Metallurgy news
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Positions of Ukraine in the global metallurgical marketAccording to Worldsteel, in 9 months of 2018, metallurgical enterprises of the world produced 994.94 million tons of pig iron, of which 932.41 million tons by blast furnace method and 62.53 million tons by direct reduction. This is 2.1% more than 974.48 million tons for the same period in 2017…
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World steel production up 4.4% in September 2018World steel production from 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes in September 2018, up 4.4% from September 2017. Global steel production was 1,347.0 Mt (1.3 Bt) in the first nine months of 2018, up 4.7% year-on-year. Asia produced 946.8 million…
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Eurofer continues to insist on steel quotas for certain countriesThe European Steel Association Eurofer continues to believe that the rolled metal quota system, created as a protective measure, should be country-oriented rather than general, as discussed at a seminar in Brussels. The quota system is in effect until February 2019, so the European Commission needs…
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Shanghai Steel Prices RiseThe value of rebar futures in Shanghai has risen substantially, supporting robust demand for the winter, when construction tends to slow in northern China due to tough conditions and pollution control regulations. Stocks of metal products at Chinese traders fell 370,000 tons to 10.3 million tons…
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The situation with steel imports in the EUCoil imports to Europe have continued to contract in recent months, but they may now approach the bottom of the current cycle, market sources say. HRCs from countries such as Turkey and Egypt can now be ordered at € 505-515 per tonne ($ 579-591 /t) cfr in Southern Europe, but further adjustments…
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South Korea expects strong demand for steel in the fourth quarterSouth Korean metallurgists expect steel demand to be solid during the fourth quarter amid lower production and demand in China. As a result, the largest manufacturer Posco is expected to post consolidated annual sales of $ 64.8 trillion ($ 57 billion), up from a previous estimate of 64.1 trillion…
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ArcelorMittal participates in asset trading with Essar SteelArcelorMittal, a multinational steel corporation headquartered in Luxembourg, has become the preferred buyer of Essar Steel's indebted assets in India. The Creditors Committee (CoC), which was tasked with issuing the authorization, announced that a joint venture between ArcelorMittal and Japan's…
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BASF and Nornickel team up to expand European battery productionGermany's BASF and Russian mining company Nornickel have entered into a deal to supply nickel and cobalt to meet the growing demand for electric vehicles (EV). Under BASF's new base plant in Finland, the agreement could provide new impetus for European plans to build battery production capacity for…
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Thyssenkrupp announces force majeure due to low waterwaysA severe drought led to a decrease in water levels on German rivers, which led Thyssenkrupp Steel to suspend production. The Rhine River Company, which supplies raw materials to the Duisburg plants, announced the termination of the supply of crude oil and scrap metal. "The supply of raw materials…
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Severstal is optimistic about future productionRussia's Severstal, one of the country's largest steelmakers, reported a 25% lower Q3 baseline profit year-on-year, albeit slightly below analysts' forecasts. The company's shares were stable during trading on the Moscow stock exchange. Earnings before interest, taxes, depreciation and amortization…
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