Metallurgy news
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US dollar expected to be weak - positive trend in metals marketThe US dollar index fell to a two-month low last week, down almost 2% over the week amid expectations that the dollar will continue to weaken in the short term following Joe Biden's victory in the US presidential election. Market participants said the move contributed to the movement in non-ferrous…
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Will iron ore prices decline in Q4?China's iron ore market is in a downtrend after a grand third quarter, as iron ore stocks in ports returned to last November levels at around 128 million tonnes as of November 5, while SEADEX 62% Australian ore fell to $ 117 respectively. per tonne, while PORTDEX of the same class also fell to a…
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Pakistan's Steel Exports Rise Rapidly and Awaits Anti-Dumping Duties ExtensionAccording to Aisha Steel Mills (ASML), the growth in vehicle and construction sector sales in Pakistan bodes well for demand for both cold rolled and hot dipped galvanized coil. The firm adds that the outlook is promising and it expects production and sales targets to be met. In the first quarter…
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Results of production of MMC of Ukraine for 10 months of 2020Within 10 months of 2020, metallurgical enterprises of Ukraine produced: pig iron 16.88 million tons, down 1.1% compared to the same period in 2019, steel 17.02 million tons, down 3.3%, rolled metal 15.20 million tons, down 2.2%.
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Rising Demand Leads to Rising Asian HRC PricesOn the Shanghai Futures Exchange, the HRC contract in January 2021 closed RMB 17 per ton higher than Thursday, and RMB 56 per ton higher over the week to 3920 RMB per ton. During the week, it continued to rise and returned to early September levels. Since Monday, the market has been driven by…
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Trump plans to impose duties on imports of electrical steelPresident Trump recently announced during his election campaign that the tariff would be imposed on imported laminates and magnetic cores used in electrical grids and military transformers. Cleveland-Cliffs, which owns AK Steel, supports this proposal. Cleveland-Cliffs said in a recent press that…
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JFE Steel will invest $ 1 billion to reduce carbon footprint by 20% over a decadeJapan's JFE Steel will spend more than 100 billion yen ($ 955 million) over the next decade installing equipment at its factories across the country, aiming to reduce carbon dioxide production by at least 20% during that period. JFE will replace the main oxygen furnaces, critical equipment in the…
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China's stainless steel production to exceed 30 million tonnes in 2020Stainless steel production in China is expected to grow 2.1% this year to over 30 million tonnes amid strong demand for the corrosion-resistant metal, an industry official said Thursday. Apparent consumption of stainless steel in China, the largest market, will grow 6.4% this year to 25.5 million…
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ArcelorMittal reports third quarter 2020 and nine months 2020 resultsArcelorMittal (referred to as “ArcelorMittal” or “The Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading metals and mining company, today announced results1 for a three-month period. and nine-month periods ended 30 September 2020 Features: • Health and…
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New restrictions on European steel millsMost of Europe's largest economies have entered a month-long mild isolation since this week to counter the ongoing second wave of the coronavirus pandemic. The new restrictions are expected to affect end-user demand, but steel producers in any of the major European countries are not yet directly…
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