Oil prices fell by 6.5% at the end of trading on Tuesday, with Brent crude falling below $100 a barrel, with the release of the monthly OPEC report, and optimism about the Russian-Ukrainian talks. OPEC kept estimates of global oil demand and supply growth unchanged this year, but noted that the war in Ukraine was […]
Brent crude prices are down 6.5%… and Brent crude is less than $ 100 Read More »
According to the prices of the global steel markets, the scrap price reached 650$/tonne , Iron ore price was 154$/tonne , while the prices of billets ranged between 890 and 910 $/tonne, and the prices of rebar ranged between 940 and 980 $ / tonne. Prices for iron and steel products in Russia and Ukraine
Steel prices in the second week of March 2022 Read More »
The International Monetary Fund has warned that the dangerous global economic repercussions of the war in Ukraine will be “even more devastating” if the conflict escalates. Sanctions against Russia will have a “substantial impact on the global economy and financial markets, with side effects on other countries.” “At a time when the situation remains very
IMF warns of “devastating” economic repercussions of the escalation in Ukraine Read More »
According to the prices of the global steel markets, the scrap price reached 628$/tonne , Iron ore price was 153$/tonne , while the prices of billets ranged between 830 and 860$/tonne, and the prices of rebar ranged between 880 and 915$ / tonne. Prices for iron and steel products in Russia and Ukraine were not
Steel prices in first week of March 2022 Read More »
Brent crude futures rose more than 5 percent today, Wednesday, to $110.09 a barrel, the highest level since July 2014. The futures contracts for US light sweet crude, “West Texas Intermediate”, rose about 5.6 percent to reach $ 108.64 a barrel.
Oil prices exceed $110, the highest since July 2014 Read More »
Oil prices continued their upward trend, and Brent crude futures rose more than $7 to $105.07 a barrel. Oil prices in US crude futures also rose by more than $7, reaching $99.10 a barrel. Oil prices have crossed the $100 threshold since last Thursday, when Brent crude futures rose more than $4 to record $101.03
Brent futures rise above $105 a barrel Read More »
Shortfalls in OPEC+ production and spare capacity concerns are likely to keep the oil market tight and prices could hit $125 per barrel as early as the second quarter of this year, JP Morgan Global Equity Research said. “Supply undershoot set to rise through 2022 as OPEC+ unlikely to deviate from targeted quota increases –
Tight oil market could see prices hit $125, JP Morgan says Read More »
According to the prices of the global steel markets, the scrap price reached 507$/tonne , Iron ore price was 150$/tonne , while the prices of billets ranged between 675 and 710$/tonne, and the prices of rebar ranged between 740 and 780$ / tonne. The following prices of iron and steel in the global markets on
Steel prices in second week of February 2022 Read More »
According to the prices of the global steel markets, the scrap price reached 496$/tonne , Iron ore price was 145$/tonne , while the prices of billets ranged between 650 and 700$/tonne, and the prices of rebar ranged between 730 and 750$ / tonne. The following prices of iron and steel in the global markets on
Steel prices in first week of February 2022 Read More »
According to the prices of the global steel markets, the scrap price reached 469$/tonne , Iron ore price was 146$/tonne , while the prices of billets ranged between 640 and 700$/tonne, and the prices of rebar ranged between 710 and 750$ / tonne. The following prices of iron and steel in the global markets on
Steel prices in last week of January 2022 Read More »
The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery. In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 —
IMF cuts 2022 global growth forecast Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 158.7 million tonnes (Mt) in December 2021, a -3.0% decrease compared to December 2020. despite the decline in production in December, The world production of steel crude up by 3.6% compared to production in 2020. Crude steel production in
crude benchmarks rose for a fifth week in a row, gaining around 2% this week. Prices were up more than 10% so far this year on concerns over tightening supplies. Brent futures fell 49 cents, or 0.6%, to settle at $87.89 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, or 0.5%,
Oil climbs for 5th week on supply concerns Read More »
Global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand. Brent futures settled up $1.02, or 1.3%, at $80 a barrel, almost back
Oil Ends Up at $80/bbl as OPEC+ Sticks with Feb Output Hike Read More »
According to the prices of the global steel markets, the scrap price reached 462$/tonne , Iron ore price was 118$/tonne , while the prices of billets ranged between 585 and 640$/tonne, and the prices of rebar ranged between 695 and 725$ / tonne. The following prices of iron and steel in the global markets on
Steel prices at the beginning of 2022 Read More »
Oil prices rose on Thursday to extend several consecutive days of gains, buoyed by data showing U.S. fuel demand holding up well despite soaring Omicron coronavirus infections. Brent crude futures rose 17 cents, or 0.2%, to $79.40 a barrel at 0217 GMT, climbing for a fourth day in a row. U.S. West Texas Intermediate (WTI)
Oil rises as fuel demand holds Read More »
Ukraine has decided to raise the export duty on ferrous scrap from EUR 58/ton to EUR 180/ton. The new duty will be effective in early 2022. The government will spend around one month to enact the parliament’s decision. Ukrainian steelmakers’ association Ukrmetallurgprom expressed its concerns on soaring scrapexports in mid-2021 and asked Ukraine’s Deputy Prime
Ukraine raises export duty on ferrous scrap from EUR 58/ton to EUR 180/ton Read More »
Oil prices climbed by about 4% on Tuesday, extending the previous day’s almost 5% rebound on easing concerns over the impact of the Omicron coronavirus variant on global fuel demand. Brent crude futures were up $2.89, or 4%, at $75.97 a barrel by 12.36 pm ET (1736 GMT), having earlier touched a session high of
Oil prices rise 4% as easing concerns over impact of the Omicron coronavirus Read More »
In the January-October period of this year, Turkey’s rebar exports amounted to 6.17 million metric tons, up 39.6% year on year, while the revenue generated by these exports totaled $3.88 billion, increasing by 105.4% compared to the same period of 2020. In the given period ,Yemen was among the largest importers of rebar from Turkey,
Turkey’s rebar exports increase by 39.6% in January – October Read More »
China released a plan for the green development of its industrial sectors during the 14th Five-Year Plan period (2021-2025), a step forward in the country’s pursuit of low-carbon growth. By 2025, significant progress will have been made in the green and low-carbon transformation of China’s industrial structure and production, with technologies and equipment for green
China issues 5-year plan to boost green development of industrial sectors Read More »
According to the latest monthly Turkish Statistical Institute (TUIK) data, Turkish steel mills’ sections exports in the first nine months of the year totalled 1.59 million mt, up by 15.7% year on year Morocco was the top destination for Turkish sections in January-September at 106,700 mt, up by 17% on year, while exports to Malaysia
Turkey’s exports of steel Sections rise in Jan. – Sep. , Morocco top market Read More »
Thailand’s Committee of Dumping and Subsidy has announced final antidumping duty (AD) on hot rolled coil (HRC) imported from Vietnam and Egypt, for a period of five years. The final antidumping duties on the given products are at 24.38 percent for Vietnambased Formosa Ha Tinh Steel Corporation and 42.34 percent for other Vietnamese companies, while
Thailand issues final AD duty on HRC from Vietnam and Egypt Read More »
Indian steelmaker Tata Steel has drawn up plans to augment annual production from its captive iron ore mines to 45 million mt within the next five years from the current output of 30 million mt per year, a company official said. The higher annual iron ore production would come from the expansion of its operational
Tata Steel to ramp up iron ore output 50% within five years Read More »
Italy-based plantmaker Danieli has announced that it will supply two bloom casting machines to Chinese steelmakers Chengde Jianlong and Jiangsu Yonggang, to meet the growing demand for components required by the power-generation industry worldwide. The casters will be able to produce large round sections from 700 mm to 1,200 mm diameter, with total annual production
Danieli to supply two bloom casters to China Read More »
Aurubis AG and the SMS group, based in Düsseldorf, signed a contract today for the construction of a multimetal recycling plant in the United States. As Aurubis announced on November 10, construction of the new Aurubis recycling plant will start in mid-2022 in Augusta (Richmond County) in the state of Georgia. Upon commissioning (scheduled for
AURUBIS AND SMS TO COOPERATE IN CONSTRUCTION OF MULTIMETAL RECYCLING PLANT IN US Read More »
Oil prices recorded at the end of trading today, following the announcement of the new African mutation of Covid-19, as Brent crude lost 11%, recording $72.9 per barrel, and US crude lost more than 13% to trade below $69 per barrel, and this is the biggest loss for the oil markets in the last two
Oil drops 11% due to the new Covid-19 strain Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 14,166 mt in September 2021, down 36.2 percent from August and down 31.2 percent from September 2020 levels. By value, rebar exports totaled $15.1 million in September, compared to $23.2 million in the previous month and $13.1 million the same
US rebar exports down 36.2 percent in September Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 145.7 million tonnes (Mt) in October 2021, a 10.6% decrease compared to October 2020. China produced 71.6 Mt in October 2021, down 23.3% on October 2020. India produced 9.8 Mt, up 2.4%. Japan produced 8.2 Mt, up 14.3%. Crude
World crude steel production decreased by -10.6% in October 2021 Read More »
In October this year, Brazilian miner Vale’s iron ore export volume totaled 24.22 million mt, down 8.1% compared to September and decreasing by 8.2% compared to October 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the January-October period of the current year, Vale’s iron ore
Vale’s iron ore exports and sales rise in January-October Read More »
According to China’s National Bureau of Statistics (NBS), in the January-October period of the current year, China’s iron ore production amounted to 823.111 million mt, increasing by 11.5% year on year, 1.9% slower than the rise recorded in the first nine months this year. In October alone, iron ore production reached 80.127 million mt, down
China’s iron ore output up 11.5% in Jan-Oct Read More »