Metallurgy news
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USA postpones preliminary decision on pipes from Russia, Ukraine and some other countriesThe US Department of Commerce (USDOC) has postponed an Anti-Dumping Preliminary Decision (AD) on imported seamless standard, line and pressure pipes made of carbon and alloy steel (SSLPP) from Russia, South Korea and Ukraine from the planned December 15. until February 3 at the request of the…
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ThyssenKrupp negotiates aid with the German governmentGerman steel company ThyssenKrupp is in talks with the German government for a relief package worth at least 5 billion euros for its troubled steel company, far exceeding the group's value in today's market to ensure its survival. The German government has announced its willingness to offer…
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Iron ore prices hit a seven-year highIn terms of key ingredients for steelmaking, such as iron ore and coking coal, this week has been the story of two different markets. The price of iron ore broke the $ 120 /t ($ 164.70 /t) barrier this week, the highest level since the beginning of 2014. This is due to a stronger steel market in…
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NLMK predicts 7% drop in steel demand in Russia in 2020Ilya Gushchin, vice president of sales for the largest steel producer in Russia, NLMK, said that global steel demand is expected to fall by 2% this year but increase by 4% in 2021. Steel demand in Russia is under pressure from the coronavirus pandemic to decline by 7% in 2020, but will rise by 5%…
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CIS billet prices rise thanks to new salesBillet prices in the Black Sea export market rose this week on the back of new sales at higher levels, leading to even higher supply. This comes as Turkish scrap is breaking the psychological barrier of $ 300 per ton this week. It followed a weekend rally in China's iron ore, which boosted steel…
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NSSC Raises Stainless Steel Sheet Prices For NovemberNippon Steel Stainless Steel Corporation (NSSC) announced that its contract price for cold rolled nickel and 300 series stainless steel sheets for sale in the domestic market in November will be increased by ¥ 5,000 per tonne. This was the fifth consecutive month that the quoted price has risen…
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US steel production dropped significantlyWeekly statistics released by the American Iron and Steel Institute (AISI) signify a marked decline in crude steel production in the very last week ending November 7, 2020. The weekly production of rough steel was 1.573 million tonnes at a capacity utilization rate of 71.1%. This compares to a…
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Steel exports from China rose again in October, imports fellIn October, China shipped 4.04 million tonnes of finished steel products overseas, up 5.5% from the second month, mainly to fulfill orders signed in August, while steel imports fell 33.2% in compared with the previous month to 1.93 million tons. Latest statistics from General Administration of…
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US dollar expected to be weak - positive trend in metals marketThe US dollar index fell to a two-month low last week, down almost 2% over the week amid expectations that the dollar will continue to weaken in the short term following Joe Biden's victory in the US presidential election. Market participants said the move contributed to the movement in non-ferrous…
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Will iron ore prices decline in Q4?China's iron ore market is in a downtrend after a grand third quarter, as iron ore stocks in ports returned to last November levels at around 128 million tonnes as of November 5, while SEADEX 62% Australian ore fell to $ 117 respectively. per tonne, while PORTDEX of the same class also fell to a…
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