The American Iron and Steel Institute (AISI) reported that the US exported 7,987,038 net tons in May, an increase of 1.8% compared to April 2021 exports of 7,845,008 tons, and up 46.2% from the 5,461,851 net tons shipped in May 2020. Exports in January-May 2021 to 37,938,360 net tons, an increase of 7.8% compared to […]
US steel exports rose 7.8% in January-May Read More »
Export prices for Australian coking coal increased again amid limited volumes available for August laycan, though trading activity is expected to soften soon as Asian customers have almost finished restocking. Premium hard coking coal was traded at $210/t FOB this week, $3/t higher than last week level. A 75,000 t cargo of low-volatile material was
Coking coal rises to $210/t Read More »
Iron ore prices moved up on Thursday amid some bullish expectations in the market caused with the recently announced economic data on Q2. However, iron ore consumption is likely to be reduced in the near future. Trading is in lull after the price increase. Australian fines 62% Fe added $2.5/t over the day reaching $218.75/t
Iron ore up $2.5/t, but trading slows down Read More »
China Baowu Steel Group surpassed the Luxembourg-based steelmaking giant ArcelorMittal to become the world’s largest steelmaker by volume in 2020, the first Chinese enterprise that tops the list of global steel makers, according to a recent report by Nikkei Asia. Baowu’s crude steel production surged 21 percent to 115.29 million tons last year, driven partly
China’s Baowu becomes world’s largest steelmaker Read More »
In June this year, China exported 6.458 million mt of finished steel, up 74.5 % year on year, while rising by 22.5 % month on month, as announced by the Chinese customs authorities on July 13. After weak sales in the March-April period amid the tax rebate policy uncertainty, Chinese sellers became more active in
China’s steel exports surge by 74.5% in June Read More »
In June this year, Vietnam’s steel exports amounted to 1.02 million mt, up 4.3 percent compared to May, according to the data published by Vietnam’s General Department of Customs. In the January-June period this year, Vietnam’s steel exports increased by 50.5 percent year on year to 5.88 million mt. Vietnam’s main steel export markets Countries
Vietnam’s steel exports increase by 50.5 percent in H1 2021 Read More »
According to a statement published in the country’s Official Gazette, Turkey has imposed an antidumping duty (AD) on imports of stainless pipes from Vietnam. During the review period from September 1, 2019, to December 31, 2019, Vietnamese stainless pipe producers were found to have made sales of the given products at less than normal value.
Turkey imposes AD on stainless pipe from Vietnam Read More »
EU member states formally approved on Tuesday recovery plans submitted by 12 countries — including France, Italy and Spain — while doubts hang over the proposal from Hungary. The European Union is gradually rolling out its 750 billion euro recovery plan and this green light means that the dozen countries can receive the first instalment
EU Approves Economic Recovery Plans From 12 Countries Read More »
According to the latest figures from the US International Trade Commission, US iron and steel scrap exports totaled 2,029,311 mt in May 2021, a 24.5 percent increase month – on – month and a 41.6 percent increase year-on-year. Mexico was the largest recipient of US iron and scrap exports in May with 331,738 mt, up
US scrap iron exports exceed 2 million mt in May Read More »
In May this year, Turkey’s cold rolled coil (CRC) imports decreased by 38.7% compared to April to 48,133 mt, down 4.3% compared to May 2020. The value of these imports was $42.30 million, decreasing by 29.0% compared to April and up 51.1% year on year. Meanwhile, in the first five months of this year, Turkey’s
Turkey’s CRC imports down 9.8% in January-May Read More »
Australian coking coal exporters continued to push their prices higher amid limited available volumes and stronger demand in SE Asia, while Russian suppliers man-aged to sign a contract with Chinese buyers this week. Premium hard coking coal surged by $7-9/t to $207/t FOB compared to the last week range, “We seen increasing demand in SE
Coking coal rises further on limited supply, higher demand Read More »
The European Commission has announced that the definitive antidumping (AD) duty on hot rolled flat products of iron, non-alloy or other alloy steel (HRC) imports from Turkey is effective as of July 5 this year. The Commission announced definitive antidumping duties on the given product from Turkey in April and stated that the duties would
EU’s definitive AD duties on HRC from Turkey come into force as of July 5 Read More »
According to the data provided by the Turkish Statistical Institute (TUIK), in May this year Turkey’s hot rolled coil (HRC) imports increased by 197.8 % year on year to 528,063 metric tons, up 26.8 % compared to April. The revenue from these imports amounted to $418.65 million, up 36.5 % month on month and increasing
Turkey’s HRC import volume up 70.5 % in January-May Read More »
In the January-May period of this year, Turkey’s billet import volume amounted to 1.63 million mt, increasing by 178.3 percent, while the value of these imports increased by 272.3 percent to $946.37 million, both year on year. In the given period, Turkey imported 911,732 mt of billet and bloom from Russia, up 180.36 percent year
Turkey’s billet imports up 178.3 percent in January-May, including three Arab countries Read More »
In May this year, Turkey’s rebar exports amounted to 686,425 metric tons, up 9.0% compared to April and increasing by 132.4% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). The revenue generated by these exports totaled $428.31 million, increasing by 12.9% compared to April and up 249.1% year
Turkey’s rebar exports increase by 33.6,Yemen tops of Arab countries Read More »
Container freight prices rose to record levels about 18 months after the outbreak of the Covid pandemic, which disrupted supply chains and increased demand for sea freight very dramatically. “We’re basically short on empty ships and containers,” Alan Murphy, president of consultancy Sea Intelligence, told AFP. “There is a huge shortage of empty containers, they
In May this year, Turkey’s scrap imports continued to increase both month on month and year on year. The import volume in May alone came to 2,029 million mt, up approximately 23 percent month on month, according to the data provided by the Turkish Steel Producers’ Association (TCUD). EU maintained its number one position among
Turkey’s scrap imports in May up 23 percent Read More »
Despite the COVID-19 pandemic that was declared towards the beginning of 2020, MIDREX® Plants produced 65.7 million tons in 2020, 3.0% less than the 67.7 million tons produced in 2019. The production for 2020 was calculated from the 35.5 million tons confirmed by MIDREX Plants located outside of Iran and the 30.2 million tons for
Report : MIDREX direct reduction technology and Arab steel mills Read More »
The Green Climate Fund (GCF), the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved $500 million in funding for new projects and programs, according to Seoul’s finance ministry Sunday. During a virtual meeting held from June 28 to July 2, the GCF’s board discussed new funding and
GCF board endorses $500 million for new projects to support climate action Read More »
British Steel has unveiled another new product for the construction market – weathering steel structural sections. Self-protecting, durable and attractive, weathering steel is ideal for a whole range of outdoor structures in exposed locations including bridges, buildings and catenary gantries on railway lines. The steel’s corrosion rate is so low that structures fabricated from unpainted
British Steel launches weathering steel structural sections for construction market Read More »
Iron ore price continued to improve gradually on Thursday amid larger trading volumes and optimistic short-term demand forecasts, though port inventories slightly increased. Australian iron ore fines 62% Fe climbed by $2.5/t to $216.5/t CFR, while both its futures on the DCE and steel tags remained mostly stable on daily basis. The rise was supported
Iron ore rise supported by improved trade, expected restrictions ease Read More »
A group of some of the world’s most powerful oil producers agreed on Tuesday to continue gradually easing production cuts amid a rebound in oil prices. OPEC and its oil-producing allies, known as OPEC+, will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the
Oil jumps to two-year high as OPEC and allies reconfirm gradual production increase Read More »
In April this year, Japan’s iron and steel product exports amounted to 2.74 million metric tons, down 13.2 percent month on month and decreasing by 3.6 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
Japan’s steel exports down 8.9 percent in Jan-Apr Read More »
The Indian government has announced that antidumping (AD) duties on certain steel products have been extended until December 2021, a government official said on Wednesday, June 30, citing official notifications issued by the Central Board of Indirect Taxes (CBITC). According to the CBITC, AD duties on hot rolled alloy and non-alloy steel imported from China,
India extends AD duties on certain steel imports until December 15 Read More »
More steel producers in North and East China have been imposed on restrictive measures their daily production for pollution control during the celebration of the centenary of the Communist Party of China (CPC) on July 1. Steel mills in North China’s Shanxi province, also a major steel producing hub neighbouring Hebei and Beijing have been
More steel mills curb production ahead CPC centenary Read More »
NUCOR-JFE STEEL MEXICO has granted SMS group the final acceptance certificate (FAC) for the new continuous galvanizing line built in Silao, Mexico. SMS group supplied the plant and was responsible for engineering and technology as well as electrical and automation systems. The hot-dip galvanizing line is designed for 400,000 tons of hot and cold rolled
Final acceptance granted for new hot-dip galvanizing line from SMS Group Read More »
Russia’s Prime Minister Mikhail Mishustin signed a resolution on 23 June to increase the export duties on ferrous scrap to 5%, but no less than €70/t ($84/t), up from the current duty of 5pc, but no less than €45/t. The increased duty will take effect within 30 days of publication and will be in effect
Russia confirms €70/t duty on ferrous scrap exports Read More »
In May this year, Brazilian miner Vale’s iron ore export volume totaled 22.33 million mt, up 13.2 percent compared to April and increasing by 15.6 percent compared to May 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and BaseMetals (Sinferbase). In the January-May period of the current year, Vale’s iron
Vale’s iron ore exports up 13.1 percent in January-May Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in May 2021 decreased 4.8 % from April to total 2,280,949 mt. A year-on-year comparison shows a 38.8% increase. In terms of value, US steel imports in May totaled $2.44 billion, compared to $2.40 billion in April and $1.42 billion
US steel imports down 4.8% in May Read More »
Russia plans to impose temporary export taxes on ferrous and non-ferrous metals starting August as a means to compensate costlier steel products for state projects. Apart from the base 15% rate, there will be an individual component for every commodity. On June 24, the Ministry of Economic Development of Russia proposed a temporary 15% export
Russia to impose 15% export tax on ferrous and non-ferrous metals on August 1 Read More »