Metallurgy news

• Steelmaker Hoa Phat posts big loss in fourth quarter Hoa Phat Group, Vietnam's largest construction steel company, posted a net loss of nearly VND2 trillion ($84.7 million) in the fourth quarter of last year, higher than a loss of roughly VND1.8 trillion. VND in the third quarter. The company's loss in the third quarter was its first quarterly... 24.01.2023  10:38

• Severstal, NLMK and MMK are trying to resolve the dispute with the Federal Antimonopoly Service amicably The largest Russian metallurgical companies Severstal, NLMK and MMK intended to negotiate and reach an agreement with the Federal Antimonopoly Service (FAS) of Russia on the metallurgical monopoly case. Earlier in February 2022, the Federal Antimonopoly Service of Russia believed that MMK, NLMK... 22.01.2023  10:45

• The price of copper on the exchange in London has reached another peak Copper on the London Metal Exchange (LME) hit a new high on January 18 when it soared to $9,550.5/t in the session before bouncing back to $9,292/t. According to market analysis, copper prices have rebounded since entry into 2023 on the back of easing epidemic control in Asia and the depreciation... 22.01.2023  10:39

• Britishvolt crashes British electric vehicle startup Britishvolt went into administration on Tuesday and named EY as its administrator. The company's attempts to sell a controlling interest fell through after months of uncertainty and worry for its 300 employees. Last week, Britishvolt said it was in talks about... 19.01.2023  12:00

• World Economic Forum predicts global recession in 2023 Nearly two-thirds of top economists expected a global recession in 2023, according to a report published by the World Economic Forum. in a survey previously conducted in September last year. Only a third of respondents believe that a global recession is unlikely this year. The latest World Bank... 19.01.2023  11:58

• Russia will build a new metallurgical plant The Russian authorities will begin this year the construction of the Neivastal metallurgical plant in Alapaevsk, the press service of the government of the Sverdlovsk region reports. The design capacity of the plant is 520,000 t/y of round steel and 290,000 t/y of grinding steel balls. The total... 19.01.2023  11:55

• EBRD provides loan to Serbian Metalfer for green steel production The European Bank for Reconstruction and Development (EBRD) has announced a €21.4 million loan to Serbian long products manufacturer Metalfer Steel Mill. The loan will be used to produce green steel, including the construction of a new rolling mill to process scrap and semi-finished products to i... 18.01.2023  12:10

• China reports record fossil fuel production China's fossil fuel production surged in 2022, with coal and gas hitting record highs as environmental targets took a back seat to energy security after a turbulent year for prices. That overshadowed some good climate news from the steel sector, where China is cutting production for the second year... 17.01.2023  10:40

• Export of thick-rolled steel from Brazil increased in December According to statistics, exports of thick steel from Brazil in December last year amounted to about 18,000 tons, up 42.9% from the previous month. These shipments were mainly exported by Usiminas, Gerdau and ArcelorMittal, who delivered about 11,500 tons, 5,100 tons and 1,200 tons respectively.... 17.01.2023  10:35

• India to seek EU steel quota and tariff easing in trade talks India will seek easing of quotas and tariffs on EU steel imports as it negotiates a new trade deal as Indian steelmakers struggle to sell the alloy in one of the world's largest markets. Last year, India and the EU resumed negotiations on a free trade agreement with the goal of completing... 16.01.2023  10:36