Metallurgy news
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China exports slabs to EuropeLike other Asian manufacturers, Chinese suppliers are rushing to export to the European market because it is profitable. “Now anyone who can sell steel to Europe will rush to do so,” says a trader from Jakarta. Last week, a Chinese plant sold a 40,000-ton shipment of labs to Europe at $855/ton FOB…
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Worldsteel: Global production of crude steel fell in JulyAccording to statistics from the World Steel Association (worldsteel), global production of crude steel in July this year amounted to 149.3 million tons, a decrease of 6.5% compared to the same month last year. Among them, Asian crude steel production reached 110.1 million tons, down 5.2% year on…
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German company Salzgitter hopes to get exemption from possible natural gas distribution measuresAs Gazprom cut natural gas supplies to Europe, major German steelmaker Salzgitter is in talks with the regulator, hoping to get exemptions from possible natural gas distribution measures. In July, Gazprom announced that due to force majeure, natural gas exported by the company to Europe via Nord…
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Tokyo Steel cuts September sheet and rebar prices by $36-58/tTokyo Steel Manufacturing, Japan's leading electric furnace steelmaker, has decided to lower list prices for coils, plates, square tubes and rebars by 5,000-8,000 yen/t ($36-58/t) for domestic sales in September to bring reported prices closer to actual market prices, the company said on Aug. 22…
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Russian export prices for hot-rolled steel remain unchangedThe Russian export market for hot rolled coil remains subdued due to weak demand from major importing regions, with offers hovering at $540-560/t FOB Black Sea over the past two weeks. Demand from Russia's main importing regions of hot-rolled steel, namely Egypt and Turkey, is extremely low due to…
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Hyundai Steel raises purchase prices for Japanese scrap metalThe Korean steelmaker placed orders for Japanese H2 scrap on August 18 at 42,500 yen/t ($315/t) fob. The plant previously offered H2 scrap at 40,500 yen per tonne on July 21st. The steel mill also offered H1/H2 scrap at 43,000 yen per ton and crushed scrap at 47,000 yen per ton. Offer prices for HS…
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Gas rationing could affect steel demand more than supplyPotential gas rationing in Germany could threaten steel demand more than supply. German steelmaker ThyssenKrupp's main plant in Duisburg is somewhat self-sufficient in terms of gas supplies, though the company says "a minimum level of supply is necessary to sustain our production operations" and…
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South Korean Dongkuk cut losses by selling business in ChinaSouth Korean plate and bar maker Dongkuk Steel Mill has finally avoided years of losses at its coated sheet subsidiary in east China's Jiangsu province by selling 90% of its stake in Dongkuk Steel China (DKSC) to the local government of Jiangyin for Won. 97 billion ($73.6 million), the company…
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US decides to impose duties on steel nails from 4 countriesThe U.S. Department of Commerce (USDOC) announced a positive final decision on countervailing duty (CVD) measures on steel nails originating in India, Oman, Sri Lanka and Turkey, and a negative final decision on a CVD order for the same products from Thailand. The subsidy rate for India has been…
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LME Bans Placement of Russian Nickel in UK WarehousesThe London Metal Exchange this week banned the placement of Russian nickel in warehouses in the UK, unless the warehouse management proves that the metal was taken out of Russia before July 20. The move follows a decision in April to ban the placement of other Russian metals, including copper…
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