EARNINGS OF AN AUSTRALIAN STEEL MANUFACTURER FELL BY 29% IN THE FIRST HALF OF 2022 Rio Tinto, a mining company, reported a 29 percent decline in first-half earnings due to lower iron ore prices brought on by a slowing in demand from main client China, greater expenses, and labor sho...
THE EARNINGS OF AN INDIAN STEEL COMPANY FELL BY 13 PERCENT FROM APRIL TO JUNE OF 2022 In the June quarter of the current fiscal year, Tata Steel recorded a consolidated profit after tax of INR 7,765 crore (USD 972.9 million), a decrease of 12.8 pct from the comparable quarter of the pr...
IRON ORE FUTURES RISE ON EXPECTATIONS OF A THIRD-QUARTER CHINESE ECONOMIC RECOVERY On Monday, iron ore futures surged, continuing a rise that had been sparked by expectations for a third-quarter economic recovery in China, the world's largest None [1] producer and user of steel , a...
DESPITE UNCLEAR PROSPECTS, A SWEDISH CORPORATION REPORTS RECORD PROFITS IN Q2 DUE TO INCREASING STEEL PRICES According to SSAB's news statement, operational earnings at the Swedish corporation surpassed SEK 10 billion for the first time in a single quarter. However, the business issued a warning that among g...
DESPITE GROWING RAW MATERIAL COSTS, SOUTH KOREA'S HOLDING BUSINESS REPORTS A 4.5 PERCENT DECLINE IN Q2 PROFITS Posco Holdings of South Korea reported a 4.5 percent decline in operating profit for the second quarter, in line with company projections, as raw material costs increased more quickly than the pricing...
SWEDEN COMPANIES GET INTO AGREEMENTS FOR EQUITY INVESTMENTS, ENERGY SOLUTIONS, AND GREEN STEEL In programs that help the industrial start-production up's of green steel, Hitachi Energy collaborates with H2 Green Steel. The collaboration between the two businesses is described in a Memorandum of...
A MAJOR EUROPEAN CORPORATION IS RESEARCHING NEW TECHNOLOGY TO RECYCLE GARBAGE USING RENEWABLE HYDROGEN The HYMET project was started by Celsa Group, a pioneer in the production of low-emission, circular steel in Europe. Its goal is to research new technologies that can be used in the None [1] steel ind...
FOR AUGUST DELIVERIES, TAIWAN CORP. WILL LOWER DOMESTIC STEEL COSTS Given the weaker market demand and declining iron ore prices, Taiwan's China Steel Corp (CSC) announced it would drop domestic steel prices for deliveries starting next month by 5.61 percent. Accordin...
IRON ORE PRICES IN CHINA DECLINE AS STEEL FUTURES MAKE GAINS Chinese steel futures increased on Tuesday, supported by government initiatives to ease financial distress in the nation's troubled real estate sector, but iron ore prices decreased due to ongoing wor...
GERMAN BUSINESSES WORK TOGETHER TO CREATE LOW CARBON STRIP STEEL A partnership agreement covering the collaborative development and delivery of low-CO2 strip steel has been reached between Salzgitter AG and the Waelzholz Group. The agreement is originally valid unt...
INIDA STEEL BUSINESS MAKES SIGNIFICANT PROFIT IN APR-JUNE 2022 For the quarter that concluded on June 30, 2022, Jindal Steel and Power Limited (JSPL) announced a multifold increase in consolidated net profit to INR 2,770.88 crore (USD 347 mn). According to JSPL i...
JAPAN AND THE US HAVE SIGNED AN AGREEMENT TO RESEARCH LOW-CARBON, DRI-BASED STEELMAKING In order to speed the switch to lower carbon steelmaking, Anglo American and Nippon Steel Corporation have signed a memorandum of understanding. This collaboration will capitalize on the superior phys...
