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EU steel demand to fall 1.6% in 2023 on costs, supply chain ...
Sat, 04 Feb 2023 00:00:00 GMT
Steel demand in the European Union is expected to drop 1.6% this year, hit by raging inflation, supply chain problems and cheap imports, industry group Eurofer said on Thursday. That is slightly more optimistic than the 1.9% drop in apparent steel demand the group forecast when it last updated its outlook in October. Apparent steel demand measures steel output plus imports net of exports and incoming material being further processed in the bloc. However, it downgraded its estimate for demand
https://www.hellenicshippingnews.com/eu-steel-demand-to-fall-1-6-in-2023-on-costs-supply-chain-eurofer/


Steelcon Group of Companies establishes U.S. headquarters
Fri, 03 Feb 2023 12:44:00 GMT
Steelcon Group of Companies, Brampton, Ont., has acquired Hammett Steel, a structural and miscellaneous steel fabricator based in Columbus,
https://www.thefabricator.com/thefabricator/news/metalsmaterials/steelcon-group-of-companies-establishes-us-headquarters


Kyrgyzstan: miners and metallurgists ask to increase their wages
Fri, 03 Feb 2023 10:17:47 GMT
The trade union receives numerous appeals from workers of the industry enterprises on the issue of wage increase, the Chairman of the Central Committee of the Mining and Metallurgical Trade Union of Kyrgyzstan Eldar Tadzhibaev has said. The miners and metallurgists are demanding better wage conditions, namely, a two-fold increase in pay rates and
https://metalukraine.com/2023/02/03/kyrgyzstan-miners-and-metallurgists-ask-to-increase-their-wages.html


Iron ore hits 2-week low as China rally fizzles out
Fri, 03 Feb 2023 00:00:00 GMT
Iron ore futures fell to a two-week low on Thursday as traders reassessed demand prospects in key consumer China, despite expectations for more policy stimulus to support the countrys economic rebound. Iron ore and steel prices in China hit multi-month highs in January as markets rallied from early November on the back of Beijings stepped-up policy support for its ailing property sector and dismantling of strict COVID-19 curbs. The steelmaking ingredient has risen more than 9% this year on
https://www.hellenicshippingnews.com/iron-ore-hits-2-week-low-as-china-rally-fizzles-out/


Eurofer lowers consumption growth forecast after Q3 low
Fri, 03 Feb 2023 00:00:00 GMT
EU apparent steel consumption (ASC) is forecast to see a deeper-than-expected drop of 4.6% on-year for 2022, compared to the previous 3.5% fall projection. Consumption in 2023 is expected to decline a further 1.6%, says European steelmakers association Eurofer. Despite the general resilience of the EU economy, in the third quarter of 2022 apparent
https://eurometal.net/eurofer-lowers-consumption-growth-forecast-after-q3-low/


Ukraine: PGOK chief accountant suspected of tax evasion
Thu, 02 Feb 2023 09:55:45 GMT
The chief accountant of Poltava Mining and Processing Works is suspected of the company not paying taxes for 2 billion UAH. According to the State Security Service, in 2018-2021 the suspect entered false data into official documents of the company, in particular on the payment for the use of the iron ore deposit. During
https://metalukraine.com/2023/02/02/ukraine-pgok-chief-accountant-suspected-of-tax-evasion.html


North American Steel Alliance announces addition of newest Operational ...
Thu, 02 Feb 2023 00:00:00 GMT
Greenway Steel advocates for a sustainable global steel industry, the metals supply chain, and manufacturing.
https://www.modernmetals.com/itemlist/category/2.html


Steel Mills Keen on Producing Post CNY Holiday with Elevated ...
Thu, 02 Feb 2023 00:00:00 GMT
According to SMM survey, the average operating rate of blast furnaces at steel mills gained 0.44 percentage point from a week ago to 91.52% as of February 1. The average capacity utilisation rate of blast furnaces was up 0.19 percentage point week-on-week to 92.57%. The daily average pig iron output of the steel mills in SMMs survey sample stood at 2.21 million mt, an increase of 4,600 mt from the previous week. SMM estimates that the daily average pig iron output across the country stood
https://www.hellenicshippingnews.com/steel-mills-keen-on-producing-post-cny-holiday-with-elevated-operating-rates-of-blast-furnaces/


Jindal Steel net profit falls 67% to 519 cr in Q3, revenue dip ...
Thu, 02 Feb 2023 00:00:00 GMT
Jindal Steel on Tuesday reported 67.9 per cent decline in consolidated net profit to 518.67 crore for the December 2022 quarter. This is against a net profit of 1616.67 crore in the year ago period. The consolidated revenue from operations declined by 0.57 per cent to 12,452.44 crore as against 12524.86 crore in the corresponding quarter last fiscal. Jindal steel and Power reported production of 2.06 Mt during the quarter, which was 13% higher sequentially. The sales came in at 1.90 Mt,
https://www.hellenicshippingnews.com/jindal-steel-net-profit-falls-67-to-%E2%82%B9519-cr-in-q3-revenue-dip-0-57-mint/


Flat steel producer Acciaierie d'Italia to boost production in ...
Thu, 02 Feb 2023 00:00:00 GMT
Italian integrated flat steel producer Acciaierie dItalia (ADI) has confirmed its plans to boost crude steel production to 4 million mt in 2023 and to 5 million mt in 2024, the company told S&P Global Commodity Insights Feb. 1. This is up from production of below 3 million mt in 2022, according to market
https://eurometal.net/flat-steel-producer-acciaierie-ditalia-to-boost-production-in-2023-2024/


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Iron ore hits 2-week low as China rally fizzles out
Fri, 03 Feb 2023 00:00:00 GMT
Iron ore futures fell to a two-week low on Thursday as traders reassessed demand prospects in key consumer China, despite expectations for more policy stimulus to support the countrys economic rebound. Iron ore and steel prices in China hit multi-month highs in January as markets rallied from early November on the back of Beijings stepped-up policy support for its ailing property sector and dismantling of strict COVID-19 curbs. The steelmaking ingredient has risen more than 9% this year on


Governor rejects proposed Ford EV battery plant in Virginia
Wed, 01 Feb 2023 12:25:00 GMT
Virginia Gov. Glenn Youngkin has rejected Ford Motor Co.s proposed electric vehicle battery plant in that state, citing his objection to the involvement of Chinese battery maker Contemporary Amperex Technology Co.


Iron ore dips as traders weigh China demand
Wed, 01 Feb 2023 00:00:00 GMT
Iron ore futures fell on Tuesday, with the Dalian benchmark price pulling back from the previous sessions contract high, as traders assessed demand in top steel producer China while also keeping an eye on regulatory risks. The steelmaking ingredient, however, was on track for a 2% monthly gain in the Dalian Commodity Exchange. It has risen 11% on the Singapore Exchange this month, in a rally driven by improved demand prospects after China dismantled strict COVID curbs. The so-called China




Middle East Media Releases



Borusan Mannesmann to start new Romania steel pipe facility end-2023
Thu, 02 Feb 2023 00:00:00 GMT
Turkeys largest steel pipe producer Borusan Mannesmann will start construction of its new steel pipe facility in Romania in March, which is scheduled to start serial production at the end of 2023, it said Jan. 31. We will process pipes at the facility to meet our automotive customers special pipe requirements, like cylinder tubes


Romanian steel pipe group sold by Russian owner to Serbian investment ...
Tue, 24 Jan 2023 00:00:00 GMT
Romanian pipe manufacturer Artrom Steel Tubes has been acquired by Belgrade-based investment banking company Hefestos Capital from Russian pipemaking group TMK, Artrom said in a statement emailed to S&P Global Commodity Insights. The sale of Artrom may have been necessitated by pressure from the Romanian government to disassociate industrial enterprises from the Russian business,


TMK deconsolidates EU steel mills; Rusal about to lose alumina ...
Fri, 13 Jan 2023 00:00:00 GMT
Russian steel pipe maker TMK and Russian aluminum producer Rusal are set to lose some of their foreign assets the former in the EU and the latter in Ukraine, industry sources told S&P Global Commodity Insights Jan. 12. Romanian steel pipe manufacturer TMK-Artrom is changing its name to Artrom Steel Tubes due to




South America Industry Headlines



Benteler terminates the previously-announced sale to Tenaris ...
Sun, 05 Feb 2023 13:20:00 GMT
LUXEMBOURG , Feb. 05, 2023 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico : TS and EXM Italy: TEN) announced today that Benteler North America Corporation has exercised its right to unilaterally terminate, effective immediately, the previously-announced agreement for the sale to Tenaris of


Recognition of a lifetime in the metals business at Target Steel
Mon, 30 Jan 2023 16:00:00 GMT
Valentino Simone started Target Steel in 1988. In this interview, he looks back on his career in metals distribution.


Ukraine: rolled metal prices to grow in early 2023
Wed, 14 Dec 2022 10:28:45 GMT
In 2022, ferrous rolled metal in Ukraine increased in price by 21-28% YoY. According to Sergey Kovalenko, director of the National network of metal centers Vartis, the increase was due to the Russian invasion and inflation rate growth. The war has also affected demand and manufacturing capacities. In the second half of February 2023







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