Metallurgy news
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Iranian Steel Growth Causes DRI DeficitIranian steel production rose 10% year-on-year in the 11 months to Feb.19 to 25 million tonnes, according to a report from the Steel Producers Association of Iran (ISPA) published on its online portal Chilan. Billet production was 15.3 million tonnes and slab production was 9.6 million tonnes…
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Steel shipments in the USA increasedSteel shipments by US factories grew significantly during the first month of 2020. According to data published by the American Iron and Steel Institute (AISI), in January 2020, steel shipments amounted to 8,535,755 net tonnes. This is 6.4% more than in the previous month. American steel mills…
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ArcelorMittal Raises the Coronavirus FlagThe ArcelorMittal report says: “The exact impact of the Coronavirus is unknown, but it has had a negative impact on prices and spreads in China and may continue to have a negative impact if inventories at factories in China continue to rise, putting downward pressure on prices. While the Company…
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Tata Steel Europe will cut 1,250 jobs across EuropeTata Steel Europe CEO Henrik Adam said that job losses in Europe will be 1,250, not 3,000 as expected. In a letter to employees on Monday, Adam described the company's financial position as serious. He said: “There is an urgent priority to improve business performance and our cash position. The…
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China PMI drops to 36 in February due to coronavirus impactThe CFLP Steel Logistics Professional Committee announced that the China Steel Purchasing Managers Index fell 10.5 basis points from January to 36.6 in February, as the coronavirus impacted refining demand, leading to an increase in finished steel inventories. The sub-index for steel production in…
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Strong euro increases pressure on EU scrap exportersScrap exporters Benelux started the week cautiously as the euro strengthened against the dollar. The scrap market in the region is quiet, with exporters waiting to assess exchange rate movements before buying or selling to export markets. Prices for HMS 1 & 2 80:20 further fell to 200-205 € /t from…
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Chinese Jingye acquires British SteelJingye Group, a private Chinese steelmaker, has completed its acquisitions of British Steel's assets in the UK and the Netherlands from British Steel's official successor and will expand the company's steelmaking capacity by moving to a steelmaking electric arc furnace at Teesside, Jingye announced…
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Baowu is the largest steel producer in the world in 2019Steel giant China Baowu Steel Group announced Wednesday that it has surpassed Luxembourg-based ArcelorMittal to become the world's largest crude steel producer in 2019. Baowu's annual crude steel production reached 95.22 million tonnes last year, up from 89.8 million tonnes reported by…
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New Zealand steel mill reports coronavirus casesNew Zealand media reported that the New Zealand Ministry of Health has confirmed the fourth positive test for the Covid-19 coronavirus in New Zealand. New Zealand Steel has confirmed that the person is an employee of the Glenbrook plant. CEO Gretta Stevens said: “We are pleased to announce that the…
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Coronavirus and steel - no news, is that good news?The European and American steel industries have yet to report any major incidents related to the so-called coronavirus. According to the European Steel Association (EUROFER), the virus has not yet had a significant impact on the EU steel market. “Steel producers in the EU can supply products from…
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