Metallurgy news
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UK government imposes new sanctions against RussiaAccording to the UK Department of International Trade, the UK has revised its sanctions rules against Russia. The amendments prohibit the import of oil and products of its processing, coal and products of its processing, as well as gold from Russia. The UK will also prohibit the provision of…
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Steel trade in China to decline in coming monthsChina's semi-finished steel exports fell 3.1% month-on-month to 278,000 tons in June, falling for the first time in three months, the country's customs data on July 21 showed. While June volume was still well above the 1,618 tons exported a year earlier, sluggish overseas demand led to a sharp drop…
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EU approves Germany's plans to develop energy-intensive industriesThe EU competition authority has approved a German project worth around 5 billion euros to develop energy-intensive industries, as the European economy has been hit hard by the Russian-Ukrainian war. The current geopolitical crisis and soaring energy prices continued to affect the development of…
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Japan crude steel production down in JuneJapan's crude steel production stood at 7.45 million tons in June this year, down 7.6% from the previous month and 8.1% from the same month last year, according to the Japan Iron and Steel Federation (JISF). of the year. Pig iron production for the reporting period amounted to 5.25 million tons…
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Export of welded steel pipes from Turkey increasedFrom January to May this year, Turkey exported 838,000 tons of welded steel pipes, up 120,000 tons from last year, according to the Turkish Statistical Institute (TUIK). Exports totaled US$950 million, up 60% year on year. Among them, exports to Romania were the largest at 110,000 tons, with a…
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Chinese steel mills actively cut productionChina's crude steel production fell 3.3% year on year in June, while steel production fell 2.3% year on year, according to statistics. In June, demand for the steel industry and automotive steel improved and infrastructure construction expanded, but construction machinery in real estate and home…
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Steel production in Germany fell in JuneAccording to statistics from the German Steel Federation (WV Stahl), crude steel production in Germany in June this year was about 3.2 million tons, down 7% compared to the same month last year. During this period, the production of hot-rolled steel in Germany decreased by 8% year-on-year and…
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Western sanctions negatively affect the Russian steel industryDue to economic sanctions from Western countries, Russian metallurgical plants suffered losses both in sales to the domestic market and for export. All major Russian steel producers lost money in June. To cut losses, steel mills are actively reducing production and are also considering cutting back…
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Steel production in China continued to decline in mid-JulyChina's pig iron and crude steel production is likely to fall further in mid- to late July as more steel mills were forced to cut production due to mounting losses. The reduction in steel production is expected to support domestic steel prices, which have fallen sharply since May due to weak demand…
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Steel demand in Latin America may fall in 2022An industry report revealed that Latin America's steel industry is currently facing regional inflation, political instability, as well as rising prices caused by the war between Russia and Ukraine, and these factors could lead to a slight decrease (about 2%, according to Alacero) in demand for…
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