Metallurgy news
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US lifts Trump-era steel and aluminum tariffs for UKThe US said on Tuesday it had reached an agreement with the UK to lift tariffs on steel and aluminum imports imposed by former President Donald Trump in 2018. According to Commerce Secretary Gina Raimondo, the US can close the gap between supply and demand for these goods. goods to the US by…
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Worldsteel: Global production of crude steel fell in FebruaryAccording to the latest statistics released by the World Steel Association (worldsteel), crude steel production in the 64 countries included in worldsteel's statistics stood at 142.7 million tonnes in February this year, down 5.7% from the same month. last year. Of these, production in Africa…
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Prices for stainless steel sheet in Europe are risingInfluenced by fluctuations in nickel prices on the London Metal Exchange (LME), stainless steel transaction prices in Europe rose last week. After the first trading day on the LME on March 16, nickel prices fell for three consecutive days. However, European steel mills did not offer their new…
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ArcelorMittal invests in new electrical steel plant in FranceSteel giant ArcelorMittal has announced an investment of more than 300 million euros to build a new electrical steel plant in Mardik, northern France, which is expected to create more than 100 direct jobs. This new plant will specialize in the production of electrical steel for engines used in…
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Ukrainian Metinvest reduces part of its capacityUkrainian steelmaker Metinvest will reduce capacity utilization by up to 30% at its DMK long products mill and iron ore mine in Kryvbas in Kamianske, central Ukraine. Metinvest said that the factories will stop production as the military conflict in the region intensifies. In order to protect…
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The market expects sharp fluctuations in steel pricesThe Russo-Ukrainian war has led European and American countries, as well as Japan, to impose economic sanctions against Russia, which could cause tension in the global supply chain of raw materials and lead to higher steel prices in the future. According to statistics, in 2021 Russia produced 76…
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Ukrainian metallurgical plants announced the shutdown of production linesAccording to the report, the Ukrainian group Metinvest explained that the operation will be suspended after the current iron and steel is used up, in order to protect the safety of employees and equipment, they expected the suspension for a week and the situation will determine the operation…
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Ukraine in the world ranking of metallurgical production in January 2022According to Worldsteel, in January 2022, metallurgical enterprises of the countries of the world produced 115.56 million tons of pig iron, of which 107.01 million tons were smelted by the blast-furnace method and 8.55 million tons by the direct renewal method. The current figures are 6.41% below…
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CSC Steel's FY21 profit more than doubledTaiwanese steel maker CSC Steel Holdings Bhd more than doubled net income to RM86.09 million for the fiscal year ended December 31, 2021 (FY 2021) from RM37.0 million in the prior year, driven by improved product margins due to upward trend in selling prices. The coiled steel maker said that…
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Nickel prices on the LME continue to rise on fears of a Russian-Ukrainian crisisThe price of nickel on the London Metal Exchange (LME) rose for six trading days in a row. The price hit an 11-year high yesterday (February 21) closing at $24,400/t. The spot price also rose by $262/t to $24,871/t. The price of nickel as a whole rose $1,093 last week, up 4.7%, a three-week…
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