Metallurgy news

• Vietnam Steel Association predicts 35% decline in demand The country's steel outlook has deteriorated further as the number of coronavirus cases has doubled in the past four days, the Vietnam Steel Association said. The restrictions imposed by the government in response to the outbreak of the virus in the country have led to a significant slowdown in... 13.03.2020  10:05

• Jingye plans to add rebar to British Steel Following the acquisition of British Steel, China's Jingye Steel has outlined plans to invest in its new offshoot. Among other things, he intends to represent the production of valves in the British Steel portfolio. Jingye says she has pledged to invest £ 1.2bn ($ 1.55bn) "... to make the ... 12.03.2020  10:56

• Italian steel market weighs the impact of coronavirus The steel market in Italy, one of the countries hardest hit by the coronavirus, is quiet, prices are mostly stable, while market participants are assessing changes not only in the domestic market, but also in the rest of Europe, according to sources. Market sources indicated that the virus is... 12.03.2020  10:42

• Iranian Steel Growth Causes DRI Deficit Iranian steel production rose 10% year-on-year in the 11 months to Feb.19 to 25 million tonnes, according to a report from the Steel Producers Association of Iran (ISPA) published on its online portal Chilan. Billet production was 15.3 million tonnes and slab production was 9.6 million... 12.03.2020  10:33

• Steel shipments in the USA increased Steel shipments by US factories grew significantly during the first month of 2020. According to data published by the American Iron and Steel Institute (AISI), in January 2020, steel shipments amounted to 8,535,755 net tonnes. This is 6.4% more than in the previous month. American steel mills... 11.03.2020  09:50

• ArcelorMittal Raises the Coronavirus Flag The ArcelorMittal report says: “The exact impact of the Coronavirus is unknown, but it has had a negative impact on prices and spreads in China and may continue to have a negative impact if inventories at factories in China continue to rise, putting downward pressure on prices. While the Company ... 11.03.2020  09:15

• Tata Steel Europe will cut 1,250 jobs across Europe Tata Steel Europe CEO Henrik Adam said that job losses in Europe will be 1,250, not 3,000 as expected. In a letter to employees on Monday, Adam described the company's financial position as serious. He said: “There is an urgent priority to improve business performance and our cash position. The b... 11.03.2020  09:12

• China PMI drops to 36 in February due to coronavirus impact The CFLP Steel Logistics Professional Committee announced that the China Steel Purchasing Managers Index fell 10.5 basis points from January to 36.6 in February, as the coronavirus impacted refining demand, leading to an increase in finished steel inventories. The sub-index for steel production in... 10.03.2020  11:26

• Strong euro increases pressure on EU scrap exporters Scrap exporters Benelux started the week cautiously as the euro strengthened against the dollar. The scrap market in the region is quiet, with exporters waiting to assess exchange rate movements before buying or selling to export markets. Prices for HMS 1 & 2 80:20 further fell to 200-205 € /t f... 10.03.2020  11:02

• Chinese Jingye acquires British Steel Jingye Group, a private Chinese steelmaker, has completed its acquisitions of British Steel's assets in the UK and the Netherlands from British Steel's official successor and will expand the company's steelmaking capacity by moving to a steelmaking electric arc furnace at Teesside, Jingye announced... 10.03.2020  10:49