Metallurgy news

• European Commission approves sale of Thyssenkrupp elevator division Thyssenkrupp said the European Commission has approved the sale of the elevator division to a private equity consortium including Advent, Cinven and the German RAG foundation, paving the way for the closing of the deal. Thyssenkrupp said: "Under the contract with the buyers, it was agreed that the... 22.06.2020  12:44

• AISI Welcomes US Infrastructure Bill Adoption Thomas J. Gibson, President and Chief Executive Officer of the American Iron and Steel Institute, in response to the Commission on Transportation and Infrastructure Law "INVEST in America" ​​stated that “An efficient and reliable transportation network is essential to the competitiveness of the dome... 22.06.2020  12:28

• UK steel industry needs support Opposition MPs are urging the UK government to provide loans to steel companies facing a sudden drop in demand due to the coronavirus. Labor MP Stephen Kinnock said: “There can be no post-pandemic economic recovery without a strong and healthy steel industry. Nothing really can work in this country ... 22.06.2020  12:21

• Thyssenkrupp wins Steel Bee Delivery Drone Innovation Award The joint project of Innovation GmbH and Thyssenkrupp Steel Europe AG won the Federal Ministry of Economics' Research Award for Innovation. The award was presented by a five-member expert jury led by Thomas Jarzombek, Federal Government Commissioner for the Digital Economy and Startups. At... 19.06.2020  11:32

• ArcelorMittal receives approval to purchase steel producer HSM The Competition Tribunal has unconditionally approved a major merger that will result in ArcelorMittal SA acquiring the Highveld Structural Mill steel and rail business. According to the Tribunal, HSM, a subsidiary of Evraz Highveld Steel & Vanadium, is the only manufacturer of "heavy long steel... 19.06.2020  11:26

• China promises to further cut outdated coal and steel capacities China will continue to cut its aging coal and steel production capacity this year, the country's chief economic planner said Thursday. The country will push forward supply-side structural reform in the steel sector, accelerate reductions in excess capacity and encourage green and innovative... 19.06.2020  10:54

• Trump Administration Prepares $ 1 Trillion Infrastructure Stimulus The Trump administration is preparing a $ 1 trillion infrastructure stimulus package targeting transportation projects as part of its quest to revitalize the world's largest economy. Sources said that "the MoT's preliminary version will reserve most of the funds for projects such as roads and... 18.06.2020  11:30

• US Steel expects weak results in Q2 2020 United States Steel Corporation has provided guidance for the second quarter of 2020 and an update on its latest liquidity requirements for the rest of the year. Adjusted EBITDA in the second quarter of 2020 is expected to be approximately (US $ 315), which excludes approximately US $ 100 million... 18.06.2020  11:25

• Raw steel production in Japan to drop significantly in 2020 Steel production in Japan is expected to be about 35 million tons between April and September and less than 80 million tons in the current fiscal year until the end of March, said the new head of the steel industry group. “This is my personal opinion, but I still expect Japan's crude steel p... 18.06.2020  11:17

• Dubai customs confiscate fake pipes Local media reported that Dubai Customs, after receiving a warning that four containers on board were carrying counterfeit oil and gas pipes, managed to thwart an attempt to smuggle 58 fake Vallourec oil and gas pipes into the country. The containers were tracked and recovered after a thorough... 17.06.2020  12:12