Metallurgy news
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Consequences of coronavirus outbreak will lead to lower steel pricesAccording to analysts at brokerage Jefferies, a temporary drop in steel production and demand in China due to the outbreak and related restrictions could lead to increased steel production elsewhere and increased inventories, which could lower global steel prices. Research by S&P Global Platts also…
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Ukraine is in the 10th place in the world rating of iron producersAccording to Worldsteel, in 2019, metallurgical enterprises of the countries of the world produced 1,355.59 million tons of pig iron, of which 1,265.52 million tons were smelted by the blast furnace method and 90.07 million tons by the direct reduction method. This is 2.27% higher than the figure…
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Argentina welcomes US decision not to impose steel tariffsArgentina welcomed the US decision not to impose tariffs on steel and aluminum in the South American country, which President Donald Trump threatened in December. “The list of countries to be sanctioned has been made public, but Argentina is missing,” Foreign Minister Felipe Sola said in an…
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China is taking serious steps to reduce excess capacityThe Ministry of Industry and Information Technology said China has taken major steps to eliminate excess capacity since 2016, cutting steel production by more than 150 million tons. Over the past four years, more than 140 million tons of substandard steel capacity has also been eliminated, said…
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Turkish steel exports to US and EU fell in 2019 due to tariff increasesSteel exports from Turkey to the US and European Union (EU) markets between January and November 2019 fell by almost 2.7 million tonnes from levels recorded a year earlier due to additional protective tariffs imposed by Washington and the bloc. Total exports of the Turkish steel industry to the…
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India and US to resolve dispute over steel import dutyIndia and the United States have agreed to peacefully resolve a dispute over US import duties on some Indian steel products, in which Washington is not yet fully compliant with WTO decisions. According to the WTO, the two countries continue to conduct good faith discussions in search of a positive…
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Moody's revises TMK rating outlook from stable to positiveMoody's Investors Service has affirmed the rating of one of the world's largest producers of steel pipes for the oil and gas industry. At the same time, Moody's affirmed the B1 rating of senior unsecured bonds issued by TMK Capital SA, a subsidiary of TMK. The rating outlook changed from stable to…
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Turkish Cengiz confirms interest in acquisition of British companyTurkish conglomerate Cengiz said on Sunday that it is ready to bid for British Steel if the deal with China's Jingye fails. Cengiz Holding CEO Omer Mafa stated that “British Steel is an important asset and we are following developments closely and are ready to place our bet on all of British Steel…
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Steel production in Italy in 2019 below forecastsSteel production in Italy in 2019 fell 5.2% year-on-year to 23.24 million tonnes, according to the latest data released by the Italian steel association Federacciai, as the year ended with a production cut. In October, the association forecast a decline of 4% to 4.5%. Production of flat products in…
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Chinese futures decline amid raging virusShanghai steel futures extended losses in trading on Thursday ahead of the weeklong Lunar New Year hiatus amid fears that a new coronavirus outbreak in the country will hit construction activity. The best-selling steel rebar contract on the Shanghai Futures Exchange fell 0.4% to 3,523 yuan ($…
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