Metallurgy news
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Two new blast furnaces to be commissioned in Southeast Asia in the coming monthsAfter Dexin Steel Indonesia launches the third blast furnace at Morowali Industrial Park, Central Sulawesi Province, the annual crude steel production capacity will be increased by 2 million tons to 6 million tons from next month. The planned annual output of steel bar, wire rod, billet and slab is…
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Taiwanese steel exports fall in first half due to steel dumping in ChinaDue to the increase in the oversupply of China's steel mills, a large amount of steel products have been dumped abroad at low prices, which has seriously affected the production and sale of related products in neighboring Asian countries. According to statistics from the Ministry of Finance…
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Japan and Saudi Arabia cooperate on decarbonization and energyJapan and Saudi Arabia have joined forces to develop decarbonization technologies and resources. During the recent visit of Japanese Prime Minister Fumio Kishida to Jeddah, Arabia, the leaders of the two countries signed 26 energy cooperation memorandums. Japan is providing technology to Saudi…
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POSCO plans to increase steel production capacity to 52 million tons by 2030South Korean steelmaker POSCO planned to increase its annual steel output to 52 million tons by 2030. The company is also aiming to generate annual sales revenue of 100 trillion won by 2030, with operating income triple that of 2022. In addition, POSCO evaluates the development of high value-added…
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SSAB and Kirchhoff collaborate on fossil-free steelSwedish company SSAB and German car supplier Kirchhoff Automotive have announced a collaboration on fossil fuel-free steel. Steel is the main component of cold-formed body parts such as those made by Kirchhoff Automotive in southern Westphalia. Through this collaboration, safety-relevant Kirchhoff…
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China and Vietnam increase share in India's steel importsSteel imports from India to China and Vietnam rose in June 2023 compared to the same period last year, according to official data. India's total steel imports reached 4.84 lakh metric tons (LMT) in June 2023, reflecting a 5.9% month-on-month increase (MoM) and a 7.6% increase, according to the…
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Iron ore price rises on stimulus rates and low inventoriesIron ore prices continued higher on Friday, bolstered by growing hopes for stimulus measures in China after weaker export data and lower inventories at both mills and ports. Benchmark 62 percent Fe fines imported into northern China changed hands at $116.52 a ton on Friday morning, up 4.25%…
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Liberty Steel wins tender to acquire DunaferrLiberty Steel, through its subsidiary Liberty Steel Central Europe Kft, is set to acquire bankrupt Hungarian steelmaker Dunafrr for 55 million euros. The Dunaferra coke plant was ordered to close last December, but Liberty sent coal trains from Elk Creek in the US, CSM in the Czech Republic and…
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Hyundai Steel launches low-carbon steel brand HyECOsteelSteelmaker ArcelorMittal has announced the launch of its XCarb™ innovation fund to fund decarbonization projects in India. Canadian company CHAR Technologies will act as an accelerator program for its XCarb™ by investing US$5 million in the company through ArcelorMittal's XCarb™ Innovation Fund…
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ArcelorMittal closes Fos-sur-Mer steel plantAccording to ArcelorMittal, steel production at the ArcelorMittal steel plant in Fos-sur-Mer in southern France will be stopped. The reason was the decision of the labor inspectorate, which revealed an excessively high level of exposure to toxic products and dust on workers, as well as insufficient…
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