Metallurgy news
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Options for resolving the US trade conflict with the EUAccording to market news, the US was considering resolving the conflict with the EU over the steel trade by introducing a quota system. The trade conflict between the US and the EU has been going on for about three years. However, some market participants believed that the conflict could be…
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Tax payments of ArcelorMittal Kryvyi Rih for 8 months of 2021 more than doubled compared to the same period last yearKryvyi Rih, September 8, 2021 In January-August 2021, ArcelorMittal Kryvyi Rih transferred almost 9.3 billion UAH taxes and fees to the budgets of all levels, more than 2 times the total amount tax payments for the same period last year. This amount can be compared with the total payment of…
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Guinea coup complicates iron ore miningGuinea's 110-kilometer Simandu Ridge contains one of the largest untapped iron ore deposits in the world, containing over 8.6 billion tonnes of ore with an average iron grade of 65%. A military junta seized control of the West African country of Guinea and detained President Alpha Conde, prompting…
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Steel sales in Vietnam are growing due to exportsAccording to the Vietnam Steel Association (VSA), steel mills have boosted exports after facing difficulties in domestic consumption due to the COVID-19 outbreak. The association said July steel production reached nearly 2.4 million tonnes, down 6.48 percent from the previous month, and steel…
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Hot rolled steel prices in Asia remain unchangedThe hot rolled steel market in Asia is still showing no signs of growth. While prices rose due to production cuts in four provinces of China: Guangdong, Guangxi, Sichuan and Shandong, uncertainty in China's steel export tariffs and lower demand due to the lockdown in Southeast Asia remained weak in…
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China's steel production could grow 4-7% this yearChina, the world's largest steel producer, could produce 4-7% more steel this year than last year without meeting its pollution control targets. The Chinese government recently said it will limit steel production this year to 2020 levels to cut CO2 emissions. However, a report produced by climate…
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"New Factory": business invests in the development of Ukrainian educationKryvyi Rih, May 21, 2021 Yesterday, May 20, Minister of Education and Science of Ukraine Serhiy Shkarlet, as well as rectors, professors, teachers of leading universities of Kryvyi Rih, visited ArcelorMittal Kryvyi Rih. Together with the company's management, they discussed the stages of…
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Steel mills cut production to keep prices downSteel mills in China, South Korea, India and Taiwan have spontaneously cut production for maintenance purposes. It remained unclear whether production cuts would stabilize prices. Due to the lockdown, demand for steel in Asia has dropped to a minimum, so prices are falling. Even the epidemic…
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German steel mills are optimistic about steel pricesGerman steelmakers are expecting a slight increase in steel prices in the coming weeks, while traders and end buyers expect a stable price environment amid fears over automotive demand and large volumes of imported material, according to a monthly survey of German sentiment. A poll conducted in…
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Growth in procurement of billets in China leads to higher pricesPrices for imported billets in East Asia are rising again amid China's return to the market. The growth was driven by an expected reduction in steel production in China and an increase in coking coal prices. Several deals for 150mm 3-sheet piles from ASEAN, including a deal from a blast furnace in…
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