According to export data from the US Department of Commerce, monthly steel exports in August 2021 increased 1.0% from July to total 692,649 mt. A year-on-year comparison shows a 31.1% increase. In terms of value, US steel exports in August totaled $1.12 billion, compared to $1.09 billion in July and $693.5 million in August 2020. […]
US steel exports up to 692,649 in August Read More »
US crude oil prices rose today, Wednesday, to their highest levels since 2014, amid global concerns about energy supplies on the back of signs of tight crude, natural gas and coal markets US
Oil prices continue to rise and US crude is at its highest level since 2014 Read More »
Spot energy prices in Japan soared to the highest level since February, as the crisis of intense competition for fuels abroad began to affect the country’s electricity market. According to Bloomberg news agency, electricity generation costs in Japan are rising with the price of natural gas and coal rising to a record level, due to
Energy prices in Japan at the highest level in 7 years Read More »
Malaysia’s new Prime Minister, Ismail Sabri Yaakob, announced the country’s goal of achieving carbon neutrality as early as 2050 and pledged to stop the construction of new coal-fired power plants. The government will replace coal power plants with gas power plants operating in Peninsular Malaysia to achieve cleaner power generation. Malaysia’s carbon neutrality measures also
Malaysia sets 2050 carbon neutral target Read More »
Rebar producers managed to increase exports by 82.4% to 639,874 t year-on-year in August, according to the Turkish Statistical Institute (TUIK). In January – August, Turkey’s exports of rebar increased by 38.2% and approached 5 million t, MENA region remained the key sales destination with a 33% share in the total exports, absorbing 1.6 million
Turkey’s exports of rebar reach 5 million in January – August Read More »
In August this year, Japan’s iron and steel product exports amounted to 2.95 million metric tons, down 3.5% month on month and up 14.0% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-August period this year, Japanese iron and steel product exports amounted to
Japan’s steel exports up 3.6% in January-August Read More »
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New Device and low-noise operation in plate turning from SMS group Read More »
In August, China’s export of steel bar amounted to 460,000 mt, down 9.8 percent month on month, but up 1.2 percent year on year. Wire rod and angles/channels production amounted to 170,000 mt both, down 7.2 percent and 2.0 percent year on year, almost remaining stable and down 19 percent month on month, respectively. In
China’s rebar export declines by 9.8 percent in August Read More »
The price of Brent crude oil jumped Tuesday above US$80 for the first time in almost three years on expectations for surging demand and concerns about supplies as the world slowly emerges from the pandemic crisis. With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have
Brent crude price jumps above US$80 a barrel , first time in almost three years Read More »
In August this year, Brazilian miner Vale’s iron ore export volume totaled 28.10 million mt, up 14.8 % compared to July and decreasing by 3.5 % compared to August 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the January-August period of the current year, Vale’s
Vale’s iron ore exports up 6.1% in January-August 2021 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.8 million tonnes (Mt) in August 2021, a 1.4% decrease compared to August 2020. China produced 83.2 Mt in August 2021, down 13.2% on August 2020. India produced 9.9 Mt, up 8.2%. Japan produced 7.9 Mt, up 22.9%. Crude
World crude steel production decreased by 1.4% in August 2021 Read More »
Oil prices recovered to touch their highest level in 3 years against the backdrop of low supply and a shortage of energy globally, especially natural gas, to meet the increasing demand for it, which makes resorting to Brent crude in power generation highly likely. A barrel of Brent crude for November delivery recorded $77.4, while
Oil prices reach $77.4, amid fears of low supply Read More »
The Brazilian ministries of foreign relations and economy jointly said this week the Gulf Cooperation Council (GCC) will not impose anti-dumping (AD) duties on steel imports from Brazil. Despite not disclosing specifically which steel products were under investigation, both ministries applauded the decision. “If imposed, the duties would have a negative impact over the Brazilian
Gulf Cooperation Council declines to impose duties on steel imports from Brazil Read More »
India has initiated a sunset review into extending anti-dumping duties on hot-rolled flat products of alloy or non-alloy steel imports originating in China, Japan, South Korea, Russia, Brazil, and Indonesia. Provisional anti-dumping duties were initially imposed in January 2017 and definitive anti-dumping duties in August 2016, valid up to December 2021. The Indian Steel Association
India eyes 6 countries HRC anti-dumping duty extension Read More »
Despite the temporary break in China’s iron ore and steel market trading activity due to the national holidays, indicative prices for the raw material slumped again amid further tightening of production cuts and mounting troubles in the country’s property sector. Iron ore futures in October contracts on the Singapore Exchange (SGX) fell by $8.43/t to
Iron ore falls to $93 – its lowest level in 16 months Read More »
According to final census data from the US Department of Commerce, US imports of wire rod totaled 99,004 mt in July 2021, down 10.5 percent from June but up 167.8 percent from July 2020 levels. By value, wire rod imports totaled $85.9 million in July 2021, compared to $87.9 million in June and $26.4 million
Egypt and Algeria lead Arab countries exporters of wire rod to US in July Read More »
Oil prices rose over $2 a barrel on Wednesday after government data showed a larger-than-expected drawdown in U.S. crude inventories, and on expectations demand will rise as vaccination roll-outs widen. U.S. crude oil stockpiles fell last week to the lowest since September 2019, the U.S. Energy Information Administration said, extending their drawdown after Hurricane Ida
Oil jumps to $75.5 after US inventories drop Read More »
The National Bureau of Statistics said crude steel production at 83.24 million tons in August was down 4.3% from July and down 13.2% from a year earlier. Average daily production decreased by 4% to 2.69 million tons/day from 2.8 million tons/day in July and by 14.1% from 3.13 million tons/day in June. January-August crude steel
China’s August crude steel output slumps with curbs Read More »
China’s iron ore producers aim to increase domestic iron ore concentrate output by more than 100 million tonnes between 2021 and 2025, an official with the country’s steel industry association said. Luo Tiejun, the vice-chairman of the China Iron and Steel Association (CISA) said, “It is hoped that the majority of big iron ore enterprises
China aims for iron ore output boost of 100 million tonnes by 2025 Read More »
Australian coking coal rose again to $355 per ton, rising to at least 7-year high on limited supply. A deal for 75,000 t of premium mid-volatile hard coking coal from Australia was reported at $355/t FOB for November laycan on the globalCOAL platform, according to insiders. The prices have jumped from $300/t FOB registered last
Coking coal price rises to $355, highest level in 7 years Read More »
The American Iron and Steel Institute (AISI) reported today that for the month of July 2021, US steel mills shipped 8,278,863 net tons, a 37.2 percent increase from the 6,035,596 net tons shipped in July 2020. Shipments were up 3.1 percent from the 8,031,516 net tons shipped in the previous month, June 2021. Shipments year-to-date
US steel mill shipments up 37.2 percent in July Read More »
The value of these imports totaled $167.49 million, increasing by 52.7 percent month on month and up by 164.6 percent year on year. In the January-July period of this year, Turkey’s billet import volume amounted to 2 million mt, increasing by 101.4 percent, while the value of these imports increased by 202.8 percent to $1.26
Algeria leads the Arab countries exporting billets to Turkey in January-July Read More »
The proposal, which U.S. officials were weighing last week, involves a tariff-rate-quota system, according to a person familiar with the situation who asked not to be identified because the discussions are private. Intensive talks are ongoing, according to European officials who declined to be identified. Tariff-rate quotas allow countries to export specified quantities of a
U.S. Moves Toward Ending Steel-Tariff Fight With Offer to EU Read More »
India’s JSW Limited achieved 1.377 million metric tons of crude steel production in August this year, an increase of 5% over the same month in the previous year. In August of this year, the company produced 899,000 metric tons of rolled products, down by 8% from the corresponding month of last year. “The production of
India’s JSW sees five percent increase in crude steel output in August Read More »
Export price for Australian coking coal has hit $300/t FOB for the first time in almost 5 years amid the continuous supply shortage from the country. A deal for 75,000 t of premium low-volatile Saraji brand hard coking coal was closed at $300/t FOB for November laycan on the globalCOAL platform, according to insiders. It
Coking coal at $300/t first time in 5 years Read More »
In August this year, China exported 5.053 million mt of finished steel, down 10.9 percent month on month due to the cancellation of the export tax rebate on CRC and HDG exports as of August 1 and ongoing fears over the possible introduction of export duty on flat steel products, which, however, has not happened
China’s steel exports keep falling month on month in August Read More »
Baoshan Iron & Steel Co Ltd (Baosteel), China’s biggest listed steelmaker, said on Wednesday it had signed an initial pact with the world’s top crude oil producer Saudi Aramco to study building a steel plate factory in Saudi Arabia. The nonbinding memorandum of understanding was one of a number of agreements state-controlled Aramco inked on
China’s Baosteel, Aramco ink pact on Saudi steel plate factory Read More »
In July this year, Turkey’s rebar exports amounted to 576,536 t, down by 13.5 per cent compared to June, and increased by 39.2 per cent year on year. The revenue generated by these exports totalled $390 million, decreased by 8.2 per cent compared to June, and up by 128.7 per cent year on year ,
Turkey’s rebar exports $2.49 billion in January to July Read More »
Iron ore resumed its dramatic plunge, falling by 7% on daily basis. Market pessimism grew amid steel output reduction and anticipated supply increase in China. Australian iron ore fines 62% Fe slumped by $10.25/t to $132/t CFR after its futures on the DCE nosedived by $9.8/t from Friday level, to RMB 723/t ($112/t), its lowest
Iron ore falls by $10/t on unstable market condition Read More »
Chinese iron ore futures plunged more than 8% on Wednesday, pulled down by sluggish spot market while restrictions on steel output across the country dashed prospects of restocking demand. “The September delivery (of iron ore) remains wide contango,” analysts with SinoSteel Futures wrote in a report, noting that price for the deliverable product Super Special
Iron ore futures plunge over 8% on lacklustre demand outlook Read More »