Metallurgy news
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EUROFER supports extension of steel import guaranteesIn order to maintain the stability of the EU steel market and at the same time ensure an uninterrupted supply, the European Steel Producers Association (EUROFER) has decided to support the further implementation of steel safeguards. In addition, the quota has been increased from 3% to 4%, resulting…
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Currency depreciation and high energy costs hit demand for long products in TurkeyThe depreciation of the Turkish lira against the US dollar hit demand in the domestic long products market in Turkey, while the supply of Turkish rebar plants in the export market came under pressure due to falling prices for scrap metal, S&P Global Commodity Insights reported on June 10 sources in…
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Green steel production requires hydrogen price below $2/kgThe price of renewable hydrogen needs to fall below $2/kg to make green steel cost-competitive with conventional products, global steelmaker ArcelorMittal says. “Calculations show that the price has to fall below $2/kg, closer to $1/kg, to compete with current steel production prices,” said Irina…
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Posco halts part of production due to ongoing trucker strikeSouth Korea's largest steelmaker Posco halted work on some production lines at its plant in Pohang in North Gyeongsang province on Monday due to an ongoing strike by unionized truck drivers. As of 7:00 am local time, the company suspended production at all four wire rod plants and one of its two…
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Production of steel pipes in Ukraine has decreasedAccording to the Ukrainian pipe industry association Ukrtruboprom, steel pipe producers in the country reduced production from January to May to about 176,000 tons, down 16% from last year. In May alone, Ukrainian producers of steel pipes increased their output by 2.5 times compared to the previous…
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UNESID: Spain's steel production has increasedAccording to the statistics of the Spanish Association of Steel Producers (UNESID), steel production in Spain in March this year amounted to 1 million tons, up 3.2% compared to the previous month and down 23% compared to the same period last year. In total, Spain produced 2.98 million tons of steel…
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Slab prices are down, they may have bottomed outWorld trade prices for slabs continue to decline in line with the overall global downward trend as it breaks down into a two-tier pricing system. Since Iran and Russia are in the lower price segment and somewhat limited in terms of sales geography, prices for their slabs are currently about…
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TCUD: Turkish steel production up in AprilAccording to the Turkish Iron and Steel Producers Association (TCUD), Turkey's steel production in April this year stood at 3.4 million tons, up 1.6% from the same month last year. Crude steel production from January to April was 12.8 million tons, down 3.2% year on year. In April, steel exports…
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ArcelorMittal announces investment to increase plant capacity in BrazilArcelorMittal, the world's second largest steelmaker, announced last Wednesday a new investment of 144 million reais in its plant in Sabara, located in the Brazilian province of Minas Gerais. Thanks to these investments, the capacity of the plant will increase by 35%. Jefferson De Paula, president…
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Tangshan Billet Manufacturers Finally Get StartedThe price of a 150mm square Q235 billet in Tangshan, the largest steelmaking center in northern China's Hebei province, rose from a four-month low last week to CNY 4,500/t ($671.2/t) on EXW terms, including VAT 13 %. as of June 2, an increase of 50 yuan per ton or 1.1% compared with May 27…
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