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IREPAS: Longs market outlook for next quarter unstable and unsatisfactory
The rebar price trend may also support the situation in the scrap segment, particularly if the projects announced in Turkey, Saudi Arabia and Europe kick in in the autumn.In the EU, the domestic market has gone quiet by August due to the holiday season, and both ordering from the market and pricing have remained low and flat.High interest rates continue to weigh on the steel business in the US in terms of the demand coming from both commercial and residential construction.Currently, IREPAS evaluates the longs market status as unstable and unpredictable for the next quarter, while the outlook for the ferrous scrap suppliers may be more positive.In fact, the most recently adopted sanctions are to create more complications for importers from Russia, with the EU having the right to request input origins.

🌎 International · 🗓️ August 10, 2023 · Steel

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France’s metal industry output down 1.0 percent in June from May
8 percent increase month on month in the previous month.6 percent month on month in the given month after going up by 0.8 percent on month-on-month basis in the previous month, while the output of the domestic construction industry fell by 2.5 percent quarter on quarter.In the April-June quarter, output of the domestic construction industry advanced by 0.

🌎 International · 🗓️ August 10, 2023 · Steel

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Turkey’s rebar exports decrease by 54.4 percent in January-June
3 percent year on year.Meanwhile, in the January-June period of this year, Turkey’s rebar exports amounted to 1.Turkey’s top 10 rebar export destinations in January-June 2023:Turkey’s main rebar export destinations on country basis in the January-June period this year are presented4 percent compared to the same period last year, while the revenue generated by these exports totaled $944.11 million, falling by 60.

🌎 International · 🗓️ August 10, 2023 · Steel

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Rio Tinto to work together with Metso for low-carbon iron-making plant
The process uses raw biomass instead of metallurgical coal as a reductant and microwave energy to convert Pilbara iron ore to metallic iron in the steelmaking process.This reduction process, when coupled with DRI Smelting technology, has high potential to reduce the carbon footprint of the traditional blast furnace steelmaking route.A small-scale Rio Tinto pilot plant in Germany has proved the effectiveness of its low-carbon iron-making process using ores, as SteelOrbis previously reported.

🌎 International · 🗓️ August 10, 2023 · Steel

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China’s iron ore imports up 6.9 percent in January-July
1 percent month on month.The demand for iron ore in China slackened in the latter half of July due to the negative impact on northern China caused by typhoons, which weakened iron ore prices and dragged down the import volume.In July alone, China imported 93.45 percent year on year, while decreasing by 2.476 million mt of iron ore, up 2.

🌎 International · 🗓️ August 10, 2023 · Steel

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