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Asia

Japan’s steel exports up 2.6% in January-October 2023

In October this year, Japan’s iron and steel product exports amounted to 2.7 million metric tons, increasing by 1.4 % month on month and increasing by 8.6% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-October period this year, Japanese iron and steel product …

Japan’s steel exports up 2.6% in January-October 2023 Read More »

POSCO plans to produce all steel using hydrogen by 2050

South Korean steelmaker POSCO plans to complete the commercialization of its HyREX , and by 2050, switch its steel mills in Pohang and Gwangyang to steel production based entirely on hydrogen reduction technology. The company will use green hydrogen using HyREX technology to produce direct reduced iron (DRI) for electric arc furnaces. The steelmaker is …

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China’s steel exports increased by 34.8% in January-October 2023

The decline in domestic demand and the decline in the prices of domestic steel products compared to other exporting countries led local producers to resort to exporting abroad, which helped increase the volume of China’s exports of steel products during the period January-October 2023. In the period from January to October 2023, China exported about …

China’s steel exports increased by 34.8% in January-October 2023 Read More »

Iron ore prices exceed $130 per ton for the first time since March

Iron ore prices rose on Wednesday’s trading, as a result of improved prospects for Chinese demand for steel following circulating news about Beijing’s intention to launch a new spending package to support the faltering real estate sector. Bloomberg published a report stating that the Chinese government plans to provide low-cost financing worth at least one …

Iron ore prices exceed $130 per ton for the first time since March Read More »

China claims 33% of new shipbuilding orders in global market in October 2023

In October this year, China attracted 33 percent of new shipbuilding (shipbuilding) orders (820,000 CGT) in the global market, while South Korea claimed a 62 percent share (1.54 million CGT), according to the data issued by Clarksons, the world’s leading provider of integrated shipping services. In October, 2.49 million CGT of new shipbuilding orders were …

China claims 33% of new shipbuilding orders in global market in October 2023 Read More »

China’s daily steel mill production fell by 3.15% in late September

The China Iron and Steel Association – CISA – announced that in late September (21-30) this year, the average total daily crude steel production of large and medium-sized steel enterprises in China reached 2.0664 million tonnes, down 3.15% compared to mid-September (11-20) of the current year. In mid-September, the average daily total crude steel production …

China’s daily steel mill production fell by 3.15% in late September Read More »

Indian company Tata Steel announces sales of 4.82 million tonnes during July-September 2023

The Indian company Tata Steel announced sales of 4.82 million tonnes in the second quarter (July-September) of the fiscal year 2023-2024, a decrease of 2% year-on-year, according to a company statement on Monday, October 9. The company said that sales in Thailand and Europe reached 1.79 million tonnes, down four per cent year-on-year. Tata Steel’s …

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South Korea’s imports of rebar decreased from January to August 2023

According to statistics, South Korea’s imports of rebar amounted to about 342,900 tons during the first eight months of this year, a decrease of 21% compared to the same period last year. Among these imports, imports from China accounted for the largest share at 53.7%, with an annual increase of 20.3% to about 184 thousand …

South Korea’s imports of rebar decreased from January to August 2023 Read More »

China’s cast iron production increased from January to August by 3.7% year-on-year

Cast iron production rose by more than the 2.6% increase in the country’s crude steel production. Iron ore production was generally down compared to July, with some steel mills in northern China produced less than their maximum capacity as they resumed idle furnace operations in early August. Authorities in the northern Chinese of Tangshan ordered …

China’s cast iron production increased from January to August by 3.7% year-on-year Read More »

China’s top smelting province to cut output in several industries in clean air push

BEIJING (Reuters) – Cities in China’s eastern province of Anhui are issuing plans to curb production in the steelmaking, non-ferrous smelting, cement and coal-fired power sectors over the coming winter in a drive to meet a politically crucial air pollution target. Anhui, a key non-ferrous smelting province, took the initiative to curb output even though …

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Japan’s Osaka Steel to set up environmentally friendly EAF at Sakai plant

Japan-based steelmaker Osaka Steel, a subsidiary of Nippon Steel, has announced that it will make an investment of about JPY 8.7 billion ($59.02 million) to install a new electric arc furnace at its Sakai plant, aiming to save energy and cut its carbon footprint. The electric arc furnace, which is called EcoArc-light, will be supplied …

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A Saudi-Turkish understanding for cooperation in the field of mining

Saudi Arabia and Turkey signed a memorandum of understanding for cooperation in the field of mining during a meeting between Bandar Al-Khorayef, Saudi Minister of Industry and Mineral Resources, and Alp Arslan Bayraktar, Turkish Minister of Energy and Natural Resources, in Ankara on Monday. Bayraktar said, in statements after the meeting, that he hosted Al-Khorayef …

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Scrap exports in Japan increased by 12.6% during the period from January to July 2023

Japanese iron scrap exports in July this year reached 566,718 tons, an increase of 30.2 percent compared to 435,132 tons in the same month of the previous year, according to customs statistics. From January to July this year, Japan exported 4.03 million tons of scrap, an increase of 12.6 percent year on year. During the …

Scrap exports in Japan increased by 12.6% during the period from January to July 2023 Read More »