Metallurgy news
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Indonesia to build 18 nickel plants in 2019China is the world's largest stainless steel producer and has long dominated the nickel industry in Indonesia. As such, this has led to strong market pressure from local operators of a metallurgical plant in Indonesia. According to reports, Indonesia will build 18 nickel plants this year. It has…
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Turkish imports of iron ore and scrap fell in JulyAccording to statistics from the Turkish Statistical Institute (TUIK), Turkey imported about 743,000 tons of iron ore in July, down 39% year on year. Among them, Brazil was the largest supplier with 243,000 tons, down 61% year on year. South Africa supplied about 167,000 tons, up from zero last…
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US imposes duties on structural steel from China and MexicoThe US Department of Commerce said Wednesday it imposed tariffs on structural steel from China and Mexico after preliminary announcement that manufacturers in both countries were dumping structural steel into the US market at prices below fair market value. The department said it has imposed duties…
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Iron ore recovers in priceChina's stimulus could push steel futures to a higher level. The best-selling iron ore futures on the Dalian Commodity Exchange for January 2020 delivery rose 1.8% to 655.50 yuan ($ 91.90) a tonne after falling 3.6% earlier in the session. On the Singapore Exchange, October contracts for the first…
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July Steel Deliveries Up 5.1% MoMThe American Iron and Steel Institute (AISI) reported that US steel mills shipped 8,115,10 tons of steel products in July 2019, up 5.1 percent from 7,718,499 tons shipped in the previous month in June 2019. there was also an increase of 2.6% compared to 7,911,228 tonnes shipped in July 2018. YTD…
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Posco workers reach agreement to raise wagesPosco, the largest steel producer in South Korea, said it has entered into a wage and collective bargaining agreement with its union that will increase base wages by 2 percent. The union announced a vote earlier that day: 86.1 percent, or 5,449 workers, decided to take it, the company said. Of the…
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US flat steel supply interruptions expectedPlans to shut down US flat steel capacity are ramping up for the rest of the year, with at least 100 days of cutbacks at various factories, according to an analysis by S&P Global Platts. Most of the major flat steel manufacturers in the United States have scheduled maintenance scheduled for the…
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Sluggish global steel demand puts pressure on iron ore and coal pricesIn 2019, global steel mills' margins declined, which in turn led to lower iron ore consumption and coking coal prices. In 2018, HRC benchmark prices exceeded $ 1,000 /t delivered in the Midwest for the first time since 2008, and the robust rise in steel prices and demand since 2016 has provided…
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Vietnam's steel exports are on the riseVietnam's steel exports reached nearly US $ 2 billion this year, up nearly 15% over the same period in 2018. Vietnam's steel exports in July rose 4.7% from the previous month, according to the General Department of Customs. Steel exports increased in July after three consecutive months of declines…
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China's Hebei PMI weakens in AugustThe steel purchasing managers' index released by Hebei province in northern China fell 0.4 basis points from the previous month to 47 points out of 100 in August, indicating major weakness in the Chinese steel market. It was the fourth straight month, according to the latest figures released by the…
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