Metallurgy news

• Vietnamese company Ha Tinh Steel cut production by 15% Due to sluggish demand in Vietnam's domestic market and multiple sources of imports from China and South Korea, many Vietnamese steel mills have stopped or reduced production. Vietnam's Formosa Ha Tinh Steel Corporation (FHS) was also hit by oversupply and tried to boost exports. However, demand... 11.11.2022  10:17

• Strike continues at Hyundai Steel plants South Korean steel maker Hyundai Steel is considering exporting semi-finished products as strikes by workers at its factories in Dangjin and Pohang continue. Local industry reports show that Hyundai Steel is pushing ahead with a plan to export semi-finished products such as boards produced at... 11.11.2022  10:14

• Baosteel maintains steel prices in December The Chinese company Baoshan Iron & Steel (Baosteel) has announced new prices for December. Prices for key products, such as hot-rolled and cold-rolled steel, remained at the same level. In line with the price adjustment, the base prices for plate, hot-rolled steel, cold-rolled steel, pickled... 11.11.2022  09:48

• Goa has 260 million tons of iron ore reserves According to figures released by the Government Accounting Standards Advisory Board (GASAB), only 260 million tons of iron ore reserves remain in Goa, the Indian state on the southwest coast. The Goan government has launched an electronic auction for the sale of four iron ore blocks in the state... 10.11.2022  11:14

• US to phase out a quarter of coal-fired power plants by 2029 The U.S. Energy Information Administration (EIA) has indicated that by the end of 2029, almost a quarter of U.S. coal-fired power generation capacity will be phased out as natural gas power generation and sustainable energy grow. Of the 200,568 megawatts (MW) of coal-fired power plants currently... 10.11.2022  11:13

• EU and Kazakhstan establish strategic partnership At the Global Conference on Climate Change (COP27) in Egypt, European Commission President Ursula von der Leyen and Kazakh Prime Minister Alikhan Smailov signed a Memorandum of Understanding (MoU) establishing a strategic partnership between the EU and Kazakhstan. The agreement is aimed at... 09.11.2022  11:48

• Vietnamese mills turn off blast furnaces to survive Two Vietnamese companies shut down their blast furnaces to minimize financial losses. Vietnam's Hoa Phat Group will shut down two blast furnaces at its Hoa Phat Dung Quat plant this month and plans to shut down a third blast furnace at the plant next month. Only one blast furnace will operate,... 09.11.2022  11:45

• Demand for steel pipes in Russia increased in 2022 Steel pipe consumption in Russia is forecast to increase by 10%-15% to 10.3-10.6 million tons by the end of this year due to rising demand from crude oil and natural gas. Russian factories produced about 9 million tons of steel pipes from January to September, up 15.2% year-over-year, as steel... 09.11.2022  11:43

• Blast furnace capacity utilization in China falls for third week The blast furnace (FF) utilization rate among 247 Chinese steel mills surveyed by Mysteel fell another 1.32 percentage points on the week for the third consecutive week to 86.31% compared to the period Oct. 28 to Nov. 3, indicating that some of the surveyed factories continued to operate.... 08.11.2022  10:06

• The Turkish division of the Russian MMK, suspended the operation of electric arc furnaces MMK Metalurji, the Turkish arm of Russia's MMK, has suspended its electric arc furnaces due to low demand and high electricity costs. The resumption of operation of MMK Metalurji furnaces will depend on orders in December. MMK Metalurji stopped its furnaces in early September and early October... 07.11.2022  11:16