Metallurgy news

• Chinese steelmakers stem the decline in global steel production The latest data from Worldsteel shows that the decline in global crude steel production seen throughout 2022 reversed in September. Steelmakers produced a total of 151.7 million tons this month, up 3.7% from last September. This is the first annual increase recorded since August 2021. China The... 03.11.2022  10:40

• Nippon Steel raises profit forecast on higher margins Japan's Nippon Steel Corp raised its full-year net profit forecast by 12% this week, citing higher margins from higher prices and lower costs following restructuring and capacity cuts. Net income for the fiscal year ending March 31 is now forecast at a record 670 billion yen ($4.6 billion), up... 03.11.2022  10:30

• European Commission confirms anti-dumping duties for CRC for China and Russia The European Commission has confirmed the extension of EU anti-dumping duties on imports of cold-rolled steel (CRC) from China and Russia for another five years. This decision was the result of a review of the validity of the existing fees, launched in August last year after a formal request... 03.11.2022  10:28

• Steel prices in China may recover in November In September, China's average daily production of liquid steel was about 2.9 million tons, up 7.1% from the previous month. In October, the deficit of China's steel mills continued to increase, so they controlled production. At the same time, the average daily crude steel production in China ranged... 02.11.2022  10:17

• Tata Steel to decide whether to continue UK business following government response Tata Steel's UK operations employ around 8,000 people, including the UK's largest steel plant at Port Talbot in South Wales. The company wants £1.5bn from the UK government to implement its decarbonisation plans. Tata Steel is also seeking support from the UK government in two forms. Firstly, ... 02.11.2022  10:13

• Steel exports from Turkey to the Baltic countries increased due to EU sanctions against Russia The Turkish Steel Exporters Association (CIB) indicated that due to EU sanctions against Russia, steel exports from Turkey to the Baltic countries have increased. In the first nine months of this year, Turkish steel exports to Estonia and Latvia increased 4.9 times and 30% year-on-year to around... 02.11.2022  10:11

• China may be the only country accepting Russian metal Recently, Russia may face the problem of banning many Western countries from buying Russian metal. However, China could play an important role in buying Russian metals on the London Metal Exchange (LME), especially copper, nickel and aluminium. China expected to buy Russian metal at lower prices... 02.11.2022  10:07

• Ukrainian Metinvest operates at 30-50% capacity Due to disruptions in the supply chain caused by the war, Ukrainian Metinvest is operating at 30-50% of pre-war capacity. Production capacity could return to pre-war levels within six months or a year if the war ends. Yuriy Ryzhenkov, CEO of Metinvest, said it was hard to work during the war... 01.11.2022  10:33

• Indonesia plans to introduce an export duty on nickel pig iron The Indonesian government planned to adopt a nickel export tax policy in the third quarter of this year, but it has yet to be implemented. However, the news surfaced again last week. According to the agreement, the introduction of taxes on nickel pig iron (NPI) and ferronickel is a matter of... 01.11.2022  10:32

• Vale agrees to build a pellet plant in Saudi Arabia Saudi Arabia's National Industrial Development Center (NIDC) has signed a MoU with Vale to set up a 4 million tpa high quality iron ore pellet plant in the industrial city of Ras Al Khair. The site on the east coast of the kingdom will also have a logistics center. The investment is in line with... 01.11.2022  10:06