Metallurgy news
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India considers the possibility of reducing import duties on steel productsThe Indian government has proposed lowering import duties on steel products, considering lowering the duty rate to zero or near zero to curb price increases and reduce pressure on small and medium-sized enterprises (SMEs). In India's budget for 2021-22, Indian Finance Minister Nirmala Sitharaman…
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Expansion of protective measures could reduce steel supplies to EuropeThe Turkish Steel Exporters Association (CIB) has indicated that the EU should not extend the protection measures for steel imports. Otherwise, it would lead to a reduction in supply and an increase in prices. The CIB indicated that Trump's Section 232 tariffs caused a sharp rise in domestic steel…
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Global steel consumption will grow by 4.5-5.5% in 2021ArcelorMittal, the world's largest steel company, predicts global steel consumption will grow 4.5-5.5% in 2021, or 8.5-9.5%, excluding China. “The quarterly results reflect a very positive market environment. Demand is back higher than we expected, with high supply chain inventories following…
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ArcelorMittal acquires Dortmunder Blankstahl to expand business in GermanyArcelorMittal, one of the world's leading steel producers, has attempted to expand its business in Germany by purchasing Dortmunder Blankstahl, one of the local producers of steel bars in Germany, according to a statement from ArcelorMittal. ArcelorMittal Germany was the second largest steel…
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Russia thinks about limiting steel pricesThe Russian government is considering measures to curb the rise in steel prices. After receiving numerous complaints from end users, the Russian government began to take notice of the sudden rise in steel prices, Kitco News reports. According to the Ministry of Industry and Trade, prices for some…
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The situation on the steel market is out of controlThe jump in steel prices makes it difficult to plan and evaluate investments. The construction industry is experiencing rising costs at many levels. The work that we started before the outbreak. to make a profit, is now losing money. Steel prices are destroying the market. Along with steel prices…
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Iron ore prices will remain highSteel material hit new all-time highs this week, surging above $ 220 a tonne amid a burgeoning commodity boom. While the demand for steel and its production is growing, many analysts argue that market fundamentals alone do not justify such high prices. This will not stop further growth, according…
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Kobe Steel plans to cut CO2 emissions by 30-40% by 2030Kobe Steel Ltd (5406.T), the third largest steel producer in Japan, is aiming to reduce production CO2 emissions by 30-40% from 2013 levels by 2030 in line with the global decarbonization drive, the report said. The 2030 target does not include power generation, but the company aims to achieve…
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Unmanned cargo transportation on the territory of MMKPJSC "Magnitogorsk Iron and Steel Works", the transport company "Traft" and the company "Evocargo" have agreed on the pilot operation of unmanned trucks EVO-1 on the territory of the combine. They plan to start testing drones at MMK in May-June this year. The test launch of the EVO-1 unmanned…
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In China, steel exports grew by 24.5%, imports - by 16.9%China exported 25.7 million tonnes of finished steel in January-April 2021, up 24.5% over last year, while imports totaled 4.9 million tonnes over the same period, up 16.9% more than last year, according to the latest statistics from the General Administration of Customs of China (GACC). May 7…
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