Metallurgy news
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China's iron ore reserves fall due to demandIron ore concentrate inventories among China's 186 mining companies, according to a Mysteel study, fell further from May 21 to June 3, by 189,400 tonnes, or 13.4%, to 1.2 million tonnes, a new low since the study began in January. 2019, as the growth as noted by market sources, the demand for these…
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ArcelorMittal Canada announces preliminary deal with United SteelworkersArcelorMittal Canada, the Canadian subsidiary of the Luxembourg-based integrated steel company ArcelorMittal, has announced a preliminary agreement with striking United Steelworkers in the Quebec region. The deal is on the terms of a potential new collective bargaining agreement. However, the terms…
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More and more coal from Russian mines will go to Asian marketsRussia will invest $ 20 billion in the coal industry. A significant increase in coal production is expected in Russia. In this context, the country looks primarily at Asian countries. Due to the expected growing absorption of these markets, Russian companies intend to significantly increase…
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Stainless steel on its way to a production recordStainless steel production has been set to a record this year. After last year's fall, it is expected to surpass 8 percent this year, higher to reach 55 million tonnes. Several steel mills, which closed during the peak of the pandemic, have resumed operations. However, according to market monitor…
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The EAEU considers a complete ban on the export of ferrous scrapThe Eurasian Economic Union (EAEU) has published a draft board decision on the inclusion of ferrous scrap in the list of goods for which there is a ban on export outside the member states - Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. On June 15, the EEC will hold a board meeting, which…
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Nippon Steel May Beat Earnings ForecastNippon Steel, the world's third-largest steel producer, could surpass its own profit forecast for the year until March 31, 2022, as its exports and overseas businesses benefit from strong demand and high steel prices. “The demand for steel overseas is quite high,” Executive Vice President Takahiro…
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EU remains uncertain on the steel marketAccording to steelmakers, an expected one-year extension of the safeguarding steel market will extend the business's uncertainty, because in the case of long-term orders, it is not known what the conditions will be. in the middle of next year. The European Union will extend the warranty by one…
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Liberty Steel bought Huta CzęstochowaOn Friday, an agreement was signed for the purchase of Huta Częstochowa by Liberty. Thus, the company's troubles and the threat of layoffs must end. The economic situation on the market is favorable for the launch of the plant. An agreement was signed, and most importantly, the entire amount of the…
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Steel Ingredients in China Rise SignificantlySteel prices on China's Dalian Commodity Exchange jumped on Wednesday to catch up with the strong trend in the spot market. The most traded iron ore futures on the Dalian Stock Exchange for September delivery rose 4.8% to 1,192 yuan ($ 186.80) a tonne during the morning session. As of 02:50 GMT…
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Russia is discussing the purchase of metals for state reservesAccording to Reuters, the Russian Industry Ministry has held preliminary talks with metal producers to purchase their products for government stocks, the ministry said in a statement on Tuesday. Moscow is closely monitoring the rise in raw material prices in the construction sector as part of…
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