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Iron ore rises as Chinese steel mills resume ramping up output
Wed, 28 Sep 2022 00:00:00 GMT
Iron ore futures rose on Tuesday, with Singapore prices rebounding after two straight sessions of losses, as top steel producer China resumed ramping up output to cash in on increased construction activity during the September-October peak season. Benchmark October iron ore on the Singapore Exchange climbed 1.5% to a session high of $97.05 a tonne, while the September contract rose 0.2% to $98.60. On Chinas Dalian Commodity Exchange, the most-active January iron ore contract DCIOcv1 ended

What is net-zero steel, why do we need it and how do we achieve ...
Mon, 26 Sep 2022 00:00:00 GMT
Driving emissions out of the steel sector is key to broader decarbonization. It has the potential to provide early wins that can help keep warming to below 1.5C, with low costs to the industry as a whole and consumers. But achieving decarbonization of steel requires collaboration across the industry, throughout its value chain and with policymakers and investors. Net-zero steel will cost more than steel made with conventional processes, even in the medium term. Bridging this cost

French rebar market drags on gloomy sentiment
Mon, 26 Sep 2022 00:00:00 GMT
French rebar activity remains relatively weak, with slow demand from larger and smaller buyers. They continue to purchase small tonnages but at stable prices, sources tellKallanish. Domestic production is patchy with steelmakers alternating between stoppages and restarts each week. Production plans are changing according to daily supply of gas and electricity. Sentiment however is

EU coil supply-demand balance remains elusive amid stoppages
Mon, 26 Sep 2022 00:00:00 GMT
Numerous European coil mills have reduced their output, idling blast furnaces here and rolling mills there, but a resulting market supply shortage that would lift prices is yet to be felt. Inventories at stockholders and consumers are still very full, according to sources in various countries. Mills have taken the necessary measures, but the

Tata Steel to merge seven group companies with self
Sat, 24 Sep 2022 00:00:00 GMT
Four of these companies - Tata Steel Long Products, Tinplate Company, Tata Metaliks and TRF - are listed. Their stocks declined after the merger announcement, falling between 5% and 12%, amid a broader emerging-market equities sell-off triggered by the climb of the dollar index to a fresh

Weak Profitability of Chinas Steel Sector to Stabilise at Low ...
Tue, 20 Sep 2022 00:00:00 GMT
Chinas steel sector continues to face challenges from weaker than expected demand from the property sector, further complicated by Covid-19 pandemic-related restrictions that continue to disrupt construction activity. However, Fitch Ratings does not expect further deterioration in sector profitability following production cuts in response to the weak demand, while high raw material prices should support average selling prices (ASPs), albeit at low levels. We expect the full-year performance

Vallourec forecasts continued growth this year
Tue, 20 Sep 2022 00:00:00 GMT
French pipemaker Vallourec continues to foresee positive market dynamics thanks to higher drilling and OCTG prices, driven by global demand recovery and the inflationary environment, the company says in an investors presentation obtained by Kallanish. Thanks to continued improvement in its tube division, particularly in North America, which is forecast to offset lower performance

Essar to invest USD 4 bn in steel plant in Saudi Arabia
Tue, 20 Sep 2022 00:00:00 GMT
The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said. The plant, which will cost Saudi Riyal 15 billion (USD 4 billion), is scheduled to break ground by this year-end and be completed by the end of 2025, said Amar Kapadia, general manager for corporate planning at

Chinas winter output cuts may give limited boost to steel markets
Mon, 19 Sep 2022 00:00:00 GMT
China is expected to enforce winter steel output cuts in the countrys northern region as a way to reduce smog. However, these cuts to be implemented in the fourth quarter are unlikely to reduce Chinas crude steel output on a large scale, raising oversupply concerns that could weigh on steel prices in coming months, sources said. Although final details of the winter steel output cuts for 2022 remain unclear, some market sources expected them to be similar to those in 2021. Steelmakers in

MENA can lead the world in green steel production Report
Sat, 17 Sep 2022 00:00:00 GMT
The Middle East and North Africa (MENA) region is in a prime position to start producing carbon-neutral or green steel, a new report from the Institute for Energy Economics and Financial Analysis said. The MENA region can lead the world if it shifts promptly to renewables and applies green hydrogen in its steel sector, said author of the report Soroush Basirat. The steel sector in the region is dominated by Direct Reduced Iron-Electric Arc Furnace (DRI-EAF) technology, which releases lower

Iron ore, steel futures fall on China property woes
Sat, 17 Sep 2022 00:00:00 GMT
Dalian and Singapore iron ore futures fell on Friday after data showed Chinas property sector contracted further in August, with a seasonal demand boost usually seen beginning September not yet in sight. Property investment last month in the worlds top steel producer fell at the fastest pace since December 2021, according to Reuters - calculations based on official data. New home prices fell 1.3% year-on-year, the fastest pace since August 2015. The most-traded January iron ore on Chinas

ArcelorMittal expects its Europe steel production to fall 1.5 ...
Sat, 17 Sep 2022 00:00:00 GMT
ArcelorMittal expects its steel production in Europe to fall by around 1.5 million tonnes in the fourth quarter compared with the year-earlier period as it idles capacity due to weakening demand and soaring energy prices, the company said. The worlds largest steelmaker earlier this month said it would curb output in Germany, Poland and Spain, notably by halting one blast furnace in each country. Steelmaking is among energy-intensive industries grappling with mounting costs as reduced

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