Metallurgy news
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After 2050, steel will be mainly produced from ore due to scarcity of scrap metalMost steel will continue to be produced from primary raw materials, including iron ore and metallurgical coal, after 2050 due to limited reserves of ferrous scrap, according to information provided on July 28 by the Net-Zero Steel Pathway Methodology Project, or NZSPMP, an industry group ... “We…
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Russian steel producers aim to reduce the impact of EU carbon taxThe Russian Steel Association says that the Carbon Borders Regulation Mechanism (CBAM), which the EU plans to implement in 2026, is fraught with significant risks to the global economy and the steel industry, in particular, notes Kallanish. “The inclusion of the steel sector in the scope of EU…
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China's steel industry after typhoon In-FaHenan is still experiencing catastrophic flooding, and Typhoon Ying Fa has hit many regions in China, including Shaoxing, Zhoushan, Hangzhou, Ningbo, Shanghai and Suzhou. The metallurgical industry, as well as a number of other industries across the country, were hit by the typhoon. The slow nature…
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Global steel production exceeded 1 billion tonnes in the first half of the yearAccording to Worldsteel (WSA), in June 2021, the total steel production in the countries of the world amounted to 167.9 million tons, which is 11.6% more than in June last year. Metallurgical production continues to demonstrate high growth rates since the beginning of the year. In total, in the…
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Severstal delivers large diameter pipes to Brazil for the first timePJSC Severstal, one of the world's largest vertically integrated steel and mining companies, has delivered large diameter pipes (LDP) to Brazil for the first time. Also, for the first time, large-diameter pipes will be used for an LNG project being implemented abroad. The pipes will be used for the…
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Steel prices in the USA continue to riseThe US Hot Rolled Coil (HRC) price continued to rise due to insufficient supply and is currently at a new high. Thus, the HRC price also exceeded the market price for finished steel products after processing, especially for API pipes. API Taiwan pipe mills noted current export price is lower than…
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Hot rolled steel production in China declines in JuneChina's hot rolled coil (HRC) production in June was about 16.19 million tonnes, down 1.4% from the previous month and up 12.8% from the same month last year, according to statistics. ... The decrease compared to the previous month is due to a slowdown in seasonal demand and production restrictions…
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IMF: COVID-19 Creates Highest GDP Deficit Since World War IIAccording to the International Monetary Fund (IMF), countries need to consider implementing "difficult reforms" in commodity, labor and financial markets to close the $ 15 trillion (63.6 trillion ringgit) global production gap caused by the Covid-19 crisis. , “The same funds that are being invested…
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Export tariffs for Russian steel affect pricesTo curb inflation and lower steel prices, the Russian government decided to impose export duties on steel at a rate of 15% or a minimum of USD 115 per tonne on exported steel products from August 1 to December 31. Russia expected a reduction in export volumes and an increase in domestic sales due…
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Heavy rain in Texas delays the launch of the Synton plantPlanned ramp-up at Steel Dynamics Inc (SDI) plant in Sinton, TX is $ 1.9 billion. Flat products have been postponed due to severe flooding in the state SDI detailed the delay in its second quarter income statement. “Due to heavy torrential rains in Texas, actual steel production will be delayed and…
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