Metallurgy news
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IMF: COVID-19 Creates Highest GDP Deficit Since World War IIAccording to the International Monetary Fund (IMF), countries need to consider implementing "difficult reforms" in commodity, labor and financial markets to close the $ 15 trillion (63.6 trillion ringgit) global production gap caused by the Covid-19 crisis. , “The same funds that are being invested…
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Export tariffs for Russian steel affect pricesTo curb inflation and lower steel prices, the Russian government decided to impose export duties on steel at a rate of 15% or a minimum of USD 115 per tonne on exported steel products from August 1 to December 31. Russia expected a reduction in export volumes and an increase in domestic sales due…
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Heavy rain in Texas delays the launch of the Synton plantPlanned ramp-up at Steel Dynamics Inc (SDI) plant in Sinton, TX is $ 1.9 billion. Flat products have been postponed due to severe flooding in the state SDI detailed the delay in its second quarter income statement. “Due to heavy torrential rains in Texas, actual steel production will be delayed and…
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Europe expects steel prices to decline as large exporters run out of quotasThe European steel market is grappling with cheaper Indian hot rolled coil flows, with the July-September quota balance of 169,717 tonnes already exhausted and material that was once in the port is now being distributed to buyers, according to data from the European Commission from July 13…
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Iron ore price rises due to disappointing performance of leading producersIron ore prices rose on Tuesday amid disappointing data from the world's largest producers. Vale produced 75.7 million tonnes in the second quarter, up from an average analyst estimate of 78 million tonnes. The company maintained its annual forecast of 315 million to 335 million tonnes and said it…
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Exports of scrap metal from Russia increased in MayAccording to Russian customs statistics, the export of scrap ferrous metals from Russia in May amounted to about 325,000 tons, an increase of 7.4% over the previous month and an increase of 4.3% over the same month last year. Exports grew for two months in a row. Strong demand and prices offset the…
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Blast furnaces utilization in China increased to 88.55%Blast furnace utilization rates among 247 steel mills in China, according to a regular survey by Mysteel, rose during the second week of July 9-15, increasing another 2.55 percentage points in a week to 88.55%, as some steel mills in Northern and East China increased. after steel profitability…
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EU steel market calculates flood damageToday, the hot rolled coil (HRC) market in northwest Europe is recovering from devastating flooding, especially in the Hagen region in western Germany. Hagen in North Rhine-Westphalia has been badly damaged and is home to some of Germany's largest cold-rolling road rollers as well as other service…
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EVRAZ North America builds a plant in PueblaEVRAZ North America announced the start of construction of a new railway products plant in Pueblo. The $ 500 million investment project is expected to be completed in late 2022 or early 2023. The proposed facility is a state-of-the-art railway production facility, the construction of which is…
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Vietnamese Formosa postpones increase in prices for rolled metal productsAs the price of steel in China has recently risen, the Chinese company Baosteel announced that its hot rolled coil (HRC) price will remain unchanged for August. According to the previous chart, Vietnamese Formosa Ha Tinh Steel Corporation (FHS) will announce the price for September yesterday (July…
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