Metallurgy news

• World Bank: global economic recovery will take 5 years The World Bank predicts that it will take up to five years to recover from the global economic crisis caused by the COVID-19 epidemic. The global economy could recover quickly when all controls are removed, but a full recovery could take up to five years. How long the COVID-19 recession will... 21.09.2020  11:56

• South Korean flat steel tariffs to affect Asian market South Korea has decided to conduct anti-dumping investigations against stainless flat steel from Taiwan, China and Indonesia. The conclusion was expected to be made within 10 months. Statistics showed that South Korea's share of stainless steel sheet imports from China, Indonesia and Taiwan is... 21.09.2020  11:53

• The Beloretsk Metallurgical Plant Mechel Receives the First Lot of Drawing Mills The Beloretsk Metallurgical Plant of the Mechel Group received four new drawing mills with a total cost of 220 million rubles. This equipment was purchased by the plant as part of the modernization of the cable-rope production. The mills are scheduled to start in the first quarter of 2021. Drawing... 21.09.2020  11:51

• Import prices for HRC in Europe are consolidating In recent weeks, offers from India have risen to € 490 /t (USD 579) for HRCs from Southern Europe. One trader notes that Turkish sources may sell at € 475-485 a tonne francs, but adds that the risk that anti-dumping measures will be confirmed soon is deterring buyers. Since June, prices for imp... 18.09.2020  12:22

• Who Benefits From Steel Export To China Rising steel prices in China have made exporting to the country “lucrative” for some foreign steel suppliers such as Ukraine and Russia, said Miller Wang, chief consultant at Wood Mackenzie. Indian Tata Steel also exports to China. Since April, it has more than doubled its exports. “Indian mills ... 18.09.2020  12:18

• Coronavirus Crisis Rebuilding Asia's Steel Leaders At the end of July, Vietnamese steel company Hoa Sen Group made an unexpected announcement: it was abandoning the construction of a $ 10 billion production complex. “The current objective situation is no longer in line with the original strategic goals,” the company said. The group originally pro... 18.09.2020  12:14

• Iranian steel exports continue to fall Iranian steel exports fell 29% year-on-year in the five months to August 21 to 2.96 million tonnes, despite continued production growth, the Iranian Steel Producers Association (ISPA) said. Production of crude and finished steel increased by 10% and 3%, respectively, to 11.82 million tonnes and 8.8... 17.09.2020  13:46

• China's steel sector is seeing a rise in demand, which requires curbing import growth Chinese steelmakers have offered to prevent a sharp increase in imports of industrial metals and reduce the purchase of steel scrap overseas, according to the China Iron and Steel Association (CISA). Nine steelmakers, including the largest China Baowu Steel Group, Shougang Group and Ansteel... 17.09.2020  13:43

• Celsa Group counts on government funding Spanish steel supplier Celsa Group is considering applying to a Spanish government aid fund to help overcome the impact of the Covid-19 crisis on its business. “The company is currently scrutinizing the conditions disclosed by the solvency fund and the possibility of using temporary government a... 17.09.2020  13:39

• ArcelorMittal Kryvyi Rih has chosen a contractor for the construction of a new pelletizing plant General Director of ArcelorMittal Kryvyi Rih Mauro Longobardi signed an agreement on the creation of a project and supply of equipment for the construction of a pelletizing plant with the management of Sinosteel (China). In the conditions of quarantine in the world, the solemn signing took place... 16.09.2020  09:39