Metallurgy news

• Negative fragmentation of China's steel industry President of the Chinese Society of Metallurgists, Gang Yong, said the fragmentation of China's metallurgical sector is worsening as unplanned new capacity in small plants undermines the government's efforts to restructure and merge companies in a huge industry. Gang Yong said the trend is for... 16.10.2019  11:44

• IMF cuts global growth forecast to 10-year low In line with the global tightening of economic conditions, the International Monetary Fund (IMF) indicated that the latest forecast for global economic growth from October 15 showed that global economic growth this year will be 3%, which is the lowest since 2009. As a result, the IMF is cutting... 16.10.2019  10:29

• Turkish steel companies condemn Trump's tariff policy The Turkish Steel Manufacturers Association (TCUD) says it condemns the latest threat from US President Donald Trump to double the Article 232 tariff on Turkish steel to 50% and calls for retaliatory measures. Trump said he would do this in response to Turkey's military actions in Syria. TCUD... 16.10.2019  09:55

• Ezz Steel reports falling profits in the first half of 2019 Ezz Steel reported a sharp drop in revenues driven by a sustained fall in steel product prices and an increase in iron ore pellets. For the six months ended June 30, 2019, EBITDA declined 81% to EGP 659 million, while sales rose 2% to EGP 25.9 billion. This increase in sales was driven by an 8%... 15.10.2019  11:45

• Short-term forecast of the World Steel Association Steel demand in China will grow 7.8% to reach 900.1 million tons, according to the World Steel Association's Short Term Forecast (SRO) released today. The rest of the world is expected to grow 0.2% to 874.9 million tonnes. SRO predicts that steel demand in China will grow by 1%, while demand for... 15.10.2019  11:09

• Steel production in the USA is growing According to statistics from the American Iron and Steel Institute (AISI), for the week ended October 12, US steel production was about 1.82 million tonnes, up 0.9% from the same period a week ago, while declining by 3. 0% from the same period last year. Capacity utilization was 78.7%, up 0.7%... 15.10.2019  10:30

• Tangshan city in China diminishes steel production Steel mills in Tangshan City, Hebei Province have been ordered to continue to cut blast furnace production for environmental reasons until October. The daily losses in pig iron production for the remainder of October should be greater than during most of September, but some traders began to... 14.10.2019  12:26

• Turkish exporters of construction fittings avoid price increases Several Turkish factories have increased their quotations for rebar, despite the fact that there has been no improvement in demand in either the local or export market. The fittings are widely used in the construction sector to create durable concrete structures. In addition, the service life of... 11.10.2019  11:26

• Russian metallurgists in Europe increase their competitiveness NLMK's two subsidiaries in Denmark and Belgium continue to implement plans to improve their offerings to the end user. In Denmark, NLMK DanSteel of Frederiksvaerk launches its own steel service center, while in Belgium, NLMK La Louviére, a leading manufacturer of flat steel coils, is spending € 1... 11.10.2019  11:24

• Nippon Steel to suspend production at Kimitsu plant in anticipation of typhoon Nippon Steel announced that it will temporarily suspend production at one of its manufacturing bases in Kimitsu, Chiba Prefecture, in preparation for the upcoming Super Typhoon Hagibis. Nippon Steel will stop production at its Kimitsu plant. Gusty winds from the powerful Typhoon Faksai last... 11.10.2019  10:37