Metallurgy news
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Steel production in Italy fell in January-AugustAccording to the Federazione Imprese Siderurgiche Italiane (Federacciai), Italy produced about 1.54 million tonnes of steel in January-August, down 4.5% from the same period a year ago. In August, total steel production was around 857,000 tonnes, down 26.6% year on year. Italian steel mills stopped…
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US Steel announces layoffs of 350 employeesUS Steel recently said it was laying off about 350 workers in Michigan and Indiana. In an August 1 letter to the head of the Michigan Workforce Development Agency, the company said it would lay off about 200 workers at its Great Lakes plant due to stove downtime. "These adjustments are driven by…
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Coal stocks in EU ports rise to 4-month highCoal stocks at Northwest European dry bulk terminals have risen to four-month highs as low river water levels reduce barge supplies to inland factories. Stocks at four key dry cargo terminals in Amsterdam, Rotterdam and Antwerp were recorded at 7.1 million tonnes this week, the highest since late…
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Malaysia introduces preliminary tariffs for rebar from Singapore and TurkeyThe Ministry of International Trade and Industry said Malaysia has imposed temporary anti-dumping duties on reinforced concrete rebars from Singapore and Turkey. Following a preliminary investigation that began in late April, Malaysia will impose an interim measure “in the form of temporary…
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Metalloinvest announces early redemption of its 2020 EurobondsThe world's leading iron ore and HBI producer and supplier, as well as one of the regional high-quality steel producers, Metalloinvest, have announced their intention to redeem their 2020 Eurobonds ahead of schedule. In order to optimize its loan portfolio, the Company decided to repurchase its…
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Brazilian steel production fell in AugustAccording to the latest data from the Brazilian Steel Institute (IABr), Brazil produced about 2.52 million tonnes of crude steel in August, down 13.4% from the same period last year. Rolled steel production in August was about 1.84 million tonnes, down 3.3% year-on-year. From January to August…
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Pakistan closes 5 rolling mills due to air pollutionThe Pakistani Environmental Protection Agency has closed five rolling mills in Lahore due to air pollution problems in those mills. Ali Ijaz, deputy director of the Environmental Protection Department (EPD), said the factories were shut down because they were using low-quality fuel and emitted too…
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Steelmakers in Turkey hope to replace US tariffs with import quotasTurkish steelmakers tried to positively regain their share of the US steel market. Some steelmakers hoped to discuss the matter with US authorities, although there is currently no reliable information on the market. Some market participants hoped to replace US tariffs with 25% import quotas. They…
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US-UK Trade Agreement Expected July 2020The main goal of the US was to hope that the UK would lower the import tariff on US steel products, and the goal for the UK was to get permission to enter the US financial services market. According to Donald Trump's G7 announcement in August, a US-UK trade agreement was in progress and both…
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Steel recycling policy in India fused to strengthen steel sectorThe government is pushing for steel recycling policies as it seeks to increase scrap use, production, reduce India's dependence on imports of raw materials for steel production, and attract investment. “By next month we will probably have a solid policy. We have already prepared one at the Ministry…
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