Metallurgy news
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AK Steel Introduces New High Performance Electrical SteelAK Steel has announced the launch of a new category of electrical steels for use in high voltage and supervoltage power transformers. The new product range is expected to help power transformer manufacturers achieve significant improvements in the overall efficiency of their products. The new…
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India controls duty-free gold imports from RussiaThe Indian government is considering a proposal to import gold from Russia to support the gem and jewelry export sector. This was announced by Minister of Trade and Industry Suresh Prabhu during an interview. The proposed scheme, if implemented, will help the country save currency, as well as…
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Iron ore price remains above $ 60 per tonThe world price for iron ore should not fall below $ 60 per tonne, Brazilian Secretary General Vale Fabio Schwarzman said. The chief executive addressed the Brazilian Investment Forum in Sao Paulo. This is the estimated “baseline” for the product during 2018. This happens when the iron ore market…
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Scrap metal use in steel production increased in 2017The global use of ferrous scrap for the steel industry rose to a higher level of steel production last year, according to a report by the Bureau of International Recycling (BIR) published at its annual conference in Barcelona. This led to an increase in the share of EAF steel production globally to…
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China's iron ore trade is weakIron ore prices in Chinese ports remain stable. Some traders tend to stimulate sales due to lower costs, while most of them are still on standby and watch. Steel mills have low buying interest as they maintain sufficient demand for iron ore. While steel mills are not active in purchasing, trading…
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ArcelorMittal to sell stake in MacsteelThe ArcelorMittal group in South Africa will sell its 50 percent stake in trading and shipping company MIHBV to its joint venture partner Macsteel Holdings Luxembourg (MacHold) for $ 220 million, the steelmaker said this week. The company's share price rose more than 24 percent. “The proceeds from…
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EU discusses options for US imposition of duties on steel and aluminumEven if the US excludes the EU from the list of applicants for additional duties on steel and aluminum, they could quantitatively restrict market entry, as EU Trade Commissioner Cecilia Malmstrom said in Strasbourg. US President Donald Trump imposed a 25 percent duty on steel imports and a 10…
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Vale Announces Key Outlooks for Iron Ore Production in 2018Brazilian miner Vale expects iron ore production at its advanced S11D mine to reach 58 million tonnes this year, surpassing the official forecast of 50 million to 55 million tonnes, said a person familiar with the matter. The expected increase is mainly attributable to sales of higher pollutant…
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Kyoei Steel Keeps Rebar Prices In June ContractsKyoei Steel, the largest manufacturer of rebar products in Japan, announced Thursday that it will keep rebar prices unchanged for June contracts. The company did not disclose its pricing policy, but the current market price for base size rebar in Osaka was around $ 67,000-68,000 /t ($ 611-620 /mt)…
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China Steel Futures Rise As Inventories Decrease And Raw Materials FluctuateChinese steel futures rose on Friday, raising concerns amid declining steel inventories at the world's largest material producer. Rebar stocks at traders this week fell by 410,000 tons to 5.66 million tons by Friday, which was noted in early February, according to data from the consulting company…
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