Metallurgy news
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China calls for lifting ban on imports of steel scrapThe China Scrap Association is lobbying to end the ban on imports of ferrous scrap to help cut domestic deficits and lower costs for steel mills. China began to cut scrap imports in June 2017, intending to ban all scrap imports by 2020. China also imposed a 25 percent import tariff on scrap metal…
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Long-term outlook for Ukrainian steel production remains gloomy - Fitch SolutionsRatings agency Fitch Solution said: “We maintain a bleak outlook for the Ukrainian steel industry in the coming years, driven by the ongoing conflict in Donbas, which disrupts vital supply chains for steel producers. Overall, declining steel prices and growing protectionism in the steel sector will…
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Italy accuses ArcelorMittal of blackmail over Ilva plantGiuseppe Conte, Italy's prime minister, said he would not allow ArcelorMittal to abandon its acquisition of the troubled Ilva steel mill. The prime minister told reporters: "The agreement has been agreed and we are not going to back down, so the commitments will be respected." Industry Minister…
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Nippon Steel integrates and reorganizes steel plantNippon Steel Corporation has facilitated the integration and reorganization of some steel plants and the establishment of cooperation measures between steel plants in order to increase competitiveness. The company has now decided to make these changes across all smelters as part of an…
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European steel prices to stay low in the short term - Fitch RatingsFitch Ratings and CRU said that steel product prices in Western Europe fell in 2019 from their 2017-2018 peak and are likely to remain low by 2020. It was noted that “steel producers' margins have declined, but this may rise towards the end of 2020 due to capacity cuts and lower costs. The…
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Steel production in Ukraine decreased in OctoberCrude steel production in Ukraine in October amounted to 1.56 million tons, which is 10.5% less than in the previous month. Along with this, in the first 10 months of 2019, steel production in Ukraine increased by 2.3% year on year, reaching about 18 million tons, which is 4.1% more compared to the…
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AISI welcomes GFSEC agreement to reduce excess capacityThe American Iron and Steel Institute (AISI), along with fifteen other steel industry associations from around the world, welcomed the agreement of most members of the Global Steel Overcapacity Forum (GFSEC) to continue their work to reduce excess steel capacity. The associations also called on…
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How iron ore prices will affect the cost of rolled metalAt an iron conference at the London Metal Exchange in London, a Citi analyst explained to delegates that iron ore prices should be "slightly lower next year," while coal may rise in value. As a result, steel prices will remain moderate but not fall, said Tracy Liao, an analyst at Citi. According to…
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Steel production in CIS countries declined by 2.6% - WorldsteelThe aggregate production of crude steel for the initial nine-month period of the current year amounted to 76.016 million tons. Production data published by the World Steel Association (Worldsteel) show a marked decline in crude steel production in the Commonwealth of Independent States (CIS) region…
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BHP Allocates $ 44M to Rebuild Mine After World's Worst Environmental DisasterThe world's largest miner, BHP, said the funding will go towards building a filtration plant over the next 12 months, after which the mine will resume production. BHP has approved $ 44 million in funding to reopen Samarco Mineracao, its iron ore joint venture with Vale in Brazil, four years after…
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