Metallurgy news
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Coal use will decline sharply in the next 30 yearsAccording to the World Bank, the world's dependence on energy sources such as oil and coal, one of the main culprits of pollution, is decreasing. “The model is coal and renewable energy, the model can be gas and renewable energy. I think in 10, 12 years we will see renewable energy sources and…
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Many U.S. industries expect steel prices to riseThe US is the largest steel importer in the world, importing 34.6 million tonnes this year, according to a recent report from the US Department of Commerce. Canada was the top exporter at 17%, followed by Brazil and South Korea. About half of the steel products imported into the United States are…
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Liquidation of China's steel production falls on private producersPrivate steel companies in China are playing a large role in reducing production capacity in the industry, according to the sector's chamber of commerce. In 2017, China cut steel production by more than 50 million tonnes, while private steel companies provided 40 million tonnes of cuts - 80…
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China to inspect steel production facilities from May to JuneThe purpose of the inspection is to prevent steel companies from violating a ban on low-grade steel made from scrap metal or rebuilding excess capacity that has been eliminated, said Shui Hyunyon, an official with the National Development and Reform Commission (NDRC). The inspection will be…
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Tata Steel sales up 11%According to preliminary data, Tata Steel recorded 11 percent growth in the ended fiscal year. The company achieved production of 12.26 million tonnes during the year ended March 31, 2018, up from 11.35 million tonnes last year. Annual sales were 12.13 million tonnes versus 10.97 million tonnes…
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Ukraine changes law to facilitate gas productionPresident of Ukraine Petro Poroshenko signed a law simplifying the procedure for obtaining drilling permits for oil and gas production. Thanks to the new law, the waiting time for permits has been reduced, and foreign organizations will be able to obtain them easier than before. This act is…
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China imposes tariffs on goods from the USAChina has introduced tariffs on goods since April 2 - a total of 128 products in 7 categories - in response to US duties on steel and aluminum. Eight of them cover two-thirds of the group's cost and will be covered by higher tariffs. China has announced the suspension of the WTO tariff agreement…
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Ilyich Iron and Steel Works of Mariupol Received Valuable Cargo from ChinaAt the Mariupol Metallurgical Plant named after Ilyich Metinvest Group received a valuable cargo - new equipment for the construction of a continuous casting machine. Equipment from China was delivered to Mariupol by ship DolphinStar for three months. According to Metinvest, the Chinese equipment…
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Rolled steel prices rise in China amid new production restrictionsSteel product and coking coal prices jumped on Friday as key steel city Handan in northern China announced new restrictions on air pollution, while investors have already closed their short positions to close the month and the first quarter. The most active rebar contract on the Shanghai Futures…
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Large projects boost demand for steel from ChinaOver the past five years, steel imports from China have doubled due to large infrastructure projects in East Africa and will continue to grow. Due to projects such as the Lamu Port-South Sudan-Ethiopia-Transport Project, the Lake Turkana Wind Power Project and the extension of the Nairobi Outer Rim…
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