Metallurgy news
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Protective measures extended to EU metallurgists for 3 yearsThe European Commission announced the extension of protective measures for 26 categories of rolled metal produced by foreign metallurgical enterprises and entering the EU. The measures in the form of tariff quotas will apply from July 1, 2021 to June 30, 2024. The size of quotas will increase by 3%…
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Trade tensions escalate due to scrap metal shortagesWith the rise in global electric arc furnace steel production globally, demand for scrap, especially from China, will continue to grow and could lead to its own trade disputes as countries seek to gain the upper hand in exports, according to industry executives. The EU announced the restriction of…
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India has extended duties on the import of hot-rolled steel from the Russian Federation and 5 other countriesThe Indian Ministry of Finance announced the extension of anti-dumping duties on certain types of hot-rolled steel produced by the metallurgical enterprises of Brazil, Indonesia, China, Korea, Russia and Japan until December 15, 2021 inclusive. Recall that a re-investigation in connection with the…
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US steel imports from Vietnam could almost doubleThe American Iron and Steel Institute (AISI) predicts a significant jump in the country's finished steel imports this year. The estimates provided by the association are based on import trends during the first five months of the current year. Throughout 2021, the country is likely to see an 18.5%…
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EU begins in-depth study of IAG's plans to buy Air EuropaThe European Commission said on Tuesday that it has launched an in-depth investigation into the planned purchase of International Airlines Group by Spain's Air Europa. The Commission, which oversees EU antitrust policy, said it fears the proposed deal would reduce competition on Spanish domestic…
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POSCO invests in a Chinese sheet steel millChinese steelmakers HBIS Group and South Korea's POSCO have agreed to invest $ 600 million in a joint venture to produce and sell automotive steel sheets in China, POSCO reported on Friday. In this way, POSCO aims to create a stable steel sheet supply chain for the automotive industry in China, the…
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US steel production fellAccording to statistics from the American Iron and Steel Institute (AISI), for the week ending June 26, crude steel production in the United States was about 1.84 million short tons, down 0.2% from the same period a week ago with an increase of 44. 3. % compared to the same period a year earlier…
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MMK and Paul Wurth signed a contract for the construction of a blast furnacePJSC Magnitogorsk Iron and Steel Works and Paul Wurth (a subsidiary of the SMS GmbH group of companies) signed a contract for the implementation of the investment project “Construction of a new blast furnace No. 11”. The project is designed for 3.5 years. The volume of investments of PJSC MMK will…
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Tokyo Steel revises its carbon planTokyo Steel said that as the world began to actively pursue a carbon neutral plan, the company decided to revise its Tokyo Steel EcoVision 2050. Tokyo Steel's original goal was to reduce CO2 emissions by 80% by 2050, which was announced in 2017. Now the firm has revised it to 100%. As a result, it…
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Exporters avoid Chinese tax dutiesSuppliers of rolled metal from China insist that buyers are contractually obligated to pay the full tax, which is collected before the shipment is shipped. But importers in ASEAN are resisting purchase contracts that include this clause. On June 24, a small batch of 3,000 tonnes of Chinese SS400…
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