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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

Kyrgyzstan: miners and metallurgists ask to increase their wages
Fri, 03 Feb 2023 10:17:47 GMT
The trade union receives numerous appeals from workers of the industry enterprises on the issue of wage increase, the Chairman of the Central Committee of the Mining and Metallurgical Trade Union of Kyrgyzstan Eldar Tadzhibaev has said. The miners and metallurgists are demanding better wage conditions, namely, a two-fold increase in pay rates and

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

Italian domestic CRC, HDG rises on high import offers, good order ...
Thu, 02 Feb 2023 00:00:00 GMT
Domestic prices for cold-rolled and hot-dipped galvanized coil in South Europe increased in the week to Feb. 1 supported by higher import offers and good order books of the European mills. Platts assessed domestic prices of cold-rolled coil in Italy at Eur845/mt ex-works Italy, up Eur15/mt week on week. Market participants estimated tradable values

EU HRC prices stable as buyers question price sustainability
Thu, 02 Feb 2023 00:00:00 GMT
Domestic prices for hot-rolled coil in Europe have been fairly stable on Feb. 1 as buyers have been showing doubt about the sustainability of the prices. Import offers have increased in Europe after Asian mills returned from Lunar New Year holidays, supporting domestic prices in the EU. In addition, domestic mills have full order

Liberty Steel Group investigating restart of Dunaferr: union ...
Mon, 30 Jan 2023 00:00:00 GMT
Liberty Steels specialists are investigating the restart of Hungarian integrated flat steel producer Dunaferr, a representative of the steelworks trade union told S&P Global Commodity Insights Jan. 27. Liberty Steel Group is also negotiating a possible acquisition of the plant with the government and the liquidation commissioner, he said. The UK-based company declined to

Japan 2022 crude steel output falls 7.4% amid slow car production
Tue, 24 Jan 2023 00:00:00 GMT
Crude steel output in Japan, the worlds third-biggest producer, fell 7.4% in 2022 from the previous year due to a slow recovery in automobile production and weaker export demand amid a slowdown in the global economy. Output dropped for the first time in two years to 89.23 million tonnes, figures from the Japan Iron and Steel Federation showed on Monday. During the COVID-19 pandemic, Japans Toyota Motor Corp 7203.T fared better than most car makers in managing supply chains, but it fell

Iron ore futures buoyed by China demand sentiment despite early-week ...
Sat, 21 Jan 2023 00:00:00 GMT
Iron ore futures rose on Friday as continued optimism about an economic recovery in top steel producer China lifted demand sentiment, although they still posted weekly losses due to a slump in prices early in the week. The most-traded May iron ore on Chinas Dalian Commodity Exchange ended day-time trade 1.8% higher at 865.0 yuan ($127.51) a tonne. The DCE will be closed from Jan. 21-27 for the Lunar New Year holidays. Trading will resume on Jan. 30. On the Singapore Exchange, the benchmark

Weak demand stifles trading in Italy, Spain rebar markets
Fri, 20 Jan 2023 00:00:00 GMT
Slow demand was limiting trading activity in Southern Europes rebar markets in the week to Wednesday January 18, sources told Fastmarkets.Before the Christmas closures, steel mills successfully targeted higher prices, but the all-pervasivewait and see sentiment among buyers, coupled with weak demand, resulted in few trades taking place. Some market participants told Fastmarkets there

UK reviews steel quotas for developing countries exporting to ...
Wed, 18 Jan 2023 00:00:00 GMT
The Trade Remedies Authority (TRA) has initiated a Tariff Rate Quota (TRQ) review on steel products which are imported into the UK from over 120 developing countries and which are subject to the UK steel safeguard trade remedy measure. The TRA received a request to review the developing country exceptions on rebar, one of the categories of steel covered by the measure. The TRA is planning to review these exceptions for other categories of steel as well, bringing forward its planned annual

Signs of better downstream demand key to iron ore price recovery ...
Tue, 17 Jan 2023 00:00:00 GMT
Steelmakers, having experienced at least eight months of weak margins may finally be seeing a light at the end of the tunnel come first-quarter 2023, driven by hopes of a near-term improvement in downstream demand. Underpinning these expectations are Indias removal of export duties for pellet mid-November, Chinas abandonment of its zero-COVID policy and its expressed aim of reviving the property market. Platts-assessed 62% Fe iron ore index recovered in the fourth quarter of 2022 by 22.3%

Spanish scrap, rebar prices tick up
Mon, 16 Jan 2023 00:00:00 GMT
Spanish scrap and rebar markets have seen prices recover, with large mills increasing raw material purchasing prices for all grades while raising their long steel offers, market sources tell Kallanish. Large mills returned from holidays by increasing their scrap purchasing prices by almost 20/tonne, one trader says. Demand is picking up and most suppliers

Number of steel trade news reports: 12
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