Metallurgy news
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Profits of metallurgical companies are expected to fall in 21 financial yearsThe ratings agency Crisil said the operating margins of US steel companies are likely to see a decline in fiscal 21. However, he predicts a better position compared to the recession in FY16. According to the report, Indian primary steelmakers' operating margins are likely to decline 2-15%, mainly…
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Severstal announces financial results for the second quarter and first half of 2020PJSC Severstal announced financial results for the second quarter and first half of 2020 for the period ended June 30, 2020. Severstal CEO Alexander Shevelev “I am pleased to note that all of our companies have performed well despite the disruptions in the market caused by the COVID-19 outbreak. We…
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China and Vietnam counteract global steel production dynamicsIn June, steel production in 64 countries represented by the World Steel Association (worldsteel) fell 7% year on year to 148.3 million tons. The association, however, reiterates that many of the numbers are estimates and are likely to be revised next month due to the impact of the Covid-19…
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EWE and ArcelorMittal collaborate on sustainable steel production in BremenEWE and its subsidiary Swb and steel producer ArcelorMittal signed a letter of intent to cooperate. The agreement aims to produce green hydrogen in Bremen. At the site of the power plant in Mittelburen, a first phase will include an electrolysis plant with a capacity of up to 24 megawatts, which…
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US Steel will resume work at Gary Works in AugustUS Steel announced that it will reopen blast furnace # 8 at its Gary Works in Indiana, which has a design capacity of 1.07 million tonnes per year on August 1, to meet increased demand from the contract business. US Steel said: “As a major supplier of steel to the automotive industry, Gary Works is…
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EVRAZ NTMK launches a blast furnaceEVRAZ Nizhny Tagil has completed the overhaul of blast furnace 6. The project required USD 176 million in investment and 16 months to complete. The volume of the furnace is 2200 cubic meters, its planned annual production is 2.5 million tons of pig iron. Blast furnace 6 has two pouring chambers…
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AISI's new CEO focused on industry, steel importsMore than a decade later, working behind the scenes to protect the U.S. steel industry from unfairly imported imports, Kevin Dempsey became interim executive director of the American Steel and Steel Trade Group, American Iron and Steel Institute (AISI). Dempsey has taken on the role of the metals…
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Czech VHM plant goes bankruptThe Regional Court in Ostrava declared bankruptcy of the Ostov steel producer Vítkovice Heavy Machinery. According to the court, there are several reasons why VHM went bankrupt. The proposal to reorganize the company, which was originally put forward by the majority shareholder of CE Power…
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German steel production plummets in JuneGerman steel production fell 27.3% year on year to 2.48 million tonnes in June, German steel federation WV Stahl reported on July 20. June marks the third consecutive month of "significant" production cuts in Europe's largest steelmaking country. “The negative consequences of the coronavirus crisis…
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MMK completed the modernization of the blast furnaceMagnitogorsk Iron and Steel Works completed the technical re-equipment of blast furnace No. 2. The company plans to commission the upgraded unit in August. MMK started a large-scale modernization of the second blast furnace in February 2020. The general contractor for technical re-equipment is…
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