Metallurgy news
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New home prices in 100 Chinese cities rose 0.16% in May 2026 from AprilIn May this year, the average new housing prices in China's 100 major cities were 17,156 yuan/square meter ($2,515.5/sqm), up 0.16 percent month-on-month, while increasing 2.03 percent year-on-year, as announced by the CIA, the largest independent real estate research organization in China…
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Borusan Berg Pipe strengthens U.</p><p>S. presence with new contractsTurkish steel pipe manufacturer Borusan Birleşik Boru Fabrikaları Ticaret A.Ş. (Borusan Boru) announced that its American subsidiary Borusan Berg Pipe has signed new sales contracts worth about $742 million after commercial negotiations in the United States.According to the company, it is expected…
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Fives will supply OTO tube mill and finishing equipment to Aceros ArequipaFrench engineering company Fives Group announced that Peruvian steelmaker Aceros Arequipa has been awarded a contract to supply a complete OTO tube mill with integrated finishing equipment for Aceros Arequipa's plant in lima, Peru.Fives said its scope of supply will cover the entire production…
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The future of the war in Iran is squeezing the cost of shipping steel and bunker fuelThe war in Iran has increased transportation costs, adding unexpected upward pressure to the cost of steel, both raw and finished. Marine bunker fuel at major ports has increased by 60-75 percent since the end of February, scrap metal exports from the U.S. East Coast to Turkey have increased by…
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China's steel sector PMI fell to 47.9 percent in May 2026In May this year, the purchasing managers' index (PMI) for the Chinese steel sector was 49.2 percent, down 1.3 percentage points from April, as announced by the China Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).Moreover, in May, the new…
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Net profit of Indian mining company NMDC Limited increased by 35% in the fourth quarter of fiscal year 2025-26%Indian state-owned iron ore mining company NMDC Limited achieved a consolidated net profit of INR 20.2 billion ($212.12 million) in the fourth quarter (January-March) of fiscal year 2025-26, an increase of 35 percent compared to the corresponding quarter of the previous fiscal year, according to…
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Increase in the number of drilling rigs in the USA and Canada - Week 22 2026Baker Hughes reported that for the week ended May 29, 2026, the number of U.S. rotary drilling rigs increased by four rigs each week to 562.The number of gas production rigs remained unchanged at 125, while the number of oil production rigs increased by four to 429. The total number of U.S…
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Gerdau links the investment to increased barriers against Chinese steel imports to BrazilGuerdão President Gustavo Werneck said this week in Brazil that he expects the government will soon introduce additional barriers to Chinese steel imports, which he believes will create unfair competition for Brazil's steel industry.New investments in the country and even the restart of the Barão…
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Indian company KIOCL limited returned to profit in the fourth quarter of the financial year 2025-2026Indian state-owned iron ore pellet producer KIOCL limited posted a net profit of INR 530.00 million (USD 5.52 million) in the fourth quarter (January-March) of fiscal year 2025-26, compared to a net loss of INR 360.00 million (USD 3.75 million) in the corresponding quarter of the previous financial…
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China will renovate 500 thousand dilapidated urban housesThe State Council of China published the 15th Five-Year Urban Renewal Plan (2026-2030), outlining the main goals of urban renewal for this period. These goals include the renovation of 500,000 dilapidated urban housing units, the start of the reconstruction of 115,000 old urban residential…
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