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India announces high export duties on iron ore exports
India announces high export duties on iron ore exports On May 22, the Indian government issued a policy to adjust import and export tariffs for steel raw materials and products. The import tax rate of coking coal and coke will be reduced from 2.5% and 5% to zero tariff; Export tariffs on groups, ...Read more -
Russia-Ukraine conflict plunges Europe into steel shortage
According to the British “Financial Times” website reported on May 14, before the Russian-Ukrainian conflict, Mariupol’s Azov steel plant was a large exporter, and its steel was used in landmark buildings such as the Shard in London. Today, the massive industrial complex, which ...Read more -
The next ten years will be a critical period for China’s steel industry to transform from big to strong
Judging from the data in April, my country’s steel production is recovering, which is better than the data in the first quarter. Although steel production has been affected by the epidemic, in absolute terms, China’s steel production has always occupied the first place in the world. L...Read more -
How does the Fed’s interest rate hike and shrink the table affect the steel market?
important events On May 5, the Federal Reserve announced a 50 basis point rate hike, the largest rate hike since 2000. At the same time, it announced plans to shrink its $8.9 trillion balance sheet, which began on June 1 at a monthly pace of $47.5 billion, and gradually increased the cap to $95 b...Read more -
Is the European Steel Crisis Coming?
Europe has been busy lately. They have been overwhelmed by the multiple supply shocks of oil, natural gas and food that follow, but now they are faced with the looming steel crisis. Steel is the foundation of modern economy. From washing machines and automobiles to railways and skyscrapers, all...Read more -
Russia-Ukraine conflict, who will profit from the steel market
Russia is the world’s second largest exporter of steel and carbon steel. Since 2018, Russia’s annual steel exports have remained at around 35 million tons. In 2021, Russia will export 31 million tons of steel, the main export products are billets, hot-rolled coils, carbon steel, etc. ...Read more -
Global energy prices soar, many European steel mills announce shutdowns
Recently, rising energy prices have hit European manufacturing industries. Many paper mills and steel mills have recently announced production cuts or shutdowns. The sharp rise in electricity costs is a growing concern for the energy-intensive steel industry. One of the first plants in Germany,...Read more -
Steel industry export orders have rebounded
Since 2022, the global steel market has been fluctuating and differentiated as a whole. The North American market has accelerated downward, and the Asian market has risen. The export quotations of steel products in related countries have risen significantly, while the price increase in my country...Read more -
The European Steel Market Shocked and Divided in March
In February, the European flat products market fluctuated and differentiated, and the prices of main varieties rose and fell. The price of hot-rolled coil in EU steel mills rose by US$35 to US$1,085 compared with the end of January (ton price, the same below), the price of cold-rolled coil remain...Read more -
Turkey’s billet imports up 92.3% in January-November
In November last year, Turkey’s billet and bloom import volume increased by 177.8% month on month to 203,094 mt, up by 152.2% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $137.3 million, increasing by 158.2% month on ...Read more -
EU imposes provisional AD duty on stainless CRC imports from India and Indonesia
The European Commission has published provisional antidumping duties (AD) on imports of stainless steel cold rolled flat products from India and Indonesia. The provisional antidumping duty rates range between 13.6 percent and 34.6 percent for India and between 19.9 percent and 20.2 percent for In...Read more -
Philippines benefits from drop in steel billet import offers from Russia
The Philippine import steel billet market was able to take advantage of a drop in offer prices for Russian material in the week and purchase a cargo at lower prices, sources said on Friday November 26. A deluge of resale 3sp, 150mm steel billet import cargoes, largely held by Chinese traders, has...Read more