall, the EU imported a smaller percentage of Ukrainian corn, rapeseed, iron…
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Demand for scrap metal in Turkey is decliningThe demand for scrap metal from Turkish factories has decreased this week. It can be seen that factories prefer to wait a while before placing orders for imported scrap for shipment in April. Although scrap metal suppliers have further increased their target prices this week, they do not see buying…
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Steel production in Japan falls for 13 consecutive monthsAccording to the Japan Iron and Steel Federation (JISF), Japan's crude steel production was about 7.2 million tons in January this year, up 4.6% from the previous month but down almost 7% from the same month. month of last year. Output has been falling year on year for 13 straight months. Market…
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