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
Steelcon Group of Companies establishes U.S. headquartersFri, 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,
Kyrgyzstan: miners and metallurgists ask to increase their wagesFri, 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
Iron ore hits 2-week low as China rally fizzles outFri, 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
Eurofer lowers consumption growth forecast after Q3 lowFri, 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
Ukraine: PGOK chief accountant suspected of tax evasionThu, 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
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.
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
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,
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
Number of steel news articles: 10Subscribers get access to full set of recent press releases (up to 20 world media releases).
Click here to subscribe.