Metallurgy news
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Chile declares a state of emergency to avoid damaging the mining industryChile was gripped by protests as the country's government proposed to increase spending on public transport. The president imposed curfews in several cities, but the Chilean mining department was still functioning after violent protests. Chile's Mines Minister Baldo Procurica said that due to…
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Tokyo Steel maintains November prices for rolled metalTokyo Steel Manufacturing Co Ltd, the largest electric arc furnace manufacturer in Japan, will keep all steel prices unchanged in November amid high domestic inventories and weakening overseas prices, the company said. The steelmaker slashed all steel product prices in October by about 2% -4% to…
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Metallurgical associations in the fight against overcapacitySteel industry associations around the world demand further efforts to combat overcapacity. Nineteen metal industry associations from around the world have sent an open letter to governments asking them to step up efforts to tackle overcapacity. New construction projects requiring the use of…
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CMC closes Rancho Cucamonga smelterMany people are expected to lose their jobs at the Commercial Metals Company steel mill on Rancho Cucamonga in southern California, USA. A corporation spokesman confirms that they are closing most of the plant. CMC spokeswoman Susan Gerber said: “The burdensome regulatory environment and the cost…
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China approves construction of new steel plants in a simplified regimeChina is approving new steel mills at a rapid pace, which increases the risk of an oversupply of steel that could once again erode global steel prices. China has approved eight steel replacement projects between September and mid-October, which will produce 17.18 million tonnes of pig iron per…
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Mechel expects compensation for the loss of the Donetsk Electrometallurgical PlantRussian oligarch Igor Zyuzin has asked the government for several million dollars in compensation for the loss of a steel mill by his firm in eastern Ukraine. According to the Russian daily Vedomosti, Mechel is also trying to negotiate a huge loan restructuring, as the company says it cannot afford…
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Turkey supplies too much steel to the United States - TrumpPresident Donald Trump defends his sanctions and tariffs on Turkey in the face of criticism that measures to deter Turkey from continuing an expanding military offensive against US-allied Kurds in northern Syria are not warranted. Trump says his fines, which include sanctions against individual…
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Metallurgical industry in anticipation of an increase in demandSteel prices, especially hot rolled steel (HRC), fell to three-month lows amid slowing demand. Analysts say this will affect the bottom line of major steel companies, including Tata Steel and JSW, as gross margins of large companies have plummeted over the past 19 weeks. Companies are hoping for a…
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Koc Metalurji will resume steel productionOne of the largest billet producers in Turkey's Iskenderun said it would resume steel production in early December, a month ahead of schedule. Koc Metalurji has an annual production of 1.2 million tonnes of crude steel. Due to unfavorable market factors such as low demand for finished steel…
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Another wave of layoffs looms over the American coal sectorThe clearest sign of widespread job cuts in American coal is the amount of coal mined per US miner, which is at its lowest level in eight years. Productivity has only dropped 11% this year. It was last so low in 2011, when companies ended up laying off nearly half of their workers in a recession…
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