Metalworking news from the globe
Let's take a world tour with 5 news items we have selected from as many corners of the globe. While in some ways COVID-19 has caused markets and people to turn most of their attention to themselves, it also made it even clearer just how interconnected our planet is. And that in order to operate on an international level, having a broader vision and up-to-date information is key. Of course, we got the information part covered: in the next paragraphs we are going to highlight some bits and pieces from the web that we think deserve your attention. For any comment, we invite you to get in touch with our editorial staff: Daniela Di Maggio, editor-in-chief, [email protected], 349 8385199.
EGYPT - As reported by the ITA Agency, iron and steel exports from Egypt have increased exponentially in the first 8 months of 2021. The data indicate a whopping +197% compared to last year. Italy is the main target market, with about 24.5% of exports. Other countries are Spain, Saudi Arabia, the United States, Canada, Brazil, Portugal, Belgium, the Netherlands and Turkey.
US - Environmental protection and the reduction of CO2 emissions are some of the most pressing issues in the steel industry. Against this backdrop, the American company Nucor has recently announced a new line of steel manufactured using only energy coming from renewable sources. General Motors will be the first customer to receive the new Econiq green steel, starting in the first quarter of 2022. As noted on the corporate website, all steel supplied by Nucor to GM will be carbon neutral by the end of 2022.
CHINA - In September, steel exports from China hit their lowest level since December 2020. The reasons for this decline include Beijing's new policies to limit domestic steel production and the spread of the Covid-19 Delta variant in Southeast Asia, among the main outlet markets for Chinese steel. As Argus Media reports, the negative trend is expected to continue in October.
SOUTH AMERICA - The Latin American steel industry continues its recovery stimulated by a growth in consumption. According to the Alacero Association, the cumulative amount of crude steel production from January to July was 37,670.7 million tons (Mt) (+23.5% year-on-year and +2.7% compared to 2019). As for regional consumption, the accumulated in the first 6 months of 2021 was 37.8% higher than the same period in 2020, which reflects the restart of steel-using sectors.
EUROPE - On October 8, the EU Commission suspended for 9 months, with immediate effect, the Definitive Antidumping Duties on imports of aluminum flat rolled products (AFRP) originating in the People's Republic of China (PRC). While on the one hand there are those, such as the Italian association Assofermet, who applaud this decision as a common sense measure given the current shortage of raw material on the EU market, on the other hand there are also some, like the European aluminum association, who are against it, arguing that it "sets a dangerous precedent", and "sends the wrong signal to both international trading partners and China regarding the EU’s commitment to fighting unfair trade practices.”
