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India: Steel ministry may go to FM for duty cover
Fri, 09 Jun 2023 00:00:00 GMT
The steel ministry is likely to take up the issue of duty protection on certain steel products with the finance ministry to safeguard the domestic industry from dumping by China. Steel minister Jyotiraditya Scindia said on Wednesday that a few steel companies have proposed imposing a higher import duty on certain steel products.This is now being examined and will be discussed with the finance ministry for appropriate action. There is a concern on rising imports of steel in certain

Firm Turkish rebar exporters face resistance to their offers ...
Fri, 09 Jun 2023 00:00:00 GMT
Turkish rebar exporters faced resistance from buyers to their offers and no new bookings were reported on the day June 8. As lira-denominated rebar offers paced upwards in response to fast Turkish lira depreciation, the export offers in US dollars remained stable. The Turkish currency neared 23.4/$1 on June 8, which was another daily

Europe's decarbonization focus sets region's steel sector in ...
Fri, 09 Jun 2023 00:00:00 GMT
Sir Isaac Newton famously theorized in his laws of motion that objects react when force is applied. And just as an inert object remains at rest if not acted upon, the European steel industry without government regulation and end-user demand might not have acted to reduce carbon emissions as quickly as it

China: Imported Iron Ore Prices To Go Down In June As Supply-Demand ...
Thu, 08 Jun 2023 00:00:00 GMT
In June, overseas mines will step up shipments whereas domestic pig iron output is likely to fall, which will exacerbate supply-demand imbalance. Market players should keep an eye on domestic policies, steel mills profits and changes in market expectations. It is expected that imported iron ore prices will go down in June. Source:

Iron ore scales 7-week peak on China property stimulus hopes
Wed, 07 Jun 2023 00:00:00 GMT
Iron ore futures rose on Tuesday to their highest levels in about seven weeks, as hopes grew for more property sector-focused stimulus measures in top steel producer China. Steel benchmarks and other steelmaking ingredients in China also advanced as real estate stocks listed in Hong Kong jumped nearly 8% on hopes that Beijing would soon roll out supportive measures to bolster the embattled property sector. The most-traded September iron ore on Chinas Dalian Commodity Exchange ended morning

Extension of US Section 232 exemption for Ukrainian steel likely ...
Mon, 05 Jun 2023 00:00:00 GMT
The United States has extended the suspension of Section 232 tariffs on Ukraine-origin steel a move that is likely to also be beneficial for European steel exporters, sources told Fastmarkets.On Wednesday May 31 2023, the US Department of Commerce confirmed that it has extended the temporary suspension of tariffs on Ukrainian steel for

Low demand likely to drive EU HRC prices down further
Fri, 02 Jun 2023 00:00:00 GMT
Domestic prices for hot-rolled coil in Europe were expected to move down due to slow trading activity and competitive import offers, sources told S&P Global Commodity Insights June 1. Platts assessed domestic prices in Northwest Europe down by Eur5/mt day on day to Eur725/mt ex-works Ruhr June 1. German mills have been offering HRC

UK extends Ukraine HR flats tariff exemption
Thu, 01 Jun 2023 00:00:00 GMT
The UK government has decided to extend the suspension of trade remedy measures on hot rolled flat and coil steel imports from Ukraine, according to the UK Trade Remedies Authority (TRA). The suspension of anti-dumping measures on certain Ukraine-origin hot-rolled flat products is now valid for a further 12 months until 30 May 2024,Kallanishnotes.

Sweden's Port of Lulea to become H2 Green Steel's primary hub
Wed, 31 May 2023 00:00:00 GMT
H2 Green Steel is to use the Swedish port of Lulea as the primary logistics and transportation hub for its new steel mill in Boden, northern Sweden, the company said May 30. This new cooperation agreement with the Port of Lulea is yet another important piece of our puzzle in succeeding with our green

China: Domestic Iron Ore Prices Diverged Last Week, But Are Likely ...
Tue, 30 May 2023 00:00:00 GMT
Weekly iron ore price review: Hebei: down 10-15 yuan/mt in Tangshan, Qianxi, and Qianan; western Liaoning: down 10-15 yuan/mt in Chaoyang, Beipiao and Jianping; east China: up 20-30 yuan/mt. Tangshan: Sharp decline in imported iron ore prices enabled local major steel mills to lower bid prices. Yet, bid prices were cut only slightly due to tight supply. In view of bearish imported ore market, local iron ore prices may inch lower this week. Western Liaoning: Most mines and dressing plants

French rebar activity weakens in May
Mon, 29 May 2023 00:00:00 GMT
May has been a month of poor orders for French rebar. Quiet activity persists, with material only being bought back-to-back, while export sales to other European markets have reduced considerably. Distribution sources say last week was slightly livelier in terms of rebar orders but new construction projects in France are being postponed. Buyers stocks

Iron ore set for weekly fall on faltering China demand
Sat, 27 May 2023 00:00:00 GMT
Iron ore futures remained on track for weekly losses despite their rebound on Friday, pressured by darkening demand outlook in top steel producer China due to a seasonal slowdown in construction. The steelmaking ingredients benchmark June contract on Singapore Exchange SZZFM3 was up 4% at $99.55 a tonne by 0700 GMT. It dropped 1.8% to $94 earlier in the day, hitting its weakest since November, and has fallen more than 5% from last week. The most-traded September iron ore on Chinas Dalian

Number of steel trade news reports: 12
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