Industrial News
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Supply and demand imbalance in Europe’s HRC market stalls
Trading in the European HRC market has been weak recently, and HRC prices are expected to fall further amid sluggish demand. At present, the feasible level of HRC in the European market is around 750-780 euros / ton EXW, but buyers’ purchasing interest is sluggish, and no large-scale transa...Read more -
European metal manufacturers face cutting or closing production on concern of high energy costs
Many European metal manufacturers might face to shut down their production because of high electricity costs because Russia stopped supplying natural gas to Europe and made energy prices hike. Therefore, the European non-ferrous metals association (Eurometaux) indicated that the EU should solve t...Read more -
Turkey’s crude steel production slides in July
According to the Turkish Iron and Steel Producers’ Association (TCUD), Turkey’s crude steel production totaled around 2.7 million tons in July this year, falling by 21% compared to the same month a year ago. During the period, Turkey’s steel imports dropped by 1.8% year on year to 1.3 milli...Read more -
China Steel Exports Dropped Further in July, While Imports Record New Low
According to data from the General Administration of Customs, in July 2022, China exported 6.671 million mt of steel, a drop of 886,000 mt from the previous month, and a year-on-year increase of 17.7%; the cumulative exports from January to July were 40.073 million mt, a year-on-year decrease of ...Read more -
China’s stainless steel inventory drops due to reduction in arrivals
According to statistics on August 11, China’s social inventories of stainless steel have been dropping for three consecutive weeks, of which the decrease in Foshan was the biggest, mainly the reduction in arrivals. The current stainless steel inventory basically maintains sufficient at 850,000 to...Read more -
Turkey’s seamless pipe imports rise in H1
According to the Turkish Statistical Institute (TUIK), Turkey’s seamless steel pipe imports totaled around 258,000 tons in the first half of this year, rising by 63.4% compared to the same period a year ago. Among them, the imports from China accounted for the largest proportion, totaling roughly...Read more