CHINA: DESPITE A RECOVERY, THE FORECAST FOR IRON ORE REMAINS GLOOMY Iron ore futures in Dalian and Singapore increased on Monday as a result of China lowering its benchmark lending rate to assist the country's economy, but it is anticipated that the price increase wou...
WITH RISING ENERGY PRICES, ZINC AND ALUMINUM PRICES ARE PROJECTED TO RISE Industrial metals prices are being affected by sluggish economic development, but zinc and aluminum are anticipated to perform better if sky-high energy prices compel European smelters to further redu...
MALAYSIAN BUSINESS WILL INAUGURATE A NEW SLAB CASTER IN TERENGGANU Eastern Steel, a subsidiary of the Jianlong Group, in Malaysia hired Danieli to provide a cutting-edge slab caster so that it could offer the nation with high-quality goods that are now imported. Slab...
EU STEEL COMPANIES DECREASE PRODUCTION DUE TO WEAK DEMAND As the demand for steel is still low, a number of European steel producers have chosen to reduce production by turning off blast furnaces over the summer. None [1] Steel consumption has decreased as ...
CHINESE STEEL PRODUCTION DECLINES IN LATE JULY - CISA According to industrial statistics, the main steel mills in China reported a 7.25 percent decline in their average daily output of crude steel in late July compared to mid-July. As of the end of July,...
ROMANIA STEEL CORP. CONTINUES TO REDUCE OUTPUT DUE TO SLUGGISH DEMAND Due to a shortage of orders, ArcelorMittal Hunedoara in Romania, a subsidiary of the international steel production company ArcelorMittal, announced it has prolonged the period of decreased operation ...
ILLINOIS WIRE FACTORY WILL BE UPDATED BY LIBERTY STEEL Russula has been hired by Liberty Steel & Wire to renovate the two-strand wire plant in Peoria, Illinois, United States. The goal is to modernize the outdated and expensive to maintain drives and cont...
IN LATE JULY, THE PRODUCTION OF CHINA'S LARGEST STEEL FACTORIES DECREASED. According to industrial statistics, the main steel mills in China reported a 7.25 percent decline in their average daily output of crude steel in late July compared to mid-July. As of the end of July,...
EU HRC MILLS OFFER SIGNIFICANT DISCOUNTS TO INCREASE SALES. Northern mills saw less success than expected at the EUR 850 (USD 871) per ton pricing level, EXW Ruhr, according to Northern European sources, which saw lower HRC prices as doable. The source claimed...
AS OUTPUT DECLINES, JAPAN'S LEADING STEELMAKER PREDICTS A 6% DECLINE IN YEARLY EARNINGS Nippon Steel forecast a 6 percent decline in yearly net profit as a result of decreased output, a far smaller decline than analysts had anticipated because the company voiced confidence in its ability...
IRON ORE PRODUCTION AND SALES FOR THE INDIAN GOVERNMENT'S MINING PRODUCER FELL IN JULY At 2.05 million tons in July 2022, state-owned NMDC's iron ore output has decreased by nearly 33 percent YoY; 3.06 million tons of iron ore were produced by NMDC in July 2021. Sales for the firm decre...
CHINESE BUSINESSES COLLABORATE TO CREATE A SUPPLY CHAIN FOR LOW-CARBON AUTOMOBILE STEEL BMW Group and HBIS Group Co., Ltd., a state-owned Chinese iron and steel manufacturing behemoth, have signed an MoU to jointly develop an automotive steel supply chain that is low-carbon and environme...
