News
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Gasoline prices may have peaked for the summer and could be headed below $4
Gasoline prices have been heading lower for the past month, and are expected to fall even lower — possibly below $4 a gallon — as drivers cut back on spending at the pump. Analysts say average prices may have peaked in June, at $5.01 per gallon, and are not likely to go back to that level unless ...Read more -
India Steel Expansion
Tata Steel NSE -2.67 % has planned capital expenditure (capex) of Rs 12,000 crore on its India and Europe operations during the current financial year, the company’s Chief Executive Officer T V Narendran said. The domestic steel major plans to invest Rs 8,500 crore in India and Rs 3,...Read more -
Strikes sweep the world! Shipping warning in Advance
Recently, food and energy prices have continued to soar due to inflation, and wages have not kept up. This has led to waves of protests and strikes by drivers of ports, airlines, railways, and road trucks around the world. Political turmoil in various countries has made supply chains even worse. ...Read more -
Mexico starts the first sunset review investigation on anti-dumping of coated steel plates to China
On June 2, 2022, the Ministry of economic affairs of Mexico announced in the official gazette that, at the application of the Mexican enterprises ternium m é xico, S.A. de C.V. and tenigal, S. de R.L. de C.V., it decided to launch the first anti-dumping sunset review investigation on coated steel...Read more -
In April, the global crude steel output decreased by 5.1% year-on-year
On May 24, the World Steel Association (WSA) released the global crude steel production data in April. In April, the crude steel output of 64 countries and regions included in the statistics of the world steel association was 162.7 million tons, a year-on-year decrease of 5.1%. In April, Africa&#...Read more -
The US Department of Commerce announced the suspension of steel tariffs on Ukraine
The US Department of Commerce announced on the 9th local time that it would suspend tariffs on steel imported from Ukraine for one year. In a statement, U.S. Commerce Secretary Raymond said that in order to help Ukraine recover its economy from the conflict between Russia and Ukraine, the United ...Read more -
310 million tons! In the first quarter of 2022, the global production of blast furnace pig iron decreased by 8.8% year-on-year
According to the statistics of the world iron and Steel Association, the output of blast furnace pig iron in 38 countries and regions in the first quarter of 2022 was 310 million tons, a year-on-year decrease of 8.8%. In 2021, the output of blast furnace pig iron in these 38 countries and regions...Read more -
Xinjiang Horgos Port imported more than 190000 tons of iron ore products in the first quarter
On the 27th, according to the statistics of Horgos customs, from January to March this year, Horgos Port imported 197000 tons of iron ore products, with a trade volume of 170 million yuan (RMB, the same below). According to reports, in order to deepen international cooperation in energy and miner...Read more -
South Korea temporarily does not impose temporary anti-dumping duties on seamless copper pipes related to China
On April 22, 2022, the Ministry of planning and finance of the Republic of Korea issued announcement No. 2022-78, deciding not to impose temporary anti-dumping duties on seamless copper pipes originating in China and Vietnam. On October 29, 2021, South Korea launched an anti-dumping investigation...Read more -
Vale’s iron ore production fell 6.0% year-on-year in the first quarter
On April 20, Vale released its production report for the first quarter of 2022. According to the report, in the first quarter of 2022, Vale’s iron ore powder mineral volume was 63.9 million tons, a year-on-year decrease of 6.0%; The mineral content of pellets was 6.92 million tons, a year-o...Read more -
POSCO will restart Hadi iron ore project
Recently, with the soaring price of iron ore, POSCO plans to restart the hardey iron ore project near Roy Hill Mine in Pilbara, Western Australia. It is reported that API’s hardy iron ore project in Western Australia has been shelved since POSCO established a joint venture with Hancock in 2...Read more -
BHP Billiton and Peking University announced the establishment of the “carbon and climate” doctoral program for unknown scholars
On March 28, BHP Billiton, Peking University Education Foundation and Peking University Graduate School announced the joint establishment of Peking University BHP Billiton’s “carbon and climate” doctoral program for unknown scholars. Seven internal and external members appointed...Read more -
Rebar is easy to rise but difficult to fall in the future
At present, the market optimism is gradually picking up. It is expected that the transportation logistics and terminal operation and production activities in most parts of China will return to the normalization stage from mid April. At that time, the centralized realization of demand will boost t...Read more -
Vale announces sale of central and Western system assets
Vale announced that on April 6, the company had entered into an agreement with J & F Mining Co., Ltd. (the “buyer”) controlled by J & F for the sale of minera çã ocorumbaense reunidas A.、MineraçãoMatoGrossoS. A. , internationalironcompany, Inc. and transbargenavegaci ó nsocie...Read more -
Construction of the first commercial plant in the Brazilian city of tecnore
Vale and Pala state government held a celebration on April 6 to celebrate the commencement of the construction of the first tecnored commercial operation plant in Malaba, a city in the southeast of Pala state, Brazil. Tecnored, an innovative technology, can help the iron and steel industry decarb...Read more -
The EU carbon tariff has been preliminarily finalized. What is the impact?
On March 15, the carbon border regulation mechanism (CBAM, also known as EU carbon tariff) was preliminarily approved by the EU Council. It is planned to be officially implemented from January 1, 2023, setting a three-year transition period. On the same day, at the economic and financial affairs ...Read more -
AMMI acquires Scottish scrap recycling company
On March 2, ArcelorMittal announced that it had completed the acquisition of John Lawrie metals, a Scottish metal recycling company, on February 28. After the acquisition, John Laurie still operates according to the original structure of the company. John Laurie metals is a large scrap recycling ...Read more -
Evolution of iron ore price from global crude steel production and consumption
In 2019, the world’s apparent consumption of crude steel was 1.89 billion tons, of which China’s apparent consumption of crude steel was 950 million tons, accounting for 50% of the world’s total. In 2019, China’s crude steel consumption reached a record high, and the appar...Read more -
The United States and the United Kingdom reached an agreement to eliminate the use of steel for British Steel and aluminum products
Anne Marie trevillian, British Secretary of state for international trade, announced on social media on March 22 local time that the United States and Britain have reached an agreement on canceling high tariffs on British steel, aluminum and other products. At the same time, the UK will also simu...Read more -
Rio Tinto sets up technology and innovation center in China
Recently, Rio Tinto Group announced the establishment of Rio Tinto China technology and innovation center in Beijing, with a view to deeply integrating China’s leading scientific and technological R & D achievements with Rio Tinto’s professional capabilities and jointly seeking te...Read more -
American steel company announced that it will expand the capacity of Gary ironmaking plant
Recently, the United States Steel Corporation announced that it would spend $60 million to expand the capacity of the Gary ironmaking plant in Indiana. The reconstruction project will start in the first half of 2022 and is expected to be put into operation in 2023. It is reported that through equ...Read more
