Metallurgy news
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Steel demand in India will grow by 7-8% in the 23rd fiscalRevenues for the domestic steel industry for the next 12 months ending FY23 are expected to remain strong despite pressure on production costs, resulting in some slowdown in earnings compared to the FY2022 top. With rising steel prices partially offsetting rising coal and energy prices, ICRA…
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Steel exports from China fell by 34% in MarchChina shipped 4.95 million tons of finished steel overseas in March, down 34.4% from last year, although the year-on-year drop was due to a high base in March last year, according to the latest statistics from China's General Administration of Customs. published April 13th. In fact, last month's…
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India expects increase in coking coal production after agreement with AustraliaIndian steelmakers are expecting uninterrupted coke supplies from Australia amid the recently signed Economic Cooperation and Trade Agreement (ECTA) between India and Australia. The agreement will eliminate the current 2.5% tariff on most coal imports, including coking coal, Callanish said. ECTA…
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Biden signed into law a suspension of normal trade relations with RussiaU.S. President Joe Biden signed into law late on April 8 a law suspending normal trade relations with Russia, a move that would raise tariffs at varying rates on U.S. steel products and other imports from Russia. Earlier, Congress passed legislation revoking Russia's trade status on April 7 after a…
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Steel and scrap prices in Asia remain high in the second quarterPrices for hot-rolled coil, rebar and ferrous scrap in Asia are likely to remain high in the second quarter after a sharp increase in the first quarter, as supply chains gradually recover and markets continue to factor in the impact of the Russian invasion of Ukraine. Suppliers in India, Japan and…
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The impact of the ban on Russian coal imports on the steel industry in the EU and the UKThe European Union formally adopted its fifth round of sanctions against Russia on Friday, including a ban on coal imports. Existing contracts must be terminated by the second week of August, which means that until then Russia may continue to receive payments from the EU for coal exports. This week…
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Nippon Steel Blast Furnace No. 1 shut downNippon Steel Corporation, Japan's largest steelmaker, said a furnace water leak could make it difficult to restart production or cut production by about one million tons of steel a year. In response, China Steel Corporation (CSC), Taiwan's largest carbon steel producer, said it has received the…
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Most Ukrainian metallurgists resume production despite hostilitiesThe Ukrainian pipe plant Interpipe is the last company to resume production at its facilities in Dnipro, Nikopol and Novomoskovsk. “First of all, finishing workshops will be launched to refine pipe semi-finished products, railway wheels and wheel sets,” the company said in a statement. "The bulk of…
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Daily steel production in China rose at the end of MarchIndustrial data showed that at the end of March, China's main steel mills had an average daily steel production of about 2.16 million tons. According to the China Iron and Steel Industry Association, the daily output increased by 5.41 percent compared to mid-March. The data showed that at the end…
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Slab deliveries to Turkey soared, all from RussiaTurkey's slab imports picked up again in February after rising in January, reflecting Turkish flats producers returning to restock after a large order of about 200,000 tonnes of Russian slabs was ordered last October. Turkish producers returned to restocking around December when slab prices…
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