Metallurgy news

• China leads the world in growth in scrap steel consumption Higher emission standards for China's steel industry continued to drive the use of scrap steel in the country for steel production in the first six months of 2019. According to statistics from the World Scrap Recycling Association, the consumption of ferrous scrap in China increased... 18.10.2019  10:06

• US manufacturers lose on Canadian welded pipe duty increase Many US manufacturers have been unable to continue their legitimate bid to raise US duties on large diameter welded pipes from Canada after they lost in court. The contested administrative decision is a large diameter welded pipe from Canada: Final Affirmative Determination of Sub-Fair Sales, 84... 18.10.2019  09:38

• World Steel Association selects new members for 2019-2020 The World Steel Association Board of Directors elected the next new officers for 2019/2020 at the World General Assembly in Monterrey. New officials are elected for a period of one year. Chairman - Yoo Yoon, Chairman, HBIS Group Co Ltd. Vice Chairman - Sajan Jindal, Chairman and Managing... 17.10.2019  10:36

• UK and EU await new Brexit agreement According to the results of yesterday's meeting between the UK and the EU, the deal was almost complete, and today both sides could reach a final deal, which was also backed by the French president. Negotiations will continue today, and if the new deal fails to gain support from home, Boris... 17.10.2019  10:34

• Turkey is ready to take revenge on the United States Trump ends up sending a trade team to negotiate with Turkey, but the situation remains tense. After the US announced a new sanction against Turkey this Wednesday (October 16), the Turkish government also responded to revenge, the situation was rather tense. After that, Donald Trump decided... 17.10.2019  10:11

• Negative fragmentation of China's steel industry President of the Chinese Society of Metallurgists, Gang Yong, said the fragmentation of China's metallurgical sector is worsening as unplanned new capacity in small plants undermines the government's efforts to restructure and merge companies in a huge industry. Gang Yong said the trend is for... 16.10.2019  11:44

• IMF cuts global growth forecast to 10-year low In line with the global tightening of economic conditions, the International Monetary Fund (IMF) indicated that the latest forecast for global economic growth from October 15 showed that global economic growth this year will be 3%, which is the lowest since 2009. As a result, the IMF is cutting... 16.10.2019  10:29

• Turkish steel companies condemn Trump's tariff policy The Turkish Steel Manufacturers Association (TCUD) says it condemns the latest threat from US President Donald Trump to double the Article 232 tariff on Turkish steel to 50% and calls for retaliatory measures. Trump said he would do this in response to Turkey's military actions in Syria. TCUD... 16.10.2019  09:55

• Ezz Steel reports falling profits in the first half of 2019 Ezz Steel reported a sharp drop in revenues driven by a sustained fall in steel product prices and an increase in iron ore pellets. For the six months ended June 30, 2019, EBITDA declined 81% to EGP 659 million, while sales rose 2% to EGP 25.9 billion. This increase in sales was driven by an 8%... 15.10.2019  11:45

• Short-term forecast of the World Steel Association Steel demand in China will grow 7.8% to reach 900.1 million tons, according to the World Steel Association's Short Term Forecast (SRO) released today. The rest of the world is expected to grow 0.2% to 874.9 million tonnes. SRO predicts that steel demand in China will grow by 1%, while demand for... 15.10.2019  11:09