Metallurgy news

• China promises to further cut outdated coal and steel capacities China will continue to cut its aging coal and steel production capacity this year, the country's chief economic planner said Thursday. The country will push forward supply-side structural reform in the steel sector, accelerate reductions in excess capacity and encourage green and innovative... 19.06.2020  10:54

• Trump Administration Prepares $ 1 Trillion Infrastructure Stimulus The Trump administration is preparing a $ 1 trillion infrastructure stimulus package targeting transportation projects as part of its quest to revitalize the world's largest economy. Sources said that "the MoT's preliminary version will reserve most of the funds for projects such as roads and... 18.06.2020  11:30

• US Steel expects weak results in Q2 2020 United States Steel Corporation has provided guidance for the second quarter of 2020 and an update on its latest liquidity requirements for the rest of the year. Adjusted EBITDA in the second quarter of 2020 is expected to be approximately (US $ 315), which excludes approximately US $ 100 million... 18.06.2020  11:25

• Raw steel production in Japan to drop significantly in 2020 Steel production in Japan is expected to be about 35 million tons between April and September and less than 80 million tons in the current fiscal year until the end of March, said the new head of the steel industry group. “This is my personal opinion, but I still expect Japan's crude steel p... 18.06.2020  11:17

• Dubai customs confiscate fake pipes Local media reported that Dubai Customs, after receiving a warning that four containers on board were carrying counterfeit oil and gas pipes, managed to thwart an attempt to smuggle 58 fake Vallourec oil and gas pipes into the country. The containers were tracked and recovered after a thorough... 17.06.2020  12:12

• Metinvest Severny GOK modernizes equipment The Northern Iron Ore Beneficiation Plant of Metinvest Group is modernizing induction machines in workshop No. 1 for the production of pellets. The company has allocated 270 million UAH for the renovation of production equipment. The modernization of the LURGI 278A and OK 306 induction machines is... 17.06.2020  12:10

• Severstal plans to increase steel exports Russian steelmaker Severstal expects domestic demand to fall 5-7% in 2020 compared to 2019 as a result of the coronavirus outbreak, but says the increase in exports has allowed it to continue production to full capacity. Severstal CFO Alexey Kulichenko said: “The second quarter will be the most d... 17.06.2020  12:00

• Steel product sales through BUCE grew by 13% in January-May 2020 BelTA reported that sales of metal products through the Belarusian Universal Commodity Exchange increased by 13%, including thanks to the supply of steel from the Belarusian Metallurgical Plant. Belarusian Universal Commodity Exchange (BUCE) Roman Yaniv said: “In January-May, 12,500 tons of ferrous ... 16.06.2020  12:12

• Ezz Steel reports losses Ezz Steel Company recorded a consolidated loss of EGP 7.9 billion in 2019, compared with a loss of EGP 1.02 billion in 2018, an increase of 674.5 percent. Its sales dropped to 45.71 billion EGP, down from 49.116 billion EGP in 2018. According to separate results, the company's profit in 2019... 16.06.2020  12:10

• JSW Steel USA relaunches electric arc furnace and rolling mill in Ohio JSW Steel USA is relaunching its electric arc furnace, or EAF, and hot rolling mill at Mingo Junction in Ohio during the week of June 15, after work was temporarily suspended in mid-April when the company completed planned capital projects, JSW Steel USA. Ohio COO Mike Panzeri said in a business... 16.06.2020  11:48