Metallurgy news

• China's steel imports hit 30-year low in 2022 In 2022, China's steel imports totaled 10.57 million tons, down 25.9% year-on-year, the lowest since 1993. High inflation and the energy crisis have led to the high cost of steel imports to China. Among them, Japan, South Korea and Indonesia were the main importers with a total of 7.92 million... 15.02.2023  12:22

• US Steel to supply General Motors with verdeX steel United States Steel Corporation will supply General Motors with its advanced solution called verdeX steel. Steel is produced with up to 75% less emissions than conventional blast furnace production, is produced with up to 90% recycled content and can be recycled endlessly without... 15.02.2023  12:17

• UK requests review of tariff quotas on steel from developing countries At the request of the UK industry, TRA will consider exemptions for developing countries for rebar, one of the steel categories covered by the UK steel safeguard measure. To make the review more efficient, TRA consulted with the industry on scaling up. The TRA review will now consider developing... 14.02.2023  11:01

• Export of wire rod from Turkey decreased According to the Turkish Statistical Institute (TUIK), Turkey's wire rod exports totaled 1.17 million tons in 2022, down 18% year on year. The export value was US$916 million, down 12% from last year. Among them, exports to Israel amounted to 280,000 tons, an increase of 2.5% over the previous... 14.02.2023  10:56

• Coking coal rises in price due to supply problems Coking coal prices rose sharply in Australia in the week ending February 10 due to supply problems amid rainy weather and a coal train derailment in Australia. Experts valued premium hard coking coal at $370.46/t free-on-board in Australia, up $22.38/t from $348.08/t the previous week. On the... 13.02.2023  11:54

• Russian metal accounts for a significant portion of LME reserves According to the London Metal Exchange (LME), Russian metal accounted for up to 42% of total reserves, which is about 153 thousand tons. Among them, Russian aluminum amounted to about 94,000 tons, accounting for 41% of LME reserves. Copper accounted for 94% with a volume of about 55,000 tons,... 13.02.2023  11:52

• Eurofer predicts lower steel demand in Europe in 2023 Steel demand in Europe was expected to decline in 2022 and remain that trend in 2023 due to weak performance in key steel-using sectors, but recover in 2024, regional steel association Eurofer said in a Q4 2022 report. H Eurofer expects apparent steel demand in the EU to decline by 4.6% in 2022... 10.02.2023  10:44

• ArcelorMittal Spain resumes ACB operations for one order ArcelorMittal says it is temporarily reopening its Acería Compacta de Bizkaia (ACB) plant in Sestao, northern Spain. Production will resume from February 11 to February 17 for one order. The plant produces hot-rolled, pickled and oiled coil in an electric arc furnace. "We're going to do a short ... 10.02.2023  10:39

• German company Salzgitter establishes low-carbon steel production Salzgitter Flachstahl GmbH, the rolling mill of German steel group Salzgitter AG, has signed a memorandum of understanding with Canada's Baffinland Iron Mines to explore the possibility of using direct-ship ore mined in Canada's Nunavut region in mild steel production. Both sides will choose... 09.02.2023  11:35

• India's Tata Steel reports third-quarter loss due to lower demand India's Tata Steel on Monday reported a quarterly profit loss from a year ago, caused by a sharp drop in global steel prices and lower demand amid fears of a likely slowdown in economic growth. Consolidated losses of the steel plant for the three months to December 31 amounted to 25.02 billion... 08.02.2023  09:34