Metallurgy news
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A third of China's steel mills could go bankrupt - Li GangpoChina's steel industry is entering a dangerous new era as a deepening real estate crisis threatens demand and Beijing's construction-driven growth model looks increasingly untenable. Nearly a third of China's steel mills could go bankrupt in a crisis likely to last five years, Li Gangpo, founder…
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British Primetals will supply the first EAF to the German company SalzgitterPrimetals Technologies, a UK-based engineering and construction company, plans to deliver the first electric arc furnace (EAF) for a low CO2 steel production project of German manufacturer Salzgitter, SALCOS. Salzgitter noted that the annual production capacity of the electric arc furnace will be…
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EDB provides financing to SSGPO of KazakhstanThe Eurasian Development Bank (EDB) has provided Kazakh iron ore miner Sokolov-Sarybai Mining and Production Association (SSGPO), a member of the Eurasian Group (ERG), with US$55 million in financing to develop the production of SSGPO export goods. EDB has been cooperating with ERG for a long time…
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EUROFER: Dim prospects for EU steel industry this yearThe European Steel Association (EUROFER) indicated that the performance of the EU steel industry in the first quarter of 2022 slowed compared to 2021, predicting a bleak outlook for European steel markets this year. The outlook for steel demand remains highly uncertain due to the ongoing energy…
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Brazil initiates investigation into imports of seamless steel pipes from China and RomaniaAccording to a statement from the Brazilian Secretariat of Foreign Trade (SECEX) dated August 22, 2022, Brazil initiated the fourth review of anti-dumping duties (AD) on imports of carbon steel seamless steel pipeline pipes from China and Romania based on an application filed by local steel pipe…
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Daily steel production in China increasedIn mid-August, daily crude steel production at China's key smelters was about 2 million tons, up 2.72% from early August. At the same time, the daily output of metal products amounted to 1.95 million tons, an increase of 0.17%. In addition, the stocks of metal products of China's key enterprise for…
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Global pig iron production declined in JulyAccording to statistics released by the World Steel Association (worldsteel), in July, global pig iron production was about 105 million tons, down 6.2% from the same month last year and down 5% from the previous month. In July alone, Asian production was 87.2 million tonnes, down 6.1%…
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Turkish steel mills considering shutdownRecently, market prices for energy and scrap metal have remained high, and the rise in steel prices in the Turkish domestic market and in world markets was still uncertain. In this situation, some Turkish long steel mills have begun to consider temporarily shutting down production. These Turkish…
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China's steel production could remain low for monthsAlthough crude steel production in China recovered in August after falling for two consecutive months, by mid-August, steel inventories in China's main trading centers were still at a low level. Low steel production and inventory levels meant that Chinese steel producers and distributors were still…
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Power shortages may not affect steel supply in Europe muchArcelorMittal Chief Executive Officer Aditya Mittal said the energy crisis would only have a strong impact on end-user demand for steel, not supply. ArcelorMittal has indicated that the energy crisis will not stop its operations, although it may transfer some of its production from German plants to…
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