Metallurgy news
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Vietnam's leading steel mills continue to cut productionCurrently, the export market is dodging and the construction industry continues to fall, which could lead to further cuts in production at Vietnam's large steel mills. Following the closure of four Hoa Phat blast furnaces, Vietnam's other leading steel mill, Formosa Ha Tinh Steel (FHS), plans to…
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Crude steel production in Europe fell in OctoberAccording to statistics from the European Steel Association (EUROFER), in October crude steel production in Europe increased by 5.5% compared to the previous month, but fell by 17% compared to the same period last year and amounted to about 15.03 million tons. In the first ten months, crude steel…
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Quotes of Turkish rebar grow against the backdrop of the high cost of scrap metalTurkish mills raised their long steel quotes due to scrap prices rising last week. On Thursday, mills' export offers were mostly $630-645 per ton FOB Turkey compared to $615-630 per ton a week earlier. Offers for wire rod, meanwhile, were at $640-660/t FOB. Turkish mills are seeing a slight uptick…
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European hot-rolled coil prices continue to declinePrices for hot rolled coil in Western Europe have continued to decline over the past four weeks. Further cuts are expected in late November and early December. Prices in Germany are especially weak. On the contrary, in France and the UK they are kept at a slightly higher level. Most factories are…
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Steel production in Japan fell in October due to lower demand for steelAccording to the Japan Iron and Steel Federation (JISF), steel production in Japan in October this year was about 7.35 million tons, down 10.6% from last year due to a slowdown in demand for used steel. Of these, 5.3 million tons were produced by blast furnaces, which is 11.8% less than last year…
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Orders for new vessels in China from January to October fell by 39%In January-October, China maintained its leading position in the global shipbuilding industry, although orders for new vessels in the country decreased by 39.2% compared to last year and reached 37.4 million deadweight tons (DWT), according to new data released by the China Shipbuilding…
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China's iron ore price index fell on November 22China Iron Ore Price Index (CIOPI) stood at 351.23 on November 22, down 1.75% or 6.25 points from the previous CIOPI on November 21, according to the China Iron and Steel Industry Association (CISA). . the ore price index was 358.66 points, up 0.21% or 0.76 points from the previous day; the price…
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Alcoa supports RUSAL's proposal to disclose information about the origin of metal reserves at the LMEAlcoa Corp., a leading U.S. aluminum producer, said it backs a proposal by Russian aluminum giant RUSAL last week that the London Metal Exchange (LME) provide market participants with monthly reports on the provenance of all of the world's registered stocks of aluminum and other metals on…
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Worldsteel: global crude steel production remains stableAccording to statistics from the World Steel Association (worldsteel), global production of crude steel in October this year amounted to 147.3 million tons, unchanged from last year. Among them, Asian crude steel production reached 107.3 million tons, an increase of 5.8% year on year, of which…
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US rules on AD measures on OCTG from 4 countriesThe US Department of Commerce (USDOC) and US International Trade Administration (USITC) have introduced anti-dumping duties (AD) on oil country tubular goods (OCTG) from Argentina, Mexico, South Korea and Russia. In addition, due to a mistake by the minister, USDOC revised duties on Russia. The…
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