We are pleased to inform you that Ekinciler Demir ve Celik joined as associate member of EUROMETAL.
Ekinciler Iron and Steel Industries, Inc. is the main subsidiary company of Ekinciler Holding. Founded in Iskenderun Bay four decades ago, the company has an annual production capacity of 1.25 million tons. All types of construction steel are manufactured by a highly skilled workforce in the production plant, which is empowered with the state of the art technologies.
EKDEMİR exports products to more than 60 countries all over the world. In 2019, Company’s net sales were USD 326 million and was ranked 78th in 2018 and 114th in 2019 among the Top 500 industrial corporations in Turkey.
Ekinciler Iron and Steel has “ISO 9001 Quality Management Standard Certificate”. The company always puts environmental protection and maintaining a healthy and strong workforce in the forefront of all its production processes and achieved “ISO 14001 Environmental Management Certificate”, “Sustainability Certificate”, and “ISO 45001 Occupational Health and Safety Certificate”. At Ekinciler Iron and Steel Industries, Inc., using energy, water and raw material in the most effective way is an utmost principle. Concerning with the recycling and proper disposal of waste products, the company adopted an approach most beneficial to the national economy.
More information: ekinciler.com
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A number of European steelmakers have decided to cut production by idling blast furnaces during the summer period, cutting production as steel demand remains weak.
Automotive manufacturers have consumed less steel because of lower car production rates caused by a shortage of components. Other end-users, including in the white goods segment, were also reported to show lower demand for steel.
A majority of European coil producers have been operating with reduced capacity in recent weeks and have planned longer summer maintenance works in an attempt to balance supply with reduced demand.
European distributors have sufficient inventories and, as a result, they have been avoiding restocking. A negative price trend in the EU flat steel market contributed to a wait-and-see approach among buyers.
Domestic prices for HRC have been declining in Europe since the second half of March because of weak demand. Platts daily assessments for HRC in Northern Europe declined to Eur780/mt ex-works Aug. 9, 15.4% lower than at the start of the year and down from the intra-year high of $1,460/mt reached March 18.
In the short run, output reduction should support price stability, with production to possibly increase if/when restocking starts.
ArcelorMittal’s Eisenhuettenstadt plant
Salzgitter’s blast furnace C
Arvedi
Acciaierie d’Italia
Marcegaglia
ArcelorMittal’s Dunkirk steelworks
NLMK Strasbourg
Liberty Ostrava plant
HBIS Serbia
US Steel Kosice
Metinvest
— Maria Tanatar, Benjamin Steven, Jacqueline Holman, Staff
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Northern European mills continued to offers discounts to secure volumes Aug. 10, struggling in the minimal demand market.
Market participants reported deals settled at Eur760-770/mt ex-works Ruhr, reinforcing lower workable prices.
The Eur760-770/mt ex-works price level was achievable on bids for larger volumes, with the smaller tonnage deals that have represented the bulk of recent trade sitting higher at around Eur800/mt ex-works.
Platts assessed hot-rolled coil in Northwest Europe down Eur10/mt Aug. 10, at Eur770/mt ex-works Ruhr.
Distribution sources again emphasized a need for certainty in the market on price direction and drivers for demand to recover substantially, though expectations for a September revival were heard as increasingly pessimistic on the day.
“The market just needs some certainty before things start moving again,” said a trader source. “Everyone’s banking on a September revival, but it’s looking increasingly likely that we’ll be in this mess for a while.”
Import offers were heard as stable in the Northern market, with another trader reporting tradable levels stable at Eur720/mt CIF Antwerp.
In Italy, the market was silent on capacity reductions and holiday sentiments, bringing stability to the market on muted trading.
HRC in South Europe was assessed stable day on day at Eur770/mt ex-works Italy.
This brings North and South European HRC price levels into parity for the first time since June 10, 2021, assessed at Eur1,145/mt ex-works Ruhr and Italy, respectively.
Platts is part of S&P Global Commodity Insights.
— Benjamin Steven, Maria Tanatar
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The EU and Turkey have agreed that the EU will modify its safeguard measures on certain steel products until Jan. 16, 2023 to comply with the General Agreement on Tariffs and Trade, or GATT, the World Trade Organization announced Aug. 9.
The EU introduced safeguard measures in July 2018 in the form of tariff-rate quotas.
In March 2020, Turkey requested consultations with the EU concerning the provisional and definitive safeguard measures imposed on imports of certain steel products and the investigation that led to the imposition of those measures.
It then requested the establishment of a panel in mid-July 2020, which was deferred by the dispute settlement body on July 29.
In a general WTO panel report released April 29, 2022, the WTO called on the EU to bring its measure into conformity with the agreement on safeguards and the GATT.
The panel said at the time that it found the EU steel safeguard WTO-compatible on most of the points which Turkey had questioned, while it also found, on three points, that the EU safeguard measure lacked sufficient justification.
The EU is traditionally one of Turkey’s largest steel importers and one of its largest steel suppliers.
Turkish exports of hot-rolled coils fell 7% year on year to 1.02 million mt in the first half of 2022 due to lower EU demand, according to the latest Turkish Statistical Institute data.
Turkish exported HRC was assessed at $620/mt FOB Aug. 5, according to S&P Global Commodity Insights data, representing a $600/mt decline from mid-March.
— Cenk Can
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Ukraine’s crude steel output fell 62.1% on the year to 4.82 million mt in January-July 2022, steelmaking industry association Ukrmetallurgprom reported Aug. 10.
Pig iron output dropped 61.9% on the year to 4.815 million mt and rolled steel production decreased 62.7% to 4.23 million mt, according to preliminary figures.
Output was hit by the Ukraine war, resulting in the destruction of many steelmaking facilities, as well as the disruption of logistic chains, with steel exports out of Black Sea ports barred.
In July, Ukraine produced 280,000 mt of crude steel, down from 1.87 million mt a year ago, while pig iron output was 285,000 mt, down from 1.88 million mt, and rolled steel production was 210,000 mt, down from 1.67 million mt.
Metinvest’s Azovstal and Illych steelworks in Mariupol were both destroyed and captured by the Russian forces, although its Zaporizhstal steelworks, which is running at 50% of its capacity since April, produced 1.01 million mt of steel in January-July, down 56.3% year on year.
Zaporizhstal’s pig iron output dropped 49.9% to 1.27 million mt and rolled metal production decreased 53.9% to 905,700 mt, Metinvest said.
In July, Zaporizhstal produced 137,400 mt of pig iron, down 60.7% on the year, with crude steel production down 72.5% to 89,600 mt and rolled steel output down 71.8% to 78,700 mt.
— Alexander Bor
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