Metallurgy news

• Economic and steel market prospects 2020-2021 - EUROFER The European Steel Association EUROFER said that “the outbreak of COVID-19 has resulted in lower steel consumption forecasts and a lower overall economic forecast. Shutdown measures taken by governments since March 2020 have seriously impacted production activity and the use of steel in industry. H... 26.05.2020  10:56

• Bayou Steel's laid-off workers sue owners A group of former Bayou Steel employees are suing the former owners of the LaPlace plant, claiming they deliberately waived their employment contract without warning before closing the plant last year. Their lawsuit alleges that Black Diamond and owner Stephen Deckoff negotiated a new employment... 22.05.2020  10:26

• TMK announces first quarter results PJSC TMK, the world's leading manufacturer of tubular products for the oil and gas industry, announces interim consolidated financial results under IFRS for the three months ended March 31, 2020. TMK CEO Igor Korytko said: “In Q1 2020, the Group showed a weaker quarter compared to the same period l... 22.05.2020  10:23

• China Accelerates Infrastructure Investment Supporting Steel Demand China has accelerated its pace of approvals for new infrastructure projects in 2020, and more support is expected to be announced during the "two meetings" starting this week in Beijing, which will boost steel demand. China approved nine airport projects in January-April with a total investment... 21.05.2020  15:15

• ArcelorMittal stops production in Bosnia ArcelorMittal suspended production at its Bosnian steel plant and the mines that supply it with iron ore for 10 days due to falling demand caused by the lockdown in response to the coronavirus pandemic, and sent 80% of its workers home. ArcelorMittal Zenica said that since the outbreak began, its... 21.05.2020  15:09

• EU gives ArcelorMittal a loan to expand carbon reduction technologies The European Investment Bank, with the support of the European Commission, provided ArcelorMittal with a € 75 million loan to build two groundbreaking projects at ArcelorMittal Ghent in Belgium to significantly reduce carbon emissions by converting waste and by-products into value. new products to h... 20.05.2020  11:04

• AISI reports downturn in US steel production US domestic steel production data released by the American Iron and Steel Institute (AISI) over the past week suggests further declines in capacity utilization in the US. Compared to the same period last year, production this week decreased by more than 37%. Production for the corresponding week... 20.05.2020  10:05

• British Steel's new owner looks forward to UK government loans Jingye, the new Chinese owner of British Steel, is seeking another £ 100 million in taxpayer support less than three months after completing the takeover of his bankrupt Scunthorpe-based group. Sky News has learned that the Jingye Group, which acquired the steelmaker in March, has asked the ... 19.05.2020  10:43

• Thyssenkrupp steel production cut Thyssenkrupp expects steel production to contract until the summer, depending on how end-user markets develop, as well as the pandemic. Thyssenkrupp CFO Klaus Keisberg said: “Production cuts are likely to take place until the summer, depending on how the pandemic and demand develop further. The i... 19.05.2020  10:28

• EU steel production outstrips demand Steelmakers in the European Union should be careful when reopening capacity as the COVID-19 lockdown is eased as they risk creating a demand vacuum that will exacerbate downward pressure on prices, analysts and sources say. While factories continue to restrict production, they remain ahead of... 18.05.2020  09:47