Metallurgy news
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New Steel Capacities Overview - August 2021Data on the latest investments in production and capacity of the main manufacturers, announced in the month of August. Europe Salzgitter plans to restart Blast Furnace C, the smallest of the furnaces in its Flachstahl plant, in November. The company announced this during the presentation of its…
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Steel production increased in UkraineAccording to the results of the work of metallurgical enterprises of Ukraine in July 2021, there is an increase in steel production by 7.1% compared to the same period in 2020 - up to 1.875 million tons, retaining the 14th place in the ranking of 64 countries - the main world producers of these…
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Russian duty on steel export will not be extended until 2022Since the imposition of a tax on steel exports led to a decrease in domestic steel prices, the competent Russian authority said that the tax increase would not be extended until 2022. Russia introduced a 15% duty on the export of ferrous and basic non-ferrous metals from August 1 to December 31…
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How technology worksAt the Ingulets mining and processing plant of Metinvest Group, a new route of the ore cyclic-flow technology (CCT) complex was put into operation. This is one of the largest mining projects in the company over the past decade. Metinvest invested about $ 50 million in the construction of the…
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Mineral extraction tax in Russia will be pegged to world pricesAfter Russia proposed to increase the mineral extraction tax (MET) next year, the Finance Ministry on August 30 proposed linking the mineral extraction tax to world metal prices, and the policy was expected to end in October. However, it has been difficult to formulate a tax rate that is compatible…
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Electrotechnical plants in Russia demand a reduction in export dutiesThe Russian Electrometallurgical Association has demanded that the government reduce export duties on semi-finished products and steel materials from scrap steel in order to restore the minimum profitability of electric furnaces. Starting from the beginning of August this year, Russian exports of…
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Steel demand in China will recover in SeptemberSteel demand in China is expected to rebound in September from the previous month, while supply will be slightly different from August, which may generally support domestic steel prices, leading to some recovery over the month, says Wang Jianhua. , chief analyst at Mysteel in his monthly survey…
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Metinvest announces financial results for the first six months of 2021Metinvest B.V., the parent company of an international vertically integrated mining and metals group of companies (hereinafter “Metinvest” or “the Group”), today announced its unaudited consolidated interim financial results under IFRS for the six months ended June 30, 2021. This release also…
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Pakistan interested in selling Pakistan SteelThe Pakistani government has invited foreign and domestic investors to express interest in acquiring Pakistan Steel Mills (PSM). PSM established a 100% privately owned subsidiary, Steel Corp, to revive the closed smelter. The State Privatization Commission (PC), together with PSM (PSM), expects the…
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Cybersecurity Is Critical for Steel MillsCyberattacks are a daily occurrence, and attacks against technology-oriented industrial enterprises pose a threat to the steel sector as well. In the past, isolation of OT-Operational Technology networks ensured the security of the enterprise, but today, thanks to the innovations of Industry 4.0…
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