Metallurgy news

• 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

• Severstal denies interest in Thyssenkrupp assets Reuters reported that Russian steel giant Severstal has no plans to participate in industry consolidation in Europe. This statement effectively narrows down the list of potential partners for Germany's Thyssenkrupp. Severstal CFO Alexei Kulichenko told Reuters: "Europe does not look like an... 15.06.2020  13:36

• 2 Thyssenkrupp managers will soon be jailed in Italy Two German managers who were convicted of a fire in December 2007 at the Thyssenkrupp steel mill in Turin that killed seven workers will soon be jailed. Former CEO Harald Espenhan, whose sentence was reduced on appeal to 9 years and 8 months, and Gerald Prignitz, whose sentence was reduced to 6... 15.06.2020  13:27

• Workers' strike stops work at Tata Steel IJmuiden in Holland Workers at Dutch Tata Steel went on strike Wednesday to protest planned job cuts. Mine preparation workers laid down their tools at 2:00 p.m. local time, forcing blast furnaces and other operations at the Ijmeiden ironworks to stop. FNV union spokesman Roel Berguis said: "They want, among other... 12.06.2020  11:30

• MMK hits record for HRC production in May According to the company, in May the Magnitogorsk Iron and Steel Works (MMK) reached a record level of hot rolled coil production. The volume was 534,174 tons at the 2000 hot rolling mill, which is the largest monthly production. The previous record was set in July 2018 with 527,955 tons. Hot... 12.06.2020  11:23

• Slab prices continue to rise amid reduced supply Slab suppliers from the CIS exited the market this week, with only the Ukrainian supplier having raw materials for casting in August. In the absence of supplies from the CIS, the Turkish retailer has booked 20,000 tonnes of British-made slab at a price of US $ 375 per tonne franc by September... 11.06.2020  11:02

• Unions ArcelorMittal Poland asks Prime Minister to intervene The company is using the Covid-19 epidemic to achieve savings in employment costs and government subsidies, according to union activists. ArcelorMittal Poland is the largest steel producer in Poland - it collects about 70 percent of the production potential of the Polish metallurgy. At the... 11.06.2020  10:38

• Steel demand will not rebound until Q3 - Crisil Nearly 60% of respondents said they expect demand to rebound from the third quarter, according to a survey of steel producers by credit ratings agency Crisil, as infrastructure and construction work picks up steam, migrant workers return to work, and government fiscal measures improve... 11.06.2020  10:09

• Steel market in China is preparing for a strong spurt in the summer Steel demand in China will significantly surpass last year's levels from mid-June to mid-July, driven by robust iron ore prices and growing strong demand after the Covid-19 restrictions were lifted earlier this year. However, according to market participants, high production and import volumes... 10.06.2020  11:16