Metallurgy news

• 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

• Steel exports from China fell by 34% in March China shipped 4.95 million tons of finished steel overseas in March, down 34.4% from last year, although the year-on-year drop was due to a high base in March last year, according to the latest statistics from China's General Administration of Customs. published April 13th. In fact, last month's... 14.04.2022  10:23

• India expects increase in coking coal production after agreement with Australia Indian steelmakers are expecting uninterrupted coke supplies from Australia amid the recently signed Economic Cooperation and Trade Agreement (ECTA) between India and Australia. The agreement will eliminate the current 2.5% tariff on most coal imports, including coking coal, Callanish said. ECTA... 13.04.2022  09:32

• Biden signed into law a suspension of normal trade relations with Russia U.S. President Joe Biden signed into law late on April 8 a law suspending normal trade relations with Russia, a move that would raise tariffs at varying rates on U.S. steel products and other imports from Russia. Earlier, Congress passed legislation revoking Russia's trade status on April 7... 13.04.2022  09:29

• Steel and scrap prices in Asia remain high in the second quarter Prices for hot-rolled coil, rebar and ferrous scrap in Asia are likely to remain high in the second quarter after a sharp increase in the first quarter, as supply chains gradually recover and markets continue to factor in the impact of the Russian invasion of Ukraine. Suppliers in India, Japan... 13.04.2022  09:26

• The impact of the ban on Russian coal imports on the steel industry in the EU and the UK The European Union formally adopted its fifth round of sanctions against Russia on Friday, including a ban on coal imports. Existing contracts must be terminated by the second week of August, which means that until then Russia may continue to receive payments from the EU for coal... 12.04.2022  11:01

• Nippon Steel Blast Furnace No. 1 shut down Nippon Steel Corporation, Japan's largest steelmaker, said a furnace water leak could make it difficult to restart production or cut production by about one million tons of steel a year. In response, China Steel Corporation (CSC), Taiwan's largest carbon steel producer, said it has received the... 12.04.2022  10:58