Metallurgy news
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China's steel production is boosted by government incentivesChina's iron and steel sector has already benefited from the country's rapid recovery from the Covid-19 outbreak and the restart of metal-intensive industries, while production and prices have declined in most other regions. Shanghai rebar prices are up 50 yuan /t ($ 7 /t) to yen 3,490, while HRC…
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S&P gives negative outlook for ArcelorMittalS&P Global Ratings affirmed its BBB credit rating for the world's largest steelmaker ArcelorMittal with a negative outlook amid continued pressure from weak market conditions. However, the rating agency said that the growth in demand for steel is already behind. "Manufacturing in Europe and the US…
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POSCO decides to cut production for the first time in 12 yearsPOSCO decided to make its first production cut in 12 years since 2008. Even major steelmakers at home and abroad, such as ArcellorMittal and Hyundai Steel, cut production, but POSCO did not. However, the decline in demand due to the economic downturn eventually forced the steelmaker to revise…
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A green revolution in the Australian steel industryAustralia can benefit from an abundance of cheap wind and solar power to stem decades of recession in its steel industry. By leveraging the nation's iron ore resources and using hydrogen generated from renewable energy, Australia could capture about 6.5% of the global steel market, generate $ 43…
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China's steel exports and imports in April 2020China's steel exports stood at 6.32 million tons in April 2020, according to the latest statistics from the General Administration of Customs, practically unchanged from 6.33 million tons shipped in April 2019. In January-April 2020, China exported 20.60 million tons of finished steel, down 11.7…
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NLMK begins modernization process at a Belgian plantNLMK La Louvière, a leading flat steel producer in Belgium and part of the Russian NLMK group, received the first major equipment to modernize a hot strip mill, worth 150 million euros, which will allow the company to expand its production of thinner and stronger materials. As a result, more…
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AK Steel closes Dearborn plantAK Steel Corp reports that the Dearborn plant is closing due to rapidly deteriorating business conditions. The company is shutting down its 350-acre hot rolling, annealing and tempering mill, citing a rapidly deteriorating business environment. The closure will take effect on 5 July. The union has…
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Metinvest's Italian subsidiaries reopenedItalian factories Metinvest Group, Ferriera Valsider and Metinvest Trametal have resumed normal operations after the expiration of a decree from the Italian government to suspend work at the country's metallurgical plants due to the COVID-19 coronavirus pandemic. Ferriera Valsider resumed…
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US Steel posted a net loss in Q1 2020Pittsburgh-based United States Steel Corporation (US Steel) reported a net loss of $ 391 million, or $ 2.30 per diluted share, in the first quarter of this year. This compares to net income of $ 54 million or $ 0.31 per diluted share in the corresponding quarter last year. The company reported an…
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Russia will become the leading exporter of coal within a decadeRussia, the world's largest coal-mining country, plans to increase production and exports over the next 15 years. Russia's share of the global coal export market is projected to rise to 25 percent from the current 11 percent. According to the draft state strategy document issued by the Russian…
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