Metallurgy news
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European steel prices approach the end of the current growth cycleBuying activity, resale value and sentiment remain weak in the European flat products market in November. Slow economic growth, global trade conflicts and political difficulties have increased pessimism. The lack of orders, in particular from the automotive sector, continues to have a significant…
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Record global stainless steel production forecast for 2019 and 2020MEPS predicts global stainless steel production will hit a record 52.1 million tonnes in 2019. This will be a 3 percent increase over the previous record set last year. MEPS expects global production to continue to grow in 2020. A new peak volume of 54.2 million tonnes is projected for next year…
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ArcelorMittal Seeks Protection Against Future Essar Steel InvestigationsArcelorMittal of steel tycoon Lakshmi Mittal has asked the government for immunity from possible future investigations involving Essar Steel and its former promoters, the Ruia family. Mittal wants to avoid repeating any controversy like Bhushan Power and Steel (BPSL), where the Legal Directorate…
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Sanzheev Gupta is still interested in buying British SteelAccording to British media reports, Sanjeev Gupta is willing to buy British Steel if no deal with the Chinese firm Jingye Group is reached. Gupta is still interested in acquiring the company, but he is concerned that the rescue plan may come too late if Jingye Group postpones its offer, the source…
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Trump to impose 25% tariffs on steel imports from Argentina and BrazilBlaming Argentina and Brazil for harming American farmers over currency manipulation, US President Donald Trump said on Monday that he would impose tariffs on steel and aluminum imports in retaliation. Trump tweeted that “Brazil and Argentina are leading a massive devaluation of their currencies…
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Results of production of MMC of Ukraine in NovemberIn November 2019, the metallurgical enterprises of Ukraine produced: 1.39 million tons of pig iron, which is 13.4% lower than in October 2019, 1.31 million tons of steel, which is 16.8% lower, 1.18 million tons of rolled metal, which is below 18.4%. For 11 months of 2019 produced: 18.46 million…
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US Steel begins rebuilding blast furnaces after floodingUS blast furnaces will be put into operation at the sprawling Gary Works after severe flooding the day before Thanksgiving. US Steel spokeswoman Amanda Malkowski said: “The water cutoff has been resolved and the team is in the process of restarting ancillary assets at Gary. We expect the first…
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French government threatens to block Jingye's acquisition of British SteelThe French government threatens to stop the Chinese deal to bail out British Steel. French Economy Minister Agnes Pannier-Runasher has warned that her government is ready to block the sale of British Steel to Chinese Jingye, as it fears for the fate of British Steel's French arm. Pannier-Runasher…
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World steel production fallsAccording to statistics, world steel production in October fell by 2.8% to 152 million tons, while volumes declined in all regions. This also applies to the production of unrefined steel and finished metal products in Ukraine. Along with this, the Sozidatel company from a warehouse in Dnipro…
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US finished steel imports to drop 14% - AISI forecastThe American Iron and Steel Institute (AISI) predicts a significant decline in the country's finished steel imports during the current year. The estimates provided by the association are based on the most recent steel imports data for the current year. The country is likely to see a 14.3% decline…
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