Metallurgy news
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Fire at ArcelorMittal in IndianaThe NW Times reported that no one was injured after the fire at the ArcelorMittal Indiana Harbor steel mill in East Chicago. United Unionworkers Union District 7 director Mike Millsap and USW Local 1010 president Steve Wagner said none of the steelworkers were injured in the Friday night fire that…
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Coronavirus appears in South Korean steel millsThe Korea Times reported that POSCO, Hyundai Steel and other steelmakers have announced a cut in steel production as the spread of the coronavirus will severely reduce not only production but also demand. Yuanta Securities analyst Yi Hyun Soo said, “The original forecast was that POSCO will see a…
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Liberty Steel wants to restart steelmaking plant in GeorgetownLiberty Steel continues to speculate on the future of the Georgetown smelter as it tries to balance financial realities with the goal of bringing production back to full capacity. Liberty Steel Georgetown closed the store in September, saying it would need to invest $ 25 million to replace obsolete…
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AK Steel announces financial resultsAK Steel has announced financial results for the fourth quarter and full year 2019. Q4 2019 Highlights • Q4 2019 net loss of $ 53.9 million, or $ 0.17 per diluted share; Adjusted net loss of $ 35.1 million or $ 0.11 per diluted share • Adjusted EBITDA in the fourth quarter of 2019 in the amount of…
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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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