Metallurgy news
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Russian hot-rolled steel suddenly appeared on the Indian marketIn the past few months, Russian hot-rolled coil has suddenly appeared on the Indian market. Some sources say that since June, Indian buyers have purchased about 150,000 tons of hot-rolled coil from major Russian steel suppliers such as Severstal and NLMK. Such delivery was mainly associated with…
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Vietnamese HRC market falls to 2020 lowAn alarming downturn in the Chinese steel market on Friday sent Vietnamese hot rolled coil to a new low. At the end of last week, Vietnam's hot-rolled steel import market fell by about 10%. Short-selling traders are offering Chinese-made 3-12mm HRC for as little as $560/tonne in Vietnam, Vietnam…
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Eurofer urged to change plans to introduce hydrogen market in EUThe European Steel Association Eurofer on July 15 called on the European Commission to develop a practical framework and timetable for a phased transition to the hydrogen market in the European Union, including extending the proposed transition period for its introduction until at least 2030…
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Steel production in China fell in June due to bad weatherChina's crude steel output fell 3.3% in June from a year earlier, according to the Bureau of Statistics, as bad weather in recent weeks affected construction activity. The world's largest steelmaker produced 90.73 million tons of the metal last month, according to data from the National Bureau of…
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World steel prices fall for the eighth time in a rowSteel prices have fallen for the eighth consecutive time since mid-May, with an overall decline of nearly 13 percent. Largest steelmaker Hoa Phat Group slashed prices for rolled steel and rebar for the eighth time over the weekend, cutting prices by VND2.4 million ($102.61) since mid-May. Other…
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Steel production in Russia fell significantly in JuneThe Russian Steel Association said that since the beginning of this year, the price of steel has decreased by 35%, while the cost of production has increased by 50%. In June, steel production in Russia fell by 20-50% year on year. Russia's iron and steel executives The Magnitogorsk Iron and Steel…
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U.S. inflation hits 40-year high in JuneUS consumer prices accelerated 9.1% y/y in June, a four-decade high that surpassed most analysts' forecasts and supports the US Federal Reserve's current policy of sharply raising interest rates. The consumer price index (CPI) in June rose to the highest since November 1981, exceeding the annual…
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Italian company Arvedi reaches zero CO2 target for steel productionAcciaieria Arvedi, an Italian flat steel manufacturer, has become the first steel mill to be certified net carbon zero. The Net Zero CO2 Emission Certificate has been approved by a third party, Rina. He evaluated all direct and indirect manufacturing processes. Arvedi started investing in plant…
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India allows international trade settlements in rupeesThe Reserve Bank of India (RBI) has allowed international trade settlements between India and other countries from July 11, including transactions with Russia and Sri Lanka, in rupees. The move is aimed at facilitating steel and coking coal deals between India and Russia, Callanish sources say…
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Brazil iron ore exports up in JuneBrazilian iron ore exports totaled about 32.1 million tons in June, up 26.4% from the previous month and down 4.3% year on year, according to the Brazilian Ministry of Economy. Among them, exports to China accounted for 69.8% of Brazil's total iron ore exports, from 22.41 million tons, up 42% from…
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