South Korean steel manufacturer POSCO is considering building a comprehensive steel plant in India to meet the growing demand for steel in the automotive industry. POSCO currently has a joint venture steel plant in India (POSCO Maharashtra Steel Company), which supplies 1.8 million tons of steel annually, the majority of which is supplied to the […]
The Malaysian Ministry of Investment, Trade and Industry issued a final ruling on June 26, ultimately ruling that the dumping margin of some alloy and non-alloy cold coils (with a thickness of 0.20mm-2.60mm and a width greater than 700mm) originating from South Korea and Vietnam is less than 2% of the export price, and the
According to the Ukrainian Iron and Steel Industry Association, due to the conflict between Russia-Ukraine conflict, power shortages have affected the operation of iron and steel enterprises, forcing them to temporarily suspend or reduce production. In 2022, Ukraine’s crude steel production decreased by 71% year-on-year to 6.263 million tons. The production of pig iron decreased
In early September, due to the impact of Typhoon Xuan Lan Nuo, facilities such as the POSCO factory building and substation in South Korea were flooded, and multiple fires broke out in the factory area, causing heavy losses. On September 6th, the Pohang Iron Works ceased production. After the typhoon left the country, some blast
Due to the low price of finished steel in the United States and Asia and Russia, the export price of Brazilian slab fell under pressure. At present, Mysteel has learned that the quotation for exporting slab from Brazil is about 560-570 USD/ton FOB, a decrease of about 10 USD/ton from last week. Sources say that
The Southeast Asian Iron and Steel Association (SEAISI) recently stated that by 2026, Southeast Asia’s crude steel production may increase by 90.8 million tons, a growth of nearly 1.3 times. The crude steel production in Southeast Asia in 2020 was 71.8 million tons per year. Assuming all projects are completed on schedule, the total crude
The consolidated financial results of South Korean steel manufacturer POSCO for the first quarter of 2022 have been announced. Due to the increase in steel demand, its operating profit in the first quarter was 225 trillion won (1.8 billion US dollars), a significant increase from the same period last year’s 155 trillion won; In the first
The International Association of Long Rod Manufacturers (Irepas) pointed out in its latest demand outlook report that global long rod varieties are expected to be good in the second quarter. Spring brings broad prospects to the global long timber market In the global long product market, the current situation and sentiment are generally very good,
According to data from the US Department of Commerce, US steel imports in October decreased by 16.8% month on month to 2.46 million tons, a year-on-year increase of 79%. The import volume of steel from January to October this year increased by 38.2% year-on-year, to 24.09 million tons. In terms of variety, the import volume
POSCO raised the price of stainless steel in July: the 300 series increased by KRW 100000 per ton (approximately USD 88 per ton), and the 400 series increased by KRW 50000 per ton (approximately USD 44 per ton). This price adjustment is made in the context of the gradual increase in cost burden and the
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