Industrial News
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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 -
The G7 held a special meeting of energy ministers to discuss the diversity of energy needs
Finance Associated Press, March 11 – the energy ministers of the group of seven held a special teleconference to discuss energy issues. Japanese Minister of economy and industry Guangyi Morida said that the meeting discussed the situation in Ukraine. The energy ministers of the group of sev...Read more -
Us and Japan reach new steel tariff agreement
According to foreign media, the United States and Japan have reached an agreement to cancel some additional tariffs on steel imports. It is reported that the agreement will come into force on April 1. According to the agreement, the United States will stop levying 25% additional tariffs on a ...Read more -
Global crude steel production fell 6.1% year-on-year in January
Recently, the world iron and Steel Association (WSA) released the global crude steel production data in January 2022. In January, the crude steel output of 64 countries and regions included in the statistics of the world steel association was 155 million tons, a year-on-year decrease of 6.1%. In ...Read more -
Indonesia suspends mine operations of more than 1,000 miners
According to foreign media reports, a document released by the Minerals and Coal Bureau under the Indonesian Ministry of Mines shows that Indonesia has suspended the operation of more than 1,000 miners’ mines (tin mines, etc.) due to the failure to submit a work plan for 2022. Sony Heru Prasetyo,...Read more -
World Steel Association: Global crude steel production in 2021 will be 1.9505 billion tons, a year-on-year increase of 3.7%
Global crude steel production in December 2021 In December 2021, the crude steel output of the 64 countries included in the statistics of the World Steel Association was 158.7 million tons, a year-on-year decrease of 3.0%. The top ten countries in crude steel production In December 2021, China...Read more -
9Ni steel plate for Hyundai Steel’s LNG storage tank passed KOGAS certification
On December 31, 2021, the ultra-low temperature steel 9Ni steel plate for LNG (liquefied natural gas) storage tanks produced by Hyundai Steel passed the quality inspection certification of KOGAS (Korea Natural Gas Corporation). The thickness of the 9Ni steel plate is 6 mm to 45 mm, and the maximu...Read more -
9Ni steel plate for Hyundai Steel’s LNG storage tank passed KOGAS certification
On December 31, 2021, the ultra-low temperature steel 9Ni steel plate for LNG (liquefied natural gas) storage tanks produced by Hyundai Steel passed the quality inspection certification of KOGAS (Korea Natural Gas Corporation). The thickness of the 9Ni steel plate is 6 mm to 45 mm, and the maximu...Read more -
Rigid demand for coke picks up, spot market welcomes continuous rise
From January 4th to 7th, 2022, the overall performance of coal-related futures varieties is relatively strong. Among them, the weekly price of the main thermal coal ZC2205 contract increased by 6.29%, the coking coal J2205 contract increased by 8.7%, and the coking coal JM2205 contract increased ...Read more -
Vallourec’s Brazilian iron ore project ordered to suspend operations due to dam slide
On January 9, Vallourec, a French steel pipe company, said that the tailings dam of its Pau Branco iron ore project in the Brazilian state of Minas Gerais overflowed and cut off the connection between Rio de Janeiro and Brazil. Traffic on the main highway BR-040 in Belo Horizonte, Brazil’s ...Read more -
India terminates anti-dumping measures against China-related color-coated sheets
On January 13, 2022, the Revenue Department of the Ministry of Finance of India issued a notification No. 02/2022-Customs (ADD), stating that it would terminate the application of Color Coated/Prepainted Flat Products Alloy Non- Alloy Steel)’s current anti-dumping measures. On June 29, 2016...Read more -
U.S. steelmakers spend heavily to process scrap to meet market demand
According to foreign media reports, US steelmakers Nucor, Cleveland Cliffs and BlueScope Steel Group’s North Star steel plant in the United States will invest more than $1 billion in scrap processing in 2021 to meet the growing domestic market demand in the United States. It is reported that U.S....Read more -
This year, the supply and demand of coal coke will change from tight to loose, and the price focus may move down
Looking back on 2021, coal-related varieties – thermal coal, coking coal, and coke futures prices have experienced a rare collective surge and decline, which has become the focus of the commodity market. Among them, in the first half of 2021, the price of coke futures fluctuated in a broad ...Read more -
The “14th Five-Year Plan” raw material industry development route is clear
On December 29, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the Ministry of Natural Resources released the “14th Five-Year Plan” (hereinafter referred to as the “Plan”) for the development of raw materials industry, focus...Read more -
India terminates anti-dumping measures against China-related iron, non-alloy steel or other alloy steel cold-rolled plates
On January 5, 2022, the Indian Ministry of Commerce and Industry issued an announcement stating that the Taxation Bureau of the Ministry of Finance of India did not accept the Ministry of Commerce and Industry on September 14, 2021 for iron and non-alloy steel originating in or imported from Chin...Read more -
Iron ore Altitude deeply cold
Insufficient driving force On the one hand, from the perspective of steel mills’ resumption of production, iron ore still has support; on the other hand, from the perspective of price and basis, iron ore is slightly overvalued. Although there is still strong support for iron ore in the futu...Read more
