Metallurgy news
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Tata Steel's net profit tripledTata Steel Ltd reported more than threefold growth in net income in the second quarter, easily outperforming market valuations, boosted by strong sales in India. Net income was Rs 31.16 billion (USD 428.79 million) in the second fiscal quarter ended September 30. Then, as a year earlier, the profit…
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Brazilian Pig Iron Export Prices Maintain Stable OutlookBrazilian pig iron export prices began to flatten due to poor demand, mainly in the US and Mexican markets. However, the onset of the country's rainy season in early November could provide some price support as production declines. According to the sources, the average export price of pig iron has…
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Turkey introduces global tariff quotas for rolled metal importsTurkish President Recep Erdogan signed Decree No. 138 to introduce interim safeguards in the form of a global tariff quota of 200 days for imports of rolled metal, regardless of the country of origin and export. This tariff quota began on October 17, 2018 and will last until May 4, 2019. At the…
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ArcelorMittal Kryvyi Rih supplies rolled metal products for the construction of LvivTechCity parkPJSC "ArcelorMittal Kryvyi Rih" supplied the first batch of its reinforcing bars in the amount of 176 tons for the construction of LvivTech.City. The rebar is shipped directly from the warehouse of PJSC "ArcelorMittal Kryvyi Rih" in Lviv. The innovation park in Lviv will occupy 4.8 hectares, the…
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Galati Steelworks increases steel production by 50% in RomaniaSanjeev Gupta, executive chairman of the GFG Alliance that owns Liberty Steel, has made a major investment in Galati Steelworks, Romania. GHG previously announced the acquisition of the plant from ArcelorMittal. The deal is expected to be completed by early next year. According to the company, the…
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Severstal's positive outlookRussian vertically integrated steelmaker and mining company Severstal believes global steel demand is slowing from 1.9% in 2019, up from a previous estimate of 2.1%. Overall, despite sharp declines in demand in some areas, reduced production in China and continued growth in global demand will see…
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How steel tariffs affected the supply of American factoriesThe American Iron and Steel Institute (AISI) reported a significant drop in steel shipments to American plants in September. Shipments by US steel mills were 7.812 million tonnes, down 7.5% from the previous month. In August this year, deliveries amounted to 8.442 million tons. However, shipments…
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TMK IPSCO opens a new line of external coating equipmentRussian manufacturer TMK, a market leader in tubular products for the oil and gas industry, has commissioned new coating equipment at its Wilder TMK IPSCO facility in North America. The coating protects the pipeline from corrosion and mechanical damage. The plant manufactures pipes up to 24 inches…
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World steel production will increase by 4.6 percent in 2018Global steel production is projected to grow 4.6 percent year-on-year to 1.79 billion tonnes in 2018. This significant increase was driven, in part, by the expected 6.3 percent gain in steel production in China. After the closure of unapproved facilities, the Chinese authorities can now obtain a…
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Chinese steel fell in price to a monthly lowAmid concerns over rising supply of rebar futures in Shanghai, steel prices fell to their lowest level in a month on Thursday, driven by expectations that supply will rise as mills increase production amid softer production restrictions in the winter. China Steel and Steel Association data showed…
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