Metallurgy news

• Steel consumption in China remains stable this year China's gross domestic product (GDP) will grow by 6.5% in 2017, according to the metallurgical industry and the Planning Research Institute of China. Due to changes in the structure of China's industrial production and trends in the steel and commodity markets, as well as forecasts of China's... 10.03.2017  08:59

• Ukrainian blockade led to an increase in scrap prices There are currently two factors driving the rise in European scrap prices. First, scrap steel import prices rose again in March in Turkey, the largest consumer of scrap metal. Secondly, the price of pig iron has risen sharply due to the blockade of the Ukrainian railway system, which has increased... 09.03.2017  13:47

• Iron ore prices will remain high in the first half of 2017 Any major correction in iron ore prices will depend on what China's steel prices look like, as domestic steel prices in China soared to a new three-year high. Traders are optimistic about the outlook for the market in the near future, analysts say. Credit Suisse expects iron ore prices to remain... 09.03.2017  13:31

• Global stainless steel production up 10% in 2016 Total stainless steel production throughout 2016 was 44.900 Mt, up 10.2% from 40.744 Mt in 2015. Production in Western Europe rose 2.40% to 7.702 million tonnes year-over-year. The Eastern European Region recorded a 4.6% decline over the previous year, with production falling to 247,000... 09.03.2017  13:08

• Lack of demand contributes to the closure of Chinese shipyards The China Ocean Shipping (Group) Company plans to close three of the five shipyards. The reason is the overcapacity in the industry in the global market, canceled orders and delayed acceptance of ships by shipowners, the group's chief executive said. However, the company plans to continue... 09.03.2017  10:59

• Severstal Distribution increases profits In 2016, Severstal Distribution, a group with a network of warehouses in Russia, Ukraine, Belarus and European countries, increased its sales by 6 percent, to the level of 1,545 million tons. The volume of processed steel increased to 333,000 tons on an annualized basis. Despite its own... 07.03.2017  10:05

• China will increase military budget by 7 percent China's defense budget will increase by 7 percent in 2017, Chinese media announced after doubts about the transparency of military spending were raised in an annual report. This is the lowest growth in the Chinese defense budget in 10 years, which is associated with the weakening of economic... 07.03.2017  09:54

• ArcelorMittal and Marcegaglia want to acquire ILVA ArcelorMittal and Marcegaglia have confirmed their bid to acquire the Italian steel mill ILVA and have unveiled plans to increase production and invest more than € 2 billion. The companies announced that they intend to produce 9.5 million tonnes of finished products. Overall, for the purchase p... 07.03.2017  09:22

• US imposes new duties on steel imports from China The US International Trade Commission decided to introduce anti-dumping and countervailing duties on imports of carbon and alloy steel products; stainless steel sheet and strips made in China. The US International Trade Commission ruled that the aforementioned steel imports from China caused... 06.03.2017  10:30

• Vietnam extends import duties on slabs and long products According to the Vietnamese Ministry of Industry and Trade, the country will continue to implement tariff policy to protect domestic slab production over the long term. Vietnam will introduce 21.3% and 13.9% protective tariffs on imports of slabs and long products, respectively, from March 22,... 06.03.2017  10:19