Metallurgy news
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US Steel expects weak results in Q2 2020United States Steel Corporation has provided guidance for the second quarter of 2020 and an update on its latest liquidity requirements for the rest of the year. Adjusted EBITDA in the second quarter of 2020 is expected to be approximately (US $ 315), which excludes approximately US $ 100 million…
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Raw steel production in Japan to drop significantly in 2020Steel production in Japan is expected to be about 35 million tons between April and September and less than 80 million tons in the current fiscal year until the end of March, said the new head of the steel industry group. “This is my personal opinion, but I still expect Japan's crude steel…
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Dubai customs confiscate fake pipesLocal media reported that Dubai Customs, after receiving a warning that four containers on board were carrying counterfeit oil and gas pipes, managed to thwart an attempt to smuggle 58 fake Vallourec oil and gas pipes into the country. The containers were tracked and recovered after a thorough…
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Metinvest Severny GOK modernizes equipmentThe Northern Iron Ore Beneficiation Plant of Metinvest Group is modernizing induction machines in workshop No. 1 for the production of pellets. The company has allocated 270 million UAH for the renovation of production equipment. The modernization of the LURGI 278A and OK 306 induction machines is…
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Severstal plans to increase steel exportsRussian steelmaker Severstal expects domestic demand to fall 5-7% in 2020 compared to 2019 as a result of the coronavirus outbreak, but says the increase in exports has allowed it to continue production to full capacity. Severstal CFO Alexey Kulichenko said: “The second quarter will be the most…
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Steel product sales through BUCE grew by 13% in January-May 2020BelTA reported that sales of metal products through the Belarusian Universal Commodity Exchange increased by 13%, including thanks to the supply of steel from the Belarusian Metallurgical Plant. Belarusian Universal Commodity Exchange (BUCE) Roman Yaniv said: “In January-May, 12,500 tons of ferrous…
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Ezz Steel reports lossesEzz Steel Company recorded a consolidated loss of EGP 7.9 billion in 2019, compared with a loss of EGP 1.02 billion in 2018, an increase of 674.5 percent. Its sales dropped to 45.71 billion EGP, down from 49.116 billion EGP in 2018. According to separate results, the company's profit in 2019…
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JSW Steel USA relaunches electric arc furnace and rolling mill in OhioJSW Steel USA is relaunching its electric arc furnace, or EAF, and hot rolling mill at Mingo Junction in Ohio during the week of June 15, after work was temporarily suspended in mid-April when the company completed planned capital projects, JSW Steel USA. Ohio COO Mike Panzeri said in a business…
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Severstal denies interest in Thyssenkrupp assetsReuters reported that Russian steel giant Severstal has no plans to participate in industry consolidation in Europe. This statement effectively narrows down the list of potential partners for Germany's Thyssenkrupp. Severstal CFO Alexei Kulichenko told Reuters: "Europe does not look like an…
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2 Thyssenkrupp managers will soon be jailed in ItalyTwo German managers who were convicted of a fire in December 2007 at the Thyssenkrupp steel mill in Turin that killed seven workers will soon be jailed. Former CEO Harald Espenhan, whose sentence was reduced on appeal to 9 years and 8 months, and Gerald Prignitz, whose sentence was reduced to 6…
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