Metallurgy news

• POSCO donates remedies in Indonesia As part of its efforts to mitigate the impact of COVID-19, POSCO donated US $ 1 million in personal protective equipment and rapid test kits to Indonesia. POSCO distributed 32,000 Korean reusable masks to all employees and their families of PT Krakatau POSCO at Cilegon in Banten, as well as to... 14.05.2020  10:58

• China's steel production is boosted by government incentives China's iron and steel sector has already benefited from the country's rapid recovery from the Covid-19 outbreak and the restart of metal-intensive industries, while production and prices have declined in most other regions. Shanghai rebar prices are up 50 yuan /t ($ 7 /t) to yen 3,490, while... 14.05.2020  10:54

• S&P gives negative outlook for ArcelorMittal S&P Global Ratings affirmed its BBB credit rating for the world's largest steelmaker ArcelorMittal with a negative outlook amid continued pressure from weak market conditions. However, the rating agency said that the growth in demand for steel is already behind. "Manufacturing in Europe and the... 13.05.2020  10:49

• POSCO decides to cut production for the first time in 12 years POSCO decided to make its first production cut in 12 years since 2008. Even major steelmakers at home and abroad, such as ArcellorMittal and Hyundai Steel, cut production, but POSCO did not. However, the decline in demand due to the economic downturn eventually forced the steelmaker to revise... 12.05.2020  12:25

• A green revolution in the Australian steel industry Australia can benefit from an abundance of cheap wind and solar power to stem decades of recession in its steel industry. By leveraging the nation's iron ore resources and using hydrogen generated from renewable energy, Australia could capture about 6.5% of the global steel market, generate $... 12.05.2020  12:20

• China's steel exports and imports in April 2020 China's steel exports stood at 6.32 million tons in April 2020, according to the latest statistics from the General Administration of Customs, practically unchanged from 6.33 million tons shipped in April 2019. In January-April 2020, China exported 20.60 million tons of finished steel, down 11.7... 12.05.2020  12:08

• NLMK begins modernization process at a Belgian plant NLMK La Louvière, a leading flat steel producer in Belgium and part of the Russian NLMK group, received the first major equipment to modernize a hot strip mill, worth 150 million euros, which will allow the company to expand its production of thinner and stronger materials. As a result, more ... 11.05.2020  11:13

• AK Steel closes Dearborn plant AK Steel Corp reports that the Dearborn plant is closing due to rapidly deteriorating business conditions. The company is shutting down its 350-acre hot rolling, annealing and tempering mill, citing a rapidly deteriorating business environment. The closure will take effect on 5 July. The union has... 08.05.2020  10:35

• Metinvest's Italian subsidiaries reopened Italian factories Metinvest Group, Ferriera Valsider and Metinvest Trametal have resumed normal operations after the expiration of a decree from the Italian government to suspend work at the country's metallurgical plants due to the COVID-19 coronavirus pandemic. Ferriera Valsider resumed... 07.05.2020  12:31

• US Steel posted a net loss in Q1 2020 Pittsburgh-based United States Steel Corporation (US Steel) reported a net loss of $ 391 million, or $ 2.30 per diluted share, in the first quarter of this year. This compares to net income of $ 54 million or $ 0.31 per diluted share in the corresponding quarter last year. The company reported... 06.05.2020  10:53