Metallurgy news

• Vietnamese HRC market falls to 2020 low An alarming downturn in the Chinese steel market on Friday sent Vietnamese hot rolled coil to a new low. At the end of last week, Vietnam's hot-rolled steel import market fell by about 10%. Short-selling traders are offering Chinese-made 3-12mm HRC for as little as $560/tonne in Vietnam, Vietnam... 18.07.2022  10:12

• Eurofer urged to change plans to introduce hydrogen market in EU The European Steel Association Eurofer on July 15 called on the European Commission to develop a practical framework and timetable for a phased transition to the hydrogen market in the European Union, including extending the proposed transition period for its introduction until at least... 18.07.2022  10:08

• Steel production in China fell in June due to bad weather China's crude steel output fell 3.3% in June from a year earlier, according to the Bureau of Statistics, as bad weather in recent weeks affected construction activity. The world's largest steelmaker produced 90.73 million tons of the metal last month, according to data from the National Bureau... 18.07.2022  10:06

• World steel prices fall for the eighth time in a row Steel prices have fallen for the eighth consecutive time since mid-May, with an overall decline of nearly 13 percent. Largest steelmaker Hoa Phat Group slashed prices for rolled steel and rebar for the eighth time over the weekend, cutting prices by VND2.4 million ($102.61) since... 15.07.2022  11:34

• Steel production in Russia fell significantly in June The Russian Steel Association said that since the beginning of this year, the price of steel has decreased by 35%, while the cost of production has increased by 50%. In June, steel production in Russia fell by 20-50% year on year. Russia's iron and steel executives The Magnitogorsk Iron and... 14.07.2022  11:12

• U.S. inflation hits 40-year high in June US consumer prices accelerated 9.1% y/y in June, a four-decade high that surpassed most analysts' forecasts and supports the US Federal Reserve's current policy of sharply raising interest rates. The consumer price index (CPI) in June rose to the highest since November 1981, exceeding the annual... 14.07.2022  10:44

• Italian company Arvedi reaches zero CO2 target for steel production Acciaieria Arvedi, an Italian flat steel manufacturer, has become the first steel mill to be certified net carbon zero. The Net Zero CO2 Emission Certificate has been approved by a third party, Rina. He evaluated all direct and indirect manufacturing processes. Arvedi started investing in... 14.07.2022  10:29

• India allows international trade settlements in rupees The Reserve Bank of India (RBI) has allowed international trade settlements between India and other countries from July 11, including transactions with Russia and Sri Lanka, in rupees. The move is aimed at facilitating steel and coking coal deals between India and Russia, Callanish sources... 13.07.2022  10:56

• Brazil iron ore exports up in June Brazilian iron ore exports totaled about 32.1 million tons in June, up 26.4% from the previous month and down 4.3% year on year, according to the Brazilian Ministry of Economy. Among them, exports to China accounted for 69.8% of Brazil's total iron ore exports, from 22.41 million tons, up 42%... 13.07.2022  10:14

• HBIS to shut down blast furnace in Smederevo due to low demand HBIS Group Serbia Iron & Steel will shut down Blast Furnace #1 at its Smederevo plant due to low global demand for steel products, Callanish said. “Preparations for the closure of Blast Furnace #1 at HBIS Serbia are ongoing,” the spokesman said. “The reason for this is the global market situa... 12.07.2022  11:38