ESSAR AGREES TO SELL ARCELORMITTAL NIPPON STEEL ITS PORTS AND ELECTRICITY INFRASTRUCTURE ASSETS Essar Group announced a USD 2.4 billion deal to sell Arcelor Mittal Nippon Steel Ltd. its port operations. Essar said in a statement that it has signed final contracts with ArcelorMittal Nippon None ...
POSCO BEGINS DEVELOPING A DEMONSTRATION FACILITY FOR MANUFACTURING STEEL BY HYDROGEN REDUCTION In order to achieve its goal of being carbon-neutral by 2050, Posco began constructing a demonstration facility for manufacturing steel by hydrogen reduction. On July 26 at the Pohang Technical Resear...
INDIA'S STEEL CORPORATION WILL INCREASE ITS CAPACITY TO PRODUCE REBAR In the next three years, India's Shyam Steel, a maker of rebar, stated it wants to increase its revenue to INR 9,000 crore (USD 1.12 bln). In 2021–2022, the business had a 4,500 crore INR in revenue. ...
ARCELORMITTAL INCREASES HRC OFFERING TO COUNTER RISING ENERGY AND SHIPPING COSTS According to many market sources, ArcelorMittal has announced an increase in offers for all flat products throughout Europe. For October rolling and November production, new offers for HRC have been r...
SEPTEMBER EXPECTS A PRICE REDUCTION OF TOKYO STEEL IN RESPONSE TO WEAK DEMAND Amid sluggish local market and declining demand from automakers, Tokyo Steel Manufacturing Co. Ltd. decides to lower prices for steel product by up to 6.5 percent starting in September. Hot rolled co...
INDIA: SPONGE IRON PRODUCERS IS DITCHING COAL FROM SOUTH AFRICA FOR LESS EXPENSIVE MOZAMBIQUE ORIGIN 60,000 tonnes of coal from Mozambique have been ordered by at least 10 sponge iron and secondary None [1] steel plants in Odisha and Chattisgarh. Additional fifty or so have expressed interest in res...
CHINA: DESPITE A RECOVERY, THE FORECAST FOR IRON ORE REMAINS GLOOMY Iron ore futures in Dalian and Singapore increased on Monday as a result of China lowering its benchmark lending rate to assist the country's economy, but it is anticipated that the price increase wou...
WITH RISING ENERGY PRICES, ZINC AND ALUMINUM PRICES ARE PROJECTED TO RISE Industrial metals prices are being affected by sluggish economic development, but zinc and aluminum are anticipated to perform better if sky-high energy prices compel European smelters to further redu...
MALAYSIAN BUSINESS WILL INAUGURATE A NEW SLAB CASTER IN TERENGGANU Eastern Steel, a subsidiary of the Jianlong Group, in Malaysia hired Danieli to provide a cutting-edge slab caster so that it could offer the nation with high-quality goods that are now imported. Slab...
EU STEEL COMPANIES DECREASE PRODUCTION DUE TO WEAK DEMAND As the demand for steel is still low, a number of European steel producers have chosen to reduce production by turning off blast furnaces over the summer. None [1] Steel consumption has decreased as ...
CHINESE STEEL PRODUCTION DECLINES IN LATE JULY - CISA According to industrial statistics, the main steel mills in China reported a 7.25 percent decline in their average daily output of crude steel in late July compared to mid-July. As of the end of July,...
ROMANIA STEEL CORP. CONTINUES TO REDUCE OUTPUT DUE TO SLUGGISH DEMAND Due to a shortage of orders, ArcelorMittal Hunedoara in Romania, a subsidiary of the international steel production company ArcelorMittal, announced it has prolonged the period of decreased operation ...
