Categorie: News

Turkey’s rebar exports drop in Jan-Nov

According to statistics, Turkey’s rebar exports amounted to approximately 5.3 million tons in the first 11 months of 2020, sliding by 2.9% compared to the same period a year earlier. Among them, Yemen ranked first with 855,000 tons, keeping flat year on year; followed by Israel’s 850,000 tons, a year-on-year increase of 5%. Hong Kong […]

High steel supply leads to suppression on profits in China

In 2020, China’s overall demand for steel will be far greater than supply, and prices will also rise due to the impact of the epidemic. The supply was affected by the policy, resulting in large price fluctuations. In addition, the production limit in 2020 will be significantly relaxed. Due to the small variables in the […]

Turkey signs FTA with UK

Turkey’s Trade Minister Ruhsar Pekcan and British International Trade Secretary Liz Truss has signed the Free Trade Agreement (FTA) in a video conference call, and the agreement was scheduled to take effect on January 1, 2021. Pekcan said that the agreement will ensure that the trade relations between the two countries won’t be affected by […]

Russia’s TMK obtains certificate of new high-quality pipe services

Russian pipe manufacturer TMK stated that it has obtained the international certificate of Lloyd’s Register Quality Assurance (LRQA). The certificate has been issued for three years and has further expanded to premium product supervision services in the oil and natural gas fields. In the future, the service department of TMK Oilfield Services will provide certified […]

Romania’s Liberty Galati accomplishes EUR 13.5 million investment

It was reported that Liberty Galati in Romania accomplished its investment project valued at EUR 13.5 million. Liberty Galati is a Romania steel plant under UK’s Liberty Group. The investment project was to improve the plant’s operation and reduce production costs. It was said the company planned to invest EUR 1 billion to update its […]

Russian Severstal launches new blast furnace’s hot test

Severstal, a prominent Russian steelmaking group, announced that its Cherepovets steel plant had started a hot test of the No. 3 blast furnace. The new plant’s capacity is approximately 3 million tons of pig iron per year, bringing Severstal’s total pig iron production capacity to 12.2 million tons. Alexander Shevelev, CEO of Severstal, stated that […]

Russia considering export duties on billet & rebar

The Federal Antimonopoly Service of Russia (FAS) has suggested export duties on billet and rebar to restrain the sharply increased prices in the Russian domestic market, according to a letter from the FAS to the Ministry of Industry and Trade (Minpromtorg). The export duty rate supposed for billet is 13%, and exported rebar was supposed […]

Turkey intends to initiate AD investigation against European HRC

The Turkish Ministry of Trade will initiate an anti-dumping (AD) investigation on European hot-rolled coils (HRC). Although the authority has not announced the investigation launch, market participants believe that the official announcement will be issued soon. Turkey has protested to the WTO in March this year against the European Union’s unfair steel import taxes. In […]