Metallurgy news
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SteelAsia will expand its activities and employ 20 thousand workersSteelAsia Manufacturing Corp., recently announced an expansion in the Philippines and will need more than 20,000 employees. SteelAsia President and CEO Benjamin Yao announced that the company plans to establish three to five steel mills across the country over the next three years to meet the needs…
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EVRAZ orders Danieli QSP-DUE plantEVRAZ ordered Danieli's innovative Danieli Universal Endless plant to produce high value-added products for a new plant in Novokuznetsk in the Kemerovo region of Russia. EVRAZ's QSP-DUE plant will be designed for a total annual capacity of 250,000 tonnes of hot-rolled coils for strip thicknesses…
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Global demand for oil and iron ore hit hard by coronavirusGlobal demand for oil and iron ore is falling as the coronavirus epidemic has brought industrial activity to a standstill in China, the world's manufacturing center. Global oil demand is expected to decline by 435,000 barrels per day per year in the three months to March, the first quarterly…
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Tata Steel stakes on expanding Indian demand for rolled steelTata Steel has slowed its ongoing expansion at the Kalinganagar steel mill in the eastern Indian state of Odisha. An innovative project for the expansion of the company, aimed at increasing the plant's capacity by 5 million tons per year, was carried out in early November 2018. Commissioning of the…
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Brazilian mills intend to raise prices for rolled steel in MarchAccording to the market news, steel sheet prices in Brazil and elsewhere appear to have continued to rise due to renewed market demand. The Wuhan pneumonia situation in China did indeed affect the supply of steel sheet, and this prompted some domestic Brazilian factories to decide to increase their…
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The ability of miners to stay afloat in the current environmentIn the current context of geopolitical tensions, natural disasters and epidemics like the novel coronavirus, the Fitch Ratings report says that mining companies that have a competitive cost structure and ample leverage need to be able to withstand commodity price risk. On the other hand, companies…
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Turkish Steel Sheet Exports Down In 2019Turkey's total steel sheet exports totaled about 5.6 million tonnes, down 6.4% year on year, according to an official Turkish government report. Among them, the export of hot-rolled sheet amounted to about 3.4 million tonnes, down almost 12% year on year; exports of cold rolled sheet were about…
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Further reduction of rolled metal production in ChinaAs of mid-February, most of the rolled metal traders and steelmakers in Xinjiang had not yet returned to work. The two main steel markets in Urumqi were also not yet officially open for business and all steel markets were closed. Many obstacles to road and rail transport affected the supply of…
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Thyssenkrupp reports weak resultsIn a challenging economic environment, Thyssenkrupp sales were almost stable at € 9.7 billion in the first three months of the current fiscal year 2019/2020. While capital goods factories have achieved double-digit growth in some cases, material production has clearly been affected by losses in…
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US Accuses China and Taiwan of Tax EvasionThe US Department of Commerce (USDOC) has accused China of evading US anti-dumping (AD) and countervailing duties (CVD) by sending rolled steel intended for the production of certain Corrosion Resistant Steel (CORE) products to Costa Rica, Malaysia and The UAE petty processing companies as well as…
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