Metallurgy news
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AK Steel closes Dearborn plantAK Steel Corp reports that the Dearborn plant is closing due to rapidly deteriorating business conditions. The company is shutting down its 350-acre hot rolling, annealing and tempering mill, citing a rapidly deteriorating business environment. The closure will take effect on 5 July. The union has…
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Metinvest's Italian subsidiaries reopenedItalian factories Metinvest Group, Ferriera Valsider and Metinvest Trametal have resumed normal operations after the expiration of a decree from the Italian government to suspend work at the country's metallurgical plants due to the COVID-19 coronavirus pandemic. Ferriera Valsider resumed…
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US Steel posted a net loss in Q1 2020Pittsburgh-based United States Steel Corporation (US Steel) reported a net loss of $ 391 million, or $ 2.30 per diluted share, in the first quarter of this year. This compares to net income of $ 54 million or $ 0.31 per diluted share in the corresponding quarter last year. The company reported an…
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Russia will become the leading exporter of coal within a decadeRussia, the world's largest coal-mining country, plans to increase production and exports over the next 15 years. Russia's share of the global coal export market is projected to rise to 25 percent from the current 11 percent. According to the draft state strategy document issued by the Russian…
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Iron ore and metallurgical coal production virtually unaffected by COVID-19It is quite common when only one country or a very small number of countries dominates the global supply in product markets. For example, OPEC countries, together with Russia and the United States, dominate the global supply of crude oil. Steel materials are no exception. Australia is by far the…
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Steel industry in India partially resumes operationsThe Indian steel industry has begun a gradual resumption of production despite no clear indication of when the nationwide lockdown due to the coronavirus pandemic will be lifted completely. The government extended the ban until May 17, which was due to expire on Sunday. It was expanded as there…
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US Steel cuts production and thousands of workersUS Steel plans to suspend blast furnace operations at Gary Works and temporarily lay off up to 6,500 workers nationwide in response to the coronavirus pandemic. The company has filed an application with the US Securities and Exchange Commission, saying it plans to issue an adjustment and retraining…
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Economic Impact of the COVID-19 Outbreak in ChinaChief Representative of Worldsteel's Beijing Office and Adviser for Economics, Commodities and Markets, Mr. Frank Zhong wrote: “Since mid-February, the situation in China has improved significantly. Most provinces have not reported any new internal infections for over six weeks. However, it is…
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Will the drop in oil prices lead to a drop in world steel prices?Oil prices have plummeted in recent months. This raises concerns among market participants that a drop in steel prices, similar to the one recorded in 2015, could occur. In December of that year, the average global MEPS hot rolled coil deal price fell by about $ 100 per tonne below the lowest…
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Japan's steel production at its lowest level in 10 yearsCrude steel production in Japan has fallen over the past three quarters to levels not seen since 2009, when the industry is facing closures of production and construction sites caused by the coronavirus pandemic, exacerbating the challenges posed by existing cold domestic demand and export…
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