May Market Update: Strong Demand for Ferronickel and Ferrochrome Ferronickel Prices Remain Stable Amid Nickel Ore Shortage Asian ferronickel prices hold firm in May, buoyed by ongoing stability. The persistent shortage of nickel ore in Indonesia continues to influence prices, with delays in mining licenses impacting production. Despite some smelters resuming operations after maintenance, output remains below expectations due to limited...
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Enhancing 304J1 Stainless Steel: Introducing 304Cu 304J1 stainless steel, also known as Cr19Ni8Cu, incorporates copper (Cu) to enhance its properties. By substituting nickel (Ni) with copper, 304Cu austenitic stainless steel improves the final elongation performance of cold-rolled plates. This alteration prevents significant hardening and excessive elongation, reducing the risk of cracking due to residual stress during or after cold working....
Overview of Steel Industry Production 1. Steel Production Analysis National production of pig iron in March 2024 witnessed a 6.9% year-on-year decrease, totaling 72.657 million tons. Cumulative pig iron production from January to March declined by 2.9%, reaching 213.389 million tons. Crude steel production in March saw a year-on-year decrease of 7.8%, totaling 88.269 million tons. Cumulative crude steel production from...
Title: Ferrous Scrap Market Update Ferrous Scrap Prices Holding Strong Ferrous scrap prices within the EU continue to display remarkable resilience, with stainless steel scrap experiencing a consistent upward trajectory. Notably, recent anti-circumvention measures have enhanced transparency across the supply chain. Stability in Scrap Prices The market has witnessed a notable stability in scrap prices, showcasing robustness over recent months. Reports indicate upward...
Steel Suppliers for Xiaomi SU7 Xiaomi Automobile's SU7 series has recently launched, garnering significant attention. This vehicle boasts a hybrid steel-aluminum body-in-white structure, with high-strength steel and aluminum alloy constituting 90.1% of its composition. Notably, the ultra-high-strength steel utilized achieves a remarkable 2000MPa, rivaling the strength of submarine materials. Wuhan Iron and Steel Co., Ltd.: Pioneering Steel Supplier for Xiaomi SU7 Wuhan...
Rising Demand Boosts South Korean Exports South Korea Experiences Surge in Export Demand In recent news, positive economic reports from both Asian and North American regions are fueling market optimism. South Korea, in particular, has witnessed a notable acceleration in export growth, alongside a surge in demand within the logistics sector. Moreover, China's government announcements regarding the housing market have positively...
China's Stainless Steel Market Outlook Anticipated Surge Post-Labor Day Celebrations After the recent Labor Day festivities in China, analysts in Asia predict a continued uptick in the already surging demand for stainless steel. This heightened demand, as per the EU Commission, is projected to annually reduce final energy consumption in Europe by up to 1.9%. Even with potential additional demand,...
