Metallurgy news
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Deutsche Bank ends coal mining operationsDeutsche Bank, in revising its fossil fuel policy, said it would end coal-mining business worldwide no later than 2025. The German lender also said that, with immediate effect, it will not finance new projects in the Arctic or oil projects. The new policy follows the announcement earlier this year…
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US Steel Imports Down 21% In JuneThe American Institute of Iron and Steel (AISI) today reported that the country imported a total of 1.391 million tonnes in June this year. Imports for the first six months of this year amounted to 12.387 million tons. The above figures are based on the most recent data published in the USA. Total…
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Ukraine in June increased steel production by 9%Despite the fact that 64 countries of the world produced 148.295 million tons of steel in June, which is 7% lower than in June 2019, Ukraine, following the results of the work of metallurgical enterprises in June 2020, increased steel production by 9% compared to the same period in 2019 - up to…
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Workers' Union Reports 21 COVID19 Deaths At ArcelorMittal Mexico PlantAt a steel plant owned by ArcelorMittal in the Mexican port city of Lazaro Cardenas, 21 workers have died from COVID-19. Carlos Solorio, general secretary of the National Mining and Metals Union, said: “There have been 21 deaths since April and workers are likely to have contracted the virus…
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Tata Steel Considers UK Nationalization PlanTata Steel has been submitting proposals to Whitehall in recent weeks to secure government funding of around £ 1bn in its UK operations. In turn, the Indian parent company will hand over to British taxpayers a stake of up to 50%, which would mean the semi-nationalization of Britain's largest…
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China became a net steel importer for the first time in 11 yearsChina became a net steel importer for the first time in 11 years in June, despite record daily steel production for the month. This indicates the extent of the Chinese-fueled economic recovery that has boosted domestic steel prices while other markets are still recovering from the impact of the…
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Profits of metallurgical companies are expected to fall in 21 financial yearsThe ratings agency Crisil said the operating margins of US steel companies are likely to see a decline in fiscal 21. However, he predicts a better position compared to the recession in FY16. According to the report, Indian primary steelmakers' operating margins are likely to decline 2-15%, mainly…
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Severstal announces financial results for the second quarter and first half of 2020PJSC Severstal announced financial results for the second quarter and first half of 2020 for the period ended June 30, 2020. Severstal CEO Alexander Shevelev “I am pleased to note that all of our companies have performed well despite the disruptions in the market caused by the COVID-19 outbreak. We…
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China and Vietnam counteract global steel production dynamicsIn June, steel production in 64 countries represented by the World Steel Association (worldsteel) fell 7% year on year to 148.3 million tons. The association, however, reiterates that many of the numbers are estimates and are likely to be revised next month due to the impact of the Covid-19…
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EWE and ArcelorMittal collaborate on sustainable steel production in BremenEWE and its subsidiary Swb and steel producer ArcelorMittal signed a letter of intent to cooperate. The agreement aims to produce green hydrogen in Bremen. At the site of the power plant in Mittelburen, a first phase will include an electrolysis plant with a capacity of up to 24 megawatts, which…
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