Metallurgy news

• Export of hot-rolled steel from Turkey decreased in October According to the Turkish Statistical Institute (TUIK), Turkey's hot-rolled coil (HRC) exports totaled about 166,000 tons in October, down 43% from last year. The decline was mainly due to lower demand from the EU and the US. Among them, exports to Italy amounted to about 27,000 tons, down 59%... 12.12.2022  10:10

• European electricity tariffs rose in November due to rising demand It turned out that the European electrical charge in November was clearly higher. There are several reasons for this: wind power capacity in Northern Europe is declining, nuclear power in France is smaller, and demand for electricity and natural gas has increased due to the cold winter. European... 12.12.2022  10:08

• The British government approved the construction of a new coal mine, despite the protests of environmentalists The UK government gave the go-ahead for construction of the UK's first new coal mine in 30 years late on December 7 amid strong environmental opposition that could derail the project without a launch date being announced. West Cumbria Mining's Whitehouse Mine project at Whitehaven in the North... 09.12.2022  11:34

• Saudi Arabia to build world's tallest building using steel The Saudi Arabian Sovereign Fund, the Public Investment Fund (PIF), has invited companies to bid for a design competition to build a 2 km tower as part of an 18 km2 master planned development north of Riyadh, west of the existing King Khalid International Airport . The proposed tower will be... 09.12.2022  11:22

• Chinese steel exports grew by 0.4% y/y in January-November According to the latest data released by the General Administration of Customs of China (GACC), steel exports from China for January-November amounted to 61.95 million tons, showing a slight increase of 0.4% year on year compared to a fall of 1.8% year on year. calculation for the first 10... 08.12.2022  11:52

• ArcelorMittal acquires Dutch Riwald Recycling ArcelorMittal has acquired Riwald Recycling (Riwald), a modern ferrous scrap recycling facility based in the Netherlands. Riwald has two certified scrap yards and has processed over 330,000 tons of ferrous scrap in 2021 year. ArcelorMittal has purchased metal recycling for the third time this... 08.12.2022  11:50

• Scrap metal prices continue to rise in Turkey Since last week, all Turkish factories have continued to increase the purchase prices for scrap in the domestic market against the backdrop of a continuing increase in import prices. Mills' demand for domestic scrap remains strong, and they are also actively buying consumables such as... 08.12.2022  10:50

• Korean shipbuilders demand 20% reduction in steel plate prices from steelmakers South Korea's shipbuilding industry is asking steelmakers to lower steel sheet prices as raw material prices declined this month. Steel sheets over 6 mm thick, which are used to make ship hulls, account for about 20 percent of shipbuilding costs. The country's three largest shipbuilders... 07.12.2022  11:16

• USSK shuts down second blast furnace US Steel Kosice (USSK) closed its second blast furnace before early 2023 due to high energy costs and low demand. Two out of three DP firms are currently idle. On September 4, the company stopped blast furnace No. 2. It was originally intended to be a 60-day scheduled maintenance, but the plant... 07.12.2022  11:15

• POSCO Suspends Steel Sheet Supplies to Taiwan South Korean steelmaker POSCO still hasn't fully recovered from September's typhoon strike, adding that local demand remains weak and a truckers' strike has caused losses. For now, the company has decided to hold the steel plate offer for Taiwan's request. Market participants said that no... 07.12.2022  11:12