• 2022-12-02
    The abolition of the export duty on steel in India may increase the import of cheaper products to the domestic market of Turkiye Steel companies in Turkiye fear an increase in the import of cheaper steel products from India into the country after the Indian authorities canceled the export duty on steel. Ekonomim reports about it. Turkish steelmakers are worried about the lifting of tariffs by one of its biggest rivals, India, at a time when high energy costs are hampering the competitiveness of local steelmakers. “After India abolished duties on exports of steel products, local producers were concerned about the possible aggressive entry of Indian steelmakers into the Turkish domestic market. In addition, competition between the two countries is expected to increase in other markets,” the report said. Steel production in Turkiye in October 2022 dec...
  • 2022-11-30
    Source: November 26, 2022 16:25    Xinhua BEIJING, Nov. 26 -- China has approved the establishment of comprehensive pilot zones for cross-border e-commerce in another 33 cities and regions, in its latest bid to boost foreign trade growth. This is the seventh batch of such pilot areas, which lifted the tally to 165 across the country. Many of the latest batch of comprehensive pilot zones for cross-border e-commerce are located in central and western China as well as the country's border areas. The pilot zones are expected to help facilitate the transformation and upgrading of traditional industries, and optimize and upgrade foreign trade. China's cross-border e-commerce has been growing fast in recent years. Its trade volume has ballooned by nearly 10 times in the past five years, reaching 1.92 trillion yuan (about 269.14 billion U.S. dollars) ...
  • 2022-11-25
    Source: thehindubusinessline.com The rise coincided with the time Indian mills went slow on production in view of monsoons, global demand slowdown and recessionary pressures Russia has emerged the biggest exporter of pig iron — a key steel making raw material — to India for the April-September (H1) period of FY23. Data from the Steel Ministry, accessed by businessline, show that in H1 FY23 nearly 31,700 tonnes of pig iron came into India, of which 26,600 tonnes (or 84 per cent) was from Russia. In values terms, nearly ₹100 crore worth pig iron was imported from Russia (at ₹30,000 per tonne approximately). Pig iron is crude iron and is the direct product of the blast furnace and is refined to produce steel, wrought iron, or ingot iron. Import of the raw material skyrocketed in September this year — up by 3,386 per cent YoY to 27,500 tonnes...
  • 2022-11-22
    In January-August 2022, supplies of Ukrainian pig iron to Turkish steelmakers decreased by 41.7% year-on-year Steel enterprises of Turkiye in August 2022 increased the import of pig iron from Ukraine by 60% compared to the same month of 2021 – up to 20.9 thousand tons. This is evidenced by the data of the Turkish Statistical Institute, reports SteelOrbis.   In January-August 2022, deliveries of Ukrainian pig iron to Turkiye amounted to 121.43 thousand tons, which is 41.7% less than in 8 months of 2021. The decrease in the indicator is mainly related to the war in Ukraine and the blockade of Ukrainian seaports, which makes the traditional way of delivering products to customers impossible.   In total, in 8 months of 2022, Turkiye imported 1.07 million tons of pig iron, which is 38.7% more than in the same period of 2021. In August, imports amount...
  • 2022-11-21
    Posted on 19 November 2022 by APEC 2022 We, the Economic Leaders of APEC, met in-person for the first time in four years in Bangkok on 18-19 November 2022. We continue the implementation of the APEC Putrajaya Vision 2040, including through the Aotearoa Plan of Action. This year, under the APEC theme “Open. Connect. Balance.”, we advance work through three priorities: to be open to all opportunities, connected in all dimensions, and balanced in all aspects, to advance long-term robust, innovative and inclusive economic growth as well as sustainability objectives in the Asia-Pacific region. We have been intensifying our efforts in responding to the COVID-19 pandemic and mitigating its impact on our people and economies to promote health and wellbeing, as well as improving the overall standard of living for all. This year, we have also witnesse...
  • 2022-11-18
    Source: noricangroup.com We have acquired US-based Simpson Technologies, experts in equipment for the mixing, cooling, handling, reclamation and analysis of sand. The 110-year-old family business is based in Aurora, Illinois, and has subsidiaries in Germany and India and has a significant footprint in both foundry and chemical process industries. Joining us will expand Simpson’s global reach, offer a one-stop shop for joint foundry customers and give chemical process industry customers access to our leading digital technologies through our Monitizer brand. For us, the acquisition is a natural extension of our complete foundry offering, strengthening our capabilities in sand preparation, reclamation and laboratory testing. The Simpson brand will sit alongside our four technology brands – DISA, ItalPresseGauss, StrikoWestofen and Wheelabrator – ...