Metallurgy news

• Reducing steel production in South Korea and Japan A large-scale strike by Hyundai truck drivers in early July delayed the delivery of some 400,000 tons of steel. The strike also affected POSCO by suspending its wire rod and cold coil production lines. However, with the end of the strike at the end of July, production resumed. POSCO's production... 07.07.2022  14:15

• Crude steel production in India increased India's crude production in the second quarter was about 31.4 million tonnes, up 12.2% year on year, of which June production was up 11.5% year on year but down 1.6% from May 2022 of the year. 15% export duty on some steel products, resulting in a reduction in production. For example, JSW... 07.07.2022  13:47

• China may report a 2-3% reduction in crude steel production in 2022 According to industry sources, China is likely to announce a reduction in the 2022 steel production cut target in July by 20-30 million tons, or 2-3% year on year. A reduction in steel output at this level may not provide much of a boost to the Chinese steel market as annual steel demand, dented... 06.07.2022  14:06

• G7 to propose $600bn plan to compete with China The Group of Seven (G7), an intergovernmental organization made up of the world's largest developed economies, planned to raise $600 billion to build infrastructure in developing countries to compete with China's Belt and Road Initiative. The US and EU will offer US$200 billion and €300 billion, ... 05.07.2022  11:48

• Philippines builds first integrated steel plant with 20,000 jobs A Davao-based company in Zamboanga Sibugay, Philippines, has begun construction on a 100-hectare industrial park and the country's first integrated bar and smelter. Mount Zynai Industrial Park (MZIP) chairman and chief operating officer said the project cost about US$1 billion. At the first... 05.07.2022  11:44

• Russia will review the program for the development of hydrogen energy After the termination of cooperation with Europe, the Ministry of Energy of Russia initiates a revision of the hydrogen energy development program, taking into account the priority of supplies to the domestic market and to the Asia-Pacific countries. Nikolay Shulginov, Russian Minister of... 01.07.2022  09:51

• US Steel to Launch First DR Pellet Plant This fall, US Steel decided to invest $150 million to build the first direct reduced pellet plant at an iron landfill. The plant will be in Kitaka in Kivatin or Minntaka in Mountain Iron. Once the new pelletizing plant is completed, the company may sell the new pellets to third party direct... 01.07.2022  09:50

• Romania will again produce its own fittings After acquiring COS Targoviste in March this year, AFV Beltrame Group, one of the largest producers of rolled steel and special steels in Europe, started using the new Donalam brand for recruitment and invested about 100 billion euros in equipment upgrades and 80% of the budget will go to the... 01.07.2022  09:47

• G7 to propose $600 billion plan to compete with China initiative The Group of Seven (G7), an intergovernmental organization made up of the world's largest developed economies, planned to raise $600 billion to build infrastructure in developing countries to compete with China's Belt and Road Initiative. The US and EU will offer US$200 billion and €300 billion, ... 01.07.2022  09:41

• Ukrainian Metinvest is trying to enter new markets in Europe Metinvest CEO Yuriy Ryzhenkov said that Metinvest will continue to develop coking coal production at the Pokrovsky coal mine in the Donetsk region and the Svyato-Varvarinskaya concentrator. He also said that demand for coal will continue into the next decade. It may be too early to worry about... 30.06.2022  10:31