Industry News
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Russia will levy 15% of black and non-ferrous metals from August 1st
Russia plans to levy temporary export tariffs on black and non-ferrous metals from early August, which is to compensate for the rolling prices in government projects. In addition to 15% of basic export tax rates, each type of product has a specific component. On June 24th, the Ministry of Economi...Read more -
Steel prices continue to rise, but the rise seems to slow down
As steel prices continue to rise, the monthly metal index (MMI) of raw steel rose by 7.8% this month. Are you ready for the annual steel contract negotiation? Be sure to review our five best practices. As we wrote in this month’s column, steel prices have been rising continuously since last sum...Read more -
Driven by strong steel prices, iron ore is expected to rise for the fifth consecutive week
On Friday, major Asian iron ore futures rose for the fifth consecutive week. Anti-pollution steel production in China, a major producer, fell, and global steel demand increased, pushing iron ore prices to record highs. September iron ore futures on China’s Dalian Commodity Exchange closed ...Read more -
ArcelorMittal again raised its hot-rolled coil offer by €20/ton, and its hot-rolled coil/hot-dip galvanized offer by €50/ton.
Steel manufacturer ArcelorMittal Europe increased its hot rolled coil offer by €20/ton (US$24.24/ton), and increased its offer for cold rolled and hot-dip galvanized coil by €20/ton to €1050/ton. Ton. The source confirmed to S&P Global Platts on the evening of April 29. After the market clos...Read more -
BREAKING NEWS: China decides to remove rebate on steel products
On April 28th, the Ministry of Finance website issued an announcement on the cancellation of export tax rebates for some steel products. From May 1st, 2021, the export tax rebates for some steel products will be cancelled. The specific execution time shall be defined by the export date indicated ...Read more -
Can the “new infrastructure” directly drive the increase in steel demand?
There is more consensus now that the government should focus on "new infrastructure" after the epidemic. "New infrastructure" is becoming the new focus of domestic economic recovery. "New infrastructure" includes seven major areas incl...Read more
