June 2021

EU GREEN STEELMAKING: Thyssenkrupp to replace blast furnaces, request government funding

German steel maker Thyssenkrupp is to replace its four blast furnaces and switch to a system based on direct-reduction of raw material using hydrogen by 2025, the company announced on Tuesday June 29, following a visit by federal government ministers.

Russia’s MMK to start new BF in 2024, no pig iron sales planned

Russia’s Magnitogorsk Iron & Steel Works (MMK) is to commission a new blast furnace (BF) to produce additional pig iron volumes to be used in its own steelmaking operations, the company told Fastmarkets this week.

FOCUS: 4 ways China's steel sector can help achieve carbon neutrality

With the Chinese government setting 2030 as the target for China’s carbon emissions to peak and 2060 for it to achieve carbon neutrality, the country’s steel sector will have to change the way it does business.

Russia sets export duties on 340 metal products [CORRECTED]

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree.

Brazil's pig iron export market quiet, but expected to benefit from export tax in Russia

The pig iron export market in Brazil remained muted in the week to Friday June 25 due to continuing long lead times, but demand is expected to pick up if Russia implements a pig iron export tax in the coming weeks, sources told Fastmarkets.

US PIG IRON: Market down in new bookings, rebound possible on threat of lower supply

The United States’ pig iron import market fell in the latest bookings during the week to Friday June 25, although a rebound may come on the threat of reduced supply from Russia if a proposed export tax is implemented.

CIS PIG IRON: Price softens on lower buying activity; market eyes possible Russia export tax

The price of pig iron exported from the Commonwealth of Independent States dipped in the week to Thursday June 24 on reduced buying activity after key consumers restocked earlier in June and are now anticipating lower prices.

FOCUS: Export tax in Russia to raise global pig iron prices

Russia, the largest global supplier of pig iron, is likely to impose a temporary tax on exports of non-ferrous metals, including pig iron, sold outside the Eurasian Economic Union (EAEU).

SSS 2021: Customer requirements, financing key drivers of decarbonization - panel

Customer requirements and financing will shape the decarbonization of the steel industry, panelists said at Fastmarkets’ 2021 Steel Success Strategies Industry Briefing earlier this week.

PRICING NOTICE: Proposal to launch new weekly China hot-briquetted iron import price

Fastmarkets is proposing to launch a new weekly China hot-briquetted iron (HBI) import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.