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News

China’s exports of finished steel products 25.7 million mt in 4 months

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, …

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Turkey’s billet imports up 117 percent in January-March, including two Arab countries

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 …

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EUROFER: Apparent steel use in EU to rebound in 2021 amid better demand

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 …

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Copper and iron ore prices hit record highs amid hopes for global recovery

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 …

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Iraq: The establishment of the first industrial city and the largest steel factory in Basra

The Basra Investment Commission – Iraq announced, on Wednesday (May 5, 2021) the inclusion of mega projects in the current year’s plan, the most prominent of which is the implementation of a large iron and steel factory, and the first industrial city to help employ thousands of unemployed. The semi-official Al-Sabah newspaper quoted the head …

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China’s steel sector records output and consumption growth in Q1 2021

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 …

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US rebar imports up 65.6% in March … 27,236 from Algeria

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 …

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Germany Ready to Spend $6 Billion to Clean Up Steel Production

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 …

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