Metallurgy news
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Baosteel expects infrastructure to strongly support steel demand in ChinaBaoshan Steel said on Wednesday it expects steel demand in China to find strong support from both traditional and new infrastructure sectors in the final quarter of this year and next year, supported by the latest stimulus measures. China's top parliamentary body has approved a bill that will allow…
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Swedish SSAB's third-quarter profit beat forecastsSwedish steelmaker SSAB reported a smaller-than-expected fall in third-quarter operating profit on Wednesday, citing weak demand in Europe and a wider-than-usual seasonal slowdown. Group operating profit fell 34% to 4.37 billion Swedish crowns ($393.74 million) in the July-September period, beating…
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US and EU steel unions call for global deal that puts workers first“The time of cheap steel and non-ferrous metals produced under unfair market conditions and flooding open markets must end,” unions said. US-based steelworkers union and European steelworkers union IndustriAll on October 18 asked US and EU trade representatives to develop a Global Steel and…
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Posco promises to support Ukraine's recoveryChoi Jong-woo, chairman of South Korean steel company Posco, confirmed his intention to join and support Ukraine's post-war reconstruction efforts during a meeting last Friday. Choi met with Ukraine's ambassador to South Korea Dmitry Ponomarenko and Ukrainian lawmakers Andrei Nikolaenko and Sergei…
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US and EU discuss steel trade termsThe US and European Union are working to reach a steel trade deal despite carbon regulations and a self-imposed Oct. 31 deadline. The EU Carbon Boundary Adjustment Mechanism (CBAM) came into force on 1 October. It calls for compliance with the carbon pricing rules set out in the EU emissions…
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Turkish steel mill Kardemir aims to comply with European Green DealKardemir, Turkey's largest integrated long steel producer, will continue to invest in green steel and environmental protection in line with the European Green Deal. Highlighting that European and Turkish steelmakers have focused on investing in carbon reduction in recent years, Kardemir said it has…
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Russian billet suppliers remain out of exportRussian suppliers of steel billets remain largely outside the export market, reports Kallanish Two Russian plants reported receiving offers at $480 per tonne FOB Black Sea, but were hesitant to sell. This was compared to the desired level of $500-510/t FOB when Russia announced an exchange…
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SSAB sells ultra-low emission steelSteel group SSAB said its ultra-low emission steel grade SSAB Zero is being used by industrial equipment manufacturer Alfa Laval. Alfa Laval uses this grade of steel in heat exchangers, with plans to produce 100 units this year and “significantly more” in the future, SSAB said. Alfa Laval is…
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China's daily steel production fell in SeptemberChina's average daily steel production fell slightly in the middle of September, with tonnage down 7,200 tonnes/day, or 0.2%, from early September to an average of 3.03 million tonnes/day, according to Mysteel's estimate based on survey of 247 blast furnace (BA) and 87 electric arc (EA) steel mills…
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The Russian government is considering export duties on most goodsThe Russian Ministry of Finance and the Ministry of Economy are considering the possibility of introducing export duties on almost all types of goods from October 1 until the end of 2024. A source at the steel mill confirmed to Kallanish Commodities that these discussions are taking place. The ad…
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