Metallurgy news

• LME Bans Placement of Russian Nickel in UK Warehouses The London Metal Exchange this week banned the placement of Russian nickel in warehouses in the UK, unless the warehouse management proves that the metal was taken out of Russia before July 20. The move follows a decision in April to ban the placement of other Russian metals, including copper,... 21.08.2022  13:30

• Australia lifts duties on precision tubes from China and Korea The Australian Anti-Dumping Commission has exempted precision pipes and pipe steel imported from China and South Korea from anti-dumping measures. The exemption applies retroactively from 29 September 2021, when the final measures were originally introduced. The goods have Australian TN VED... 18.08.2022  13:10

• Vietnam is ready to discuss economic issues with the United States Vietnam stands ready to maintain frequent contact with the US to resolve emerging issues, a foreign ministry spokesman said on Thursday as the US officially launched an investigation into bypassing steel pipes imported from Vietnam. Speaking at the ministry's regular press briefing, spokeswoman... 18.08.2022  13:08

• China's Shandong will limit steel production in 22 at the level of 76 million tons East China's Shandong Province, the country's third-largest steel production center last year, aims to cap crude steel production in 2022 at about 76 million tonnes, slightly lower than last year's 76.49 million tonnes. Wang Xiao, Deputy Director of Shandong Province. "Development of industry and... 17.08.2022  10:57

• China's steel export sales remain weak Steel export sales in China remained weak this week as lower demand from overseas buyers continued unabated and export prices for Chinese-origin steel products continued to be considered uncompetitive, Mysteel Global learned. As of August 15, the export price of China-made 4.75mm (HRC) SS400 hot... 17.08.2022  10:54

• BHP's annual profit rises sharply amid rising commodity prices BHP's net income for the fiscal year ended June 30 was $30.9 billion, up 173% from $11.3 billion a year earlier. The Group posted a record underlying attributable income of $23.8 billion, up 39% year-on-year for total operations. The group's capital expenditure and exploration costs were... 17.08.2022  10:49

• New CCM with a capacity of 1.6 million tons of slabs per year is being built in Malaysia Eastern Steel, Malaysia, part of the Jianlong Group, has contracted with Danieli to supply a high-tech slab casting machine that will supply the country with high-quality products that are currently being imported. In fact, Slab CCM #2 will process a wide range of steel grades, including low... 15.08.2022  11:06

• Construction steel demand in China is likely to remain low until the end of 2022 Domestic demand for construction steel in China is forecast to remain subdued through the end of 2022, market participants told S&P Global Commodity Insights, with key excavator sales declining in July for the fourth straight month. China's domestic excavator sales fell 24.9% year-on-year to... 15.08.2022  11:03

• New technology promises to solve iron ore problem The development of a new, environmentally friendly steelmaking technology is helping to alleviate concerns about a predicted bottleneck in the iron ore supply chain. A new report from the Institute of Energy Economics and Financial Analysis (IEEFA), Solving Iron Ore Quality Challenges for Mild... 15.08.2022  11:02

• Falling prices and inflation - a "double blow" to the steel market in North America Deteriorating prices and demand, combined with inflationary pressure on production costs, is a "double whammy" for North American flat steel producers that distinguishes this downturn from previous crises, Stelco CEO Alan Kestenbaum said Aug. 11. “In addition to deteriorating prices and demand, o... 14.08.2022  11:06