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EU steel demand to fall 1.6% in 2023 on costs, supply chain ...
Sat, 04 Feb 2023 00:00:00 GMT
Steel demand in the European Union is expected to drop 1.6% this year, hit by raging inflation, supply chain problems and cheap imports, industry group Eurofer said on Thursday. That is slightly more optimistic than the 1.9% drop in apparent steel demand the group forecast when it last updated its outlook in October. Apparent steel demand measures steel output plus imports net of exports and incoming material being further processed in the bloc. However, it downgraded its estimate for demand

Iron ore hits 2-week low as China rally fizzles out
Fri, 03 Feb 2023 00:00:00 GMT
Iron ore futures fell to a two-week low on Thursday as traders reassessed demand prospects in key consumer China, despite expectations for more policy stimulus to support the countrys economic rebound. Iron ore and steel prices in China hit multi-month highs in January as markets rallied from early November on the back of Beijings stepped-up policy support for its ailing property sector and dismantling of strict COVID-19 curbs. The steelmaking ingredient has risen more than 9% this year on

Steel Mills Keen on Producing Post CNY Holiday with Elevated ...
Thu, 02 Feb 2023 00:00:00 GMT
According to SMM survey, the average operating rate of blast furnaces at steel mills gained 0.44 percentage point from a week ago to 91.52% as of February 1. The average capacity utilisation rate of blast furnaces was up 0.19 percentage point week-on-week to 92.57%. The daily average pig iron output of the steel mills in SMMs survey sample stood at 2.21 million mt, an increase of 4,600 mt from the previous week. SMM estimates that the daily average pig iron output across the country stood

Flat steel producer Acciaierie d'Italia to boost production in ...
Thu, 02 Feb 2023 00:00:00 GMT
Italian integrated flat steel producer Acciaierie dItalia (ADI) has confirmed its plans to boost crude steel production to 4 million mt in 2023 and to 5 million mt in 2024, the company told S&P Global Commodity Insights Feb. 1. This is up from production of below 3 million mt in 2022, according to market

Borusan Mannesmann to start new Romania steel pipe facility end-2023
Thu, 02 Feb 2023 00:00:00 GMT
Turkeys largest steel pipe producer Borusan Mannesmann will start construction of its new steel pipe facility in Romania in March, which is scheduled to start serial production at the end of 2023, it said Jan. 31. We will process pipes at the facility to meet our automotive customers special pipe requirements, like cylinder tubes

Iron ore dips as traders weigh China demand
Wed, 01 Feb 2023 00:00:00 GMT
Iron ore futures fell on Tuesday, with the Dalian benchmark price pulling back from the previous sessions contract high, as traders assessed demand in top steel producer China while also keeping an eye on regulatory risks. The steelmaking ingredient, however, was on track for a 2% monthly gain in the Dalian Commodity Exchange. It has risen 11% on the Singapore Exchange this month, in a rally driven by improved demand prospects after China dismantled strict COVID curbs. The so-called China

December 2022 crude steel production and 2022 global crude steel ...
Tue, 31 Jan 2023 09:30:15 GMT
World crude steel production for the 64 countries reporting to the World Steel Association (World Steel Association) was 140.7 million tonnes (Mt) in

Iron ore extends rally on China demand optimism
Tue, 31 Jan 2023 00:00:00 GMT
Dalian iron ore futures extended gains after a week-long Lunar New year holiday in China, climbing more than 3% to a contract high on Monday, on optimism around demand prospects for the worlds top steel producer. The most-traded May iron ore contract on Chinas Dalian Commodity Exchange ended daytime trade 2% higher at 873.50 yuan ($129.40) a tonne, after earlier hitting a contract-high 890 yuan. On the Singapore Exchange, the steelmaking ingredients benchmark March contract was up 1.1% at

Ukraine: AMKR to decommisson oldest sinter factory
Mon, 30 Jan 2023 09:36:09 GMT
ArcelorMittal Kriviy Rih has announced the decommission of its oldest sintering line, that has been used to provide around 8 thousand tons of sinter per day to the blast furnace No. 1, due to the decrease in output because of the war and in order to conform to its obligation to decrease environment impact.

Fortescues Iron Bridge to begin production this quarter; Q2 shipments ...
Mon, 30 Jan 2023 00:00:00 GMT
Australias Fortescue Metals Group FMG.AX on Friday confirmed its Iron Bridge Magnetite project was on track to begin production at the end of the March quarter, realising a key strategy to secure better prices for its ore. Fortescue, run by billionaire and iron ore magnate Andrew Forrest, posted a 4% rise in quarterly shipments, underpinned by strength across its key Western Australia iron ore operations. The Iron Bridge project in Western Australias Pilbara region will allow Fortescue to

China opening up economy to aid India steel firms
Mon, 30 Jan 2023 00:00:00 GMT
The reopening of Chinas economy, which accounts for almost a fifth of the worlds GDP, would also open up a plethora of opportunities for the Indian steel sector. With the recovery expected to be supported by consumption, Indian steel manufacturers would be able to replace China in providing the product to other nations.9/ While China would also become a market, Indian manufacturers would also scale up production to meet increasing demand. Further, a fall in energy prices including coal

Chinas daily crude steel output up in early January
Fri, 27 Jan 2023 00:00:00 GMT
Chinas major steel mills saw their average daily output of crude steel grow 0.51 percent in early January from that recorded in late December 2022, industrial data showed. The daily crude steel output stood at 1.93 million tonnes in early January, according to the China Iron and Steel Association. Major steel producers churned out a total of 19.26 million tonnes of crude steel in the period, the data showed. During this period, daily production of pig iron went down 0.4 percent, while that

Number of steel production news reports: 12
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