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Global recession affects steel demand and raw material prices
According to Turkish producer of rolled and profiled steel Kocaer Celik, recession concerns are driving down global steel demand and raw material prices, while the war in Ukraine is lowering prices by changing trade routes. Due to sanctions, supplies from these...
Steel: U.S. targets Russian producer MMK
The United States has targeted Russian steelmaker MMK and its majority owner Viktor Filippovich Rashnikov. MMK is one of the largest integrated steel producers in Russia and operates throughout the steel production chain. The Treasury Department stated that the steel...
Steel: China’s rebar production increases by 1 percent
Chinese rebar production of 137 steel producers nationwide finally made a break after six weeks of decline, rising 0.9 percent or 20,800 tons on a weekly basis to 2.32 million tons during July 21-27. During the survey period, the average rebar rolling capacity...
Nickel: Sumitomo’s profit rises 45% in second quarter
Japanese trading company Sumitomo Corp said Wednesday that net profit for the April-June quarter rose 45 percent to a record high, thanks to higher prices for raw materials such as coal and nickel and strong demand for steel products in North America. Net income for...