Industrial News
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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 -
Heavy! Crude steel production capacity will only decrease but not increase, and strive to break through 5 key new steel materials every year! “14th Five-Year” plan for raw materials ind...
On the morning of December 29, the Ministry of Industry and Information Technology held a press conference on the “Fourteenth Five-Year Plan” Raw Material Industry Plan (hereinafter referred to as the “Plan”) to introduce the relevant situation of the plan. Chen Kelong, Di...Read more -
Eurasian Economic Union continues to impose anti-dumping duties on Ukrainian steel pipes
On December 24, 2021, the Department of Internal Market Protection of the Eurasian Economic Commission issued Announcement No. 2021/305/AD1R4, in accordance with Resolution No. 181 of December 21, 2021, to maintain Resolution No. 702 of 2011 on Ukrainian Steel Pipes 18.9 The anti-dumping duty of ...Read more -
Posco will invest in the construction of a lithium hydroxide plant in Argentina
On December 16, POSCO announced that it would invest US$830 million to build a lithium hydroxide plant in Argentina for the production of battery materials for electric vehicles. It is reported that the plant will start construction in the first half of 2022, and will be completed and put into pr...Read more -
South Korea and Australia sign a carbon neutral cooperation agreement
On December 14, South Korea’s Minister of Industry and Australia’s Minister of Industry, Energy and Carbon Emissions signed a cooperation agreement in Sydney. According to the agreement, in 2022, South Korea and Australia will cooperate in the development of hydrogen supply networks, carbon captu...Read more -
Severstal Steel’s outstanding performance in 2021
Recently, Severstal Steel held an online media conference to summarize and explain its main performance in 2021. In 2021, the number of export orders signed by the Severstal IZORA steel pipe plant increased by 11% year-on-year. Large-diameter submerged arc welded steel pipes are still the key ex...Read more -
The EU conducts a review of the safeguard measures for imported steel products
On December 17, 2021, the European Commission issued an announcement, deciding to initiate the European Union steel products (Steel Products) safeguard measures. On December 17, 2021, the European Commission issued an announcement, deciding to initiate the EU steel products (Steel Products) safeg...Read more -
The apparent consumption of crude steel per capita in the world in 2020 is 242 kg
According to data released by the World Iron and Steel Association, the world’s steel output in 2020 will be 1.878.7 billion tons, of which the oxygen converter steel output will be 1.378 billion tons, accounting for 73.4% of the world’s steel output. Among them, the proportion of con...Read more -
Nucor announces investment of 350 million U.S. dollars to build a rebar production line
On December 6, Nucor Steel officially announced that the company’s board of directors has approved an investment of US$350 million in the construction of a new rebar production line in Charlotte, North Carolina’s largest city in the southeastern United States, which will also become New York. Ke&...Read more -
Severstal will sell coal assets
On December 2, Severstal announced that it plans to sell coal assets to the Russian energy company (Russkaya Energiya). The transaction amount is expected to be 15 billion rubles (approximately US$203.5 million). The company said the transaction is expected to be completed in the first quarter of...Read more -
British Iron and Steel Institute pointed out that high electricity prices will hinder the low-carbon transformation of the steel industry
On December 7, the British Iron and Steel Association pointed out in a report that higher electricity prices than other European countries will have an adverse effect on the low-carbon transition of the British steel industry. Therefore, the association called on the British government to cut its...Read more
