Metallurgy news

• China is taking serious steps to reduce excess capacity The Ministry of Industry and Information Technology said China has taken major steps to eliminate excess capacity since 2016, cutting steel production by more than 150 million tons. Over the past four years, more than 140 million tons of substandard steel capacity has also been eliminated, said... 28.01.2020  12:10

• Turkish steel exports to US and EU fell in 2019 due to tariff increases Steel exports from Turkey to the US and European Union (EU) markets between January and November 2019 fell by almost 2.7 million tonnes from levels recorded a year earlier due to additional protective tariffs imposed by Washington and the bloc. Total exports of the Turkish steel industry to the... 28.01.2020  09:41

• India and US to resolve dispute over steel import duty India and the United States have agreed to peacefully resolve a dispute over US import duties on some Indian steel products, in which Washington is not yet fully compliant with WTO decisions. According to the WTO, the two countries continue to conduct good faith discussions in search of a positive... 27.01.2020  09:39

• Moody's revises TMK rating outlook from stable to positive Moody's Investors Service has affirmed the rating of one of the world's largest producers of steel pipes for the oil and gas industry. At the same time, Moody's affirmed the B1 rating of senior unsecured bonds issued by TMK Capital SA, a subsidiary of TMK. The rating outlook changed from stable to... 27.01.2020  09:32

• Turkish Cengiz confirms interest in acquisition of British company Turkish conglomerate Cengiz said on Sunday that it is ready to bid for British Steel if the deal with China's Jingye fails. Cengiz Holding CEO Omer Mafa stated that “British Steel is an important asset and we are following developments closely and are ready to place our bet on all of British S... 27.01.2020  09:24

• Steel production in Italy in 2019 below forecasts Steel production in Italy in 2019 fell 5.2% year-on-year to 23.24 million tonnes, according to the latest data released by the Italian steel association Federacciai, as the year ended with a production cut. In October, the association forecast a decline of 4% to 4.5%. Production of flat... 24.01.2020  09:41

• Chinese futures decline amid raging virus Shanghai steel futures extended losses in trading on Thursday ahead of the weeklong Lunar New Year hiatus amid fears that a new coronavirus outbreak in the country will hit construction activity. The best-selling steel rebar contract on the Shanghai Futures Exchange fell 0.4% to 3,523 yuan ($... 24.01.2020  09:35

• ArcelorMittal Taranto has 3 reported 3 explosions ANSA, citing trade union sources, reports that 3 explosions were recorded in furnace # 2 of the ArcelorMittal metallurgical plant in the southern city of Taranto on the night of Tuesday to Wednesday. Sources said no one was hurt, although the explosions caused extensive damage. Unions said the... 23.01.2020  12:50

• Thyssenkrupp CEO has a year to make fundamental decisions Thyssenkrupp CEO Ms Martina Merz plans to make all the major decisions needed to revive the ailing engineering group within one year of her planned tenure. Ms Merz said: “I am scheduled to join the Board of Directors for one year. By that time, all significant decisions will be made. " Martina M... 23.01.2020  12:45

• Brazil suspends licensing of Chinese iron ore project The Brazilian Federal Court of Montes Claros in the state of Minas Gerais has made a preliminary decision to suspend licensing procedures for the Sul Americana de Metais (SAM) iron ore project. SAM is a subsidiary of Honbridge Holdings in China. Projeto Bloco 8 includes an iron mine located in... 23.01.2020  12:44