Metallurgy news
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US steel imports in January fell by 10%The American Iron and Steel Institute reported that the United States imported a total of 3,135,000 tonnes of steel in January 2020, including 1,633,000 tonnes of finished steel (down 9.9% and 33.4%, respectively, compared with January ). 2019. Total and final steel imports increased by 97.7% and…
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Iranian steel production to increase by over 46 percentIran's steel production rose 46.7 percent in January, with an average global growth rate of 2.1 percent, according to a report released by the World Steel Association (WSA). Compared to last January's 1,971 million tons, Iran produced 2.895 million tons of crude steel, up 46.7 percent, according to…
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ArcelorMittal Nippon Steel will set up a metallurgical plant in ParadipChief Secretary of the Industry Department of Odisha Governments Mr. Hemant Sharma said that ArcelorMittal Nippon Steel will establish a 3 million tonne steel plant in Paradip. He said: “The original MOU with Essar Steel was for the establishment of the 3MTPA steel plant at Paradip in Odisha. The…
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OMK sets a record for the production of wheels for trains in 2019The subsidiary of the United Metallurgical Company OMK Vyksa Metallurgical Plant in the Nizhny Novgorod Region in 2019 increased the production of train wheels. At the end of the year, the total number of wheels produced was 951,000, up 11% from 860,000 in 2018. Along with this, exports were at an…
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Steel production in China declines due to outbreak of Covid-19Steel production in China will decline in the coming months due to the impact of the new coronavirus (Covid-19) outbreak in 2019, which will halt last year's strong results that lasted until January, analysts say. Output from the world's largest steelmaker rose 7.2% year-on-year last month, despite…
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The consequences of the coronavirus for steel companiesOne sector that has faced the heat of the coronavirus outbreak and business disruption in China is steelmaking. Raw material shortages are affecting many companies. Kalyani Steels RK Goyal Managing Director and Edelweiss Analyst Amit Dixit shared their views on the outlook for the metals sector…
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Fire at ArcelorMittal in IndianaThe NW Times reported that no one was injured after the fire at the ArcelorMittal Indiana Harbor steel mill in East Chicago. United Unionworkers Union District 7 director Mike Millsap and USW Local 1010 president Steve Wagner said none of the steelworkers were injured in the Friday night fire that…
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Coronavirus appears in South Korean steel millsThe Korea Times reported that POSCO, Hyundai Steel and other steelmakers have announced a cut in steel production as the spread of the coronavirus will severely reduce not only production but also demand. Yuanta Securities analyst Yi Hyun Soo said, “The original forecast was that POSCO will see a…
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Liberty Steel wants to restart steelmaking plant in GeorgetownLiberty Steel continues to speculate on the future of the Georgetown smelter as it tries to balance financial realities with the goal of bringing production back to full capacity. Liberty Steel Georgetown closed the store in September, saying it would need to invest $ 25 million to replace obsolete…
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AK Steel announces financial resultsAK Steel has announced financial results for the fourth quarter and full year 2019. Q4 2019 Highlights • Q4 2019 net loss of $ 53.9 million, or $ 0.17 per diluted share; Adjusted net loss of $ 35.1 million or $ 0.11 per diluted share • Adjusted EBITDA in the fourth quarter of 2019 in the amount of…
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