Metallurgy news
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Why iron ore prices are risingTax cuts in China and the destruction of a dam in Brazil are boosting iron ore production. The outlook for rising iron ore prices will continue to boost Australia's large miners in the short term as they benefit from planned tax cuts in China and the Brazilian mine tragedy. Marine iron ore…
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POSCO E&C Wins $ 100 Million DealPOSCO Engineering & Construction Co. (POSCO E&C), a subsidiary of South Korea's largest steelmaker, POSCO, said it has closed a $ 100 million (113.45 billion won) deal to build a thermal power plant in Mexico. The company signed an agreement with Ener AB on March 6 (local time) to build a…
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Duty-free export of scrap metal poses a threat to Ukrainian metallurgistsUkrainian exports of ferrous metal scrap fell to just 11392 tons in January-February, compared to 86.448t in the corresponding period of 2018. February exports amounted to only 3000 tons. Earlier, the Verkhovna Rada voted to extend the duty on the export of scrap metal. However, the decision to…
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New Egyptian government directive restricts billet importsEgypt's Ministry of Trade and Industry has issued a directive allowing only enterprises licensed to manufacture to import billets. This effectively cuts out traders who provided the lion's share of the import of billets into the country due to trade finance complications caused by the inability of…
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Steel raw materials in China sinking under the influence of economic growth forecastSteel prices in China fell as coking coal prices posted their worst week since December, under pressure from fears over steel demand as the country's economic growth continues to cool. Steel futures also ended volatile trading after data on Friday showed that China's exports fell the hardest in…
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World pig iron production in January amounted to 101.9 million tonnesThe volume of production of blast furnace iron by countries of the world amounted to 101.884 million tons in the first month of the opening of 2019. The above production data was published by the World Steel Association (worldsteel) based on the data collected. of the 38 reporting countries that…
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US steel imports fell 12% in 2018All five of the largest offshore suppliers, with the exception of Vietnam, reported declines in US steel shipments. The American Iron and Steel Institute (AISI) today reported that total steel imports into the country in 2018 decreased by 11.5%. Meanwhile, imports of finished steel also fell 13.1%…
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Ukraine plans to rise in the Doing Business rating by 10 positionsThe Cabinet of Ministers has set a goal for Ukraine to rise by at least 10 points in the Doing Business rating by 2020. This was reported by the press service of the Ministry of Economic Development on its Facebook page. “We have set ourselves a goal - by 2020 to rise by at least 10 points in the…
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Brazil Extends Anti-Dumping Investigation Period Against Heavy Plates From Ukraine And ChinaBrazil has postponed an anti-dumping investigation report on imports of carbon steel plates from China, Ukraine, South Africa and South Korea for up to 2 months from 2 August. This is stated in the document of the local secretariat of foreign trade of the Ministry of Industry of Brazil (Secex…
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Verkhovna Rada deputies demand to cancel the increase in export duty on scrap metalOn Friday, March 1, in the Verkhovna Rada of Ukraine, a draft resolution No. 9474-P1 was registered on the abolition of the adopted law of February 28, 2019 on increasing the export duty on scrap metal to 58 euros per ton. The author is the people's deputy Alexander Opanasenko. In an explanatory…
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