Metallurgy news

• ASEAN countries expect Ukrainian-Russian war to have short-term impact on steel trade The Southeast Asian Iron and Steel Institute (SEAISI) commented that the Ukrainian-Russian war could cause trade difficulties for the ASEAN region. Six ASEAN countries are net importers of semi-finished and finished steel products. Russia is one of the main sources of some semi-finished and... 24.05.2022  10:19

• Vallourec decides to close factories in France and Germany French steel pipe maker Vallourec mentioned in its first quarter financial report that it is reorganizing its European business structure and downsizing its organization to focus on European operations. The Group is closing the heat treatment line at Saint Solvay in France and the thread cutting... 24.05.2022  10:16

• Indian metallurgists furious over unexpected high export duties India's sudden and unexpected revision of export duties on steel products is likely to lead to short-term uncertainty and long-term structural ramifications in global steel markets, S&P Global Commodity Insights sources said May 23. The Ministry of Finance said that since May 22, India has... 24.05.2022  10:02

• Decarbonization of China is a costly task for the metals sector China's lofty ambitions of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060 have pushed major Chinese steelmakers to develop a greener production path as they increasingly show interest in developing direct reduced iron or DRI plants using hydrogen and natural gas. But... 23.05.2022  11:47

• The head of the German Finance Ministry spoke out against the confiscation of personal assets of Russians in favor of Ukraine German Finance Minister Christian Lindner told the Financial Times that he does not approve of the idea of ​​confiscating the personal assets of Russians to finance the restoration of Ukraine at their expense. “Lindner said he was opposed to the confiscation of the personal assets of Russian olig... 23.05.2022  11:44

• GAZ Foundry started mass production At the site of the Gorky Automobile Plant, serial production of products from the new foundry of the GAZ Group began. The Nizhny Novgorod foundry is the most modern site in Russia for the production of iron castings for engines and allows us to meet the needs of domestic engineering and other... 23.05.2022  11:41

• EU plans to invest 300 billion euros to reduce dependence on Russian energy The European Commission has published an investment plan totaling about 300 billion euros, hoping to reduce dependence on Russian fossil fuels through various initiatives over the next few years and seize the opportunity to accelerate the transition to clean energy. Currently, the EU imports... 23.05.2022  11:35

• Gold held at the Bank of England is trading at an unusually low price Bank of England gold is trading at a rare discount, a sign that central banks could lose some of their holdings. The Bank of England vaults hold 5,676 tons of bullion, one of the largest holdings in the world, which it holds on behalf of other central and commercial banks. Gold held by central... 21.05.2022  13:39

• Turkish steel production down According to the Turkish Iron and Steel Producers Association (TCUD), Turkey's steel production in March this year was 3.3 million tons, down almost 3% from the same month last year. The volume of production for the first three months amounted to 9.4 million tons, which is 4.7% less than a year... 20.05.2022  12:21

• Steel exports from India to remain high in the coming months India's steel exports will remain strong in the coming months as higher prices and regional demand force steel companies to export some of their output, according to Moody's Investors Service. In its report "Steel - Asia-Pacific: Higher Raw Material Costs Diminish Steel Price Benefit Amid... 20.05.2022  12:18