Metallurgy news

• Posco implements new projects in Malaysia South Korean steelmaker Posco Group is implementing a carbon capture and storage (CCS) project in Sarawak, Malaysia. Posco Holdings, Posco International, Posco E&C and Malaysian oil and gas company Petros signed a memorandum of understanding (MoU) on the CCS project on December 12, 2022. “In a... 05.01.2023  10:27

• Scrap metal suppliers expect higher prices in Turkey Post-holiday target prices for scrap metal suppliers are even higher, although there is little supply in the Turkish scrap market due to the ongoing holidays in some supplier countries. The latest booking was confirmed from the EU at an average price of $402 per ton for 30,000 tons HMS 1&2... 04.01.2023  12:17

• Accident at a nickel plant in Indonesia could lead to a rise in nickel prices again There has been market news that a major nickel mine in Indonesia has suffered an accident at work, leading to protest by a large number of employees, which could affect operations. The incident could again lead to a sharp increase in high world prices for nickel. It became known that a few days... 03.01.2023  11:55

• Tata Steel: Britain will need 10 million tons of steel Tata Steel UK has indicated that the UK will need more than 10 million tons of steel in the coming years to provide itself with more energy. Among them, the construction of thousands of wind turbines by 2030 will require more than 5 million tons of steel. In addition, by 2050, solar projects and... 03.01.2023  11:54

• South Korean steel industry suffers huge losses due to truckers' strike When the Longshoremen Solidarity Union (CTSU) called off the strike, South Korea's logistical difficulties were finally resolved. However, the strike has already resulted in the suspension of the transportation of 920,000 tons of goods, which also meant that the local steel industry suffered a huge... 03.01.2023  11:52

• Turkish Yıldız Demir Çelik invests in new smelter and rolling mill The Turkish Ministry of Environment and Urbanization has announced that the Environmental Impact Review and Assessment (EIA) process has begun for a project proposed by Turkish steelmaker Yıldız Demir Çelik Sanayi A.Ş. build a new smelter and rolling mill in Kartepe, Kocaeli province. The pro... 31.12.2022  14:27

• Russia and India plan to abandon the use of dollars and euros in bilateral trade Russia and India planned to abandon the use of dollars and euros in bilateral settlements and conduct all trade transactions in rupees and rubles. Zamir Kabulov, head of India at Russia's foreign ministry, said that while it was a decision in principle for both sides, the trade imbalance needed to... 31.12.2022  14:16

• KAMET-STEEL resumes production of blast furnaces The Ukrainian company Kamet Steel (KAMET-STAL), part of the Metinvest group, has resumed the production of blast furnaces. The company had previously been forced to halt production due to power outages due to heavy Russian shelling. During the downtime, Kamet Steel worked to evaluate equipment... 31.12.2022  14:01

• Orders of China Steel Corp. for the first quarter of 2023 are growing rapidly China Steel Corp. said it is still hard at work on export orders for the first quarter of 2023. As the market trend improves, it is estimated that 150,000-200,000 tons more could be obtained than in the previous quarter. In the fourth quarter of this year, this coincided with the energy crisis... 30.12.2022  12:43

• Ferrexpo owner Zhevago leaves board of directors after arrest in France Konstantin Zhevago, the billionaire owner of Ukrainian iron maker Ferrexpo Plc, will leave the board of iron ore pellet maker after he was detained in France at the request of Ukrainian authorities. Zhevago was detained at a hotel in the luxury French ski resort of Courchevel on Tuesday by... 30.12.2022  12:40