Metallurgy news
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Steel mills cut production to keep prices downSteel mills in China, South Korea, India and Taiwan have spontaneously cut production for maintenance purposes. It remained unclear whether production cuts would stabilize prices. Due to the lockdown, demand for steel in Asia has dropped to a minimum, so prices are falling. Even the epidemic…
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German steel mills are optimistic about steel pricesGerman steelmakers are expecting a slight increase in steel prices in the coming weeks, while traders and end buyers expect a stable price environment amid fears over automotive demand and large volumes of imported material, according to a monthly survey of German sentiment. A poll conducted in…
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Growth in procurement of billets in China leads to higher pricesPrices for imported billets in East Asia are rising again amid China's return to the market. The growth was driven by an expected reduction in steel production in China and an increase in coking coal prices. Several deals for 150mm 3-sheet piles from ASEAN, including a deal from a blast furnace in…
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New Steel Capacities Overview - August 2021Data on the latest investments in production and capacity of the main manufacturers, announced in the month of August. Europe Salzgitter plans to restart Blast Furnace C, the smallest of the furnaces in its Flachstahl plant, in November. The company announced this during the presentation of its…
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Steel production increased in UkraineAccording to the results of the work of metallurgical enterprises of Ukraine in July 2021, there is an increase in steel production by 7.1% compared to the same period in 2020 - up to 1.875 million tons, retaining the 14th place in the ranking of 64 countries - the main world producers of these…
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Russian duty on steel export will not be extended until 2022Since the imposition of a tax on steel exports led to a decrease in domestic steel prices, the competent Russian authority said that the tax increase would not be extended until 2022. Russia introduced a 15% duty on the export of ferrous and basic non-ferrous metals from August 1 to December 31…
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How technology worksAt the Ingulets mining and processing plant of Metinvest Group, a new route of the ore cyclic-flow technology (CCT) complex was put into operation. This is one of the largest mining projects in the company over the past decade. Metinvest invested about $ 50 million in the construction of the…
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Mineral extraction tax in Russia will be pegged to world pricesAfter Russia proposed to increase the mineral extraction tax (MET) next year, the Finance Ministry on August 30 proposed linking the mineral extraction tax to world metal prices, and the policy was expected to end in October. However, it has been difficult to formulate a tax rate that is compatible…
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Electrotechnical plants in Russia demand a reduction in export dutiesThe Russian Electrometallurgical Association has demanded that the government reduce export duties on semi-finished products and steel materials from scrap steel in order to restore the minimum profitability of electric furnaces. Starting from the beginning of August this year, Russian exports of…
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Steel demand in China will recover in SeptemberSteel demand in China is expected to rebound in September from the previous month, while supply will be slightly different from August, which may generally support domestic steel prices, leading to some recovery over the month, says Wang Jianhua. , chief analyst at Mysteel in his monthly survey…
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