South Korea's LG Chemical has slashed operating rates at its 170,000 t/yr Daesan-based styrene monomer (SM) unit by 30pc since last week because of weaker demand and persistently negative production margins.
News ID: 8479 Publish Date : 2020/02/24
Adds upated case tally in paragraph 5; details of more flight cuts, steel plant closure in paragraphs 7-8
News ID: 8478 Publish Date : 2020/02/24
South Korea's government forecasts the country having more than 200,000 electric and hydrogen vehicles on its roads by the end of this year amid increased public incentives.
News ID: 8291 Publish Date : 2020/01/10
A car which is designed solely for the European market is surprisingly put on sale in its country of origin due to public demand and that says a lot about its appeal.
News ID: 8224 Publish Date : 2020/01/06
Japan, world’s third-largest crude steel producer observed stability in its ferrous scrap exports for another month in Nov'19. The country exported 0.65 MnT of scrap in Nov’19, as against the similar quantity exported in Oct’19. However, on a yearly basis, scrap exports have increased by 33% Y-o-Y from 0.49 MnT reported during the same period a year ago, in Oct’18.
News ID: 8211 Publish Date : 2020/01/02
Russian scrap offers to South Korea increased significantly, according to recent release reports. Offers to South Korea up by USD 15-20/MT as against last week, however, no fresh bookings at these levels have been concluded as yet.
News ID: 8139 Publish Date : 2019/12/27
South Korea's largest styrene monomer (SM) producer Hanwha Total is planning to further reduce operating rates.
News ID: 8005 Publish Date : 2019/12/18
South Korea's LG Chem plans to reduce operating rates at its 1.27mn t/yr Daesan cracker by 5pc to 95pc from January because of squeezed production margins.
News ID: 8003 Publish Date : 2019/12/18
South Korea's S-Oil has settled its first term 2020 paraxylene (PX) contract, which includes an Argus cfr Taiwan/China component, with China's Shenghong Petrochemical.
News ID: 7982 Publish Date : 2019/12/16
South Korea is in talks with the United States over Iran’s call for Seoul to resume exports of humanitarian goods to Tehran, a report said.
News ID: 7955 Publish Date : 2019/12/14
Lackadaisical European hot-rolled coil (HRC) demand is resulting in a very slow drawdown of the duty-free quota from the top six importing countries to the EU 28.
News ID: 7904 Publish Date : 2019/12/11
South Korean leading EAF steelmaker - Hyundai Steel has resumed bidding for Japanese scrap this week after a couple of weeks. Company's bid have remain unchanged in last couple of weeks.
News ID: 7096 Publish Date : 2019/10/25
As per the data released by the World Steel Association (WSA), total crude steel production of 64 steel manufacturing countries stood at 1,391.067 MnT in (Jan-Sep) CY'19 as compared with 1,339.494 MnT in a similar time frame of CY'18.
News ID: 7091 Publish Date : 2019/10/25
According to customs data maintained with SteelMint, South Korean mills have registered a sharp increase in bulk scrap bookings from US. South Korea scrap import bookings from US have increased over four-fold to 66,753 MT in Sept'19 against 15,923 MT in Aug'19.
News ID: 6860 Publish Date : 2019/10/12
South Korean exports of electric vehicles (EVs) during January-September rose by 144pc from a year earlier to 49,160 units, supporting increased demand for cobalt and other key battery materials.
News ID: 6800 Publish Date : 2019/10/21
SteelMint in conversation with sources learned that Hyundai Steel has booked 45,000 MT HMS 1 scrap from US recently for Dec shipment.The deal was learned to have concluded at USD 244/MT, CFR basis. It is to be noted that with recent booking, bulk scrap bookings have come down by around USD 30. Prior to this in mid Sept'19, Hyundai Steel booked 45,000 HMS 1 scrap from US for Nov shipment at USD 275/MT, CFR basis.
News ID: 6704 Publish Date : 2019/10/04
South Korea's Samsung SDI plans to invest 390bn forint ($1.29bn) in an expansion of its electric vehicle (EV) battery plant in Hungary, but a European Commission investigation of government incentives pledged to the company could complicate the project.
News ID: 6670 Publish Date : 2019/10/16
Chinese export coil prices have held at a premium to delivered Asean prices since mid-August. China in the past has pulled Asean prices higher to flip back to a discount, but this time the market expects China will be pulled lower.
News ID: 6581 Publish Date : 2019/10/09
South Korean Ambassador to Iran Ryu Jeong-Hyun highlighted the East Asian country’s willingness to boost economic cooperation with the Islamic Republic and said the level of bilateral trade should return to that of the pre-sanctions era.
News ID: 6570 Publish Date : 2019/10/08
The 9th Asia Steel Forum- 2019, co-sponsored by Shanghai Ganglian E-Commerce Co., Ltd. (Mysteel), South Korea Steel & Steel, Japan Metal Daily, was held at 18-20 Sept’19 in Shanghai. The forum was attended by stalwarts from the steel industry across the globe. SteelMint was Media Partner for the event and the key takeaways from the conference were as follows:
News ID: 6476 Publish Date : 2019/09/21
