Metallurgy news

• Korea's POSCO sets up a joint venture for a new Indian steel mill Korea Iron and Steel Works Posco announced the formation of a Joint Working Group (JWG) with state-owned Rashtriya Ispat Nigam Limited (RINL) to open a new Greenfield steel plant in Visakhapatnam, South India. The two companies signed an initial investment agreement of approximately Rs 35,000... 20.08.2020  11:20

• Tata Steel Jamshedpur will switch to 12-hour shift Tata Steel's Jamshedpur plant, which pioneered an eight-hour shift for workers in the country, will switch to an extended 12-hour schedule later this month to contain the spread of Covid-19. The company has received approval from the Jharkhand government authorizing the change, which requires a... 19.08.2020  16:47

• BlueScope may close New Zealand steel plant Australian steelmaker BlueScope reported A $ 96.5 million ($ 69.79 million) net profit for the fiscal year 2019-2020 to June 2020, down 91% from a year earlier. This includes a cashless A $ 197 million write-off for the New Zealand and Pacific Islands segment. Underlying net income was AU $ 353... 19.08.2020  16:43

• Steel production in Iran increased by 5% Steel production in Iran increased by five percent in the first four months of the current Iranian calendar year (March 20 to July 21) compared to the same period last year. In the four months of the current Iranian year, 7.257 million tons of steel products were produced, in the first four... 19.08.2020  16:38

• Production results of MMC of Ukraine for 7 months 2020 The results of the activities of the MMC of Ukraine for 7 months of 2020 indicate that the difficult situation in the Ukrainian metallurgical industry remains associated with the crisis in the global steel market, exacerbated by the COVID-19 coronavirus pandemic. The main reasons for the decline... 18.08.2020  11:24

• China smelted record steel in July due to strong demand China produced a record amount of crude steel in July as the government increased spending on infrastructure, while the manufacturing sector rebounded after the world's second largest economy reopened after blocking restrictions. The world's largest steel producer produced 93.36 million tonnes... 18.08.2020  11:09

• The largest Japanese companies Nippon Steel, JFE and Kobe Steel recorded a loss The Japan Times reported that all three major Japanese steelmakers fell in negative territory in April-June as the coronavirus crisis forced automakers and other customers to suspend production, resulting in lower demand. Domestic leader Nippon Steel Corp reported a group net loss of 42 billion yen... 17.08.2020  09:14

• Miory Metallurgical Plant will debut at the Belarusian Commodity and Raw Materials Exchange in September On September 3, the first export trading in metal products produced by the Miory Metallurgical Plant will be held at the Belarusian Universal Commodity Exchange. The agreement was reached following negotiations between BUCE and Miory Steel. As BelTA was told by the press secretary of BUCE Roman... 17.08.2020  09:12

• NLMK participates in green startups initiative The Russian metallurgical company NLMK Group, which claims to be the largest steel producer in Russia and one of the most efficient in the world, has taken on the role of a strategic partner of GreenTech Startup Booster (GTSB), Russia's first accelerator of green startups. Sergey Chebotarev,... 14.08.2020  09:20

• Thyssenkrupp will continue to implement its restructuring plan CFO Klaus Keiberg said at a press conference that German steel mill Thyssenkrupp is still operating at "more than 60%" capacity, reiterating that there is no update on the joint venture or sale while negotiations are underway with unknown partners. Thyssenkrupp did not elaborate on plans for the... 14.08.2020  09:17