Metallurgy news
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Odisha mine closure creates iron ore shortage in IndiaThe closure of six iron ore mines in Odisha created a supply deficit of 5.5 million tonnes. This is expected to increase the cost of producing sheet steel by about Rs 800-1000 /ton. Following non-payment of compensation equal to 100 percent of the value of iron ore illegally mined prior to December…
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AK Steel expects to raise sheet steel prices by USD 30AK Steel will raise base prices for carbon sheet products by at least $ 30, which will immediately translate into new orders, the company said. The increase follows ArcelorMittal's announcement late last week that it intends to increase base pricing to $ 750 for hot rolled coils and $ 930 /t for…
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Macquarie Bank raised its forecast for iron ore and coal pricesMacquarie Bank has released a summary of its recent commodity price forecasts, adjusted for factors both within and outside China. The bank has changed its forecasts for the next couple of years. “A large rise in prices for metallurgical and thermal coal is forecast for 2018-1919. An increase of…
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Results of the mining and metallurgical complex of Ukraine over the past yearIn 2017, the production of the mining and metallurgical complex was one of the lowest in the history of independent Ukraine. Steel production and rolled metal exports fell to historic lows. However, due to the rise in prices, the complex retained almost a third in the structure of Ukrainian…
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China iron ore hits a monthly lowIron ore futures in China fell to their weakest level in a month on Monday, as demand for steel raw materials remains weak from a global buyer, keeping stocks in their ports close to record levels. The timely arrival of goods in China was also due to the absence of disruptions to the leading…
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US aluminum producers' hopesThe growing confidence among American aluminum manufacturers is driven by automotive demand, not what President Donald Trump is planning in terms of trade policy. Novelis Inc., the largest manufacturer of flat-rolled products, announced last week that it plans to build a $ 300 million plant in…
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The US can indirectly influence the decisions of some EU countries in geopolitical issuesIn November, the European Commission presented a proposal to amend the EU gas directive, which should clearly state that subsea gas pipelines in the EU are subject to the so-called third energy package. This initiative could jeopardize the profitability of the Nord Stream 2 project. Some EU members…
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Copper is clearly growing alongside other base metalsCopper prices on the London Metal Exchange are rising by almost 1 percent. Higher interest in goods in the markets due to the low dollar prices at which, among other things, copper is valued. Metal on the LME in 3-month delivery was worth $ 7,108.50 a tonne after the opening of trading, but now it…
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Rebar and sheet steel prices rise in Northern EuropeThe rise in scrap prices contributed to the rise in rebar prices in Denmark in January. So far, the mild winter has enabled infrastructure projects to be carried out, which has led to a healthy consumption of rebar and sheet metal. The construction sector operates in Sweden without major weather…
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World steel production in 2017 will increase by 5.3%World steel production reached 1,691.2 million tonnes in 2017, up 5.3% from 2016. Steel output increased in all regions in 2017, with the exception of the CIS, where production remained unchanged. Annual production in Asia was 1,162.5 million tonnes of steel in 2017, an increase of 5.4% over 2016…
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