Metallurgy news
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Falling consumer demand may curb India's steel production boomAfter a weak January result, steel production in India rose in February, up 5.7% from a year earlier. Joint production committee data compiled by SBICAP Securities Ltd also show healthy growth in steel demand, with consumption increasing 8.6% last month. However, amid growing evidence of declining…
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Interpipe is one of the largest payers of taxes and fees in 2018Throughout 2018, the Ukrainian industrial company INTERPIPE transferred UAH 2.17 billion to the budgets of all levels and off-budget funds. Compared to 2017, the volume of tax payments increased by 14.8%. The amount of deductions to the state budget amounted to about UAH 1.334 billion, to local…
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Head of Liberty Steel USA on the negative impact of steel tariffsUS Section 232 tariffs on US steel imports were introduced last year to support US steel producers, but tariffs are not necessarily a good long-term solution for the industry, Liberty Steel Holdings USA President Vikrant Sharma said Thursday. Freight logistics is "one of the biggest problems in the…
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Iranian steel exports continued to fall in FebruaryIran's major Iranian steel companies reported a 51% month-on-month decline in exports from Feb.19 to 373,888 tons. In the 11 months to 19 February, these exports fell 22% year on year to 5.1 million tonnes. Iran's largest steel exporter, Khouzestan Steel, said monthly overseas shipments fell 43% to…
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China's steel production in January-February increased since December 2018China's daily steel production surged in January and February as the world's largest steelmaker's mills boosted production amid stable steel margins and eased environmental restrictions. The average daily steel output for the two months reached 2.54 million tons, compared with 2.46 million tons in…
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Production results of the metallurgical sector of Ukraine since the beginning of 2019General performance indicators of enterprises of the MMC of Ukraine in February and for 2 months of 2019: In February 2019, it was produced: - pig iron - 1.59 million tons, which is 11% lower compared to January 2019; - steel - 1.69 million tons, which is 9% lower; - rolled products - 1.48 million…
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BHP crew "fixed" the wrong trainThe rampant story of the train wreck of the BHP Group's iron ore has taken a new twist. A preliminary report on a 2018 accident in a remote Australian outback revealed that a rail maintenance crew was dispatched to help a malfunctioning freight train unintentionally performed work on the wrong…
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Chinese steel and iron ore rebounded on demandChina's steel and iron ore prices rose this week amid expectations that many of the country's suspended construction projects will resume, with more to begin soon, boosting demand for commodities. The most active steel rebar construction contract on the Shanghai Futures Exchange rose 2.5 percent to…
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Vietnam's steel industry could affect global markets as production risesVietnam's growing steel industry could impact global steel trading patterns in 2019 in light of its strong performance in overseas markets and production growth. Despite the United States' imposed section 232 tariffs, Vietnam was able to increase its exports to the United States in 2018, while…
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Hyundai Steel raises HRC offer to $ 600 per tonneHyundai Steel of South Korea is offering a May delivery of hot rolled steel coils to Southeast Asia at $ 600 per tonne. This is US $ 30 per tonne higher than the deal price of around US $ 570 per tonne agreed with buyers from South East Asia in April. Rising cost of raw materials, especially iron…
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