Metallurgy news

• Thyssenkrupp cuts 11,000 steel jobs Thyssenkrupp AG will cut nearly twice as many jobs as planned as the beleaguered conglomerate's steel business spends money and the German government disputes a possible bailout. The company said in a statement that the company will liquidate 11,000 jobs over the next few years. He projects a... 20.11.2020  11:23

• China's Nanjing Iron & Steel invests in a coke project in Indonesia China's Nanjing Iron & Steel Co Ltd said Wednesday it is investing in a coke plant in Indonesia to circumvent China's stricter environmental regulations and build new capacity closer to Australia's major coking coal exporter. The plant will have a capacity of 2.6 million tons per year, the... 20.11.2020  11:18

• South Korea's steel production to decline in 2020 South Korea's total crude steel production in the first 9 months of this year was only 49.6 million tonnes, down 7.5% from a year earlier, according to a report from the Korea Iron and Steel Association. For the full year, South Korea's crude steel production could be between 67 and 68 million... 19.11.2020  14:18

• Purchase order prices in China have risen As a result of rising domestic demand in China, prices for raw materials and steel semi-finished products have recently increased. Although rebar prices are currently down, this still could not stop the rise in scrap. Based on market news, some Chinese buyers are even agreeing to buy... 19.11.2020  14:16

• Abramovich will build a coke-chemical giant Steel concern Evraz wants to consolidate its coking coal assets in Russia. The company intends to become one of the world's leading suppliers of coal to the steel industry. The basis for the consolidation is the Raspadskaya mine (the largest in Russia), owned by the Yuzkuzbasugol concern. Evraz... 19.11.2020  14:01

• Steel consumption in China increased by almost 20% in September According to statistics from China, the total apparent consumption of crude steel in China in September this year was about 94 million tons, an increase of 19.8% year on year, and showed that it reached 90 million tons for the 5th consecutive month. Among them, in the first 9 months of this... 18.11.2020  11:10

• Morgan Stanley: the growth of the world economy in 2021 will be 6.4% According to the latest forecast by Morgan Stanley, one of the world's leading investment banks, the global economy could grow 6.4% next year. The main reason for the strong prognosis was mainly due to a decrease in worries about the Covid-19 epidemic based on the released new vaccine. Among... 18.11.2020  11:08

• Iron ore futures close higher Iron ore futures closed higher on Tuesday in daytime trading on the Dalian Mercantile Exchange (DCE). The most active iron ore contract in January 2021 rose 22 yuan (about $ 3.34) to 855 yuan per tonne. On Tuesday, the total trading volume of 12 iron ore futures contracts on the exchange was... 18.11.2020  11:06

• Tata Steel in talks with SSAB to sell the plant India-headquartered steel company Tata Steel announced that it is in talks with Swedish steel company SSAB AB to sell a subsidiary in the Netherlands. The company said in a media statement that discussions about the potential sale of the business have already begun. The proposed acquisition will... 17.11.2020  10:12

• US steel industry expects to benefit from infrastructure investment Kevin Dempsey, interim president and chief executive officer of the American Iron and Steel Institute (AISI), said the steel industry is likely to benefit if the new administration, under President-elect Joe Biden, decides to prioritize spending on infrastructure projects. He added that the... 17.11.2020  10:04