Metallurgy news
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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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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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