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US rebar imports up 10.4 percent in August
Other top sources of imported rebar in August include Egypt, with 42,178 mt; Mexico, with 13,436 mt; Vietnam, with 11,456 mt; and Canada, with 8,502 mt.The US imported the most rebar from Algeria in August, with 73,593 mt, compared to 22,912 mt in July and 41,071 mt in August 2022.

🌎 International · 🗓️ October 09, 2023 · Steel

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Australia expects iron ore prices to drop to US$100/mt in 2023
The report pointed out that the benchmark iron ore price is projected to average around US$100/mt in 2023, around US$84/mt in 2024 and around US$76/mt in 2025.Following a strong rebound in iron ore prices to a peak of over US$120/mt in the June quarter, the benchmark iron ore spot price fell to around US$108/mt in August this year.Even though iron ore prices fluctuated in the April-September quarter, they have generally moderated since the beginning of this year, due to slowing global economic growth and weakness in the Chinese property sector.The export earnings forecast for the fiscal year 2023-24 has been revised up from A$110 billion in the previous report, reflecting a lower-than-expected exchange rate, slightly higher prices and a small increase in volumes.The price falls reflect slackened demand from Chinese mills.

🌎 International · 🗓️ October 09, 2023 · Steel

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New orders for US manufactured goods up 1.2 percent in August
0 billion.0 billion or 0.1 percent July increase.8 billion or 0.7 percent July increase.

🌎 International · 🗓️ October 09, 2023 · Steel

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Danieli to supply vertical slab caster to ArcelorMittal subsidiary
In this way, Industeel will be able to replace ingot casting to reduce transformation losses and eliminate the scarfing process.The equipment in question is scheduled to be commissioned by May 2025.Accordingly, the slab caster will produce carbon, stainless and nickel-based alloy slabs of a thickness up to 150 mm and of a width ranging from 1,500 to 2,100 mm.Industeel also operates another slab caster revamped by Danieli at its Charleroi plant in Belgium.

🌎 International · 🗓️ October 09, 2023 · Steel

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Al chips in to save $2 billion for Tata Steel
In a surprising convergence of technology and traditional industry, Tata Steel, a prominent player in the steel manufacturing sector, has harnessed the power of data and artificial intelligence (AI) to optimize its operations and drive substantial profits.He explains how data and AI have become integral components, comparable in importance to traditional raw materials like iron ore and coke.4 billion in savings, a testament to the effectiveness of their data-driven strategies.This transformative approach exemplifies how industries are evolving in the digital age, where data-driven insights and AI technologies are being harnessed to optimize processes, reduce costs, and enhance profitability in sectors previously perceived as 'physical' in nature, such as steel manufacturing.The company has recognized that, alongside essential raw materials like iron ore and coke, data plays an equally pivotal role in ensuring its profitability and sustainability.

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🇮🇳 India · 🗓️ October 09, 2023 · Building Material

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