Metallurgy news
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EU revises quotas on steel importsEU Trade Commissioner Phil Hogan said the coronavirus crisis could lead to huge stocks of steel that could then flood the European Union when demand returns, something that the bloc will seek to prevent. Hogan said that “the adjustment for this year will take place by July 1 as planned. We are…
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China's GDP contracted by almost 7% in the first quarter of 202 0China's economy contracted 6.8 percent year-on-year in the first quarter of 2020, after growing 6 percent in the last three months of 2019 and a 6.5 percent decline from market forecasts. This is the first decline in GDP since records began in 1992, reflecting the severe damage caused by the…
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Tokyo Steel will keep product prices in MayTokyo Steel Manufacturing Co Ltd, the largest electric arc furnace manufacturer in Japan, said on Monday that steel product prices will remain stable in May despite slowing demand from the auto and construction industries due to the coronavirus pandemic. The steelmaker cut all steel product prices…
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India: Covid-19 is about to destroy the profitability of the metals sectorCovid-19 casts a long shadow over the long-awaited recovery in fiscal 2021, which is why the Indian steel sector faces yet another period of uncertainty with falling demand and falling prices undermining its profitability. The steel sector has been performing fairly well over the past few months…
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NLMK Group resumes production in VeronaNLMK Group resumed production at the Italian plant in Verona. A company spokesman told Interfax: “NLMK Verona has resumed production along the entire chain: steel production, production of ingots and plates. The plant is currently operating under reduced load due to low market activity and…
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China buys time for steel imports amid global pandemic restrictionsChina has been in the rare position of an active steel buyer in the spot market since mid-March, when the country is experiencing its worst coronavirus outbreak, just as major buyers of its steel exports are facing what has become a global pandemic. In its cautious return to business as usual, the…
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Severstal announces 1Q2020 production resultsPJSC Severstal announces production results for the first quarter of 2020. Hot metal production increased 2% qoq in the first quarter of 2020 to 2.41 million tonnes, up from 2.36 million tonnes in the fourth quarter of 2019 following the completion of short-term maintenance work on blast furnaces…
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Exports of Chinese steel in March roseData from the General Administration of Customs showed that China's finished steel exports increased 2.35% year-on-year to 6.476 million tonnes in March 2020, the highest since July 2018 as Chinese steel mills stepped up efforts to boost exports in March and also in April to ease domestic supply…
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Most Italian steel companies are still out of businessItalian Prime Minister Giuseppe Conte recently announced that the restrictive measures in Italy will be extended until May 3, from an initial end date of April 13, as the country is still trying to completely contain the spread of the Covid-19 virus. Conte ordered the people to stay at home and get…
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COVID-19 will cut iron ore production in China by 3% in 2020Analyst firm GlobalData said iron ore production in China is forecast to decline 3% to 78.2 million tonnes in 2020 due to the impact of the coronavirus (Covid-19). Operating rates at private iron ore mines declined from 34.9% to 29.6% between January and February 2020, and overall production of…
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