Metallurgy news
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China zeroed import duties on steel and cast ironChina plans to lift import duties on the import of pig iron, steel semi-finished products, scrap and ferrochrome from May 1, the Wall Street Journal writes, citing a statement from the PRC Ministry of Finance. The measure will support the supply of steel products to the Chinese economy, increase…
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US Steel returns to profitUnited States Steel Corporation (US Steel), an integrated steel company based in Pittsburgh, Pennsylvania, with world-class operations in the United States and Central Europe, has released its first quarter results this year. According to the company's press release, the company's net income for…
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ArcelorMittal changes largest credit line to meet environmental goalsArcelorMittal said it has reached an agreement with lenders to amend its $ 5.5 billion revolving credit facility and link the loan's margin calculation to the company's performance in achieving sustainability and emissions reduction goals. ArcelorMittal said the margin payable would increase or…
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MMK publishes consolidated annual report for 2020PJSC Magnitogorsk Iron and Steel Works (“MMK”, or “Group”) (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, is pleased to announce that the integrated annual report for 2020 has been published on the corporate website of MMK. This 2020 Annual Report (the “Report”) discloses…
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US slab imports up in MarchAccording to preliminary data from the United States Department of Commerce (USDOC), the United States imported about 320,200 tons of slabs in March, an increase of almost 18% over the previous month and 1,443.4% over the same month of the year. ago. Among them, imports from Brazil accounted for…
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China starts producing steel using hydrogen on an industrial scaleJialong Group launched an industrial scale direct reduction iron production plant with hydrogen. It is expected to produce 300,000 tons of steel per year. Chinese companies are building new, even larger direct reduction plants. The use of hydrogen allows you to bypass the sintering process and…
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TMK and CheMK intend to create a joint venture for the production of flat stainless steel productsThe Pipe Metallurgical Company (TMK), a pipe manufacturer from Russia, announced the creation of a joint venture between Russian Stainless Company LLC (RNK) and the Chelyabinsk Electrometallurgical Plant (CheMK). It was also planned to implement the plan for the production of flat stainless steel…
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Baosteel's profit grows significantly in the first quarterBaosteel, a subsidiary of the state-owned China Baowu Steel Group, said its profit reached 5.36 billion yuan in the first quarter of this year, an increase of 2.4 times over the same period last year. Revenue rose 39% year-on-year to 83.6 billion yuan, while basic earnings per share were 0.24 yuan…
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The EU and the USA demand to maintain the positive trend in the rolled metal marketGlobal demand for carbon steel may be supported by continued growth in Europe and the United States over the past month. However, new targets to cut CO2 emissions in China could slow steel production this year, while production is set to pick up elsewhere in Asia, French mining company Eramet said…
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Steel industry hopes for strong growth in 2021The disastrous year 2020, after creating one of the greatest problems of the century, has come to an end, and hopelessness has been reversed with a lot of positives. The feeling of well-being seems short-lived, however, as the second wave of the pandemic ravages parts of the country and threatens…
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