RISING VIRUS CASES FUEL CONCERNS ABOUT DEMAND, SENDING IRON ORE FUTURES LOWER Tuesday saw a decline in iron ore prices as growing COVID cases in China, the world's largest steel producer, stoked demand worries. However, the nation's initiatives to boost the struggling real esta...
PRICES OF EUROPEAN HRC ARE UNDER PRESSURE DUE TO UNFAVORABLE SENTIMENT Participants in the European HRC market are warning against additional price decreases in light of developments in the import market. Although some saw the potential to close transactions for as littl...
NEW SPOOLED BARS LINE WILL BE INSTALLED BY PITTINI GROUP AT THE POTENZA FACTORY Pittini Group, an Italian steel manufacturer, looked to Danieli for a new line to be erected in Potenza, Italy, downstream from the current bar mill, for the production of high-quality spooled bars in...
NMDC LOWERS THE COST OF IRON ORE India's largest iron ore producer NMDC has slashed the price of lump ore and fines by INR 300 (USD 3.67) each per ton. Effective November 17, the price has been fixed at INR 3,800 (USD 46.5) per ton o...
PLANT IN STALOWA WOLA TO GET AN INSPECTION LINE FROM COGNOR For its facility in Stalowa Wola, Poland, the Polish steel manufacturer Cognor bought a Danieli Centro Maskin inspection line. A fully automated, highly productive straightening line, a deburring unit...
THE ROLLING MILL WILL BE UPDATED BY HAN TAI & IRON WORKS Han Tai & Iron Works Co., Ltd. of Taiwan has hired Pomini Long Rolling Mills to upgrade its rolling mill. The current rolling mill has sixteen RedRing stands without housing that were provided by Pomi...
OFFSHORE WIND BUSINESS WILL BE SOLD BY VALMONT INDUSTRIES TO A DANISH STEEL COMPANY A definite agreement has been reached, according to a press release from Valmont Industries, Inc., to sell its offshore wind business to Euro Steel, a provider of steel goods to the European wind indu...
DEDUSTING SYSTEM INSTALLED BY NLMK AT LIPETSK PLANT With the redesign of its Blast Furnace No. 3 dedusting system, NLMK Lipetsk now achieves a 99.9% dust collection rate. All of NLMK's blast furnaces are now outfitted with cutting-edge dedusting system...
THE OVAKO HYDROGEN PROJECT RECEIVES AN ENVIRONMENTAL PERMIT The biggest electrolyzer in Sweden will be built by Ovako near Hofors with permission from the Land and Environmental Court of Sweden in Ostersund. It will be used to produce hydrogen without the use ...
STEEL LTD. OF INDIA ANTICIPATES A GREATER THAN 5-YEAR DROP IN SHIPMENTS FOR FY23 Due to a downturn in global demand and an export tax, India's JSW Steel Ltd anticipates its exports to reach a more than five-year low at 10% of total sales in the fiscal year ending in March 2023. Se...
IN Q3 2022 YOY, GERDAU'S NET PROFIT DECLINES BY ABOUT 34% Lower global steel prices and rising input costs are having a negative impact on the sector, according to Brazilian steelmaker Gerdau SA, which stated that its Q3 adjusted net profit decreased by appr...
NEW WALKING BEAM FURNACE INSTALLED BY THYSSENKRUPP AT THE DUISBURG SITE A brand-new, cutting-edge walking beam furnace has been finished by Thyssenkrupp Steel at its Duisburg location. The new unit's most significant benefit is a further increase in the surface quality of...
