Metallurgy news
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Global steel demand is expected to recover in the second half of the yearSteel demand is likely to rebound in the second half of this fiscal year on the back of expected growth in the infrastructure sector, according to the Icra report. She noted that the decline in demand and the reduction in steel exports contributed to the low growth in steel production at 3.3…
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Nippon Steel fears lower profit from US tariffsJapanese company Nippon Steel Corp. said any move by Washington to impose tariffs on Japanese cars and auto parts would hamper its revenues, but expected the direct impact of proposed tariffs on US imports from Mexico to decrease. In an effort to curb the surge in illegal immigration, US President…
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Steel prices in the US will rise, and the economy will be "fantastic"The second half of 2019 will be “fantastic” for US steel prices, Cleveland-Cliffs CEO Gonsalves said in an interview. A 21% decrease in the price of hot rolled steel produced in the United States since the beginning of 2019 (to $ 582.75 from $ 740 per tonne) has affected companies throughout the…
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China's Largest Steel Maker To Acquire Smaller CompetitorChina's largest steelmaker is set to absorb a smaller competitor in a policy of consolidating a bloated industry. China's state-owned Baowu Iron and Steel Group will acquire 51% of Magang (Group) Holding Co. Ltd. The move will increase Baowu's total production capacity from 70 million tonnes to 90…
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NLMK counts on investments in the USANLMK's investment strategy for US assets is ready for implementation. It is only a matter of time before this should be done, said company chairman Vladimir Lisin during a media briefing. “NLMK invests where the market is: we controlled part of the US slab import market and planned significant…
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Vietnam introduced a duty on Malaysian and Kazakh procurementVietnam has introduced protective measures for harvesting from Malaysia and Kazakhstan. The 17.3% duty comes into effect from June 13 to March 21, 2020 and thereafter will expire to 0% unless renewed. Billet imports from these two countries were previously exempted from protective duties when…
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Iron Ore Concentrate Production in Iran Exceeds 4 Mt /Month in Commodity News 06/03/2019Statistics showed that nine mining companies in the country produced 4,013,413 tons of iron ore concentrate in the first month of this year (March 21 to April 20), showing a decrease of one percent over the corresponding period last year. The country's major iron ore producers produced 45,484,656…
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Interpipe passed prequalification from the American distributor Distribution NOWThe INTERPIPE NIKO TUBE plant, which is part of the Ukrainian industrial company INTERPIPE, has passed the prequalification of a supplier from Distribution NOW, a major American distributor of pipe products. Last year, Tuboscope Vetco, commissioned by Distribution NOW, conducted a prequalification…
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Proposals for procurement in the CISBids for procurement in the CIS at $ 445-450 per tonne with fob in the Black Sea remain too high for buyers, leading to a noticeable lack of activity, which is further emphasized by the end of the month and the lull in Ramadan. The increase was triggered by Washington's surprise mid-month move to…
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North American steel production increased 3.8%The rise in US production was partially offset by huge declines in Cuba and Mexico. The North American region reported a significant jump in steel production in April this year, according to the latest statistics released by the World Steel Association (worldsteel). Regional output rose…
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