Metallurgy news
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The market expects sharp fluctuations in steel pricesThe Russo-Ukrainian war has led European and American countries, as well as Japan, to impose economic sanctions against Russia, which could cause tension in the global supply chain of raw materials and lead to higher steel prices in the future. According to statistics, in 2021 Russia produced 76…
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Ukrainian metallurgical plants announced the shutdown of production linesAccording to the report, the Ukrainian group Metinvest explained that the operation will be suspended after the current iron and steel is used up, in order to protect the safety of employees and equipment, they expected the suspension for a week and the situation will determine the operation…
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Ukraine in the world ranking of metallurgical production in January 2022According to Worldsteel, in January 2022, metallurgical enterprises of the countries of the world produced 115.56 million tons of pig iron, of which 107.01 million tons were smelted by the blast-furnace method and 8.55 million tons by the direct renewal method. The current figures are 6.41% below…
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CSC Steel's FY21 profit more than doubledTaiwanese steel maker CSC Steel Holdings Bhd more than doubled net income to RM86.09 million for the fiscal year ended December 31, 2021 (FY 2021) from RM37.0 million in the prior year, driven by improved product margins due to upward trend in selling prices. The coiled steel maker said that…
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Nickel prices on the LME continue to rise on fears of a Russian-Ukrainian crisisThe price of nickel on the London Metal Exchange (LME) rose for six trading days in a row. The price hit an 11-year high yesterday (February 21) closing at $24,400/t. The spot price also rose by $262/t to $24,871/t. The price of nickel as a whole rose $1,093 last week, up 4.7%, a three-week…
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US postpones dumping investigations into OCTG from Russia, Argentina and MexicoThe US Department of Commerce (USDOC) has postponed a preliminary ruling on an investigation into the unfair value of oil field pipes (OCTG) from Argentina, Mexico and Russia. Applicants including Borusan Mannesmann Pipe US, Inc., PTC Liberty Tubulars LLC, US Steel Tubular Products, Inc., United…
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Taiwan and Ukraine become the largest HRC suppliers in the EU in November-December 2021According to statistics, in December last year, Taiwan became the largest supplier of hot-rolled coil (HRC) in the EU. During the reporting period, Taiwan exported about 56,000 tons of hot-rolled coil to the EU, accounting for nearly 20% of the total EU hot-rolled steel exports in December. Taiwan…
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Chinese steelmakers expect poor results in Q4 2021Coal shortages and tighter environmental controls have driven up production costs and indebted property. China Steel Corp, the country's largest steelmaker, said yesterday it would raise steel prices by an average of 2.44% for next month's shipments as local consumers accelerate stockpiling amid…
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Russian-Ukrainian crisis will affect the import of finished steel to PakistanTensions between Russia and Ukraine could lead to higher prices for imported finished steel in Pakistan, some sources in the Asian country fear. The crisis is likely to cause a rise in prices for steel raw materials and finished products, energy carriers and semiconductor chips. “In the short term…
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US stainless steel prices rise on shortage riskAccording to the US market, the price of stainless steel in the US consistently showed strong performance last week. Based on some market sentiment, the current supply of nickel and scrap has been limited, which has been the main reason for the long-term high prices for stainless steel in the US…
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