Metallurgy news

• Russia reduces steel production to 2020 levels Since the beginning of the year, steel prices in Russia have fallen by more than a third and rolled back to the level of 2020, the Russian Steel Association confirms. “Steel prices have fallen by 35% since the beginning of the year, while production costs have risen by almost 50%,” Andrey Leo... 12.07.2022  11:34

• Daily steel production in China hit a 4-month low in early July Daily crude steel production in China continued to decline during the first ten days of July and hit a four-month low of 2.73 million tons per day, another 95,300 tons per day or 3.4% less than at the end of June, according to Mysteel. based on his regular data. survey among 247 blast-furnace and... 12.07.2022  11:32

• Steel production in India to double in 8 years India's steel production will double to 240 million tonnes over the next eight years, newly appointed steel minister Jyotiradithya Scindia said on Monday, July 11. “Steel makes an important contribution to the economic development of any country. Today, India is the second largest steel producer ... 12.07.2022  11:29

• bp and thyssenkrupp plan hydrogen steel deliveries bp and thyssenkrupp Steel have signed a memorandum of understanding aimed at developing long-term supplies of low-carbon hydrogen and renewable energy sources for steel production. Companies will explore options for supplying both blue and green hydrogen, as well as wind and solar power through... 11.07.2022  12:10

• Germany abandons zero-carbon target by 2035 Germany will revise its bill and cancel its goal of reaching zero carbon emissions in 2035 by restarting coal-fired power plants. Initially, Germany set itself an important climate goal to neutralize greenhouse gas emissions, which was supposed to ensure the development of the energy industry... 11.07.2022  12:07

• China's auto industry recovers, pushing steel demand up Auto sales in June were expected to reach 2.45 million vehicles, up 34.4% m/m and 20.9% y/y, according to the China Association of Automobile Manufacturers (CAAM) forecast. Sales are expected to reach 12 million vehicles in the first six months of 2022, down 7.1% year on year. Due to the... 11.07.2022  11:41

• Export duties on steel in India will be reduced The Government of India plans to reduce or eliminate the recently introduced export duties on key steel products, as well as increase the tax on the shipment of iron ore. The move comes amid concerns voiced by steelmakers that while domestic demand has remained weak in recent months, companies are... 11.07.2022  11:36

• China's steel industry is sounding the alarm due to crisis conditions President Xi Jinping has called for massive infrastructure development to save the economy, but this is unlikely to fully offset the loss of demand from the real estate sector. China's steel mills are sounding the alarm about the industry's downturn as margins tumble on weak demand. The... 09.07.2022  10:43

• Nippon Steel completes construction of new galvanizing line in Indonesia Nippon Steel Engineering Co., Ltd. announced the completion of a continuous galvanizing line for Indonesian steelmaker PT. Alexindo. The new galvanizing line will be used to produce hot dip galvanized steel and 55% aluminum zinc coated steel with excellent weather resistance and durability. This... 09.07.2022  10:39

• Russia to extend duties on scrap metal exports until the end of 2022 According to the report, the Russian Ministry of Industry and Energy proposed to extend export duties on scrap from August 1, 2022 until the end of the year. At the end of May, the Russian government extended this export tariff until 31 July. The ministry has previously said it does not plan to... 09.07.2022  10:33