Metallurgy news
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Liberty Steel Announces Temporary Production Suspension at Georgetown Steel PlantLiberty Steel has decided to temporarily halt production at its Georgetown steel mill for at least three months. This decision is attributed to the weak global economic conditions caused by the covid-19 pandemic. According to a company press release, the decision could affect nearly 130 employees…
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World steel production in March fell by 6%Global crude steel production fell 6% to 147.1 million tonnes in March from a year earlier, data from the World Steel Association showed on Wednesday, as the coronavirus crisis forced steelmaking operations to close. However, crude steel production from China, the world's largest producer and…
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Steel prices in the UK stabilizeThe UK government has announced an extension of the coronavirus restrictions for at least another three weeks. Manufacturing activity in the UK fell sharply in March as a result of government measures to slow the spread of the coronavirus. Several service centers continue to work with the reduced…
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China's steel market will pick up steam in mid-year thanks to infrastructure incentivesChina's steel market is projected to see stronger demand growth by mid-year if expectations for realizing capital investment in infrastructure are increased to about 10% YoY in 2020 from 3.8% in 2019, sources said. Tuesday. The Chinese government said it plans to increase incentives in the…
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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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