Metallurgy news

• Korean steelmakers prepare for EU carbon tax Korean steelmakers and other companies exporting goods to Europe are expected to pay a new carbon tax in the second half of 2023 as the European Union plans to make it more expensive to export steel, cement, fertilizer, aluminium, electricity and hydrogen to the continent. , according to industry... 16.12.2022  10:50

• Indonesia has no plans to resume exports of nickel ore Irvandi Arif, senior adviser to the Indonesian Minister of Energy and Mineral Resources, said that there are currently no plans for Indonesia to resume exports of nickel ore. The government plans to introduce duties on the export of ferronickel. The Indonesian government has not made a decision... 14.12.2022  10:22

• Outlook for the global steel sector deteriorates due to lower consumption Fitch Ratings notes that the global steel sector will not be able to fully recover in 2023 after a shift in supply and demand in favor of end markets driven by reduced consumption in 2H22. We expect steelmakers' earnings to drop significantly as the slowdown in global economic growth ends a period... 14.12.2022  10:20

• Chinese Baosteel raises prices for January The Chinese company Baoshan Iron & Steel (Baosteel) raised its new prices for January. Prices for key products such as hot-rolled and cold-rolled steel rose by 200 and 150 yuan per ton, respectively. According to the price adjustment, the base prices of thick plate, hot rolled steel, cold rolled... 14.12.2022  10:18

• German SAP and Salzgitter develop digital transformation in metallurgy SAP SE, a German multinational software company, and Germany's Salzgitter AG have decided to collaborate to accelerate the digital transformation of climate-smart steel production. Salzgitter said that the cloud solutions developed by SAP play an important role in the development of green steel.... 12.12.2022  10:11

• Export of hot-rolled steel from Turkey decreased in October According to the Turkish Statistical Institute (TUIK), Turkey's hot-rolled coil (HRC) exports totaled about 166,000 tons in October, down 43% from last year. The decline was mainly due to lower demand from the EU and the US. Among them, exports to Italy amounted to about 27,000 tons, down 59%... 12.12.2022  10:10

• European electricity tariffs rose in November due to rising demand It turned out that the European electrical charge in November was clearly higher. There are several reasons for this: wind power capacity in Northern Europe is declining, nuclear power in France is smaller, and demand for electricity and natural gas has increased due to the cold winter. European... 12.12.2022  10:08

• The British government approved the construction of a new coal mine, despite the protests of environmentalists The UK government gave the go-ahead for construction of the UK's first new coal mine in 30 years late on December 7 amid strong environmental opposition that could derail the project without a launch date being announced. West Cumbria Mining's Whitehouse Mine project at Whitehaven in the North... 09.12.2022  11:34

• Saudi Arabia to build world's tallest building using steel The Saudi Arabian Sovereign Fund, the Public Investment Fund (PIF), has invited companies to bid for a design competition to build a 2 km tower as part of an 18 km2 master planned development north of Riyadh, west of the existing King Khalid International Airport . The proposed tower will be... 09.12.2022  11:22

• Chinese steel exports grew by 0.4% y/y in January-November According to the latest data released by the General Administration of Customs of China (GACC), steel exports from China for January-November amounted to 61.95 million tons, showing a slight increase of 0.4% year on year compared to a fall of 1.8% year on year. calculation for the first 10... 08.12.2022  11:52