Metallurgy news
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Cost increases eat up Chinese steelmakers' margins in AugustAt China's blast furnace steel mills, most of their steel margins were cut in August by higher production costs, especially given the multiyear high prices for imported iron ore, according to Mysteel's latest monthly report. For rebar, the most popular bar in China, the average margin among 91…
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US Steel announces price hikes for sheet metalAccording to letters sent to customers and reviewed by S&P Global Platts, US Steel announced on September 14 that it would raise its flat steel prices by at least $ 60. Although the company did not specify minimum target prices in the letter, a source at the plant and a source on the buyer's side…
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US Steel Sector Utilization IncreasesUS steel production for the last week ended was 1.428 million net. Capacity utilization was 63.7%, up 2% from the previous week, according to weekly steel industry data released by the American Iron and Steel Institute (AISI). Estimated production for the last week represents a 21.2% decline from…
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Canada will introduce reciprocal duties on the United StatesThe Canadian government will retaliate US $ 3.6 billion in tariffs on US products as a countermeasure to US re-imposition of tariffs on Canadian aluminum. A specific list of tariffs was to be announced. Kirsten Hillman, a Canadian diplomat appointed as Canada's ambassador to the United States, said…
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Imports of stainless steel to Russia increased in JulyAccording to statistics published by the Association of Consumers and Suppliers of Special Steel and Alloys (Association "SpetsStal"), in July Russia imported about 31,000 tons of stainless steel, which is 3.8% more than in the previous month. Among them, imports of stainless steel flat products…
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Steel profits in China fell sharply in September due to high iron ore pricesAccording to S&P Global Platts, the profitability of rolled steel production has fallen since the beginning of September due to high prices for iron ore and a "correction" in prices for finished steel. Domestic rebar margins have nearly halved since the beginning of the month, falling to $ 19.83 /t…
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The USA reduces the quota for import of billets from Brazil by the 4th quarterAlthough Brazil received a US billet export quota in 2018, the US President recently announced a temporary quota cut. At the end of August this year, the US government announced that it would cut the quota for US billet exports for the fourth quarter from 350,000 tons to just 60,000 tons. Lowering…
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Steel production in Odisha is in dire condition due to lack of iron oreThe Indian steel industry located in Odisha is currently requiring urgent intervention from the central and state governments due to an unprecedented shortage of iron ore after 21 mines were closed due to expiration of leases and out-of-service status, resulting in iron ore crisis in the state…
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US steel production recoversFor the week ending September 5, US crude steel production was about 1.43 million short tons, up 3.3% from the same period a week ago, according to statistics from the American Iron and Steel Institute (AISI). by 21.2. % compared to the same period a year earlier. The capacity utilization rate was…
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Taiwan imports of steel sheet hit new high in AugustAccording to statistics from Taiwan Customs, the total steel sheet imports to Taiwan in August this year amounted to about 86,439 tons, an increase of 165% on a monthly basis. Among them, the main supplier country was Russia - about 36,900 tons. Moreover, in the first 8 months of this year, Russia…
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