Market downturn, Turkish billet prices fall

Market downturn, Turkish billet prices fall

LMM Global Steel Information Quick View (2021.11.29) According to understanding, Turkish billet prices continued to decline gradually on November 24, and Kardemir, a major integrated long product producer in Turkey, carried out a new round of price cuts. Yesterday, with the sharp depreciation of the Turkish currency, the overall market sentiment was still mostly negative.…

Decarbonization should be done immediately to avoid stranding of assets and employment

Decarbonization should be done immediately to avoid stranding of assets and employment It is of “paramountimportance” the steel industry invests now in low-carbon steelmakingtechnologies that are compatible with climate neutrality, to avoid exposingassets and jobs to high risks in the 2030s and beyond. So says German think tankAgora Energiewende. Around 71% of the world’s coal-basedsteel…

Vale and Posco will study emission reduction technologies

Vale and Posco will study emission reduction technologies Vale has signed a memorandum ofunderstanding (MoU) with South Korean steelmaker Posco to jointly explore anddevelop CO2 emissions reduction technologies in steelmaking. Potential solutions for reducingfossil fuel consumption include Vale’s high-grade iron ore products such aspellet, fines and briquettes. “The steel and mining industry arealready under transformation…

The uptrend in Japanese scrap pricescontinues

The uptrend in Japanese scrap pricescontinues

The uptrend in Japanese scrap pricescontinues In South Korea, Hyundai Steel raisedits bid for Japanese H2 scrap in its scrap auction on 21 October. The mill’sbid for H2 at JPY 54,500/tonne ($478/t) fob is JPY 2,500 ($22) higher than itstendered price on 14 October. It placed an order for 3,000-5,000 tonnes of H2scrap, South Korean…

graphite-electrode

Recent changes in China’s graphite electrode market

LMM Global Steel Information Quick View (2021.10.14) Recent changes in China’s graphite electrode market At present, there is still a wait-and-see mood in the purchase of downstream steel mills of China’s graphite electrodes, and market transactions are still weak. However, due to the tight supply of the graphite electrode market and the high cost, graphite…

STEEL

Myanmar will restart Pinpet factory in fiscal year 2023-2024

LMM Global Steel Information Quick View (2021.10.12) Myanmar will restart Pinpet factory in fiscal year 2023-2024 Myanmar plans to restart the Russian-backed Pinpet plantin Shan State in the financial year 2023-2024, according to the chairman of theState Administration Council (SAC) Senior General Min Aung Hlaing. The SAC chairman went to No.2 SteelMill Project (Pinpet) operated…