Metallurgy news
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Beijing announces additional measures to stabilize the economyAccording to a government statement released late Wednesday, the Chinese State Council's cabinet meeting on Wednesday announced a series of new measures aimed at stabilizing the economy, including stimulating consumption, supporting foreign trade and reducing the reserve ratio of commercial banks…
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Japanese steelmakers raise pricesJapan's biggest steel producers are raising prices for the metal used in everything from cars to skyscrapers and are warning there's more to come. According to a company spokesman, the steel division of JFE Holdings Inc. will raise prices for all products by 20,000 yen ($160) per tonne from April…
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The World Steel Association expects a slight increase in steel demand this yearThe World Steel Association (worldsteel) today released its short-term outlook (SRO) for 2022 and 2023. Worldsteel forecasts steel demand to grow by 0.4% in 2022 to reach 1,840.2 Mt after a 2.7% increase in 2021. In 2023, steel demand will rise to see a further increase of 2.2% to 1,881.4 Mt. The…
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Baosteel keeps May prices unchangedBaosteel, a major steel mill in China, has announced that prices for May will remain unchanged. Under the influence of the Russian-Ukrainian war, prices for raw materials remained at a high level. Due to the current epidemic in China, restrictions are in place in many cities, and the price of steel…
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POSCO to cut production of hot rolled steelSouth Korean steelmaker POSCO has scheduled maintenance plans for its hot rolling mills in Pohang and Gwangyang, and the planned work will be carried out from mid-April to early May, which will result in production losses for POSCO and reduce the supply of hot rolling. - market of rolled steel. The…
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Steel demand in India will grow by 7-8% in the 23rd fiscalRevenues for the domestic steel industry for the next 12 months ending FY23 are expected to remain strong despite pressure on production costs, resulting in some slowdown in earnings compared to the FY2022 top. With rising steel prices partially offsetting rising coal and energy prices, ICRA…
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Steel exports from China fell by 34% in MarchChina shipped 4.95 million tons of finished steel overseas in March, down 34.4% from last year, although the year-on-year drop was due to a high base in March last year, according to the latest statistics from China's General Administration of Customs. published April 13th. In fact, last month's…
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India expects increase in coking coal production after agreement with AustraliaIndian steelmakers are expecting uninterrupted coke supplies from Australia amid the recently signed Economic Cooperation and Trade Agreement (ECTA) between India and Australia. The agreement will eliminate the current 2.5% tariff on most coal imports, including coking coal, Callanish said. ECTA…
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Biden signed into law a suspension of normal trade relations with RussiaU.S. President Joe Biden signed into law late on April 8 a law suspending normal trade relations with Russia, a move that would raise tariffs at varying rates on U.S. steel products and other imports from Russia. Earlier, Congress passed legislation revoking Russia's trade status on April 7 after a…
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Steel and scrap prices in Asia remain high in the second quarterPrices for hot-rolled coil, rebar and ferrous scrap in Asia are likely to remain high in the second quarter after a sharp increase in the first quarter, as supply chains gradually recover and markets continue to factor in the impact of the Russian invasion of Ukraine. Suppliers in India, Japan and…
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