IRON and STEEL
As per sources, one of the world's largest steel producer and a leading Russian metal company Magnitogorsk Iron and Steel (MMK) has doubled its metal shipments to Vietnam in CY18 as compared to CY17.
MMK steel exported 5,40,000 MT in CY18 against CY17 and became the second largest exporter to Vietnam after Turkey.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel.
MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 MnT of crude steel and 11.7 MnT of commercial steel products.
With environmental regulations becoming increasingly stringent, arsenic looks set to pile ever more pressure on copper producers.
Trade sources based in Vietnam shared that few deals of positioned cargoes of major Indian steel mills were reported for Vietnam for Aug -Sep shipments.
China's first-half receipts of Russian thermal coal rose by 15pc from a year earlier to 9.4mn t, Chinese customs data show, with imports of bituminous coal registering the most significant growth. Russian suppliers benefited from restrictions on imports of Australian coal imposed by the Chinese government.
The European Commission's proposed revisions to the hot-rolled coil (HRC) import safeguard quota could see Indian steelmakers and Russia's Severstal ramp up exports to the bloc.
Chinese HRC export offers fall; domestic prices rise today- Chinese HRC exports offers witness further slump over fragile sales and tepid demand hovering in nation’s domestic and overseas market.
This week imported HRC offers to Vietnam witness marginal decline by USD 5-10/MT as the gap between bids and offers continue to widen since end users in Vietnam are expecting further decline.