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Steel market is experiencing the longest downturn in 20 years – Metinvest CEO
In 2025, there should be a turning point in the market and revival of consumptionThe global steel market is experiencing its longest downturn in 20 years, said Yuriy Ryzhenkov, CEO of Metinvest Group, at the Siderweb 2024 forum held on 26 September... Read more
Automotive,EV,USA › Biden's car-tech ban is a powerful new weapon against Chinese EVs
The Biden administration's proposed ban on Chinese connected-car technology could prove its strongest weapon yet to fend off an onslaught of cheap Chinese electric vehicles that has upended the global auto industry.The ban on hardware and software, announced Monday by the U.S.... Read more
USA,Foundry,Grey Iron › US Grey Cast Iron Market Remains Steady Amid Raw Material Fluctuations
The Grey Cast Iron market in the United States has shown remarkable stability in recent weeks, with prices holding steady through the second and third weeks of September. This consistency in Grey Cast Iron pricing comes against a backdrop of... Read more
Steel › When was steel invented?
Steel is the backbone of the modern world and used in houses, skyscrapers, automobiles and more. But steel isn't found in nature, so when did humans invent steel?It turns out that this sturdy modern metal dates back at least 2,000... Read more
Pig Iron › Global pig iron production fell by 6.7% m/m in August
In January-August, the indicator decreased by 2.3% y/yIn August 2024, the global production of pig iron fell by 6.7% compared to the previous month – to 112.57 million tons. Compared to August 2023, the indicator decreased by 5.8%. This is... Read more
Iron Ore › Iron ore tipped to fall below $US80, forcing mine closures
Bank of America has warned that iron ore prices could fall below $US80 a tonne, which is a key level that would force a fresh wave of higher-cost mines to shut down as China’s steel crisis wreaks havoc.The alert comes... Read more
Foundry › The opportunities and challenges of the global foundry industry until 2030
Based on the current casting forecast by IKB, an increase in tonnage of the global foundry industry can be expected by the end of the 2020s. However, significant regional differences in growth rates are anticipated. High uncertainties are particularly posed... Read more
Iron Ore,Copper › Bank of America forecasts copper price above $10,000, iron ore price below $80 by 2025
Analysts at Bank of America (BofA) are projecting copper price to rise above $10,000 per tonne by 2025, while predicting iron ore prices to fall below $80 per tonne the same year.For copper, Bank of America analysts maintain a positive outlook, expecting prices... Read more
Steel,China › Four reasons why China faces an unparalleled steel crisis
Bearishness lingers in China’s ferrous market despite price rises seen for some steel products in recent days, market participants told Fastmarkets in the week to Wednesday September 11For instance, prices for major steel product reinforcing bar (rebar) have risen continuously... Read more
Pig Airon,Brasil › Brazil’s pig iron exports decline in Aug m-o-m
According to Brazilian customs statistics, Brazil’s pig iron exports amounted to around 270,000 tons in August, experiencing a drop of 23.7% compared to the previous month.During the period, the exports were mostly to the US, totaling around 209,000 tons. The... Read more
