Metallurgy news

• Turkish steel mills considering shutdown Recently, market prices for energy and scrap metal have remained high, and the rise in steel prices in the Turkish domestic market and in world markets was still uncertain. In this situation, some Turkish long steel mills have begun to consider temporarily shutting down production. These Turkish... 26.08.2022  11:05

• China's steel production could remain low for months Although crude steel production in China recovered in August after falling for two consecutive months, by mid-August, steel inventories in China's main trading centers were still at a low level. Low steel production and inventory levels meant that Chinese steel producers and distributors were... 26.08.2022  09:59

• Power shortages may not affect steel supply in Europe much ArcelorMittal Chief Executive Officer Aditya Mittal said the energy crisis would only have a strong impact on end-user demand for steel, not supply. ArcelorMittal has indicated that the energy crisis will not stop its operations, although it may transfer some of its production from German plants to... 24.08.2022  12:15

• China exports slabs to Europe Like other Asian manufacturers, Chinese suppliers are rushing to export to the European market because it is profitable. “Now anyone who can sell steel to Europe will rush to do so,” says a trader from Jakarta. Last week, a Chinese plant sold a 40,000-ton shipment of labs to Europe at $855/ton FO... 24.08.2022  12:04

• Worldsteel: Global production of crude steel fell in July According to statistics from the World Steel Association (worldsteel), global production of crude steel in July this year amounted to 149.3 million tons, a decrease of 6.5% compared to the same month last year. Among them, Asian crude steel production reached 110.1 million tons, down 5.2% year... 24.08.2022  12:00

• German company Salzgitter hopes to get exemption from possible natural gas distribution measures As Gazprom cut natural gas supplies to Europe, major German steelmaker Salzgitter is in talks with the regulator, hoping to get exemptions from possible natural gas distribution measures. In July, Gazprom announced that due to force majeure, natural gas exported by the company to Europe via Nord... 23.08.2022  11:28

• Tokyo Steel cuts September sheet and rebar prices by $36-58/t Tokyo Steel Manufacturing, Japan's leading electric furnace steelmaker, has decided to lower list prices for coils, plates, square tubes and rebars by 5,000-8,000 yen/t ($36-58/t) for domestic sales in September to bring reported prices closer to actual market prices, the company said on Aug.... 23.08.2022  10:52

• Russian export prices for hot-rolled steel remain unchanged The Russian export market for hot rolled coil remains subdued due to weak demand from major importing regions, with offers hovering at $540-560/t FOB Black Sea over the past two weeks. Demand from Russia's main importing regions of hot-rolled steel, namely Egypt and Turkey, is extremely low due... 23.08.2022  10:49

• Hyundai Steel raises purchase prices for Japanese scrap metal The Korean steelmaker placed orders for Japanese H2 scrap on August 18 at 42,500 yen/t ($315/t) fob. The plant previously offered H2 scrap at 40,500 yen per tonne on July 21st. The steel mill also offered H1/H2 scrap at 43,000 yen per ton and crushed scrap at 47,000 yen per ton. Offer prices for... 22.08.2022  12:15

• Gas rationing could affect steel demand more than supply Potential gas rationing in Germany could threaten steel demand more than supply. German steelmaker ThyssenKrupp's main plant in Duisburg is somewhat self-sufficient in terms of gas supplies, though the company says "a minimum level of supply is necessary to sustain our production operations" and... 22.08.2022  12:14