Metallurgy news
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Iron ore prices slide as coronavirus cases rise in ChinaThe price of iron ore tumbled on Monday as rising Covid-19 cases in China prompted traders to take some profit from the recent gains. China is experiencing the first of three expected waves of coronavirus infections this winter, forcing many people to stay home, according to the country's top…
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POSCO resumes production at typhoon-hit steel millSouth Korean steelmaker POSCO said on Sunday it had resumed operations at a key steel plant after a three-month hiatus due to the typhoon. On Thursday, POSCO restarted its No. 2 hot-rolled steel plant in Pohang, 374 kilometers southeast of Seoul, bringing the number of normalized plants to 13 out…
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UK plans to switch gas boilers to hydrogen from 2026The UK plans to require all newly installed gas-fired boilers to be hydrogen-ready from 2026 as the country prepares to transition to low-carbon domestic heating. The government solicits input from consumers, installers, manufacturers and the wider industry through public consultation to assess…
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Steel production in China fell in NovemberChina's crude steel production in November this year was about 74.5 million tons, down 6.5% from the previous month but up 7.3%, according to statistics released by China's National Bureau of Statistics (NBS). than in the same month. back. Output in November hit its lowest level since December 2021…
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Russia expects Norilsk Nickel plant in Finland to continue productionAccording to Russian trade representative in Finland Anton Loginov, the Russian authorities expect the Nornickel Harjavalta plant in Finland to continue operating despite problems with the supply of raw materials. The Russian mining company previously announced that it was seeking ways to supply…
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Korean steelmakers prepare for EU carbon taxKorean steelmakers and other companies exporting goods to Europe are expected to pay a new carbon tax in the second half of 2023 as the European Union plans to make it more expensive to export steel, cement, fertilizer, aluminium, electricity and hydrogen to the continent. , according to industry…
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Indonesia has no plans to resume exports of nickel oreIrvandi Arif, senior adviser to the Indonesian Minister of Energy and Mineral Resources, said that there are currently no plans for Indonesia to resume exports of nickel ore. The government plans to introduce duties on the export of ferronickel. The Indonesian government has not made a decision on…
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Outlook for the global steel sector deteriorates due to lower consumptionFitch Ratings notes that the global steel sector will not be able to fully recover in 2023 after a shift in supply and demand in favor of end markets driven by reduced consumption in 2H22. We expect steelmakers' earnings to drop significantly as the slowdown in global economic growth ends a period…
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Chinese Baosteel raises prices for JanuaryThe Chinese company Baoshan Iron & Steel (Baosteel) raised its new prices for January. Prices for key products such as hot-rolled and cold-rolled steel rose by 200 and 150 yuan per ton, respectively. According to the price adjustment, the base prices of thick plate, hot rolled steel, cold rolled…
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German SAP and Salzgitter develop digital transformation in metallurgySAP SE, a German multinational software company, and Germany's Salzgitter AG have decided to collaborate to accelerate the digital transformation of climate-smart steel production. Salzgitter said that the cloud solutions developed by SAP play an important role in the development of green steel…
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