Metallurgy news
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South Korea increases imports of stainless steel sheetsThe import volume of stainless steel sheets to South Korea has exceeded 90,000 tons. The rapid increase in plate imports in December after November appeared to be due to increased supply worries following the POSCO flooding incident last September and the result of aggressive import contracts…
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Indian steel mills raise prices for hot-rolled coilSeveral of India's leading steel mills raised hot rolled coil prices last week in January due to limited resources available for sale. India's exports to Europe and the Middle East increased last month, although domestic price increases were not supported by demand as export duties were lifted at…
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Ukraine plans to increase electricity importsThe Cabinet of Ministers of Ukraine approved the regulation on the specifics of regulation of electricity imports in the autumn-winter period of 2022-2023 under martial law in Ukraine. The rules establish that consumers using imported electricity should not limit their choice of electricity. At the…
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Vietnamese Hoa Phat Group increased steel sales by almost a third in DecemberHoa Phat Group, Vietnam's largest steel producer, said its sales of steel products, including structural steel, hot-rolled coil (HRC) and billets, totaled about 558,000 tons in December last year, up nearly 26% year-over-year. . the same month a year ago. For the full year of 2022, Hoa Phat Group's…
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ArcelorMittal buys Polish scrap metal companyArcelorMittal has signed an agreement to acquire Poland's Zaklad Przerobu Zlomu (Zlomex) scrap metal recycling company. ArcelorMittal says Zlomex operates scrap yards in Krakow and Warsaw in Poland, which "recycled and shipped almost 400,000 metric tons of ferrous scrap last year." The Luxembourg…
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NLMK shareholders voted against the payment of dividendsShareholders of Russian steelmaker NLMK voted against paying dividends for the first nine months of 2022, rejecting the company's attempts to restore its dividend policy. NLMK's board of directors had previously recommended a RUB2.6 ($0.035) dividend payout for the reporting period, but the company…
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China will invest in the metallurgy of Southeast AsiaIn 2023, China will seek to control the growth of steel production and replace old equipment with more environmentally friendly equipment through capacity replacement. But, on the other hand, it will invest more manufacturing capacity in the ASEAN countries so that its colossal steel industry can…
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Taiwan imposes a ban on the export of stainless steel plate to Russia and BelarusAccording to the announcement of the Ministry of Economy of Taiwan on January 4, 2023, in order to prevent Taiwan from exporting high-tech goods to Russia and Belarus for the production of military weapons, the volume of restricted exports to these two countries has been expanded, adding categories…
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Chinese steel mills cut production due to poor forecastsReduced domestic and overseas orders are forcing many metal fabrication factories in China's southern province of Guangdong to close weeks earlier than usual, while some are also cutting production plans for next year, manufacturers said. Extended shutdowns in the world's largest consumer of metals…
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Posco implements new projects in MalaysiaSouth Korean steelmaker Posco Group is implementing a carbon capture and storage (CCS) project in Sarawak, Malaysia. Posco Holdings, Posco International, Posco E&C and Malaysian oil and gas company Petros signed a memorandum of understanding (MoU) on the CCS project on December 12, 2022. “In…
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