Zenith Steel Group Co. Ltd., one of the largest steel producers in China, has awarded SMS group the order to upgrade the existing wire rod mill at its Changzhou works in China to a combined wire rod mill. With this modernization, Zenith aims to widen its portfolio to include round bars and maximize the rolling […]
SMS group’s upgrade enables Zenith to enter the automotive and special steels markets Read More »
The Brazilian steel industry expects US President Joe Biden to review existing steel quotas imposed on Brazilian exports of finished steel products, a media report by Valor said. The industry’s expectation for relaxed restrictions comes as Biden plans to invest $2.3 trillion in infrastructure projects in the US. Marco Lopes, president at Brazilian steel association,
Brazilian steel industry expects Biden to review steel quotas Read More »
France’s economy will rebound less than previously expected this year due to the latest four-week nationwide lockdown aimed at halting a surge in coronavirus cases. French Finance Minister Bruno Le Maire cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. A Bloomberg survey in March showed economists
France cuts growth forecast as nationwide lockdown starts Read More »
In February this year, Japan’s iron and steel product exports amounted to 2.71 million metric tons, up 9.9 % month on month and decreasing by nine percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-February period this year, Japanese iron and steel product
Japan’s steel exports down 11% in Jan-Feb Read More »
China’s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers. as the country is hit by the novel coronavirus outbreak, in Hangzhou,
China’s factory activity growth lowest since April 2020 Read More »
Algeria and China signed a memorandum of understanding to exploit the largest iron mine in the country. The Algerian News Agency reported that a memorandum of understanding was signed between the National Iron and Steel Corporation “Feral” and a consortium of Chinese companies to exploit the iron mine in Gara Djbeilet (Tindouf State), in the
Algeria and China sign a MOU on the country’s largest iron mine Read More »
According to a new report issued by the China Iron and Steel Association (CISA), steel prices in the Chinese domestic market shifted from declines to rises in February following the Chinese New Year holiday. However, the rises slowed down in March, even indicating some downward corrections also. There are a number of factors that participants
Report: Factors affecting steel prices in China from down to up Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 27,657 mt in January 2021, up 25.9 percent from December and up 125.1 percent from January 2020 levels. By value, rebar exports totaled $18.5 million in January, compared to $14.2 million in the previous month and $8.4 million the same
US rebar exports up 25.9 percent in January Read More »
A Chinese-funded iron ore project in Sierra Leone on Saturday announced the commencement of its full-scale operation. The New Tonkolili Iron Ore Project, which is invested and operated by Kingho Investment Company Limited (Kingho), a Chinese-owned private company, started operation in September last year. The Chinese company’s Chief Executive Officer Zhao Ting said the project
Chinese-funded Sierra Leone iron ore project commences full-scale operation Read More »
In early March (March 1-10) this year, the average price in China of 16-25 mm HRB 400 rebar increased by RMB 55.2/mt ($8.5/mt) or 1.2 percent to RMB 4,672/mt ($719/mt) compared to prices in late February (February 21-28), as announced by China’s National Bureau of Statistics. In the given period, average prices of wire rod,
Local Chinese rebar prices up 1.2 percent in early March Read More »
China’s crude steel output rose 12.9% in the first two months of 2021 compared with a year earlier, as steel mills increased production in expectation of more robust demand from the construction and manufacturing sectors. China produced 174.99 million tonnes of crude steel in January and February, National Bureau of Statistics (NBS) data showed on
China’s crude steel output by 13% in January-February on firm demand outlook Read More »
Australian coking coal prices continued to drop in deals amid sufficient supply in the Asian market. Premium hard coking coal has decreased by $5/t to $118-120/t FOB this week. The Chinese market has been quiet amid strict environmental measures imposed on steelmakers in Tangshan, the main steel producing city in the country. No deals for
Coking coal falls further amid high supply Read More »
Brazilian miner and iron ore producer Vale said it expects to add 7 million mt of iron ore capacity at its Timbopeba mine. The company said it commenced the commissioning process of the mine, which should take two months. Afterward, the mine is expected to operate with a capacity of 12 million mt/year of iron
Vale adding 7 million mt of iron ore capacity Read More »
The German car manufacturer BMW intends to reduce carbon dioxide emissions in the production of steel used in the manufacture of its cars over the next ten years by two million tons. In order to achieve this goal, the company intends to invest in a carbon dioxide-free steel production process developed by the US startup
“BMW” intends to reduce carbon emissions in steel production Read More »
In February this year, Ukraine’s pig iron exports rose by 15.5 percent year on year to 189,000 mt, according to Ukrainian customs data. Meanwhile, in terms of value Ukraine’s pig iron exports in the given month increased by 57.1 percent year on year to $76.1 million. Overall, in the January-February period of the current year,
Ukraine’s pig iron exports up 15.5 % in February Read More »
The euro zone economy contracted less than expected in the fourth quarter of 2020 amid pandemic-induced lockdowns, initial EU estimates showed on Tuesday, but it is heading for another, probably steeper decline in the first quarter of this year. The European Union’s statistics office Eurostat said that according to its preliminary flash estimate, gross domestic
Euro zone fourth-quarter GDP falls less than expected Read More »
In the January-February period this year, China exported 10.14 million mt of finished steel, increasing by 29.9 percent year on year amid effective control of Covid-19 and recovering demand in overseas markets, as announced by the Chinese customs authorities on March 7. Slowing domestic demand in China in late 2020, when the majority of export
China’s steel exports surge by almost 30% to 10 million mt in Jan-Feb Read More »
Exports in dollar terms skyrocketed 154.9% in February compared with a year earlier, while imports gained 17.3%, the most since October 2018. The data did not include figures for January alone. In the January-February period, exports jumped 60.6% from a year earlier, when lockdowns to contain the pandemic paralysed the country’s economic activity. That exceeded
China February exports post record surge from COVID-19-depressed 2020 levels Read More »
Iron and steel industry experts in china suggest that importing more semi-finished steel (crude steel) like billets from countries including India, Indonesia, Russia and Germany is a potential solution to the plight that domestic steel supplies are insufficient to meet the surging demands as China seeks to cut carbon dioxide emission to achieve the carbon
Experts: China may increase imports of semi-finished steel to meet home demand Read More »
In a preliminary determination the Canada Border Services Agency (CBSA) on Feb. 4 found that steel reinforcing bars from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore and Vietnam were being dumped into the Canadian market. The CBSA established preliminary antidumping duties in the range of roughly 4%-28%. Provisional duties will now be payable on the subject
A Swedish company backed by investors, including the founder of Spotify, plans to build a steel production facility in the north of the country, which will be powered by what it describes as “the largest green hydrogen plant in the world.” H2 Green Steel, founded in 2020, will focus on producing steel made through a
Sweden plans to build the world’s largest green hydrogen plant Read More »
Brazilian miner and iron ore producer Vale went from a net loss of $ 1.5 billion in Q4 2019 to post a net profit of $ 739 million in Q4 2020, the company said this week while releasing its quarterly results. Vale said net revenues in Q4 2020 was $ 14.7 billion, 48.2 percent up,
Vale made a profit in Q4 2020 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.9 million tonnes (Mt) in January 2021, a 4.8% increase compared to January 2020. In Asia, China produced 90.2 Mt of crude steel in January 2021, an increase of 6.8% compared to January 2020. India produced 10.0 Mt of
World’s production of crude steel rose 4.8% in January 2021 Read More »
Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since iron ore prices hit a decade-low average of $55 per tonne in 2015, market analyst Fitch Solutions predicts in its latest industry report. Fitch forecasts global mine output growth to average 2.4% over 2021-2025
Global steel production to grow at 32% annual average until 2025 – report Read More »
Japan’s crude steel production in January decreased by 3.9% on year to about 7.92 million tonnes, or recording the 11th consecutive month that had posted an on-year decline, according to the latest data from the Japan Iron & Steel Federation (JISF) on February 22. Though it was 5.3% higher on month, suggesting that country’s steel
Japan’s January crude steel output falls 4% on year Read More »
German crude steel production rebounded in the first month of the year after the industry had faced COVID-19 consequences in 2020. In January, crude steel output moved up by 6% to almost 3.3 million t y-o-y, according to German Steel Federation (WV Stahl). While BOF steel production increased by 7% to 2.3 million t, EAF
Germany’s crude steel production up 6% in January Read More »
Brent crude prices increased during today’s trading, exceeding $ 65 for the first time in 13 months (since January 2020). Brent crude futures rose to the nearest maturity, today, by 0.85 percent, to trade at $ 64.9 a barrel. While the prices of West Texas Intermediate crude (WTI) (US) rose to the nearest maturity, by
Oil prices exceeds $ 65 for the first time in 13 months Read More »
Iron ore price spiked on the first working day in China after the Spring Festival celebration despite supply increase at ports and in the global market. Speculations on expected demand improvement in spring pushed both raw material and steel futures sharply up, boosting spot prices as well. Australian iron ore fines 62% Fe soared by
Iron ore soars to almost $175/t on on the first working day in China Read More »
Daily crude steel output among China’s 318 steel mills declined further to the lowest since late April 2020, or down 3% from January 21-31 to 2.77 million tonnes/day, mainly due to the temporary market quietness just days before the Chinese New Year (CNY) holiday over February 11-17. Some of 318 steel producers including 247 blast-furnace
China’s daily steel production hits to the lowest level in 9 months Read More »
South Korea’s steel production fell below 70 million metric tons for the first time in four years in 2020 as demand from carmakers, shipbuilders and construction firms plunged amid the COVID-19 pandemic, industry data showed Sunday. The country produced a total of 60.71 million metric tons of steel in 2020, ranking sixth in terms of
Korea’s steel output dips below 70 mln tons on pandemic Read More »