Deteriorating global and domestic market sentiment has forced Indian mills to decrease hot rolled coil quotes further, but this has still not spurred counter-bids from buyers. Bids from European and Turkish buyers are nowhere close to matching Indian offers, owing to which buyers are heard withdrawing from negotiations well before deal conclusion, sources inform Kallanish.…
According to data from the Japan Iron and Steel Federation, Japan exported 3.145 million tons of steel in March, a slight decrease of 0.3% year-on-year, and the third consecutive month of year-on-year decline. Among them, the export volume of ordinary steel was 2.127 million tons, a year-on-year increase of 5.2%, the first year-on-year increase in…
According to Indian media sources, India’s largest stainless steel maker Jindalai Stainless reported that its standalone net profit rose 152% to 6.69 billion rupees in the first quarter ended March 31. Profit in the same period last year was Rs 265 crore. Turnover for the reporting period was Rs 6,287 crore, up 65% year-on-year. The…
Tata Steel’s digital strategy has three pillars: Smarter technology, smarter connectivity, and smarter services. Tata Steel’s digital innovation center is constantly experimenting with the latest technologies, such as twin data, AI, augmented/virtual/hybrid reality, blockchain and UAV. Implement in the steel manufacturing base and develop value-added digital services for downstream users at the same time. 1)…
In the first quarter of 2022, the output of GRAFTECH, a major global graphite electrode manufacturer, reached 46,000 tons, a year-on-year increase of 28%, which was nearly the same as that in the fourth quarter of last year; graphite electrode sales reached 43,000 tons, a year-on-year increase of 16% and a month-on-month decrease of 2.3%;…
After this update, it is also found that the entry policies of various countries/regions are constantly being simplified, but what is even more surprising is that more and more countries are completely canceling the entry restrictions related to COVID-19, for example, many new countries in Europe are fully opened. , 1 new country in Africa…
The Tosyali Algeria Phase IV integrated steel plant, which is contracted by Sinosteel Equipment EPC, mainly includes a direct reduced iron workshop with an annual output of 2.5 million tons, a steelmaking workshop with a 240-ton electric furnace, an 1800mm hot continuous rolling production line and two 600-ton Limekiln and supporting public and auxiliary facilities.…
India’s steel ministry recently urged to increase the combined capacity of the Steel Authority of India (SAIL), the National Mining Development Corporation (NMDC), RINL, KIOCL, and other state-run steel companies to 45 million tonnes/year by 2030. According to market assessments, the Indian government is confident that it will succeed in its plan to increase the…
Another Vietnamese strip producer has increased the domestic price for its new hot rolled coil allocations, Kallanish notes. Hoa Phat Dung Quat Steel announced a $10/tonne increase for its June/early-July shipments on Monday. Hoa Phat’s new prices for SAE1006/SS400 grade HRC are pegged at VND 21,160/kg ($920/t) cif Haiphong and the equivalent of $924/t…
The Iranian Steel Producers’ Association (ISPA) has asked the industry, mines and trade ministry to revoke the export duties imposed on steel, given the country’s steel output is double its consumption, ISPA says on its online Chilan portal. Iran’s steel industry struggled with natural gas shortages and electricity supply restrictions in 2021, but managed…