Metallurgy news
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U.S. crude steel production up 47%Weekly U.S. crude steel production posted a notable 47.1% rise in the week ending May 15, 2021, compared to the same week in 2020, according to the American Iron and Steel Institute (AISI). Weekly US crude steel production was 1.799 million tonnes. The utilization rate of the production capacity of…
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World Steel Association issues CO2 directiveThe World Steel Association has published a public policy document on how the industry can reduce CO2 emissions. The eight-page report focuses on reducing emissions from iron and steel production. The association's report highlights three steps the industry can take to reduce emissions: improving…
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The rest of steel prices in China are declining, but prices remain highFitch Ratings expects steel price growth in China to slow in the coming weeks as summer approaches, as downstream demand tends to fall during the season due to sluggish construction activity. However, the combination of high iron ore prices and new environmental regulations restricting supply is…
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JSPL Records Highest Steel Output EverJindal Steel & Power Limited (JSPL) recorded the highest steel production in the fourth quarter of fiscal 21. The volume of production, including pig iron, amounted to 2.07 million tons, which is 35% more than in the previous year. JSPL Standalone reported a record EBITDA of Rs 4,884 crore. The…
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Rising raw material prices lead to higher prices for pig ironCommercial pig iron prices have risen over the past week, fueled by higher prices for iron ore, scrap and finished goods. While activity remains subdued, China's strong interest in imports inspires confidence in sellers to boost supply, while alerting some former fence-sitters to act. This led to…
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US and EU reach temporary tariff truce on metalsThe Biden administration is set to announce a truce in a dispute with the European Union over metals tariffs, freeing iconic products like American Bourbon whiskey from doubling EU tariffs next month, sources familiar with the matter said. The decision could be announced as early as Monday, people…
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Imports of stainless steel to Russia rose in MarchAccording to statistics published by the Association of Consumers and Suppliers of Special Steel and Alloys (Association Special Steel), the total volume of stainless steel imports to Russia in March 2021 amounted to 34,770 tons, which is 14.8% more than in the previous month. During the reporting…
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India considers the possibility of reducing import duties on steel productsThe Indian government has proposed lowering import duties on steel products, considering lowering the duty rate to zero or near zero to curb price increases and reduce pressure on small and medium-sized enterprises (SMEs). In India's budget for 2021-22, Indian Finance Minister Nirmala Sitharaman…
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Expansion of protective measures could reduce steel supplies to EuropeThe Turkish Steel Exporters Association (CIB) has indicated that the EU should not extend the protection measures for steel imports. Otherwise, it would lead to a reduction in supply and an increase in prices. The CIB indicated that Trump's Section 232 tariffs caused a sharp rise in domestic steel…
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Global steel consumption will grow by 4.5-5.5% in 2021ArcelorMittal, the world's largest steel company, predicts global steel consumption will grow 4.5-5.5% in 2021, or 8.5-9.5%, excluding China. “The quarterly results reflect a very positive market environment. Demand is back higher than we expected, with high supply chain inventories following…
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