Tata Steels Merger Plan to Yield Gains Over the Longer TermSat, 01 Oct 2022 00:00:00 GMT
Fitch Ratings expects Tata Steel Limiteds (TSL, BB+/Positive) plan to merge with seven units to result in higher EBITDA from procurement and marketing synergies, and lower royalty payments. However, the financial gains are likely to be small and could take several quarters to be realised, depending on the pace of regulatory approvals. India-based TSL announced on 22 September 2022 that its board has approved its merger with six subsidiaries and one associate, using share swaps instead of
Iron ore marks quarterly losses on China COVID, property woesSat, 01 Oct 2022 00:00:00 GMT
Dalian and Singapore iron ore marked their second quarterly losses, despite some gains on Friday, as worries over a stringent zero-COVID policy and property sector jitters in top steel producer China continued to dominate markets. However, hopes of sustained policy support for the ailing Chinese economy and increased construction-related demand for steel lent some support to the steelmaking ingredient. The most-traded January iron ore on Chinas Dalian Commodity Exchange closed 0.1% higher
Data providersFri, 30 Sep 2022 12:04:05 GMT
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S. Korea: Shutdowns and strikes spell trouble for steel suppliesFri, 30 Sep 2022 00:00:00 GMT
Supply disruptions loom in Koreas steel industry as the countrys two largest steelmakers are struggling to fully operate their plants. Posco is still in the process of restoring its Pohang plant that was flooded by Typhoon Hinnamnor earlier this month, while labor unions at Hyundai Steel have been going on a series of strikes after negotiations failed. The two companies dominate over 80 percent of Koreas crude steel production. The price of hot-rolled steel stood at 1.1 million won ($773)
Ukraine: metal plants capacity at 15% of pre-war levelThu, 29 Sep 2022 08:54:25 GMT
At present only 6 metal enterprises situated on the non-occupied territories operate in Ukraine. Their average capacity is 15% of the pre-war level. Mining enterprises are better off, as their capacity is around 25%. At the same time, operation at Ingulets GOK, UGOK and AMKR mining and processing works has been suspended. The situation
Weak demand, cheaper imports put pressure on European flat steel ...Thu, 29 Sep 2022 00:00:00 GMT
European flat steel prices were stable to slightly weaker in the seven days to Wednesday, September 28, amid limited end-user demand, overstocking and competitive cold-rolled coil import offers, sources toldFastmarkets.The subdued demand from key end-user sectors including the automotive industry that have high stock levels, has kept trading activity at a minimum
Steelmaker ArcelorMittal, Zeleros to collaborate on hyperloop ...Thu, 29 Sep 2022 00:00:00 GMT
ArcelorMittals rail business in Europe and European hyperloop developer Zeleros are collaborating to find the right steel material to scale up Zeleros hyperloop to perform in ultra-high-speed conditions, the companies said Sept. 28. A hyperloop is an ultra high-speed transportation system for public and goods transport. As part of the collaboration, the partners have
Steel plate prices stabilize in Italy, Northern Europe amid sufficient ...Thu, 29 Sep 2022 00:00:00 GMT
Steel plate prices in Italy and Northern Europe flattened in the week to Wednesday September 28 amid sufficient daily demand, while the availability of cheap slab has had no effect on the Italianmarketyet, sources toldFastmarkets. ItalySources reported that trading activity in Italys platemarkethas been quite good during the month of September. Local re-rollers are
Danieli forecasts another good year on green steel plants and ...Thu, 29 Sep 2022 00:00:00 GMT
Italian engineering company and steel producer Danieli has published a bullish outlook for the upcoming financial year, expecting a significan't order book as its customers invest in new green steel plants and more efficient and sustainable steel production. This will continue to sustain voumes and margins within Danielis Plantmaking segment, the company said in
JSW, Japan's JFE plan to invest $1 billion in specialty steelThu, 29 Sep 2022 00:00:00 GMT
A feasibility study commissioned by the two companies last year for manufacturing grain oriented electrical steel in India was close to completion and they would be ready to take a call on the project by December, according to Seshagiri Rao, joint managing director of JSW
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