Metallurgy news
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Iron ore prices rise in hopes of increasing steel productionIron ore continued to rally from an 18-month low on rates basis. A stronger-than-expected cut in steel production this year means that China's steel mills are poised to increase production next month. According to Fastmarkets MB, the 62% iron benchmark imported into North China changed hands at $…
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Beijing confident to stave off inflation in 2021China's raw material prices as a whole have so far been in control in 2021 compared to the surges in the world's major economies, and the country has the foundation, confidence and ability to keep domestic prices stable and prevent inflation in every possible way. Prices are rising, the country's…
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Ukraine in the world ranking of metallurgical production for 10 months of 2021Pig iron production According to Worldsteel, in January-October 2021, metallurgical enterprises of the countries of the world produced 1202.60 million tons of pig iron, of which 1115.67 million tons by the blast furnace method and 86.93 million tons by the direct renewal method. This is 2.51%…
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South Korea demands US abolition of steel tariffsSouth Korean Trade Minister Yeo Han Ku called for trade talks with the United States on steel tariffs at a press conference on Monday. This comes after the US and the EU reached a new tariff agreement on steel exports last month, and last week the US agreed to revise steel tariffs with Japan…
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China's daily steel production will continue to declineAccording to the Ministry of Industry and Information Technology (MIIT), China's average daily crude steel production in October 2021 hit a record low since 2018 amid the country's drive to reduce carbon emissions and accelerate the green transformation of the steel industry. Last month, China's…
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US Warns Lack of Transformer Steel Threatens National SecurityThe Bureau of Industry and Security of the US Department of Commerce said in a November 18 report that if AK Steel stops producing grain oriented electrical steel, or GOES, a key material used in transformer manufacturing, it could be viewed as a national security threat to its power grid. American…
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Prices for metal products in Europe are recoveringIn recent weeks, steel prices in Europe have recovered slightly, after which they continued to decline in October. Inflated energy prices have strengthened producers' resolve to stem the downward trend. The announcement of a new quota-based steel trade agreement between the EU and the US, although…
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Brazil caught up with the CIS on iron pricesThe merchant pig iron market was calm last week amid continuing reshuffle in fundamentals, but stronger sentiment last week pushed Brazilian suppliers to higher prices and higher US sales. Despite the fact that demand in the US remains sluggish, regular weekly sales continue to take place, which…
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AISI Welcomes U.S. Infrastructure BillThe American Iron and Steel Institute welcomed President Joe Biden's signing of the Infrastructure and Jobs Investment Act on November 15, as the law, which includes provisions for American purchases, is expected to support domestic demand for steel. The $ 1.2 trillion bipartisan package, signed by…
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Steel prices to decline ahead of recovery in 2Q 2022 - S&PPaul Bartholomew, senior editor at S&P Global Platts, predicts that steel prices will potentially decline before recovering in the second quarter of the next calendar year. He believes that the slowdown in steel production growth will affect iron ore prices in the first quarter. However, he hopes…
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