Metallurgy news

• The price of gold has reached a new all-time high Gold jumped to a new record high on Friday after three straight weeks of gains on bets that U.S. interest rates could soon be cut and on safe-haven buying amid turmoil in the Middle East and elsewhere. New York gold futures rose 1.6% on Friday to close at $2,089.70 an ounce, topping the previous... 04.12.2023  12:25

• Thyssenkrupp will close its Galmeda plant in Spain Germany's Thyssenkrupp is closing its Spanish plant Galmed (FBA9), located near Valencia, the company confirmed when contacted by Callanish. The Sagunto plant can produce 450,000 tons of hot-dip galvanized coils per year. The material is mainly supplied to the automotive sector. The German... 29.11.2023  13:00

• EU and US miss unique opportunity to resolve trade dispute The outcome of the EU Trade Council meeting shows that the EU and US are still far from reaching an agreement on climate protection, combating trade imbalances in global industry and resolving the EU-US trade dispute by the end of 2023, as originally agreed by Commission President Ursula von der... 29.11.2023  12:57

• Strike by Polish truckers threatens pipe supplies from Ukraine Ukrainian pipe companies increased production in January-September, reports the national association of pipemakers Ukrtruboprom. The total volume amounted to 376.1 thousand tons, which is 5.1% more than a year earlier, Callanish notes. However, in September alone, production reached 36.9... 29.11.2023  12:51

• China's stainless steel imports hit intra-year high in October China's stainless steel imports reached 284,200 tons in October, up 22.8% from September and hitting a new high this year, but tonnage was still 8% lower, according to data released by the country's General Administration of Economic Affairs. .6% compared to October 2022. Customs (GACC). The... 22.11.2023  13:01

• EU to hold second hydrogen auction in spring 2024 The European Commission will open a second round of auctions to support EU renewable hydrogen production in spring 2024, EU President Ursula von der Leyen announced on Monday. The European Hydrogen Bank, created last October, will have a budget of 3 billion euros ($3.3 billion). The first pilot... 22.11.2023  12:52

• ArcelorMittal Zenica stops production due to market conditions ArcelorMittal's Zenica steel plant in Bosnia has temporarily suspended production due to weak market conditions. “After careful consideration and evaluation of all available options, ArcelorMittal Zenica temporarily shut down its blast furnace on November 11, and production is gradually being s... 22.11.2023  12:49

• Iran produced more than 11 million tons of metal products in the first half of the year Iran produced 11.112 million tons of steel products in the first half of the current Iranian calendar year (March 21-September 22), the Iran Steel Producers Association (ISPA) reported. The Iranian steel industry has been constantly developing in recent years, despite all the pressures and... 07.11.2023  12:30

• China scrap steel prices may rise in November Scrap steel prices in the country fell significantly in October as steel producers lowered scrap procurement prices to reduce production costs, Mysteel Global said. As of October 31, China's Mysteel scrap steel index was 2,892.7 yuan per ton ($406.4 per ton), including 13% VAT, down 2.9% from... 07.11.2023  12:25

• Nippon Steel drops patent lawsuits against Toyota and Mitsui Japan's Nippon Steel said it has dropped its lawsuits against Toyota Motor and Mitsui & Co over patents on electrical steel sheets, but continues to seek damages from China's Baoshan Iron & Steel (Baosteel). The Nippon Steel (5401.T) lawsuits, filed in 2021, sought damages from Toyota (7203.T) ,... 06.11.2023  12:19