EUROFER: URGENT CALL FOR ACTION ON NON-MARKET EXCESS CAPACITY IN STEEL INDUSTRY The European Aluminum and EUROFER, representing the aluminum and steel sectors in Europe, have issued a joint statement emphasizing the urgent need for progress in the Global Arrangement on Sustainabl...
Ind-Ra: Indian steel demand to rise by 9-12 percent in FY 2024-25 India Research and Ratings (Ind-Ra) has forecast a domestic steel demand growth of 9-12 percent in fiscal year 202 25, driven by user industries like automobile and infrastructure, the rating firm sai...
Vietnam’s steel imports up 20.6 percent in May from April In May this year, Vietnam [1] ’s steel imports amounted to 1,547,270 mt, up 20.6 percent compared to April, while its scrap imports went down by 27.4 percent month on month to 295,749 mt, according t...
UK Steel calls for policy support to boost competitiveness of steel industry The UK [1] -based trade association UK [2] Steel has stated that the country’s steel industry is battling sliding competitiveness and increasing imports, and it is calling for policies ahead of the...
Taiwan’s iron and steel export value down 10.7 percent in January-May In May this year, the value of Taiwan [1] ’s iron and steel exports moved down by 12.9 percent year on year to $1.43 billion, according to the statistics issued by Taiwan [2] ’s Ministry of Finance....
Ex-India HRC offers prices rise but only to Europe, most sellers still refrain from exports While most ex- India [1] hot rolled coil ( HRC [2] ) prices have remained stable in the majority of trade destinations, mainly amid negligible trade activity, export offers to Europe have indicated a...
MOC: Average steel prices in China down slightly during May 27-June 2 China [1] 's Ministry of Commerce (MOC) has announced that during the May 27-June 2 period this year the overall average finished steel price in China [2] decreased slightly. In the given period, t...
ICRA RAISES INDIAN STEEL DEMAND GROWTH FORECAST TO 9-10% IN FY 2024-2025 Indian rating agency ICRA has revised upwards its Indian steel demand growth forecast for the fiscal year 2024-25 to 9-10 percent, higher than 7-8 percent earlier, according to a statement by the agen...
US TOOL STEEL EXPORTS DOWN 31.1 percent IN MARCH FROM FEBRUARY According to export data from the US [1] Department of Commerce, US [2] exports of tool steel totaled 5,958 mt in March this year, down 31.1 percent from February and down 39.6 percent year on yea...
€300 MILLION INVESTMENT TO REACTIVATE ROMANIA’S OTELU ROSU STEEL PLANT Marcel Ciolacu, the prime minister of Romania, has announced that Romanian entrepreneur Dorinel Umbrarescu, owner of UMB Group, a company primarily involved in construction, transportation and petrole...
TURKISH STEEL INDUSTRY AIMS TO INCREASE TRADE VOLUME WITH NORTH AFRICA The Turkish Steel Exporters’ Association (CIB) visited Tunisia with a trade delegation on May 22-24 with the aim to increase the trade volume between Turkey and North African countries and expand Turk...
US RAW STEEL PRODUCTION UP 0.4 PERCENT WEEK-ON-WEEK According to the American Iron and Steel Institute (AISI), in the week ending on May 25, 2024, US domestic raw steel production was 1,735,000 net tons while the capability utilization rate was 78.1 pe...
