Indian steel production to rise to 150 million tonnes in fiscal year 21-22

According to a report by ICRA Limited (ICRA), India’s rating agency, India’s steel industry continues to grow this year with new factories commissioned. India’s steel production was reported to be projected at 150 million tonnes by the end of the current fiscal year ending March 31, 2022. The forecast was for JSW Steel’s plan to […]

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13 July 2021 11:07

Export duties from China and Russia stimulate the rise in prices for stainless steel

After Taiwan’s steel mills raised prices, market prices for stainless steel rose correspondingly. Market participants noted that this was mainly due to an increase in export duties from China and Russia. China has previously canceled the export duty exemption. While no date has yet been set for the next increase in export duty, the likelihood […]

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06 July 2021 10:07

Stainless steel on its way to a production record

Stainless steel production has been set to a record this year. After last year’s fall, it is expected to surpass 8 percent this year, higher to reach 55 million tonnes. Several steel mills, which closed during the peak of the pandemic, have resumed operations. However, according to market monitor MEPS International, demand continues to outstrip […]

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14 June 2021 12:06

Indonesia is the world’s second largest exporter of stainless steel

Indonesia has evolved from a country only importing stainless steel in the past to the second largest stainless steel exporter in the world. Indonesia received a lot of investment because Indonesia supported foreign-invested companies to build factories and protect the interests of foreign investors. It was reported that Indonesia will continue to advance downstream nickel […]

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01 June 2021 12:06

JSPL Records Highest Steel Output Ever

Jindal Steel & Power Limited (JSPL) recorded the highest steel production in the fourth quarter of fiscal 21. The volume of production, including pig iron, amounted to 2.07 million tons, which is 35% more than in the previous year. JSPL Standalone reported a record EBITDA of Rs 4,884 crore. The company posted its highest-ever quarterly […]

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24 May 2021 10:05

In China, steel exports grew by 24.5%, imports – by 16.9%

China exported 25.7 million tonnes of finished steel in January-April 2021, up 24.5% over last year, while imports totaled 4.9 million tonnes over the same period, up 16.9% more than last year, according to the latest statistics from the General Administration of Customs of China (GACC). May 7 showed that the growth rate is basically […]

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12 May 2021 12:05

Steel industry hopes for strong growth in 2021

The disastrous year 2020, after creating one of the greatest problems of the century, has come to an end, and hopelessness has been reversed with a lot of positives. The feeling of well-being seems short-lived, however, as the second wave of the pandemic ravages parts of the country and threatens to spread at supersonic speed […]

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27 April 2021 12:04

Volvo and SSAB intend to produce stainless steel vehicles

Truck maker Volvo AB said Thursday that it has signed a cooperation agreement with Swedish steel company SSAB AB to research, develop, mass produce and commercialize stainless steel vehicles. Volvo said it plans to start production of concept cars and components from SSAB-produced steel using non-fossil electricity and hydrogen this year, with plans to start […]

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13 April 2021 09:04

World steel production increased by 6.6%

World crude steel production in 64 countries reporting to the World Steel Association (worldsteel) amounted to 315.0 million tonnes in the first two months of this year. This is a 6.6% increase over production for the corresponding two-month period in 2020. The largest regional steel producer during this period was the Asia and Oceania region, […]

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30 March 2021 10:03

World metallurgy left behind the phase of falling demand

The 4.8% increase in global steel production in January is a positive development for the steel market. Has the steel industry left behind a phase of declining demand, adding new capacity not finding an adequate market, falling prices, rising production costs and, consequently, a prolonged period of bad Ebitda? Without a doubt, the Covid 19 […]

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15 March 2021 10:03