Metallurgy news
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Steel production in China increased by 8.4% yoyChina's steel production increased by 8.4% year on year in the first three quarters of this year, to about 748 million tonnes, according to a report by the Chinese government. In addition, by the end of 2019, China's steel production could reach 994 million tons. During the same period, the total…
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Metallurgical tycoon Gupta to unite steel operationsBritish commodity tycoon Sanjeev Gupta will merge his family's steel companies into the new Liberty Steel Group by the end of the year, he said. Other companies in his family's private conglomerate GFG Alliance will also be arranging for possible IPOs in the future. "Whether it be metallurgical…
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China's Steel Potential Rises As Demand FallsAn alarming picture of overcapacity is observed in the Chinese steel market, which could have implications for steel prices around the world. When the problem of overcapacity arises in Europe or the United States, domestic producers suffer and domestic prices are depressed, but the consequences…
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Mining giant Rio Tinto wins yuan contract with ChinaThe Rio Tinto Group, the UK-Australian giant in the global mining industry, has signed its first yuan-denominated purchase contract as China seeks to internationalize its currency and move more Chinese steel overseas. Rio has agreed to purchase 170,000 tonnes of SP10 iron ore from Shanxi Gaoyi…
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US Commerce Announces New Anti-Dumping Investigation Of Mexican Steel RebarThe US Department of Commerce has launched an investigation into whether companies are circumventing anti-dumping and countervailing duties on steel bars from Mexico by bending the product "on one or both sides." The Department of Commerce press release announcing the request does not indicate…
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Ukraine in the world ranking of metallurgical productionAccording to Worldsteel, for 9 months of 2019, steel production reached 139.107 million tons, which is 3.85% more than in January-September 2018 (133.947 million tons). The People's Republic of China is in the lead with a production of 74.782 million tons, which is 8.36% more than in the same…
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Iranian Steel Production Rises Despite US SanctionsIran's annual crude steel production is slated to increase by 3 million tons to 28 million tons in the current Iranian calendar year (ends March 19, 2020), announced the head of Iran's Mining and Mining Industry Development and Reconstruction Organization (IMIDRO). “Today we are witnessing national…
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Steel demand may receive support from the construction sectorAt the global level, activity in the construction and real estate sectors is expected to increase, which could boost demand for rolled steel, although a more substantial slowdown in global economic growth could limit sales growth. The Russian construction, real estate and industrial sectors are…
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Japan's Steel Exports Increase YoYAccording to the official report, the total export of metal products from Japan amounted to about 3 million tons, increasing the volume of shipments of rolled metal products by 13.8% on an annualized basis, and also increased by 0.5% on a monthly basis. The total cost was about 264 billion yen…
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Steel product exports to China rise in SeptemberChina exported about 5.3 million tonnes of steel products in September 2019, increasing shipments of rolled steel by 11.6% compared to the same month a year ago. The total export value of steel products was about US $ 45 million, an increase of 17.9% year on year. Among them, China exported about…
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