Nickel Prices Surge Above $21,000 Recent Price Increase Nickel prices have surged past $21,000 per tonne on the LME and the Asian SHFE in recent days. On May 17, 2024, prices broke the $20,000 mark during after-hours trading on the LME, continuing their upward trend overnight. This rally saw prices exceed $21,000 per tonne shortly after the start of trading. The...
Global Steel Demand Continues to Grow, Prices Rise Steel Prices Increase 15 May 2024 – Global steel demand is rising, leading to higher prices for May and June. The US government has increased Section 301 tariffs on Chinese steel and aluminum imports. Additionally, the global purchasing managers' index has entered the growth zone. Rising Global Demand Demand for steel is increasing worldwide, driving...
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...
