The European stainless steel scrap market is facing a near-term demand crisis and high uncertainty going into the fourth quarter...

Exports to the three major destinations — South Korea, Vietnam and Taiwan, China.

The 2211 ferrosilicon contract price on ZCE closed at 8842 yuan per ton on October 10.

In the week ending on October 1, 2022, domestic raw steel production was 1,700,000 net tons while the capability utilization rate was 77.1 percent.

It was a 9.2% decrease from the 2,485,000 permit tons recorded in August and a 10.1% decrease from the August final imports total of 2,510,000.

The report highlights that, in 2021, shipments from domestic steel mills measured 94.7 million net tons (NT), up 16.9 percent from the previous year.

Hot-rolled coil advanced 2.3%, while stainless steel gained 0.3%.

The world’s steel production stood at 1.95 billion tonnes in 2021, according to the World Steel Association.