Metallurgy news

• POSCO plans to increase steel production capacity to 52 million tons by 2030 South Korean steelmaker POSCO planned to increase its annual steel output to 52 million tons by 2030. The company is also aiming to generate annual sales revenue of 100 trillion won by 2030, with operating income triple that of 2022. In addition, POSCO evaluates the development of high... 19.07.2023  11:23

• SSAB and Kirchhoff collaborate on fossil-free steel Swedish company SSAB and German car supplier Kirchhoff Automotive have announced a collaboration on fossil fuel-free steel. Steel is the main component of cold-formed body parts such as those made by Kirchhoff Automotive in southern Westphalia. Through this collaboration, safety-relevant Kirchhoff... 19.07.2023  11:09

• China and Vietnam increase share in India's steel imports Steel imports from India to China and Vietnam rose in June 2023 compared to the same period last year, according to official data. India's total steel imports reached 4.84 lakh metric tons (LMT) in June 2023, reflecting a 5.9% month-on-month increase (MoM) and a 7.6% increase, according to the... 17.07.2023  11:51

• Iron ore price rises on stimulus rates and low inventories Iron ore prices continued higher on Friday, bolstered by growing hopes for stimulus measures in China after weaker export data and lower inventories at both mills and ports. Benchmark 62 percent Fe fines imported into northern China changed hands at $116.52 a ton on Friday morning, up 4.25%,... 16.07.2023  13:58

• Liberty Steel wins tender to acquire Dunaferr Liberty Steel, through its subsidiary Liberty Steel Central Europe Kft, is set to acquire bankrupt Hungarian steelmaker Dunafrr for 55 million euros. The Dunaferra coke plant was ordered to close last December, but Liberty sent coal trains from Elk Creek in the US, CSM in the Czech Republic and... 13.07.2023  11:27

• Hyundai Steel launches low-carbon steel brand HyECOsteel Steelmaker ArcelorMittal has announced the launch of its XCarb™ innovation fund to fund decarbonization projects in India. Canadian company CHAR Technologies will act as an accelerator program for its XCarb™ by investing US$5 million in the company through ArcelorMittal's XCarb™ Innovation Fund.... 13.07.2023  11:25

• ArcelorMittal closes Fos-sur-Mer steel plant According to ArcelorMittal, steel production at the ArcelorMittal steel plant in Fos-sur-Mer in southern France will be stopped. The reason was the decision of the labor inspectorate, which revealed an excessively high level of exposure to toxic products and dust on workers, as well as... 03.07.2023  09:50

• Türkiye becomes the largest buyer of Chinese hot-rolled steel Turkey overtook Vietnam to become the largest buyer of Chinese hot-rolled coil in May, despite the start of an increase in import duties in the country. “Demand from Turkey was strong a couple of months ago, especially after the devastating earthquake in February. The higher import duties imposed b... 01.07.2023  09:11

• Hungary extends bid deadline for sale of Dunaferr steel plant The Hungarian government has extended the tender deadline for local flat steel producer Dunaferr, sources told Fastmarkets on Thursday, June 29. The previous application deadline was June 30, 2023, but it has been extended to July 14. to the document seen by Fastmarkets. “The liquidator may e... 01.07.2023  09:08

• UK extends anti-dumping duty on Chinese plate The UK Government has agreed to the recommendation of the Office of Remedies (TRA) to extend anti-dumping duties on plate of Chinese origin for another five years from 1 March 2022. The TRA issued its final decision on Wednesday after recommending in February that anti-dumping duties be... 01.07.2023  09:04