Metallurgy news
-
US rig count holds steady as Canada adds sixThe number of active rigs in the United States stood at 603 in the week ended October 30, 2026, unchanged from the previous week, according to Baker Hughes.Gas rigs fell by two to 130, while oil rigs rose by two to 462. The total US rig count was up by 57 year over year.Canada added six rigs during…
-
Vale’s Q3 net profit drops 53% as iron ore costs riseBrazilian mining company Vale reported net profit of $1.275 billion in the third quarter of 2026, down 53% from $2.695 billion a year earlier. Revenue, however, increased 2% to $10.599 billion.The decline in profit came as production costs rose 20% to $7.94 billion. Gross profit fell 30% to $2.659…
-
Usiminas third-quarter profit falls 43.2%Brazilian steel and iron ore producer Usiminas reported net profit of $44.751 million for the third quarter of 2026, down 43.2% from the previous quarter.The company described market conditions as challenging, citing imbalances in global steel supply, volatility in international markets and…
-
Italy’s Supreme Court makes shutdown of former Ilva’s hot-end operations finalOn October 29, Italy’s Court of Cassation rejected all appeals by Acciaierie d’Italia and Ilva, making final the order to stop hot-end operations at the former Ilva steelworks in Taranto. The ruling cites risks to human health and the environment.The court’s Joint Civil Sections upheld a July 27…
-
European alliance proposes three tools to fund clean hydrogen projectsThe European Resilience Alliance for Clean Hydrogen & Derivatives (ERA) has called on the EU and national governments to provide targeted financial support and make regulation more predictable to accelerate investment in clean hydrogen production, infrastructure and industrial use. Its proposals…
-
LKAB returns to profit as third-quarter iron ore shipments riseSwedish mining company LKAB reported a net profit of SEK 934 million ($95.22 million) in the third quarter of 2026, compared with a loss of SEK 1.85 billion a year earlier. Revenue rose 6.2% to SEK 8.05 billion ($820.67 million), as higher shipments offset lower iron ore prices.Operating profit…
-
ArcelorMittal targets more than 20 million tonnes of Liberian iron ore exportsArcelorMittal’s cumulative investment in Liberia is nearing $4 billion. The company expects to export more than 20 million tonnes of iron ore from the country in 2027, up from less than 5 million tonnes in 2024. ArcelorMittal Liberia CEO Michiel van der Merwe announced the targets at the Liberia…
-
Acerinox and IGNIS to invest nearly €40m in Spanish plant decarbonizationSpanish steelmaker Acerinox and energy group IGNIS will carry out two emissions-reduction projects at the Campo de Gibraltar plant in Cádiz province. The facilities are expected to begin operating in December 2028 and, according to Acerinox, will cut carbon emissions by about 18,500 tonnes a year…
-
Toyota's global production and sales fall in the first nine months of 2026Toyota Motor said it produced 7,282,386 vehicles worldwide in January–September 2026, down 2.1% from a year earlier. Global sales for the period fell 3.4% to 7,515,873 vehicles.In September, Toyota's global output declined 3.2% year on year to 889,079 vehicles. Production in Japan rose 5.8% to…
-
Kryvyi Rih urges ArcelorMittal to keep steel plant operatingAuthorities in Kryvyi Rih have asked ArcelorMittal to reconsider reported plans to shut down ArcelorMittal Kryvyi Rih and mothball its production facilities. The city council says a closure could trigger mass job losses and create environmental risks.In a statement on October 28, the city council…
Pages
← previous
next →
