Indian hot and cold rolled coil export activity continues to be slow to the EU market, with prices remaining unchanged week-on-week, Kallanish learns from sources. Slow EU sales are being driven by weak demand, lack of buyer interest, limited export material allocation by Indian mills, and a post-Labour Day holiday slowdown due to extended holidays. Indian mills have been prioritising the domestic market due to better price realisations since April. India also remains absent from the Gulf Cooperation Council market for similar reasons. As of 6 May, India-origin HRC offers were unchanged week-on-week at $650-660/tonne cfr Antwerp or Bilbao ports, or $595-605/t fob Mumbai, for S235 grade HRC, June/July shipment. Prices could be negotiated down to $640/t cfr. Comparatively, other Asian-origin offers to the EU ranged between $570-580/t cfr E...

Global steelmaker ArcelorMittal has announced a €30/t price increase for steel coils in Europe, effective for shipments in April, Kallanish reports, citing market sources. The company’s production facilities in Europe are currently at full capacity, and orders for the first quarter have already been placed. In the new quotas, the price of hot-rolled coil is set at €660/t (base delivered), while galvanized coil will rise to €780/t. Factors contributing to the price increase include import restrictions in the EU, which are forcing buyers to look for products on the domestic market. Some European countries have also seen an improvement in demand, which supports the growth of quotations. Meanwhile, the review of EU safeguards on steel imports continues. The EUROFER Association has submitted recommendations to the European Commission to ti...

Happy Forgings Ltd announced on Monday that it will invest Rs 650 crore to set up a state-of-the-art manufacturing facility aimed at catering to the non-automotive industrial sector. The company’s board has approved the capital investment, which will be used to develop advanced forging capabilities. Happy Forgings Ltd (HFL) specializes in manufacturing complex, safety-critical, heavy-forged, and high-precision machined components. HFL’s Managing Director, Ashish Garg, stated that this substantial investment will enhance the company’s ability to produce heavyweight components, helping it expand its presence in the industrial sector. “This initiative supports our plan to tap into a market with limited suppliers, focusing on precision-engineered, large-sized components. We expect this investment to drive our growth, increase profitability, a...

Forge Resources Group (FRG) is pleased to announce the acquisition of Oklahoma Forge Inc, Located in Tulsa, Oklahoma. Oklahoma Forge Inc. was founded in 1957. Today Oklahoma Forge Inc. capabilities include open die forging services, particularly for rolled rings, discs, and pot die forgings. Oklahoma Forge Inc. will continue to operate under the new moniker Oklahoma Forge Inc, a Division of Forge Resources Group.  Oklahoma Forge is the 8th FRG plant location. FRG is committed to providing a marketplace position as the premier metal solutions provider for our customers. We are thrilled with the opportunity that Oklahoma Forge Inc. provides for in this regard....

Expand the strategic layout of the entire channel and seek cooperation with source factories to accelerate the process of decentralization. Through digital means, we accurately analyze the needs of overseas customers and provide extended services such as product selection and design ideas, firmly "tying" their hearts.

The integration of information technology and industrial technology has significantly improved the digitalization level of China's manufacturing industry. By 2022, the CNC rate of key processes and the penetration rate of digital R&D design tools in industrial enterprises across the country will reach 58.6% and 77%, respectively. The development index of the industrial Internet platform reached 251, a year-on-year increase of 17%, and the growth rate exceeded 15% for four consecutive years....