Metallurgy news

• The price of iron ore is rising Iron ore prices rose as investors awaited the Chinese government's move to lift the economy, which is suffering from a recent spike in Covid-19 cases. The 62% iron benchmark fine imported to northern China changed hands at $152.25 a ton during morning trading, up 1.06% from Wednesday's close,... 17.04.2022  10:11

• Russian-Ukrainian war led to a shortage of steel in Finland The Finnish construction industry is experiencing unprecedented hardship due to the war in Ukraine. According to the Finnish Construction Industry Confederation, about a quarter of the steel used in Finland comes from Russia, Ukraine and Belarus. Not only the construction sector, the shortage... 16.04.2022  11:16

• SSAB Americas raises plate prices SSAB Americas has announced a $60 per tonne price increase for long products for US customers. In addition, the company has decided to raise the price of the same product by about US$55/t for customers in Canada. It became known that the price increase took effect immediately with new orders.... 16.04.2022  11:14

• Rinat Akhmetov's Metinvest will donate 900 tons of steel for the manufacture of body armor for the Armed Forces of Ukraine The Metinvest Group of Rinat Akhmetov and Vadim Novinsky will donate 900 tons of steel, which will be enough to produce about 80,000 body armor for the Armed Forces of Ukraine and terrorist defense. This was reported in the press service of the group on Friday, April 14. Another 10,000... 15.04.2022  11:36

• Beijing announces additional measures to stabilize the economy According to a government statement released late Wednesday, the Chinese State Council's cabinet meeting on Wednesday announced a series of new measures aimed at stabilizing the economy, including stimulating consumption, supporting foreign trade and reducing the reserve ratio of commercial... 15.04.2022  11:22

• Japanese steelmakers raise prices Japan's biggest steel producers are raising prices for the metal used in everything from cars to skyscrapers and are warning there's more to come. According to a company spokesman, the steel division of JFE Holdings Inc. will raise prices for all products by 20,000 yen ($160) per tonne from... 15.04.2022  11:20

• The World Steel Association expects a slight increase in steel demand this year The World Steel Association (worldsteel) today released its short-term outlook (SRO) for 2022 and 2023. Worldsteel forecasts steel demand to grow by 0.4% in 2022 to reach 1,840.2 Mt after a 2.7% increase in 2021. In 2023, steel demand will rise to see a further increase of 2.2% to 1,881.4 Mt. The... 15.04.2022  11:18

• Baosteel keeps May prices unchanged Baosteel, a major steel mill in China, has announced that prices for May will remain unchanged. Under the influence of the Russian-Ukrainian war, prices for raw materials remained at a high level. Due to the current epidemic in China, restrictions are in place in many cities, and the price of... 14.04.2022  10:33

• POSCO to cut production of hot rolled steel South Korean steelmaker POSCO has scheduled maintenance plans for its hot rolling mills in Pohang and Gwangyang, and the planned work will be carried out from mid-April to early May, which will result in production losses for POSCO and reduce the supply of hot rolling. - market of rolled... 14.04.2022  10:30

• Steel demand in India will grow by 7-8% in the 23rd fiscal Revenues for the domestic steel industry for the next 12 months ending FY23 are expected to remain strong despite pressure on production costs, resulting in some slowdown in earnings compared to the FY2022 top. With rising steel prices partially offsetting rising coal and energy prices, ICRA... 14.04.2022  10:26