Metallurgy news

• During the quarantine, 20% of gas produced in Ukraine will be sold through the exchange The Cabinet of Ministers of Ukraine adopted a resolution according to which gas producing companies are obliged to sell on the exchange 20% of the gas produced in Ukraine during the quarantine period, but no longer than May 1, 2022. The corresponding decision, which amends the Resolution of the... 01.01.2022  14:08

• Iron ore futures end 2021 down 12% thanks to China China's benchmark iron ore futures declined for the first time in three years as prices hit record highs and then nearly halved amid Beijing's stringent production restrictions to meet its climate change targets. The most actively traded iron ore futures contract on the Dalian Mercantile Exchange... 01.01.2022  13:40

• POSCO announces transformation into a holding South Korean steelmaker POSCO has announced its decision to spin off its steel business and transform it into a holding structure. The restructuring plan for the unbundling of the steel business at POSCO Holdings was approved by the POSCO board of directors on December 10, and POSCO Holdings... 20.12.2021  13:11

• Steel mills in China continue to resume production Several steel mills in China have recently resumed production. In early December, crude steel production at key Chinese steelmakers rebounded significantly. Meanwhile, sustained macro-level growth policies were expected to continue to strengthen, spurring a recovery in the iron ore market, while... 20.12.2021  13:09

• Nickel price on LME rises strongly in December Three-month nickel futures on the London Metal Exchange (LME) rose strongly yesterday (December 16) at $ 508 /t, to close at $ 19,624 /t, with the highest daily level at $ 19,690 /t. The spot price also increased by USD 576 per tonne, reaching USD 19,739 per tonne. The current monthly average... 17.12.2021  11:35

• Japanese company JFE Steel resumes production of blast furnace # 4 in Okayama Japanese company JFE Steel announced the resumption of production of blast furnace # 4 in Kurashiki, Okayama Prefecture, in December 2021. It was closed in the second half of April last year due to a sharp drop in demand caused by Covid-19. By now, all blast furnace plants in Japan have resumed... 17.12.2021  11:32

• Austrians started selling green steel, but very expensive Austrian steel group Voestalpine has announced that it is offering reduced CO2 output for all flat products produced by its steel division in Linz. The metallurgical and technology group Voestalpine aims to produce climate-neutral steel by 2050. The first step in this direction is a new “green s... 16.12.2021  10:39

• MMK will reach full capacity at the Turkish plant by the end of the year Magnitogorsk Iron and Steel Works (MMK), one of the world's largest steel producers in Russia, said it intends to achieve an annual production capacity of 2–2.2 million tonnes of steel at its Turkish MMK Metallurgy plant. MMK Metallurgy's production is growing every month. The Turkish mill's g... 15.12.2021  12:06

• Results of production of MMC of Ukraine for 11 months of 2021 According to the updated data, in January-November 2021, metallurgical enterprises of Ukraine produced: agglomerate - 30.34 million tons (104.7% compared to January-November 2020); gross coke (6% vol.) - 8.73 million tons (99.0%); pig iron - 19.44 million tons (104.5%); steel - 19.62 million... 15.12.2021  11:53

• Russia is looking for new ways to use palladium The Russian company Nornickel, the world's largest palladium producer, has announced a competition among scientists for new ways to use palladium. Global demand for palladium has slowed recently as carmakers that use the metal as a catalyst to reduce pollution have closed their operations. “We b... 15.12.2021  11:51