Metallurgy news

• Iron ore rose to $150 On Monday, the government set 2030 as a new peak emission deadline for the sector, down from an earlier target of 2025. “This is a big schedule adjustment that gives the steel sector more room to achieve peak emissions in an orderly manner,” said Xu Xiangchun, an analyst at research firm Mys... 09.02.2022  13:54

• US and Japan replace Section 232 with import tariff quotas The US and Japan reached an agreement on tariffs on steel imports on January 7, effective April 1, replacing Section 232 tariffs with a quota system. While the Section 232 tariffs include steel and aluminium, the deal only covers steel. The agreement allows duty-free imports of Japanese steel... 09.02.2022  13:52

• Severstal invests in new low-carbon hydrogen technology Severstal announced that it will invest in Ekona Power Inc., a Canadian developer of hydrogen production technology, at the expense of American Baker Hughes. Ekona Power has developed a new hydrogen production technology by methane pyrolysis, which converts natural gas into hydrogen and solid... 09.02.2022  13:49

• Demand for stainless steel sheet in Europe falls The base price of cold rolled stainless steel sheet in the European Region declined last week due to lower demand. Currently, product offerings on the market still seem to be insufficient. Delivery of the latest orders should start at least from June or July of this year. However, with several... 08.02.2022  12:44

• Turkish flat steel prices rise due to strong demand and higher costs Last week prices for most of the Turkish flat steel market continued to rise as strong demand supported the price level. Meanwhile, a power outage has just brought Turkish electric furnace factories to a three-day shutdown. Along with rising energy costs, steel prices in Turkey have risen almost... 08.02.2022  12:39

• Steel decarbonization gains momentum Last week's announcement of more than 6 Mtpa of new direct reduced iron (DRI) production capacity and five new electric arc furnaces (EAFs) by the early 2030s shows that conditions are becoming increasingly favorable for low carbon steel production . By 2033, the German steelmaker Salzgitter... 08.02.2022  12:36

• Steel consumption in India fell in January, exports rose According to JPC, consumption of finished steel in April-January rose by 14.2% to 86.3 million tons, while production over the same period jumped by 20.5% to 92.82 million tons. Crude steel output rose just 0.3% year-on-year in January and fell 1.1% month-on-month to 10.3 million tonnes. Pig... 07.02.2022  10:22

• Slab prices in the CIS rise in a scarce market While slab trading in the CIS remains subdued, sales to southern Europe and Turkey pushed prices back up last week, with new offerings expected at even higher levels, Callanishu market participants said. Russian slabs were sold to Turkey at US$710/tonne francs, which equates to around... 07.02.2022  10:18

• British Parliament to develop plan to decarbonise metallurgy The industry directly employs 33,700 people, with another 42,000 people involved in supply chains. The UK House of Commons Environmental Audit Committee has announced that it will conduct a study on Green Steel. "Steel is a critical material in the UK's drive to reduce carbon emissions: it is... 04.02.2022  11:54

• Interpipe paid almost UAH 3 billion in taxes and fees in 2021 During 2021, the Ukrainian industrial company Interpipe transferred UAH 2.96 billion to the budgets of all levels and extra-budgetary funds. Compared to 2020, the volume of tax deductions increased by 17%, which is mainly due to an increase in the production of finished goods. Contributions to... 04.02.2022  11:26