Christopher Rivituso | Posted on May 2, 2024 | Metals markets recently saw UK metal and mining multinational Anglo American reject a £31.1 billion ($38.8 billion) takeover bid from Australia’s BHP. Meanwhile, shareholders in the latter company continue to urge an increase in the offer price.On April 26, London- and Johannesburg-listed Anglo American’s board of
Vedanta Ltd will divest its steel business only if it gets the “right” price, Chairman Anil Agarwal said.“Our team is committed, and if we don’t get the right price, we will run the business ourselves. It is being run profitably, and also has a lot of potential,” he said on the sidelines of an event.In
Jindal Stainless Limited (JSL) Wednesday announced a Rs 5,400 crore investment plan to expanding its capacity by 1.2 million tonnes per annum (MTPA) to 4.2 MTPA. The company will be taking over Chinese stake in a Gujarat based steel mill, expanding its own capacity in Jajpur (Odisha), and setting up capacity in Indonesia through a
Sohrab Darabshaw | Posted on May 1, 2024 | It took about 24 months for the price of copper to reach the psychological mark of U.S. $10,000 per metric ton. Three-month copper futures on the London Metal Exchange (LME) touched the $10k mark last week. The last time copper crossed this threshold was in March
Mario Arvedi Caldonazzo, CEO of Arvedi Group in Cremona, Italy, explains how a family-owned company in Northern Italy became not only the only real flat products minimill in Europe, but also the first steelmaker in the world to receive carbon neutral certification. You can hear this incredible story in Episode 11 of The Green Steel
Although the beginning of the year offered mixed signals for the global economy, US markets today continue to experience positivity. Prices for general markets witnessed an uptrend in late February, followed by a continuation in March and a reversal in April. Fueled by buyer sentiment, the S&P 500 index notched its best first quarterly performance
India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect steel costs and India’s push for self reliance. According to news agency Reuters, as per initial government
As steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation. The comment comes at a time when India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during the
Christopher Rivituso | Posted on April 26, 2024 | In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September
Tata Steel has reaffirmed that it will continue to proceed with its Great British Pound (GBP) 1.25 billion investment to build a state-of-the-art Electric Arc Furnace for steel production in Port Talbot in collaboration with the UK government.Further, it also informed that as announced on January 19 this year, it will shut down its existing
Stuart Burns | Posted on April 25, 2024 | By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still
New China tariffs may soon change the country’s steel market tactics. China continues to sit on a stockpile of steel, and it has no idea what to do with most of it. The exception, however, seems to be dumping it into foreign markets for cheap under the guise of “exportation.” China remains unable to use
Worldsteel reported crude steel production in China at 88.3 million metric tonnes in March, 7.8% lower than in March, 2023. Chinese production in the first three months of 2024 was 4.0% lower than in the same period last year. Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) in
Worldsteel published March, 2024 world crude steel production today. World crude steel output in March was 161.2 million metric tonnes, 4.3% lower than in March, 2023. China produced 88.3 million tonnes in March, accounting for 55% of world output and declining 7.8% compared to March, 2023. Asian production outside China accounted for 19% of world
Germany flats producer ThyssenKrupp Steel (TKS) recently announced plans to cut its production capacity by an average of 19.5%, citing current market conditions as the main reason. Indeed, the European steel industry continues to face a wide range of challenges, including economic challenges and surging energy costs. “The aim is to make ThyssenKrupp Steel fit
Arcelormittal Nippon Steel India Ltd., a joint venture between two of the world’s leading steel makers, is in talks with banks to raise about 85 billion rupees ($1 billion), according to people familiar with the matter, in what could be the biggest local-currency loan this year to fund the firm’s expansion.At least three lenders including
The MetalMiner Team | Posted on April 22, 2024 | Month-on-month, the Global Precious Metals MMI (Monthly Metals Index) rose by 8.25%. However, shortly after April 1, precious metal prices, particularly gold and silver, began surging as investors flocked to purchase as many gold bullions as possible. The reasons for this newfound “gold rush” include
Christopher Rivituso | Posted on April 19, 2024 | Reports indicate that the earthquake that struck Taiwan on April 2 is unlikely to create either supply or manufacturing difficulties for Taiwan semiconductors (microchips), which could subsequently impact the auto sector and steel prices. “I haven’t heard about any impact on the industry due to the earthquake,” one steel
JSW Steel, India’s largest manufacturer of the alloy, has raised $900 million from a consortium of eight foreign banks to refinance debt maturing this month and pre-pay some high-cost borrowings.The loan was priced 180 basis points above the international secured overnight financing rate (SOFR) earlier this month, multiple people aware of the details said. One
Based on reported import licenses, US long products imports increased 49% from 244,000 short tons in March, 2023 to 365,000 tons in March, 2024. Imports of every product category rose, but the largest volume increases came from parallel flange sections, wire rod, and rebar. US long products imports in the first three months of 2024
Sohrab Darabshaw | Posted on April 18, 2024 | China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products following dwindling demand in the West, and these new
Domestic finished steel consumption has registered a growth of 13 per cent to 136 million tonnes during 2023-24, supported by increased demand from automotive and infrastructure sectors, SteelMint India said. The country consumed 120 million tonne (MT) finished steel in the preceding 2022-23 financial year, the research firm said in a report. “Demand from the
Jindal Stainless has reduced 2.4 lakh tonnes of carbon emissions between 2022-23 and 2023-24, according to a company statement on Wednesday. Jindal Stainless Ltd (JSL) is taking various measures to reduce the carbon component in its emissions to nil by 2050. The company plans to generate over 1.9 billion units of clean electricity per annum
Copper prices continued their breakout during March, rising 4.25%. Prices then formed a second higher high on March 15, followed by a new higher low on March 27. The rally continued throughout April as prices climbed an additional 7.59%. As of April 15, they stand at their highest level since June 2022. Subscribe to MetalMiner’s
Today The Green Steel Challenge podcast releases its 10th episode dedicated to steel industry decarbonisation with an outstanding interview with Anne-Marie Grossmann, Board Member at GMH Gruppe. The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel. This particular podcast explores
Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata
Nichole Bastin | Posted on April 15, 2024 | Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a 2.03% rise from March to April. Aluminum prices outperformed all base metals throughout March, with a 4.71% rise from the close of February. Prices continued their rally throughout April, hitting their highest level since February
Based on reported import licenses, US flat products imports rose 37% from 668,000 short tons in March, 2023 to 917,000 tons in March, 2024. The increase was mainly due to higher hot dip galvanized imports, which rose by almost 75% from many countries including Vietnam, South Africa, the United Arab Emirates, South Korea and Austria.
The Renewables MMI (Monthly Metals Index) slowed its decline and began flattening out. Overall, the index dropped a slight 0.36%, demonstrating sideways price action month-on-month. Most index components, such as silicon and cobalt, experienced minimal downward movement without much price volatility. However, renewable resource news sources also indicated several notable factors that could impact future
Around 1,500 Tata Steel workers based at two plants in Wales voted in favour of industrial action on Thursday over the company’s plan to close its blast furnaces and shed 2,800 jobs. The Mumbai-headquartered steel major said it was “disappointed” over the move while consultation continues and pointed to “significant irregularities” in the ballot process
Jennifer Kary | Posted on April 11, 2024 | Month-over-month, the Construction MMI (Monthly Metals Index) moved sideways for the fourth month in a row, only sliding down a slight 2.87%. Of all industrial metals, iron ore suffered the worst drop in price by far, hitting a 10-month low before a slight rebound. The main
In its latest Short Range Outlook (SRO) published yesterday, Worldsteel expects world steel demand in 2024 to reach 1,793 million tonnes. The new forecast lowers estimated demand growth between 2023 and 2024 from 1.9% in its October, 2023 SRO to 1.7% in the newly released figures. World steel demand is expected to grow by another
Nichole Bastin | Posted on April 10, 2024 | The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low.
India is looking to enhance domestic steel production capacity threefold to 500 million tonnes per annum by 2047 with lower emission intensity, officials aware of the plan said. The country also plans to reduce emission intensity to 2.25 tonnes of CO2 per tonne of crude steel (2.25 T/tcs) production by FY29 from 2.50 T/tcs now
Shyam Metalics and Energy Ltd on Tuesday announced that it will invest Rs 650-750 crore in its stainless steel business over the next few years. The company said it will establish a state-of-the-art stainless steel hot rolled coils (HRC) facility at its existing plant in Sambalpur, Odisha. This facility, with a capacity of 0.3 million
The Indian steel industry has expressed concern over India becoming a net importer of steel in 2023-24, saying is it is a “warning signal” for the country which strives to become Atmanirbhar. As per the steel ministry’s Joint Plant Committee, India has registered a 38 per cent surge in imports of finished steel to 8.319
Christopher Rivituso | Posted on April 9, 2024 | Liberty Steel recently announced a restructuring plan for its operations in the United Kingdom after signing a new framework agreement with creditors. Among other things, the ambitious plan includes hiking crude steel manufacturing capacity at its Rotherham plant. The London-based company noted that the plan would
New Delhi: India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during 2023-24 financial year, according to government data. India had imported 6.022 million tonnes (MnT) of finished steel during the preceding 2022-23 fiscal, the steel ministry’s Joint Plant Committee (JPC) said
Nichole Bastin | Posted on April 8, 2024 | Nickel prices continued to the upside during the first half of March, taking a momentary pause from their long-term downtrend. However, prices found a peak by March 13, reaching their highest level since October 2023. Following that, the rally collapsed, and prices returned to the downside.
Tata Steel India has reported a 6 per cent growth in deliveries to 19.90 million tonnes in FY24, supported by higher demand from retail, automotive and railway segments. In India, the company produced 18.85 million tonnes (MT) of steel during the preceding 2022-23 financial year, Tata Steel said in a statement on Saturday. Automotive and
Jennifer Kary | Posted on April 5, 2024 | Month over month, rare earth metals witnessed new price lows not seen since September 2020. While neodymium oxide and praseodymium oxide witnessed the sharpest drop out of all of the components of the Rare Earths MMI (Monthly Metals Index), the index fell by 5.08% overall. But
Jennifer Kary | Posted on April 4, 2024 | Month-over-month, the Automotive MMI (Monthly Metals Index) exhibited little movement. The index trended sideways, only moving up a slight 0.28%. However, recent events continue to raise questions about the future of the industry, especially where automotive imports are concerned. Despite the index itself not witnessing much
Jennifer Kary | Posted on April 3, 2024 | The fear expressed by institutional analysts at the start of the year that 2024 will see some degree of volatility on the iron ore price front seems to be coming true. On April 1, the beginning of the second fiscal quarter, iron ore prices fell to
Jimmy Chiguil | Posted on April 2, 2024 | The start of this year presented mixed signals for the global economy. Prices witnessed the continuation of a strong rally from late February going into March. This helped create a lot of positivity in the metals market and market in general, boosting sentiment regarding a strong
Sohrab Darabshaw | Posted on April 1, 2024 | Australia’s iron ore industry faces a major challenge, and if the country does not take corrective course action soon, it risks losing its position as the largest exporter of iron ore. This would have a significant impact on the nation’s industry, and its ability to affect
New Delhi: The government has set up a task force to explore the use of biochar in steel production as part of its efforts to reduce carbon emissions in the steel industry. According to official data, the domestic steel sector accounts for 12 per cent of India’s greenhouse gas emissions with an emission intensity of
JSW Steel on Saturday announced commissioning of a hot strip mill at its integrated steel plant in Vijayanagar, Karnataka. The company has also made first dispatch of steel products from the mill having an annual capacity of 5 million tonnes (MT), JSW Steel said in an exchange filing. “JSW Vijayanagar Metallics Ltd (JVML), a wholly-owned
Daniel Julius | Posted on March 29, 2024 | Let’s dive deeper into the electrifying waters of lithium-ion batteries, where the University of Liverpool’s recent breakthrough is making waves. Their latest technology promises a future where “fast” is an understatement when it comes to charging our electric chariots and techno-gadgets. In this brave new world
Christopher Rivituso | Posted on March 28, 2024 | Liberty Steel recently won a contract to supply pipelines from its Hartlepool steel manufacturing site in the United Kingdom for energy infrastructure and carbon-capture projects. Liberty’s parent company, GFG Alliance, said in a March 15 statement that Liberty Pipes Hartlepool (LPH), located in northeast England, will
Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals
The Department for Business and Trade (DBT) launches the Hydrogen Propulsion Manufacturing Taskforce. The Department for Business and Trade has launched the first meeting of the Hydrogen Propulsion Manufacturing Taskforce. The Taskforce will be led by Steve Scrimshaw, former CEO of Siemens Energy. Today (27 March) the Hydrogen Propulsion Manufacturing Taskforce had its inaugural meeting.
The Enforcement Directorate (ED) has filed a supplementary prosecution complaint (equivalent to a chargesheet) in the misappropriation of funds by Bhushan Steel and Bhushan Energy involving its former promoters, Brij Bhushan Singal and Neeraj Singal, among others.The agency has made the kin of Brij Bhushan and Neeraj Singal accused in the supplementary chargesheet besides other
Worldsteel reported crude steel production in China at 81.2 million metric tonnes in February, 3.5% higher than in February, 2023. Chinese production in the first two months of 2024 was 1.8% lower than in the same period last year. Data from China’s General Administration of Customs show net finished steel exports (exports minus imports) for
Christopher Rivituso | Posted on March 26, 2024 | The latest steel news and sources from the UK indicates that the Community trade union plans to ballot its members at Tata Steel for strike action. The move comes amid plans by the company to replace two blast furnaces at the Port Talbot site with electric
Worldsteel published February world crude steel production on Friday. World crude steel output was 148.8 million metric tonnes, 3.7% higher than in February, 2023. China produced 81.2 million tonnes in February, accounting for 55% of world output and rising 3.5% compared to February, 2023. World crude steel production outside of China rose 3.9% on last
Nichole Bastin | Posted on March 25, 2024 | Aluminum prices remain entrenched within a sideways trend. Following a 2.78% month-over-month decline in February, prices retraced throughout the first three weeks of March to where they currently stand: 2.17% above their February close. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a 2.36%
Jennifer Kary | Posted on March 22, 2024 | After several months of slight upward momentum, the Renewables MMI (Monthly Metals Index) broke the sideways-to-upward trend, declining by 8.89%. Neodymium dropping in price proved to be the main culprit for the index dropping. Every other component of the index either moved sideways or slightly down.
Naveen Jindal made president of steel lobbyET BureauLast Updated: Mar 22, 2024, 12:54:00 AM ISTSynopsis”For India to realise its development goals, steel along with its upstream and downstream manufacturing value chains have to grow in tandem,” Jindal was quoted as saying. Dilip Oommen, the CEO of AMNS India was previously the president for the industry
Sohrab Darabshaw | Posted on March 21, 2024 | Investors, traders, and the metals community continue to anticipate fresh stimulus measures from China’s top leaders, which could potentially kickstart economic growth, increase metals consumption, and affect metal prices. However, they remain rather disappointed with Beijing’s target 5% growth for 2024. Moreover, demand has remained subdued
Nichole Bastin | Posted on March 20, 2024 | Nickel prices inverted to the upside in February, with an 8.71% month-over-month rise. Following a 3.53% increase during the first weeks of March, prices appeared to stagnate after they found at least a short-term peak on March 13. Overall, the Stainless Monthly Metals Index (MMI) remained
Based on reported import licenses, US long products imports fell 15% from 332,000 short tons in February 2023 to 281,000 tons in February 2024 (despite February 2024 having 1 more day). The decline was mainly due to lower rebar imports from Turkey and Algeria. US long products imports in the first two months of 2024
NEW DELHI: Jindal Stainless on Tuesday said it will supply high-end stainless steel grade to JBM Auto for manufacturing of 500 lightweight electric buses. Under a partnership with JBM Auto, it will provide JT Tubes, made up of low-carbon, chromium-manganese austenitic stainless steel to the e-bus maker, Jindal Stainless Ltd (JSL) said in a statement.
Christopher Rivituso | Posted on March 19, 2024 | Market sources report that hot rolled coil steel prices in northern and southern Europe continued to decline in recent weeks due to slowing economies in Europe as well as overcapacity. “I’m a little scared about Germany,” one trader told MetalMiner, referring to that country’s current economic
Tata Steel said on Monday it has decided to cease operations of coke ovens at the Port Talbot plant, in Wales, following a “deterioration of operational stability”.Coke ovens are manufacturing plants or blast furnaces for making coking coal, a key raw material in steelmaking.”Tata Steel UK will increase imports of coke to offset the impact
By mid-March, copper prices hit their highest level since April 2023. Prices previously found a bottom in early February before strong upside momentum saw them topple previous peaks within their long-term sideways trend. While prices clocked a moderate1.74% month-over-month decline throughout February, they rose 4.12% during the first two weeks of March. Overall, the Copper
Mumbai: The Mumbai police on Saturday filed a closure report in the rape case registered by a 30-year-old woman against JSW Group chairman Sajjan Jindal, absolving him of the allegations, said people with knowledge of the matter. The city police submitted a B summary report under the provisions of the Code of Criminal Procedure (CrPC)
Jindal Stainless supplies steel for Kolkata Metro’s underwater projectPTILast Updated: Mar 17, 2024, 07:01:00 PM ISTSynopsisJindal Stainless supplied ‘SS 301LN’ grade steel for Kolkata Metro’s Esplanade-Howrah Maidan section under the Hooghly River, inaugurated by PM Narendra Modi. The project offers a low-maintenance, cost-effective solution for the metro infrastructure.Jindal Stainless Ltd on Sunday said it supplied
During Women’s History Month, MetalMiner, a woman-owned and founded company, wanted to make space to celebrate the contributions of countless women who help make the industrial metals sector great. On March 7, the Chicago chapter of the Association of Women in the Metals Industry (AWMI) hosted a dinner to honor the many women who work
The MetalMiner Team | Posted on March 14, 2024 | Once again, the Global Precious Metals MMI (Monthly Metals Index) failed to exhibit strong bearish or bullish pressure. The index remained sideways throughout February, budging down a mere 0.65%. Despite this, some bullish pressure did seep into precious metal prices at the beginning of March
Nichole Bastin | Posted on March 13, 2024 | The Raw Steels Monthly Metals Index (MMI) moved sideways amid bearish steel prices, with a modest 1.75% increase from February to March. U.S. flat rolled steel prices stayed bearish over the past few weeks. Meanwhile, HRC prices remained 22% beneath their peak at the close of
The centre has exempted inputs used in products meant for export from quality control orders (QCOs) issued by the Steel Ministry. According to a gazette notification, this relaxation has also been extended to QCOs issued by the Department for Promotion of Industry and Internal Trade (DPIIT), and the Textiles Ministry.These changes have been made by
Based on reported import licenses, US flat products imports rose 27% from 548,000 short tons in February, 2023 to 697,000 tons in February, 2024. The increase was mainly due to higher hot dip galvanized imports from Canada, South Africa, Vietnam, Austria and the UAE. Cold rolled imports also rose significantly from Australia and Canada. US
Sohrab Darabshaw | Posted on March 12, 2024 | One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via
Stuart Burns | Posted on March 11, 2024 | The European aluminum manufacturing industry is under attack from two short- and medium-term threats, both of which have the potential to significantly impact aluminum consumers across the region. Threat #1: Potential Russian Aluminum Ban, Aluminum Manufacturing Shortage The first threat is the widely debated possibility of
NEW DELHI: The Enforcement Directorate (ED) on Friday said it has attached immovable assets worth Rs 367 crore in Delhi, Mumbai, Kolkata and some cities in Odisha as part of a money-laundering probe linked to an alleged bank-loan fraud against Bhushan Steel Limited (BSL).A provisional order has been issued under the Prevention of Money Laundering
Jennifer Kary | Posted on March 8, 2024 | Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint
Centre extends procurement preference for locally made steel by six monthsBy , ET BureauLast Updated: Mar 07, 2024, 09:34:00 PM ISTSynopsisThe Steel Ministry extended the DMI&SP policy for preferential procurement of locally manufactured steel products by six months. The policy mandates preference for products with 15%-50% value addition in procurement orders by public sector undertakings
New Delhi: India’s domestic steel consumption growth is likely to come down to 7-8 per cent in the next financial year against an estimated 12-13 per cent this fiscal due to moderate government spending during the election period, Icra said in a report on Thursday. Elevated input costs, import pressures, along with softer steel prices
Christopher Rivituso | Posted on March 7, 2024 | The West African state of Guinea recently approved a joint development deal between the government, Rio Tinto/Simfer, and the Winning Consortium Simandou (WCS) consortia to develop the Simandou iron ore mining project. The National Transition Council (NTC), Guinea’s legislative body under the interim regime, announced the
New Delhi: JSW Steel on Wednesday said that it has appointed Robert Simon as Chief Executive Officer of JSW, USA. In his role, he will lead the overall business in the USA, comprising slab, coil, pipe and plate production, and sales at Baytown and Mingo Junction, the company said in a statement. Before joining JSW
Jennifer Kary | Posted on March 6, 2024 | Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive
The MetalMiner Team | Posted on March 5, 2024 | The Rare Earths MMI (Monthly Metals Index) experienced a pretty significant drop month-on-month, falling 24.73%. Save for cerium oxide, all components of the index either fell or moved sideways. Weaker than anticipated downstream demand ended up hitting certain metals related to rare earth magnets particularly
Chancellor to announce significant funding package for R&D and manufacturing projects across the life sciences, automotive and aerospace sectors. £92 million joint government and industry investment to expand facilities to manufacture life-saving medicines and diagnostics products. £200 million joint investment in zero-carbon aircraft technology to develop a more sustainable aviation sector and almost £73 million
In July, India became a net importer of steel for the fourth time in the last year. And therein lies a tale of tariffs, changes in steel prices, and supply and demand. However, before discussing those issues, it’s important to revisit the facts. A recent report by India’s Steel Ministry revealed the country became a
Jimmy Chiguil | Posted on March 1, 2024 | The start of the new year presented mixed signals for the global economy and overall financial markets. An optimistic government outlook and positive US economic data initially fueled enthusiasm and anticipation for future developments. However, interest rate fears, rising geopolitical tensions, and concerns regarding future economic growth
JSW Steel incorporates subsidiary for hot, cold-rolled steel productsPTILast Updated: Feb 29, 2024, 10:15:00 PM ISTSynopsisJSW Green Steel Ltd has now become its wholly-owned subsidiary, the company said. “The new entity has been incorporated for manufacturing of hot-rolled and cold-rolled products of steel, which is in line with the main line of business of the
Christopher Rivituso | Posted on February 29, 2024 | The European Commission, the executive body of the European Union, is due to examine a request to extend a 25% safeguard on a range of steel imports. Steel news reports that the EC received a request from 14 member states of the 27-member bloc on January 12.
The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply
The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply
Good morning and thank you to Make UK – not just for inviting to me to speak to you today but for your tireless work in both championing and celebrating the best of British manufacturing. We’re going to spend a lot of today talking about the innovations of tomorrow, and it’s right that we do
West Bengal Chief Minister Mamata Banerjee on Tuesday virtually inaugurated Shyam Steel’s Rs 1,500-crore integrated plant in Purulia district. This is the fourth facility of the company in the state with three others located in Durgapur and Bankura. Spread over an area of 600 acres, the new steel plant at Raghunathpur will have a capacity
Christopher Rivituso | Posted on February 27, 2024 | Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. The company halted steel manufacturing activities at its assets in Mariupol, Avdiivka, and Zaporizhzhia two years ago. This
Christopher Rivituso | Posted on February 27, 2024 | Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. On February 16, the company announced its decision to halt steel manufacturing activities at its assets in Mariupol
The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several
The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several
Worldsteel published January, 2024 world crude steel production today. World steel output was 148.1 million metric tonnes, 1.6% lower than in January, 2023. China produced 77.2 million tonnes in January, accounting for 52% of world output and falling 6.9% compared to January, 2023. In other parts of Asia, Indian crude steel production rose 7.3% on
Kalyani Steel Ltd on Friday signed an MoU with the Odisha government to set up a manufacturing facility with an investment of Rs 11,750 crore. The project for manufacturing titanium metal, aerospace and automotive components and advanced speciality steel at Gajamara in Dhenkanal district will create 10,000 job opportunities, the company said in a statement.
Rashtriya Ispat Nigam Limited (RINL) has sought proposal for sale of non-core surplus freehold land parcels at its Visakhapatnam project. The move comes at a time when RINL is eying measures to trim debt. According to the request for proposal (RFP) document, RINL wants to sell 13.89 Acres of non-contiguous land plots. In all, 111
Christopher Rivituso | Posted on February 22, 2024 | The United Kingdom’s Trade Remedies Authority (TRA) recently initiated a suspension review on safeguard measures against hot rolled flat and coil steels. Steel news sources report that the move also came alongside a tariff quota review. TRA reported on February 9 that both Tata Steel UK
André Bier Gerdau Johannpeter discusses how Gerdau is organizing itself to lower steelmaking emissions in Episode 6 of The Green Steel Challenge, just released. The podcasts are produced by the Korf Foundation and Kallanish Commodities and the discussion is all about how exactly we can deliver Green Steel. While past episodes have focused on other
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