Metallurgy news

• Iran produced more than 11 million tons of metal products in the first half of the year Iran produced 11.112 million tons of steel products in the first half of the current Iranian calendar year (March 21-September 22), the Iran Steel Producers Association (ISPA) reported. The Iranian steel industry has been constantly developing in recent years, despite all the pressures and... 07.11.2023  12:30

• China scrap steel prices may rise in November Scrap steel prices in the country fell significantly in October as steel producers lowered scrap procurement prices to reduce production costs, Mysteel Global said. As of October 31, China's Mysteel scrap steel index was 2,892.7 yuan per ton ($406.4 per ton), including 13% VAT, down 2.9% from... 07.11.2023  12:25

• Nippon Steel drops patent lawsuits against Toyota and Mitsui Japan's Nippon Steel said it has dropped its lawsuits against Toyota Motor and Mitsui & Co over patents on electrical steel sheets, but continues to seek damages from China's Baoshan Iron & Steel (Baosteel). The Nippon Steel (5401.T) lawsuits, filed in 2021, sought damages from Toyota (7203.T) ,... 06.11.2023  12:19

• Malaysian government plans to address excess capacity in the region The Malaysian government plans to work with China and Southeast Asian authorities to address overcapacity in the steel industry. “The problem [in the steel industry] is overcapacity. I hope that the Malaysian steel industry, together with the government, can have more dialogue and also work more ... 06.11.2023  12:14

• US to extend suspension of steel and aluminum tariffs for EU The US will continue to suspend Section 232 tariffs on EU steel while both organizations actively work to reach an agreement. Ambassador to the European Union Mark Gitenstein explained that the United States does not intend to restore the 25% tariffs on steel imports in the near future. US... 31.10.2023  12:21

• Gestamp buys carbon-free steel from SSAB Gestamp has signed an agreement with Swedish steelmaker SSAB to purchase fossil fuel-free steel for the production of body and chassis systems, officials from the Spanish auto components company said. According to Gestamp, the agreement represents a new step in a multi-year partnership with SSAB,... 31.10.2023  12:17

• Baosteel expects infrastructure to strongly support steel demand in China Baoshan Steel said on Wednesday it expects steel demand in China to find strong support from both traditional and new infrastructure sectors in the final quarter of this year and next year, supported by the latest stimulus measures. China's top parliamentary body has approved a bill that will... 25.10.2023  11:35

• Swedish SSAB's third-quarter profit beat forecasts Swedish steelmaker SSAB reported a smaller-than-expected fall in third-quarter operating profit on Wednesday, citing weak demand in Europe and a wider-than-usual seasonal slowdown. Group operating profit fell 34% to 4.37 billion Swedish crowns ($393.74 million) in the July-September period,... 25.10.2023  11:30

• US and EU steel unions call for global deal that puts workers first “The time of cheap steel and non-ferrous metals produced under unfair market conditions and flooding open markets must end,” unions said. US-based steelworkers union and European steelworkers union IndustriAll on October 18 asked US and EU trade representatives to develop a Global Steel and Alu... 19.10.2023  13:16

• Posco promises to support Ukraine's recovery Choi Jong-woo, chairman of South Korean steel company Posco, confirmed his intention to join and support Ukraine's post-war reconstruction efforts during a meeting last Friday. Choi met with Ukraine's ambassador to South Korea Dmitry Ponomarenko and Ukrainian lawmakers Andrei Nikolaenko and... 12.10.2023  19:02