The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand […]
Coal Giants Are Making Mega Profits as Climate Crisis Grips the World Read More »
Oil prices fell on Monday, to near multi-month lows, after the recession hit demand and data pointed to a slow recovery in China’s imports of crude oil last month. Brent crude futures fell 74 cents, or 0.8%, to $94.18 a barrel by 03:30 GMT, and prices for the closest contract month recorded their lowest levels
Oil falls on fears of recession and slow recovery in China’s imports Read More »
On August 1, inventory of iron ore at 33 major Chinese ports amounted to 125.8565 million mt, up 3.43% compared to July 26, as announced by China’s Xinhua News Agency. Import iron ore prices moved up sharply in the given week. In the given week, deliveries of iron ore to users indicated declines, especially deliveries
China: Iron ore inventory at ports up 3.43% Read More »
Major Chinese steelmaker Baosteel has stated on an interactive platform with investors that it has cut its prices for carbon steel flat products for delivery in August amid declining steel prices in the spot market and more maintenance works being implemented by steelmakers. Though some raw material prices have also indicated obvious decreases, most steelmakers
Baosteel expects better situation for steel industry in September Read More »
India’s Directorate General for Trade Remedies (DGTR) has announced that it has extended the deadline of its antidumping (AD) duty investigation on electrogalvanized steel imported from South Korea, Japan and Singapore until July 27, 2022. The investigation was launched on June 28, 2021, upon the application lodged by local producer American Precoat Speciality Private Limited,
India extends AD probe on electrogalvanized steel from three countries Read More »
Imports of semi-finished steel to China dropped significantly in May, posting the lowest monthly level in the last 2.5 years. Moreover, the downtrend of semis imports seen in the first five months this year will continue in the coming three months, taking into account falling local prices in China and the slowdown of consumption due
China’s semi-finished steel imports fell to the lowest level in 30 months Read More »
In the January-May period of the current year, China’s exports of steel bars totaled 2.64 million mt, down 44.3 % year on year, while wire rod exports amounted to 0.82 million mt, down 9.0% year on year. At the same time, China’s export volumes of angles/channels came to 1.24 million mt in the given period,
China’s steel bar exports down 44.3% in January-May 2022 Read More »
Iron ore prices have fallen more than 7%, giving up all of their gains this year, with expectations that the domestic demand in China may decline. Iron ore consumption has been affected by the decline in the Chinese real estate market as the country faces the spread of the “Covid-19” virus. However, some optimism to
Iron ore prices fall by more than 7% as Chinese demand is expected to decline Read More »
In the January-May period of the current year, China’s outputs of pig iron, crude steel and finished steel amounted to 360.87 million mt, 435.02 million mt and 549.31 million mt, decreasing by 5.9 %, 8.7 % and 5.1 %, respectively, year on year, as announced by China’s National Bureau of Statistics (NBS). Though the production
China’s steel output down 8.7% in January-May 2022 Read More »
In April this year, domestic steel product consumption in Japan amounted to 4.05 million metric tons, down by 3.9% compared to March and by 6.8% year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-April period this year, domestic steel consumption in the country dropped
Japan’s domestic steel consumption down 4.4% in Jan-Apr 2022 Read More »
In April this year, Japan’s iron and steel product exports amounted to 2.73 million metric tons,dropping by 13.2% month on month and by 0.3 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-April period this year, Japanese iron and steel product exports amounted
Japan’s steel exports down 2.1% in Jan-Apr 2022 Read More »
Electro mobility and the transition to green energy are only possible with the development and application of highly efficient battery technologies. The nickel content of these high-performance batteries is steadily growing. Most of this nickel and nickel sulfate is produced by refining ferronickel, which is commonly produced in submerged arc furnaces. SMS group has received
The European Commission has announced an expiry review of the anti-dumping measures against imports of specific seamless pipes and tubes from China. The review was initiated based on the application submitted on February 10, 2022, by the European Steel Tube Association. The product in question consists of seamless tubes, seamless pipes and tubes of iron
EU starts expiry review of AD duties on ex-China seamless pipes Read More »
China’s steel consumption fell 5 percent year on year during the first quarter of the year (Q1) partly due to waning demand as the resurgence of domestic COVID-19 cases slowed down the construction of many projects. From January to March, steel consumption of the building industry dropped 7 percent from a year ago, while that
China’s steel consumption falls in Q1 Read More »
BMM Ispat selects the most-modern BF technology for its new ironmaking investment for the expansion of its steel plant in Danapur, Indian steel producer BMM Ispat awarded Danieli Corus a contract for a complete, 880,000 tpy blast furnace complex. The plant will be installed in an iron ore-rich area in India’s Karnataka state, where BMM
Danieli to supply BF complex to India’s BMM Ispat,with 880,000-TPY, Read More »
SMS group has been chosen by Jindal Stainless Limited to build a new blast furnace at their Kalinganagar unit in India. The blast furnace will have a production capacity of two million tons of hot metal per year. The plant will serve both existing downstream steelmaking facilities, as well as future ones. The contract for
SMS group secures order from Jindal Stainless Limited for a new blast furnace Read More »
In the January-March period this year, China’s apparent consumption volume of crude steel amounted to 235 million mt, down 9.5% year on year, according to the China Iron and Steel Association (CISA). In the first three months of the year, the steel consumption from major industries saw a year-on-year decline of 5%, with 7% decline
China’s apparent crude steel consumption down 9.5% in Q1 Read More »
Indian steelmaker Tata Steel has achieved its highest-ever crude steel production of 19.06 million mt in the fiscal year 2021-22, recording a growth of 13 percent year on year, a company statement said on Wednesday, April 6. Tata Steel’s deliveries of steel products during the fiscal year 2021-22 were reported at 18.277 million mt, up
Tata Steel achieves record crude steel production of 19.06 million mt in FY 21-22 Read More »
In February this year, Japanese ferrous scrap exports amounted to 512,866 mt, falling by 19.7% compared to 639,140 mt in the same month of the previous year, according to customs statistics. In the January-February period this year, the country exported 815,288 mt of scrap, falling by 28.4% year on year. During the given period, South
Japan’s steel scrap exports down 28.4% in Jan-Feb 2022 Read More »
The conflict between Russia and Ukraine, which are exporters of steel products, will have a huge impact on global steel demand and trade if it lasts for a long time, the head of a Japanese steel industry group said. “Even before the Ukraine crisis, we had faced three risk factors to dent steel demand —
Japan steel group : Russia-Ukraine conflict to have huge impact on global steel demand Read More »
In March this year, the purchasing managers index (PMI) for the Chinese steel sector was at 44.3%, down 3.0 percentage points compared to February, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP). In March, the production index for the Chinese steel sector
China’s steel sector PMI declines in March amid spread of Covid-19 Read More »
China imported 1,654,946 mt of semi-finished steel in the January-February period this year, including 729,059 mt of billet and 511,348 mt of slab, according to the data released by China’s General Administration of Customs on March 21. But for billets this volume is 18 percent lower than the same period last year, while for slabs
China’s semi-finished steel products imports slow in Jan-Feb 2022 Read More »
South Korea’s energy imports spiked more than 85 percent this year on soaring international prices, government data showed Monday, burdening the country’s trade balance and consumer inflation. The country’s imports of oil, natural gas and coal came to $38.49 billion from Jan. 1-March 20, up 85.4 percent from a year earlier, according to the data
S. Korea’s energy imports soar 85% this year Read More »
The price of iron ore rose on March 23, despite the decision by top steelmaking city Tangshan to implement a temporary lockdown. The Tangshan government implemented the lockdown on March 22 to avoid further cases of covid-19 as infections surged, the local government said in a statement. “Although consumption of steel products is relatively slow,
Iron ore price rises despite lockdown on China steel hub Read More »
In the January-February period this year, China’s rebar production totaled 34.818 million mt, down 13.8% year on year, according to China’s National Bureau of Statistics (NBS). Wire rod production amounted to 21.307 million mt in the given period, down 16.7% year on year. The Chinese New Year holiday and the Winter Olympics negatively affected production
China’s rebar output down 13.8% in January-February Read More »
China has set its GDP growth target for 2022 at around 5.5%. This was revealed by the Chinese Premier Li Keqiang while delivering the government workreport at the opening session of the fifth session of the thirteenth National People’s Congress(NPC) in Beijing. Other key development goals expected this year include creating more than 11 million
China sets GDP growth target of 5.5% Read More »
In January this year, Japan’s iron and steel product exports amounted to 2.39 million metric tons, down 14.9 percent month on month and decreasing by 2.9 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). Regarding Japan’s major iron and steel product export markets, in January
Japan’s steel exports down 2.9 percent in January Read More »
China Steel Corp, the largest steelmaker in the country, said on Feb. 19 that it would raise steel prices by 2.44 per cent for next month’s shipments as the domestic customer accelerated inventory build-up amid improving demand during the peak season. China Steel said in a statement that China’s Baowu Steel Group Ltd and Angang
China Steel to increase prices by 2.44% Read More »
The Biden administration reached a deal to partly lift tariffs that the Trump administration had imposed on the Japanese steel. The agreement, announced by the US trade officials on February 6, would preserve some protections for US metal makers by turning the current 25 per cent tariff on Japanese steel into a so-called tariff-rate quota,
U.S. and Japan strike a deal to roll back us steel tariffs Read More »
Another 34 steel firms in China were upgraded last year to achieve ultra-low emissions as the country stepped up efforts to achieve carbon goals, industrial data showed. These upgrades involved up to 225 million tonnes of steelmaking capacity, according to the China Iron and Steel Association (CISA). Even in 2021, 11 steel firms completed partial
Chinese steelmakers upgraded for ultra-low carbon emission Read More »