Metallurgy news

• G7 to propose $600 billion plan to compete with China initiative The Group of Seven (G7), an intergovernmental organization made up of the world's largest developed economies, planned to raise $600 billion to build infrastructure in developing countries to compete with China's Belt and Road Initiative. The US and EU will offer US$200 billion and €300 billion, ... 01.07.2022  09:41

• Ukrainian Metinvest is trying to enter new markets in Europe Metinvest CEO Yuriy Ryzhenkov said that Metinvest will continue to develop coking coal production at the Pokrovsky coal mine in the Donetsk region and the Svyato-Varvarinskaya concentrator. He also said that demand for coal will continue into the next decade. It may be too early to worry about... 30.06.2022  10:31

• China extends duties on EU and UK fasteners by 5 years China's Ministry of Commerce announced on June 28 that it had decided to maintain anti-dumping (AD) duties on carbon steel fasteners made in the EU and the UK for another five years, saying the lifting of the existing AD measure would likely lead to a continuation or resumption of dumping in China.... 30.06.2022  10:26

• Zaporizhstal is considering cutting production due to logistical problems Ukrainian steelmaker Zaporizhstal is considering cutting production due to serious logistical problems. Most of the shipment routes passed through ports before the Russian-Ukrainian war, but there is still no access. As a result, stockpiles at the border in western Ukraine are excessive. Thus,... 30.06.2022  10:22

• US Steel Kosice stops blast furnace in Slovakia Slovak plate maker US Steel Kosice closed its smaller blast furnace in an attempt to balance supply with weak demand and prevent further price drops. Sources said the plant had to shut down the kiln because its location was heavily dependent on the automotive industry, but demand from automakers... 29.06.2022  10:45

• Chinese company Baosteel launches robots to improve operational efficiency According to the operating reports of the Chinese company Baoshan Iron and Steel Co., Ltd. (Baosteel), its new robot BAO Robot went into operation and helped Baosteel cut a total of 6,918 employees in 2020 and 2021 without hurting Baosteel's revenue and profit. On the contrary, from 2019 to 2021,... 29.06.2022  10:44

• Ukrzaliznytsia has limited the supply of iron ore to the Czech Republic The Ukrainian State Joint-Stock Company of Railway Transport Ukrzaliznytsia has introduced temporary restrictions on the transportation of iron and manganese ore to the Czech Republic. The restriction has been in effect since June 23, 2022, the date of its cancellation has not yet been... 29.06.2022  10:41

• Voestalpine to secure natural gas supplies after Russia cuts off supplies Voestalpine AG, one of the Austrian steel producers, said it was not affected by the restriction of gas supplies via the Nord Stream 1 gas pipeline from Russia. In addition, they are ready if Russia cuts off gas supplies. To expand various sources of natural gas supplies, the company currently... 29.06.2022  10:38

• Steel production in Ukraine decreased in January-May y/y According to statistics from the World Steel Association, in the first five months of 2022, Ukrainian steel mills reduced steel production by 52.8% to about 4.24 million tons year on year. At the same time, pig iron production decreased by 53.3% and amounted to about 4.15 million tons compared to... 28.06.2022  09:12

• Tata Steel announced the termination of cooperation with Russia Tata Steel said the corporation received 75,000 tons of coking coal from Russia in May, and the deal was completed before a decision was made on April 20 to stop business in Russia. According to an April 20 announcement, Tata Steel has already ended business with Russia. After this announcement... 28.06.2022  09:09