Metallurgy news

• Eurofer continues to insist on steel quotas for certain countries The 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... 25.10.2018  10:23

• Shanghai Steel Prices Rise The 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... 24.10.2018  11:43

• The situation with steel imports in the EU Coil 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 ... 24.10.2018  11:29

• South Korea expects strong demand for steel in the fourth quarter South 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... 24.10.2018  11:18

• ArcelorMittal participates in asset trading with Essar Steel ArcelorMittal, 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... 23.10.2018  11:12

• BASF and Nornickel team up to expand European battery production Germany'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... 23.10.2018  11:01

• Thyssenkrupp announces force majeure due to low waterways A 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... 23.10.2018  10:51

• Severstal is optimistic about future production Russia'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... 22.10.2018  12:32

• In October, the profitability of the metallurgical enterprises of Turkey and China will fall S&P Global Platts predicts that operating margins at steel mills in China and Turkey, which fell in September, will fall further this month on stronger coal and iron ore costs. There has been a situation where higher prices for imported coking coal, while prices for Chinese HRC and rebar... 22.10.2018  12:21

• Chinese rescuers ready to free miners Chinese authorities sent rescuers to rescue miners trapped after a coal mine accident in eastern Shandong province late Saturday, according to Chinese state media. An explosion Saturday night destroyed part of a drainage tunnel at a coal mine, killing two and capturing another 20 workers, the... 22.10.2018  11:38