Metallurgy news

• 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

• South Korean Dongkuk cut losses by selling business in China South Korean plate and bar maker Dongkuk Steel Mill has finally avoided years of losses at its coated sheet subsidiary in east China's Jiangsu province by selling 90% of its stake in Dongkuk Steel China (DKSC) to the local government of Jiangyin for Won. 97 billion ($73.6 million), the company... 22.08.2022  11:55

• US decides to impose duties on steel nails from 4 countries The U.S. Department of Commerce (USDOC) announced a positive final decision on countervailing duty (CVD) measures on steel nails originating in India, Oman, Sri Lanka and Turkey, and a negative final decision on a CVD order for the same products from Thailand. The subsidy rate for India has been... 21.08.2022  13:31

• 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