Metallurgy news
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Iron ore price rises amid rising steel futuresIron ore prices have risen again since the beginning of the week following a rise in steel prices. The most traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fell in the morning but rose 0.5% in the afternoon before closing, compared to Monday's close at 1,225 yuan…
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Major steel mills in North China resume at 70% utilizationFurnaces at all major steel mills in Tangshan, Hebei province in northern China, the world's # 1 steelmaking city that produced about 14 percent of China's crude steel in 2020, are on fire again, an industry report said Monday. However, due to the country's continued drive to reduce carbon…
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SAIL Starts Closing Commodities Division Amid ProtestsThe state-owned steel company Steel Authority of India Limited (SAIL) is reportedly implementing its decision to dissolve the raw materials division to disband the raw materials division of Kolkata, despite vigorous protests from the state administration. The company has already filed transfer…
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Stainless steel production in Russia fell in January-May y /yAccording to statistics from the Federal State Statistics Service (Rosstat), stainless steel production in Russia in the first five months of this year was about 83,000 tonnes, down 4.5% over the same period last year. In May alone, stainless steel production in Russia totaled 17,000 tonnes, up…
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US will not waive section 232 tariffsThe US government continued to levy duties on steel and aluminum imports based on Section 232. The American Iron and Steel Institute (AISI) explained that the US and EU are positively seeking a solution to reduce global tensions. They predicted that effective solutions would be found before the end…
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South Korean mills are paying for high-quality scrapSouth Korean mills still pay a much higher premium for high quality Japanese scrap. A leading South Korean mill recently ordered Shindachi scrap at ¥ 66,500 per tonne ($ 598), while a Korean EPP refinery booked H2 scrap at ¥ 48,000 per tonne ($ 431), Korean trade sources said. ... Japanese trade…
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Brazil breaks records for export of iron oreExports of Brazilian iron ore in June reached 33.68 million tons. This is the maximum this year. Brazil last exported iron ore in September last year. Experts attribute such high export volumes to the actions of Brazilian producers, including Weil, who, seeing high prices for iron ore, decided to…
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NLMK begins construction of a steel plant in IndiaNLMK Group announced the start of steel construction for a new grain-oriented steel plant in the state of Maharashtra in India. Construction was planned for the equipment installation at the end of 2021 and was to be commissioned in the first half of 2022. NLMK has announced that it will complete…
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Emission quotas prices in the EU are approaching 100 eurosThe European Commission estimates that by the end of the decade, emission prices could rise to 85 euros. According to many experts, this is a very conservative estimate. In their opinion, the cost of emission allowances will exceed 100 euros. And much faster…. The European Commission will present…
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Export duties from China and Russia stimulate the rise in prices for stainless steelAfter Taiwan's steel mills raised prices, market prices for stainless steel rose correspondingly. Market participants noted that this was mainly due to an increase in export duties from China and Russia. China has previously canceled the export duty exemption. While no date has yet been set for the…
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