Metallurgy news
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Iron ore prices will remain high in the first half of 2017Any major correction in iron ore prices will depend on what China's steel prices look like, as domestic steel prices in China soared to a new three-year high. Traders are optimistic about the outlook for the market in the near future, analysts say. Credit Suisse expects iron ore prices to remain at…
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Global stainless steel production up 10% in 2016Total stainless steel production throughout 2016 was 44.900 Mt, up 10.2% from 40.744 Mt in 2015. Production in Western Europe rose 2.40% to 7.702 million tonnes year-over-year. The Eastern European Region recorded a 4.6% decline over the previous year, with production falling to 247,000 tonnes…
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Lack of demand contributes to the closure of Chinese shipyardsThe China Ocean Shipping (Group) Company plans to close three of the five shipyards. The reason is the overcapacity in the industry in the global market, canceled orders and delayed acceptance of ships by shipowners, the group's chief executive said. However, the company plans to continue producing…
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Severstal Distribution increases profitsIn 2016, Severstal Distribution, a group with a network of warehouses in Russia, Ukraine, Belarus and European countries, increased its sales by 6 percent, to the level of 1,545 million tons. The volume of processed steel increased to 333,000 tons on an annualized basis. Despite its own production…
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China will increase military budget by 7 percentChina's defense budget will increase by 7 percent in 2017, Chinese media announced after doubts about the transparency of military spending were raised in an annual report. This is the lowest growth in the Chinese defense budget in 10 years, which is associated with the weakening of economic…
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ArcelorMittal and Marcegaglia want to acquire ILVAArcelorMittal and Marcegaglia have confirmed their bid to acquire the Italian steel mill ILVA and have unveiled plans to increase production and invest more than € 2 billion. The companies announced that they intend to produce 9.5 million tonnes of finished products. Overall, for the purchase price…
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US imposes new duties on steel imports from ChinaThe US International Trade Commission decided to introduce anti-dumping and countervailing duties on imports of carbon and alloy steel products; stainless steel sheet and strips made in China. The US International Trade Commission ruled that the aforementioned steel imports from China caused…
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Vietnam extends import duties on slabs and long productsAccording to the Vietnamese Ministry of Industry and Trade, the country will continue to implement tariff policy to protect domestic slab production over the long term. Vietnam will introduce 21.3% and 13.9% protective tariffs on imports of slabs and long products, respectively, from March 22, 2017…
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Environmental standards are ahead of technological progress in many EU countriesEnvironment and sustainable development are the unshakable pillars of EU policy, which are reflected in limiting the amount of harmful emissions, especially in metallurgy and energy. Efficiency and competition are quite important, but above all environmental requirements are the main factors of…
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French Eramet Group sets up a joint venture with China's Tsinghan Holding GroupThe French Eramet Group and the Chinese Tsinghan Holding Group Co., Ltd. reached an agreement to establish a joint venture in India for the production of ferronickel. The company's annual production is approximately 30,000 tonnes and is equivalent to previous nickel production. At the same time…
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