Metallurgy news
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Strike continues at Hyundai Steel plantsSouth Korean steel maker Hyundai Steel is considering exporting semi-finished products as strikes by workers at its factories in Dangjin and Pohang continue. Local industry reports show that Hyundai Steel is pushing ahead with a plan to export semi-finished products such as boards produced at the…
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Baosteel maintains steel prices in DecemberThe Chinese company Baoshan Iron & Steel (Baosteel) has announced new prices for December. Prices for key products, such as hot-rolled and cold-rolled steel, remained at the same level. In line with the price adjustment, the base prices for plate, hot-rolled steel, cold-rolled steel, pickled steel…
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Goa has 260 million tons of iron ore reservesAccording to figures released by the Government Accounting Standards Advisory Board (GASAB), only 260 million tons of iron ore reserves remain in Goa, the Indian state on the southwest coast. The Goan government has launched an electronic auction for the sale of four iron ore blocks in the state…
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US to phase out a quarter of coal-fired power plants by 2029The U.S. Energy Information Administration (EIA) has indicated that by the end of 2029, almost a quarter of U.S. coal-fired power generation capacity will be phased out as natural gas power generation and sustainable energy grow. Of the 200,568 megawatts (MW) of coal-fired power plants currently in…
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EU and Kazakhstan establish strategic partnershipAt the Global Conference on Climate Change (COP27) in Egypt, European Commission President Ursula von der Leyen and Kazakh Prime Minister Alikhan Smailov signed a Memorandum of Understanding (MoU) establishing a strategic partnership between the EU and Kazakhstan. The agreement is aimed at ensuring…
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Vietnamese mills turn off blast furnaces to surviveTwo Vietnamese companies shut down their blast furnaces to minimize financial losses. Vietnam's Hoa Phat Group will shut down two blast furnaces at its Hoa Phat Dung Quat plant this month and plans to shut down a third blast furnace at the plant next month. Only one blast furnace will operate…
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Demand for steel pipes in Russia increased in 2022Steel pipe consumption in Russia is forecast to increase by 10%-15% to 10.3-10.6 million tons by the end of this year due to rising demand from crude oil and natural gas. Russian factories produced about 9 million tons of steel pipes from January to September, up 15.2% year-over-year, as steel pipe…
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Blast furnace capacity utilization in China falls for third weekThe blast furnace (FF) utilization rate among 247 Chinese steel mills surveyed by Mysteel fell another 1.32 percentage points on the week for the third consecutive week to 86.31% compared to the period Oct. 28 to Nov. 3, indicating that some of the surveyed factories continued to operate…
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The Turkish division of the Russian MMK, suspended the operation of electric arc furnacesMMK Metalurji, the Turkish arm of Russia's MMK, has suspended its electric arc furnaces due to low demand and high electricity costs. The resumption of operation of MMK Metalurji furnaces will depend on orders in December. MMK Metalurji stopped its furnaces in early September and early October due…
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Japanese JFE cuts production to stabilize pricesJapan's JFE has announced that it will reduce its annual crude steel output and raise its profit target for the full year. JFE agreed to cut production to stabilize the price and announce confidence. JFE's actions, also the first to be announced by Asian plants, contrast with continued production…
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