EU HRC MILLS OFFER SIGNIFICANT DISCOUNTS TO INCREASE SALES. Northern mills saw less success than expected at the EUR 850 (USD 871) per ton pricing level, EXW Ruhr, according to Northern European sources, which saw lower HRC prices as doable. The source claimed...
AS OUTPUT DECLINES, JAPAN'S LEADING STEELMAKER PREDICTS A 6% DECLINE IN YEARLY EARNINGS Nippon Steel forecast a 6 percent decline in yearly net profit as a result of decreased output, a far smaller decline than analysts had anticipated because the company voiced confidence in its ability...
IRON ORE PRODUCTION AND SALES FOR THE INDIAN GOVERNMENT'S MINING PRODUCER FELL IN JULY At 2.05 million tons in July 2022, state-owned NMDC's iron ore output has decreased by nearly 33 percent YoY; 3.06 million tons of iron ore were produced by NMDC in July 2021. Sales for the firm decre...
CHINESE BUSINESSES COLLABORATE TO CREATE A SUPPLY CHAIN FOR LOW-CARBON AUTOMOBILE STEEL BMW Group and HBIS Group Co., Ltd., a state-owned Chinese iron and steel manufacturing behemoth, have signed an MoU to jointly develop an automotive steel supply chain that is low-carbon and environme...
NET PROFIT OF MEXICAN FIRM FALLS IN Q2 DUE TO RISING EXPENSES Due to rising sales costs and expenses, steel maker Ternium reported a 19% decline in net profit from the second quarter of the prior year. The business had a net profit of 936 million dollars. The co...
A POLISH BUSINESS WILL MODERNIZE THE EAF TRANSFORMER For its 48-t EAF in Stalowa Wola, Poland, Cognor has decided to replace the outdated transformer with Q-One technology, a Danieli Automation patent. Cognor, based in Poland, is an integrated manufact...
GERMAN STEELWORKS UPDATES CASTING TECHNOLOGY TO ENHANCE PRODUCT QUALITY At ArcelorMittal Bremen, the SST Casting AI software from Smart Steel Technologies has been successfully integrated. SST Casting AI and SST Surface AI are software programs designed to decrease surfac...
PRODUCTION AT A NEW HOT STRIP MILL IN KENTUCKY HAS BEGUN BY A US FIRM Nucor Steel Gallatin hired Danieli to modernize its hot strip factory in Ghent, Kentucky, in order to expand the selection of None [1] steel grades and boost strip production capacity. The first high...
BRAZILIAN MINER'S Q2 PROFIT DECLINES DUE TO DECLINING IRON ORE PRICES AND RISING EXPENSES Brazilian mining company Vale SA reported an 18.9 percent reduction in net income from the same period the previous year, mostly due to a significant drop in iron ore prices and rising expenses. One o...
INDONESIA PARTNERS WITH SOUTH KOREAN TO BUILD BLAST FURNACE AND COLD ROLLING MILL In order to jointly develop a blast furnace and cold rolling plant in Indonesia, state-run steelmaker Krakatau Steel and South Korean steel company Posco have signed a memorandum of agreement. Althoug...
INCHEON INTERNATIONAL AIRPORT PROJECT WILL USE STEEL FROM SOUTH KOREA'S LARGEST TRADING COMPANY According to the corporation, Posco International will provide 23,000 tons of steel for the development of Terminal 2 at Incheon International Airport. Posco intends to supply a steel wall and low-car...
US STEEL IMPORT GREW 14 PCT IN H1 2022 The American Iron and Steel Institute (AISI) announced that the U.S. imported a total of 2.8 million tons of steel in June 2022, including 2.2 million tons of None [1] completed stee l, based on prel...
