Metallurgy news
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Japanese steel production fell to 10-year low in JanuaryJapan's crude steel production declined 9.8% year-on-year to a 10-year low of 8.14 million tonnes in January 2019, reflecting a 3.8% drop from December 2018, according to the latest data released Federation of Metallurgy of Japan. Steel production in Japan last fell to this level in July 2009 to…
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Glencore entered the Black Iron project in UkraineBlack Iron shares are skyrocketing following the signing of a memorandum of understanding with Glencore on an iron ore project in Ukraine. The shares of the Canadian company Black Iron Inc. rose more than 35% on Wednesday following the announcement of a memorandum of understanding (MOU) with mining…
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Slab prices in the CIS continue to risePrices for slabs offered by suppliers from the CIS countries continue to rise, fueled by a shortage of materials amid strong demand and a rise in prices for primary raw materials and finished sheet products. CIS slab sales were closed this week at $ 480-490 /t of Black Sea grade to Europe, with…
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HRC prices in Italy have risenItalian hot rolled steel producers are raising asking prices to € 500 /t ($ 566.7 /t) ex-factory, market sources for Kallanish say. One manufacturer increases its price to € 520 per tonne ex-factory. For the first time in several months, the Italian HRC touched EUR 500 /t after a period of low…
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US Steel will have a monumental impact on Alabama's steel industryUS Steel plans to invest $ 215 million to restart the billet steel furnace by 2020. An announcement by a US steel company in Pittsburgh to resume construction work on a state-of-the-art electric arc furnace (EAF) at a steel mill in Fairfield, Alabama is likely to generate significant growth for the…
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India extends incentives to certain imported steel gradesThe Indian government on Wednesday extended the deadline for compliance with tighter import regulations for some grades of steel, mainly used by automakers, until April 17, the steel ministry said in a statement. Compliance with the new rules was previously established on February 17, but strict…
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Steel and iron ore fell in price amid weak demand in ChinaConstruction steel futures in China fell on Wednesday as investors remained wary of post-weekend demand from downstream users. Following the Lunar New Year holiday earlier this month, construction sites and manufacturing plants usually resume work this week. “Major markets in China have not fully…
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Brazil may retaliate against EU duties on rolled steelThe Brazilian government said Brazil has asked the European Union for compensation after it imposed import tariffs on steel from major producing countries earlier this month. The government has also notified the World Trade Organization that it may take its own countermeasures to "balance" trade in…
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Japan's Kyoei Steel raised rebar prices by $ 18 per ton in MarchJapan's largest rebar maker Kyoei Steel announced on Tuesday that it will raise rebar prices by 2,000 yen /t ($ 18 /t) for March contracts in response to higher raw material costs. The company last raised rebar prices by 2,000 yen /t in December last year and 2,000 yen /t in November last year…
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U.S. Commerce Department Submits Car Tariff Report to President TrumpThe South Korean government has responded to a US Department of Commerce report imposing tariffs on cars and auto parts exported to the United States. The Commerce Department submitted a report to President Donald Trump on February 17 in accordance with section 232 of the Trade Expansion Act 1962…
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