According to export data from the US Department of Commerce, US exports of hot rolled bar totaled 43,589 mt in March 2021, up 45.6 percent from February and up 52.3 percent from March 2020 levels. By value, hot rolled bar exports totaled $53.9 million in March, ompared to $35.2 million in the previous month and […]
US hot rolled bar exports up 45.6 percent in March Read More »
Brazilian steel mills continued to boost production in April. The sector remains focused on the domestic market, supplying volumes higher than in the pre-pandemic period. In April, Brazilian production of crude steel improved by 59% to 3.1 million t year-on-year, the highest since October 2018, according to the Brazilian Institute of Steel (Instituto Aco Brasil,
Brazil’s steel output highest since October 2018 Read More »
Iron ore price rebounded on Monday after plunging late last week, since latest official data indicated record steel output in China last month, and subsequently, high demand for the steelmaking ingredient. Australian iron ore fines 62% Fe surged by $8.5/t to $217.5/t CFR, though its futures on the DCE added just RMB 24.5/t ($3.8/t) from
Iron ore price recovers on record steel production in China Read More »
The rising prices of steel — which is widely used in sectors like construction, auto, consumer goods, etc — will not affect the demand in the domestic market, Tata Steel CEO and Managing Director T V Narendran has said. He also said that the current prices of steel in India are higher if compared with
Tata Steel CEO :Surging steel prices not to affect domestic demand Read More »
China will continue to limit new steel capacity in key areas amid efforts to accelerate industrial upgrading and control air pollution, the Ministry of Industry and Information Technology said. Efforts will be made to ensure that the country’s key areas for air pollution control will not see an increase in total steel capacity, the ministry
China caps new steel capacity in key areas for air pollution control Read More »
China’s robust steel market continues to push iron ore price to new heights. Moreover, the steelmaking ingredient will not come down from the current elevated level in the short term, analysts predict. Iron ore resumed its spectacular surge after just one day of a slight decrease, with the benchmark Australian iron ore fines 62% Fe
Iron ore approaches $240/t Read More »
Benxi Iron & Steel (Benxi), China, has issued the Final Acceptance Certificate to SMS group for the successful modernization of their 1,700-millimeter No. 1 hot-strip mill. The objective of this project was to bring the mill’s production capacity and the production range – by adding high-strength steels – up to the requirements of the hot-strip
In March this year, Turkey’s total hot rolled coil (HRC) exports increased by 272.7 percent to 219,709 metric tons compared to February and were up 51.1 percent year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $146.39 million, up 279.1 percent month on month,
Turkey’s HRC exports down 38% in January-March Read More »
In April this year, China exported 7.973 million mt of finished steel, up 5.71 percent month on month. The volume is 26.2 percent higher year on year, as announced by the Chinese customs authorities on May 7. China decided to lift the export tax rebates on 146 kinds of steel products as of May 1,
China’s exports of finished steel products 25.7 million mt in 4 months Read More »
In March this year, Turkey’s billet and bloom import volume decreased by 16.8 percent month on month to 339,166 mt, up by 163.3 percent year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $199.02 million, decreasing by 9.7 percent month on month and up
Turkey’s billet imports up 117 percent in January-March, including two Arab countries Read More »
Apparent steel consumption in the EU rose by 3.3 percent year on year in the fourth quarter last year, recording the first quarterly growth since the fourth quarter of 2019, and amounting to 35.2 million mt, according to the European Steel Association’s (EUROFER) latest Economic and Market Outlook. The full year of 2020 was considerably
EUROFER: Apparent steel use in EU to rebound in 2021 amid better demand Read More »
Copper (HG=F) and iron ore prices surged to record highs on Friday as hopes of a global economic recovery creates demand for raw materials. Spot iron ore broke $200 (£143) a tonne for the first time, while copper, which is seen as a bellwether of the health of the global economy, hit more than $10,200
Copper and iron ore prices hit record highs amid hopes for global recovery Read More »
A surge in steel consumption as the world emerges from its pandemic-induced slump is set to drive iron ore to an unprecedented high as the biggest miners struggle to keep up with the frenzied pace of demand. Expectations are building that benchmark prices can get to $200 a ton — topping the record $194 hit
Iron Ore’s Blistering Rally Sets Sights on $200 as Steel Booms Read More »
China’s steel sector saw output expansion in the first quarter of the year, according to the China Iron and Steel Association (CISA). In the January-March period, crude steel output rose 15.6 percent year on year to 271 million tonnes. The output was up 17.3 percent from the same period in 2019, bringing the average growth
China’s steel sector records output and consumption growth in Q1 2021 Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 128,343 mt in March 2021, up 65.6 percent from February and up 78.0 percent from March 2020 levels. By value, rebar imports totaled $69.9 million in March 2021, compared to $37.2 million in February and $36.1 million in March
US rebar imports up 65.6% in March … 27,236 from Algeria Read More »
Germany will spend an additional 5 billion euros ($6 billion) to slash emissions from the steel industry as it intensifies efforts to hit increasingly stringent climate goals. Europe’s biggest economy will spend the money to support steelmakers’ hydrogen production projects and other research programs, Economy Minister Peter Altmaier said Monday following a meeting with representatives
Germany Ready to Spend $6 Billion to Clean Up Steel Production Read More »
Export prices for Chinese wire rod surged this week as the government has officially announced that export tax rebates for most steel products, including wire rod, will be completely revoked from May 1. This week offers for Chinese low-carbon wire rod (6.5 mm, SAE1008) were in the range of $880-890/t FOB for July shipment, up
Chinese wire rod export prices shoot up on tax rebate cancellation Read More »
In March this year, Japan’s iron and steel product exports amounted to 3.15 million metric tons, up 16.5 percent month on month and decreasing by 9.6 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-March period this year, Japanese iron and steel product
Japan’s steel exports down 10.5 percent in Jan-Mar 2021 Read More »
According to preliminary census data from the US Department of Commerce, US imports of slab totaled 320,243 mt in March 2021, up 17.9 percent from February and up 1,443.4 percent from March 2020 levels. By value, slab imports totaled $198.1 million in March 2021, compared to $143.2 million in February and $8.6 million in March
US slab imports up 17.9 percent in March 2021 Read More »
Hyundai Steel, a major South Korean steelmaker, reported an increase in its net profit amid higher demand for steel, driven by the global economic recovery from the COVID-19 pandemic along with significant increase in selling price. The producer expects further rebound in steel demand this year. In Q1 2021, Hyundai Steel posted a net profit
Hyundai Steel posts net profit of $ 198 million on price uptrend Read More »
The Malaysian government has imposed anti-dumping duties on imports of cold rolled stainless steel in coil, sheet or any other form (subject merchandise) originating or exported from Indonesia and Vietnam. In a statement today, the Ministry of International Trade and Industry (MITI) said the anti-dumping duty for Indonesia is 8.8% to 34.82% and Vietnam 7.81%
Malaysia imposes anti-dumping duties on steel imports from Indonesia, Vietnam Read More »
According to a statement by the Turkish Steel Exporters’ Association (CIB), in the first quarter this year Turkey’s steel exports totaled 5.1 million mt, increasing by 1.9 percent, with a value of $3.8 billion, up by 22.5 percent, both year on year. In the first quarter this year, the main destinations of Turkey’s steel exports
Turkey’s steel exports value up to $ 3.8 billion in Q1 2021 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.2 million tonnes (Mt) in March 2021, a 15.2% increase compared to March 2020. Global crude steel production was 486.9 Mt in the first three months of 2021, up by 10.0% compared to the same period in 2020. China
China’s prices for imported iron ore have soared to 10-year highs in response to bullish market sentiment, with Mysteel SEADEX 62% Australian Fines, for example, hitting $187.85/dmt CFR Qingdao on April 20, a new record since March 2011. On April 20 too, the most-traded iron ore contract on the Dalian Commodity Exchange (DCE) for September
China iron ore price nears $190/dmt – a 10 year high Read More »
The European Union has extended tariffs on imports of iron and steel welded tubes and pipes from Belarus, China and Russia for five years, saying they are sold at unfairly low prices. The European Commission, which oversees trade policy for the 27 EU countries, said in the EU official journal on Monday that the duties
EU extends steel pipe tariffs for Belarus, China and Russia Read More »
Iron ore price resumed the increase on Monday in line with insiders’ forecasts. Strong demand and optimistic expectations for this year have pushed the raw material above $180/t CFR for the first time in almost ten years, despite the new round of production cuts that will start in Tangshan this week. Australian iron ore fines
Iron ore exceeds $180/t first time since 2011 Read More »
The World Steel Association (worldsteel) forecasts that steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020. In 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second or third waves of infections will
Steel demand grows 5.8% in 2021 Read More »
In the January-February period of this year, Turkey’s iron ore imports amounted to 1.67 million metric tons, up 39.3% year on year, while the revenue generated by these imports totaled $227.48 million, increasing by 87.4 % compared to the same period of 2020. In the given period, Turkey’s iron ore imports from Brazil stood at
Turkey’s iron ore imports up 39.3% in January-February Read More »
The Ministry of International Trade and Industry (MITI) of Malaysia will initiate a sunset review investigation on imports of cold rolled coil of alloy and non-alloy steel originating or exported from China, Korea and Vietnam. The current anti-dumping duties are slated to expire on 23 May. MITI received a petition for the review on 15
Malaysia reviews anti-dumping duties on CRC imports Read More »
China imported a total of 283.4 million tonnes of iron ore over January-March, higher by 21 million tonnes or by 8% compared with the first quarter last year, according to the latest statistics released by the country’s General Administration of Customs on April 13. The on-year growth in imports during the first quarter was partly
China’s Q1 iron ore imports up 8% on year Read More »