Metallurgy news
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USA making a decision to import hot rolled flat products from South KoreaThe US Department of Commerce (USDOC) has tentatively set subsidy rates for two South Korean hot rolled flat steel companies as part of an administrative countervailing duty (CVD) review. The period for consideration of this case is from January 1, 2019 to December 31, 2019. An initial subsidy rate…
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Vale and Posco Explore Emission Reduction TechnologiesVale has signed a Memorandum of Understanding (MoU) with South Korean steel company Posco to jointly explore and develop technologies to reduce CO2 emissions in steelmaking. Potential solutions to reduce fossil fuel consumption include the production of Vale's high quality iron ore products such as…
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Steel prices in China in November will depend on raw material pricesIn November, China's steel prices will be more reflective of its own fundamentals and may stand a chance of recovering from declines for most of October due to thermal coal prices, Wang Jianhua, chief analyst at Mysteel, shared his monthly forecast. This month, the impact of coal-related raw…
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Ukrainian metallurgists urge Zelenskiy to protect their exports from 25% US dutyThe Association of Enterprises of the Mining and Metallurgical Complex appealed to the President of Ukraine Volodymyr Zelenskiy about the need to resume a dialogue with the US Government to abolish the 25% duty on the import of Ukrainian metal products to the American market. On October 31, 2021…
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Nippon Steel Improves Earnings Forecasts Again Due To Strong DemandJapan's largest steelmaker, Nippon Steel Corp 5401.T, boosted its annual net profit forecast by 41% on Tuesday as strong global demand boosted steel product prices and higher prices for iron ore and coking coal boosted prices. its reserves. This move follows an upward revision in August. Net income…
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ArcelorMittal prepares for layoffs at Bosnian factoriesArcelorMittal and other steel and metal producers in Bosnia have warned they will be forced to lay off workers and halt production in some factories due to rising electricity prices. According to Nikhil Meht, CEO of ArcelorMittal Zenica, input costs have risen significantly in recent years, mainly…
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UK and US seek solutions on steel and aluminum tariffsUK Foreign Trade Secretary Anne-Marie Trevelyan met several times with US Trade Representative Catherine Tai to find a solution on steel and aluminum tariffs between the two sides. In May of this year, the UK began to investigate whether continuing to apply US steel tariff retaliation is in the…
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Ukraine plans to increase export duty on steel scrapDue to the rapid rise in steel scrap prices in Turkey, scrap exports from Ukraine are also rapidly increasing. According to the Ukrainian Association of Secondary Metals (UAVtormet), the Ministry of Economy of Ukraine has made a proposal to increase the export duty on steel scrap to 200 euros per…
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CSC prepares an additional payment for steel exports according to EU rulesChina Steel Corp plans to introduce a moderate premium on steel exports in August next year ahead of new EU carbon regulations, the company said yesterday. The draft version of the EU's Carbon Borders Regulation Mechanism is due to be released in 2023 and implemented in 2026, affecting 248 items…
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Rising coking coal prices will reduce profitability of steel mills in the second half of the 22nd fiscal yearPrimary steel profit margins will decline by a third to 24-26% in the second half of this fiscal year compared to the first half, as raw material costs rise sharply due to more than doubling coking coal prices since July. However, for the full fiscal year, the operating margin will average 31-32%…
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