Metallurgy news
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Steel production in China in January-October decreased by 2.2% year on yearAccording to the latest data released by the country's National Bureau of Statistics (NBS) on 15 November. In October alone, China produced 79.76 million tons of crude steel, up 11% from last year. And the country's daily steel output averaged 2.57 million tons per day, down 11.2% from the previous…
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POSCO Stainless Steel Hot Rolling Mill Resumes OperationsPOSCO's hot rolling mill resumed operations in October, but its annealing and pickling lines at its stainless steel plants were not up and running at the same time. POSCO Annealing Line No. 2 was expected to resume operation in December. Therefore, POSCO Zhangjiagang is currently processing AP hot…
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Suppliers dramatically increase Chinese HRC supply to VietnamOn Friday, the offer prices for Chinese HRC rose in the Vietnamese hot-rolled steel market. It is also seen that suppliers are leaving the market. Sentiment in China's domestic steel market recovered strongly amid some easing of Covid restrictions and a rally in U.S. stocks. Offers for 3-12mm thick…
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Indonesia plans to introduce an export duty on nickel pig ironThe Indonesian government planned to adopt a nickel export tax policy in the third quarter of this year, but it has yet to be implemented. However, the news surfaced again last week. According to the agreement, the introduction of taxes on nickel pig iron (NPI) and ferronickel is a matter of time…
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Chinese group CAYI opens a subsidiary in SingaporeChinese group CAYI opens a subsidiary in Singapore CAYI Group, one of China's stainless steel thermoses and related products, plans to set up a subsidiary in Singapore. This new company will be called Cayi Holding Private Limited (Cayi). This Singapore subsidiary will be used as a holding platform…
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Vietnamese company Ha Tinh Steel cut production by 15%Due to sluggish demand in Vietnam's domestic market and multiple sources of imports from China and South Korea, many Vietnamese steel mills have stopped or reduced production. Vietnam's Formosa Ha Tinh Steel Corporation (FHS) was also hit by oversupply and tried to boost exports. However, demand…
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Strike continues at Hyundai Steel plantsSouth Korean steel maker Hyundai Steel is considering exporting semi-finished products as strikes by workers at its factories in Dangjin and Pohang continue. Local industry reports show that Hyundai Steel is pushing ahead with a plan to export semi-finished products such as boards produced at the…
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Baosteel maintains steel prices in DecemberThe Chinese company Baoshan Iron & Steel (Baosteel) has announced new prices for December. Prices for key products, such as hot-rolled and cold-rolled steel, remained at the same level. In line with the price adjustment, the base prices for plate, hot-rolled steel, cold-rolled steel, pickled steel…
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Goa has 260 million tons of iron ore reservesAccording to figures released by the Government Accounting Standards Advisory Board (GASAB), only 260 million tons of iron ore reserves remain in Goa, the Indian state on the southwest coast. The Goan government has launched an electronic auction for the sale of four iron ore blocks in the state…
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US to phase out a quarter of coal-fired power plants by 2029The U.S. Energy Information Administration (EIA) has indicated that by the end of 2029, almost a quarter of U.S. coal-fired power generation capacity will be phased out as natural gas power generation and sustainable energy grow. Of the 200,568 megawatts (MW) of coal-fired power plants currently in…
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