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COVID-19 Impacts — Metals Price Recovery Fragile As Recession Concerns Loom
Metals prices continued to rally in May and June, spurred by a rebound in Chinese demand and lockdown measures easing in the U.S. and Europe, as major economies began reactivating. Iron ore was the standout performer, trading at 10-month highs above US$100 per tonne through June. Bullish sentimen...Read more -
Cost increases superimposed demand rises Brazilian steel has announced increases
The Brazilian steel producer may usiminas and arcelormittal brazil to follow suit to raise steel prices after the Brazilian State Steel Corporation (csn) announced a 10.5 per cent increase in the price of its distribution chain steel, according to the Brazilian Flat Steel Sales Association. inda ...Read more -
EU plans to revise tariffs on steel imports to prevent oversupply
As the EU economy recovers from the impact of the pandemic, the EU plans to revise its steel import restrictions to prevent major market distortions. The proposed changes to the EU import restrictions introduced two years ago are aimed at preventing the transfer of global steel supplies to Europe...Read more -
Global steel demand is expected to decrease by 6.4% year-on-year in 2020
The World Steel Association today released short-term steel demand forecasts for 2020 and 2021. According to the forecast, the global steel demand will shrink 6.4% to 1.654 billion tons by 2020, affected by the 2019 new coronavirus pneumonia epidemic. Global steel demand is expected to return to ...Read more -
The surge in international iron ore prices is due to Chinese huge demand
Brazil’s worsening covid-19 crisis and reduced shipments of iron ore from the South American country have led to a spike in global iron ore prices, thanks to strong Chinese demand. On may 26, china’s benchmark spot price of 62% of iron ore reached 100$ a tonne (a $150), up from $$us90...Read more -
The overall improvement of the international steel market in June
Although the coronavirus epidemic continues to plague the global economy, in May, the global steel market ended its overall decline and some markets began to rise, driven by a strong recovery in Chinese demand. In Europe, where weak demand and high inventory pressures remain constant, European ma...Read more -
Global crude steel production fell 13% year-on-year to 137.1 million tons in April 2020
In April 2020, crude steel production in 64 countries included in the World Iron and Steel Association statistics was 137.1 million tons, down 13% from the same period last year. China’s crude steel production in April was 85 million tons, an increase of 0.2 percent over the same period las...Read more -
Up 125%, India’s iron ore exports reached 36.42 million tons! China is the biggest buyer
In recent years, India has been able to earn its own export earnings by producing iron ore as a result of the steel industry. China Metallurgical News reported on May 18 that India’s latest data showed that India’s iron ore production reached 246.5 million tons in the 2019 fiscal year...Read more -
High growth in iron ore exports from India’s steel industry in first quarter
India will launch an economic stimulus package of 20 trillion rupees ($267 billion), according to China Metallurgical News, in a televised address on the evening of May 12. At the same time, however, it announced that the national blockade would be extended again, with specific requirements to be...Read more -
Ancelormittal, the world’s biggest steelmaker, has seen its credit rating downgrade due to weak supply and demand in Europe and the United States
Arcelor mittal, the world’s biggest steelmaker, released its first-quarter results thursday. Sales fell 23% to $14.8 billion, leaving a net loss of $1.12 billion (7.95 billion yuan). In terms of capacity, ArcelorMittal is still the world’s first, but output has been surpassed by China...Read more -
The new crown epidemic has forced India to export steel to China
The spread and blockade of the novel coronavirus forced Indian steel producers to begin transporting steel to China, the world’s largest steel producer. India’s steel companies have produced almost zero for domestic markets after the blockade began. But India gets large orders from Ch...Read more -
India will invest in infrastructure to boost steel demand
P.K.RATH, chairman and general manager of rashtriya ispat nigam ltd (rinl) visacapatnam steel, said demand for steel in india shrank by 6-7 percent in the first quarter and inventories of steel mills rose sharply, foreign media reported. p.k.rath said india had eased some industry blockades since...Read more