Metallurgy news

• POSCO to cut production of hot rolled steel South Korean steelmaker POSCO has scheduled maintenance plans for its hot rolling mills in Pohang and Gwangyang, and the planned work will be carried out from mid-April to early May, which will result in production losses for POSCO and reduce the supply of hot rolling. - market of rolled... 14.04.2022  10:30

• Steel demand in India will grow by 7-8% in the 23rd fiscal Revenues 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... 14.04.2022  10:26

• Steel exports from China fell by 34% in March China 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... 14.04.2022  10:23

• India expects increase in coking coal production after agreement with Australia Indian 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... 13.04.2022  09:32

• Biden signed into law a suspension of normal trade relations with Russia U.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... 13.04.2022  09:29

• Steel and scrap prices in Asia remain high in the second quarter Prices 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... 13.04.2022  09:26

• The impact of the ban on Russian coal imports on the steel industry in the EU and the UK The 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... 12.04.2022  11:01

• Nippon Steel Blast Furnace No. 1 shut down Nippon 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... 12.04.2022  10:58

• Most Ukrainian metallurgists resume production despite hostilities The 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 ... 12.04.2022  10:55

• Daily steel production in China rose at the end of March Industrial 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... 11.04.2022  11:06