Metallurgy news
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EUROFER plans renewal on the EU steel pipe industryEUROFER announced that manufacturing activity in the EU steel pipe industry has stabilized at levels seen a year earlier in the third quarter of 2019, quite similar to the situation in the first half of last year. This further confirms that due to the lower share of large pipes in the EU product…
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Steel Buyers Reduce Orders To China Due To Wuhan CoronavirusLast week there were fewer orders from South American countries to China due to the Wuhan coronavirus, especially for carbon steel coils and plates. While market participants worried that Chinese stove prices could face a drop in sales due to low readiness from buyers, there are still a few steel…
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Brazilian slab exports fell in 2019Brazilian slab maker Companhia Siderúrgica do Pecém (CSP) cut shipments year-on-year in December. Total exports also remained low throughout 2019. In December alone, shipments fell to 246,172 tons, which is 17.6% less than in the same period in 2018. However, this volume was 15.4% more than in…
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Chinese Baosteel maintains prices for MarchBaosteel, one of the leading steel producers in China, has announced a price hold for March. Baosteel raised its hot rolled coil price by 200 yuan per ton in January and 30 yuan per ton in February. Baosteel, hit by the coronavirus in Wuhan, decided to keep the price down and stabilize the market…
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India becomes Asia's largest scrap metal importerAccording to official statistics, India was the largest scrap metal importing country in Asia in 2019, with total annual imports of about 7.05 million tonnes, followed by South Korea (6.5 million tonnes), Vietnam (5.5 million tonnes). and Taiwan (3.5 million tons). For the first time in the last…
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ArcelorMittal Reports Huge Q4 Losses Amid Challenging MarketArcelorMittal announced results for the three-month and twelve-month periods ended December 31, 2019 with a billion losses. ArcelorMittal noted that the annual losses were mainly due to difficult market conditions. Last year, the company received $ 2.4 billion in free cash flow. It ended in 2019…
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Nippon Steel suffered losses of $ 4 billionNippon Steel forecast a record net loss of 440 billion yen ($ 4 billion) for the fiscal year ending March 31, up from a previously forecast profit of 40 billion yen, as protectionist governments and Asian rivals cut the bottom line. The company is curtailing opportunities to improve its…
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Vietnamese steel production surges in 2019 due to increased HRC productionVietnam's steel production grew 4.4% year-on-year to 25.3 million tonnes in 2019, while domestic steel sales grew 6.4% year-on-year, according to the latest report released by the Vietnam Steel Association (VSA). calculated due to the fact that the production of hot-rolled products had a rapid…
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Zaporizhstal increases steel production in JanuaryZaporizhstal, the fourth largest steel producer in Ukraine, reports its crude steel production in January of this year was about 338,000 tonnes, up 2.3% from the previous month, while there is a fall of 4.5% compared to with the same month in 2019 In addition, pig iron production amounted to almost…
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Japanese steel companies hit by cyber attacksKyodo News reports that Japan's Ministry of Defense has confirmed that Kobe Steel Ltd and satellite data provider Pasco Corp have been targeted by cyber attacks, the latest in a series of confirmed attacks against Japanese defense-related companies. According to Kobe Steel, some terminals on the…
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