According to the provisional foreign trade, statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretaries of Customs, Turkey’s iron and steel imports value increased by 95.2% year on year, totalling $2.60 billion. Iron and steel ranked second among the most imported products of the country in terms of value in July this […]
Turkey’s steel import value up 85.6% in January-July Read More »
In July this year, Japan’s iron and steel product exports amounted to 3.06 million metric tons, down 1.0 % month on month and up 22.8 % year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-July period this year, Japanese iron and steel product exports
Japan’s steel exports up 2.2 % in January-July Read More »
According to export data from the US Department of Commerce, US exports of drawn wire totaled 6,024 mt in June 2021, down 1.9 percent from May but up 24.4 percent from June 2020 levels. By Value, drawn wire exports totaled $14.8 million in June, compared to $14.9 million in the previous month and $10.2 million
US drawn wire exports down 1.9 percent in June Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.7 million tonnes (Mt) in July 2021, a 3.3% increase compared to July 2020. China produced 86.8 Mt in June 2021, down -8.4% on July 2020. India produced 9.8 Mt, up 13.3%. Japan produced 8.0 Mt, up 32.5%. Crude
World crude steel production increased by 3.3 % in July 2021 Read More »
In July this year, China’s rebar and wire rod outputs totaled 21.019 million mt and 13.516 million mt, down 12.5 % and 8.2 % year on year, while declining by 15.1 % and 4.83 percent month on month, respectively, according to China’s National Bureau of Statistics (NBS). Local rebar prices in China indicated an overall
China’s rebar output declines by 12.5 % in July Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 24,981 mt in June 2021, up 20.3 % from May and up 35.8 % from June 2020 levels. By value, rebar exports totaled $22.3 million in June, compared to $18.7 million in the previous month and $12.1 million the same
US rebar exports up 20.3 % in June Read More »
Mexico’s economy secretariat, SE, has extended existing anti-dumping (AD) duties over the imports of Chinese non-alloyed and boron-added CRC for another five years. SE said Baoshan Iron & Steel Co will continue paying a 65.99 percent AD tariff, while Steel Group Co. will pay an 82.08 percent levy. Beijing Shougang Cold Rolling Co. Ltd., Shougang
Mexico extends duties on Chinese CRC for five more years Read More »
Australian steelmaker BlueScope Steel has posted a net profit of A$1.19 billion ($875.45 million) for the full financial year 2020-21 ended on June 30, compared to a net profit of A$96.5 million in the previous financial year. The company attributed the increase in its net profit to the higher underlying EBIT. The company’s sales revenues
China’s major steel mills saw their average daily output of crude steel skid 4.4 percent year on year to about 2.04 million tonnes in early August, according to the China Iron and Steel Association. The country reported the first year-on-year contraction in crude steel output in late July since the start of 2021, eyeing a
China’s daily crude steel output down 4.4 pct in early August Read More »
According to export data from the US Department of Commerce, monthly steel exports in June 2021 increased 4.9 percent from May to total 705,578 mt. A year-on-year comparison shows a 74.6 percent increase. In terms of value, US steel exports in June totaled $1.09 billion, compared to $1.04 billion in May and $565.2 million in
US steel exports up 4.9 percent in June Read More »
Iron ore resumed plunging on Monday amid weak import data, indicating that production cuts in China are affecting demand. Australian iron ore fines 62% fell by $7.5/t to $163.25/t CFR, the lowest since late March, following an RMB 42.5/t ($6.6/t) decrease in January contracts on the DCE. The lasting demand weakness was still keeping the
Iron ore falls below $165/t on weak demand in China Read More »
In June this year, Turkey’s total hot rolled coil (HRC) exports decreased by 32.3% to 168,545 metric tons compared to May and were down 45.2% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $148.02 million, down 25.4% month on month, while increasing by
Turkey’s HRC exports down 27.2% in H1 2021 Read More »
The European Commission says it has started an expiry review on existing anti-dumping duties on Chinese and Russian cold rolled coil. The review, requested by Eurofer, will determine whether to extend the duties beyond their natural ending. The provisional measures were put in place in February 2016, with definitive duties confirmed in August 2016. Russian
EU starts Chinese, Russian CRC anti-dumping duty review Read More »
In June this year, Turkey’s rebar exports amounted to 681,787 metric tons, up 1.1 percent compared to May and increasing by 42.4 percent year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). The revenue generated by these exports totaled $433.47 million, increasing by 3.0 percent compared to May and
Turkey’s rebar exports increase by 34.7% in H1 2021 Read More »
SMS supplies world-first greenfield e-scrap recycling plant for precious metals to ecopolis The new plant will recycle electrical and electronic scrap for the recovery of high-purity copper, nickel, gold, silver, and platinum. Following a multi-month commissioning phase, SMS group has handed over a greenfield recycling plant for waste electrical and electronic equipment (WEEE) to Aurus
The Brazilian Chamber of Foreign Trade started a review of the antidumping duty (AD) order on seamless pipes from China due to its expiry this July. The step is aimed to determine whether the extinction of the antidumping duty on imports of non-alloyed carbon steel tubes, without seam, with circular section and an external diameter
Brazil to review anti-dumping duties on seamless pipe imports from China Read More »
In the first six months of the current year, Chinese steelmakers which are members of the China Iron and Steel Association (CISA) posted an aggregate gross profit of RMB 226.8 billion ($35.1 billion), up 2.2-fold year on year, as stated by Shen Bin, chairman of the CISA. In the first half this year, CISA-member steelmakers
Profits of China’s steel companies up in H1 2021 Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in June this year the value of Turkey’s iron and steel imports increased by 84.6% year on year, totaling $2.23 billion. In June, iron and steel ranked in third place among the most imported products
Turkey’s steel import up 83.8% in H1 2021 Read More »
ArcelorMittal, the world’s largest steelmaker, profited from the continued economic recovery from the COVID-19 pandemic to report its highest quarterly earnings in 13 years, beating expectations, and announced a new share buyback. The Luxembourg-based company also said on Thursday it had raised its forecast for the growth in global steel consumption this year to 7.5-8.5%
ArcelorMittal has best quarter in 13 years on strong steel demand Read More »
Iron ore slumped to its two-month low since prevailing pessimism in market moods continued to put pressure on the raw material price. Australian iron ore fines 62% Fe dipped by huge $12.5/t to $182/t CFR after its futures on the DCE plunged by RMB 87.5/t ($13.5/t) to RMB 1027/t ($159/t). Iron ore prices in both
Iron ore falls to $182 per ton, lowest in two months Read More »
Australia’s major miner Rio Tinto has achieved bright financial results in the first half of 2021, supported by a surge of raw materials prices, mainly those for iron ore. “Rio Tinto managed to increase underlying EBITDA and underlying earnings by as much as 118% and 156% to $21.04 billion and $12.17 billion t respectively in
Rio Tinto’s financial results shine in H1 2021 as iron ore price spikes Read More »
hina will raise export tariffs for pig iron and ferrochrome, and remove export tax rebates for 23 steel products from Aug. 1, the second adjustment in three months as it seeks to ensure domestic supply while controlling output to curb emissions. Export tariffs for high-purity pig iron will be lifted to 20% from 15%, and
China raises export tariffs for some steel products again in green push Read More »
Iron ore resumed sliding after a short break amid more temporary production cuts in Tangshan city, higher supply and renewed trade tensions between China and US. Australian iron ore fines 62% dropped by $2/t to $199/t CFR, falling below $200/t CFR for the first time since May 31. Spot prices followed a RMB 27/t ($4.2/t)
Iron ore below $200/t as market weakens in China Read More »
The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections. The divergence is based largely on better access to COVID-19 vaccines and continued fiscal support in advanced economies, while
IMF raises growth forecasts for rich nations, dims outlook for developing world Read More »
Russian scrap export activity is extremely low in late June due to the holidays in Turkey. Turkish companies put scrap imports on hold due to religious holidays. As a result, A3 indicatives are the same as last week at $485/t CFR ($436/t FOB) Turkey for shipments from St. Petersburg and $475-480/t CFR ($429-435/t FOB) from
Export prices for Russian scrap stable Read More »
Outokumpu has selected SMS group to supply a powder atomizing plant for the production of high-quality metal powder for use in additive man¬ufacturing. For SMS group this plant is the first one worldwide that has been contracted to the subscription model. The mutual agreement paves the way for a long-term and partnership-based cooperation and to
The Indian government has listed six state-run steel plants, including Rashtriya Ispat Nigam Limited (RINL), for sale, according to the finance ministry. The ministry confirms that no state steel plant has been sold during the last five years. The disinvestment of central public sector enterprises (CPSEs), including steel plants, was guided by the new public
Indian government lists six state-owned steelmakers for sale Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 167.9 million tonnes (Mt) in June 2021, a 11.6% increase compared to June 2020. China produced 93.9 Mt in June 2021, up 1.5% on June 2020. India produced 9.4 Mt, up 21.4%. Japan produced 8.1 Mt, up 44.4%. In
World crude steel production increased by 14.4% in H1 2021 Read More »
The price of natural gas futures rose during Thursday’s trading, supported by expectations of a decline in the supply of crude and following US inventory data. Natural gas succeeded in exceeding $4 per million British thermal units during trading for the first time since December 2018, after falling earlier after data showed US inventories rose
Price of natural gas exceeds $4 for the first time since December 2018 Read More »
Brazil’s iron ore exports in the first half of 2021 rose 15% year-on-year, according to data released Brazilian Mining Institute IBRAM. The institute said that Brazilian iron ore exports in H1 this year amounted to 167.1 million mt, an increase of 15% compared to same period of 2020, which amounted to 145.4 million mt. In
Brazil’s iron ore exports rise 15% in the first half of 2021 Read More »