IN RESPONSE TO SLUGGISH DEMAND, A LUXEMBOURG-BASED GLOBAL STEEL MANUFACTURING BUSINESS BEGINS TALKING ABOUT LAYOFFS AT SPANISH STEEL MILLS In response to falling demand and rising energy prices, ArcelorMittal has begun discussions with unions on a comprehensive furlough plan for the 8,300 employees at its Spanish mills, according to a co...
BANGLADESHI STEEL PRODUCER TO OPEN CHATTOGRAM HRC FACILITY In order to meet the gap in Bangladesh's demand for flat products, Bashundhara Multisteel Industries Limited, the steel division of Bashundhara Group, one of the country's largest business conglomerat...
U.S. STEEL INTENDS TO SHUT DOWN A NUMBER OF BLAST FURNACES IN US AND EU FACTORIES Earnings before interest, taxes, depreciation, and amortization, or EBITDA, for the third quarter are anticipated to total USD 825 million by U.S. Steel. Due to unfavorable market conditions, U.S. Ste...
HOA SEN GROUP HONOURED AS LARGE TAX PAYER The award ceremony, held on Thursday, is part of the Customs - Business Forum 2022, which is being held as part of the 77th anniversary of the founding of Viet Nam Customs. Hoa Sen is the only privat...
DUE TO WEAK DEMAND AND THE ENERGY CRISIS, EU STEEL COMPANY ANTICIPATES A DECREASE IN EU STEEL PRODUCTION IN Q4 After being forced to shut down portions of multiple factories due to low demand and high energy prices, ArcelorMittal SA stated that it anticipates a decline in its European steel output in the fourt...
AN INDIAN STEEL MANUFACTURER WILL SPEND $1.26 BILLION TO CUT CARBON EMISSIONS AT ITS FACILITIES. JSW Steel of India said that it will work with the SMS group of Germany and invest INR 100 billion (USD 1.26 billion) to reduce carbon emissions at its operations. According to a statement from JSW St...
PORT TALBOT WORKS' BAST FURNACE FURNACES WILL BE OVERHAULED BY A UK STEEL BUSINESS According to a press statement from Danieli Corus, Tata Steel has chosen Danieli Corus to handle repairs on hot-blast stoves at Port Talbot Works. The repairs of stoves #11 at blast furnace #4 (with a...
AT THE WARDHA STEEL COMPLEX, INDIA STEEL COMPANY COMMISSIONS A BLAST FURNACE. The blast furnace 2 at the Wardha Steel Complex, close to Nagpur, Maharashtra, has been successfully commissioned, according to a Nithia Capital announcement. The new blast furnace can produce 700,000...
THE WORLD'S LONG STEEL MARKET IS UNCERTAIN DUE TO RISING PRICES AND WEAK DEMAND We have now entered a rising-cost business cycle, which is making the situation in the worldwide market for long steel goods worse. According to the International Rebar Producers and Exporters Associa...
THE PRICES REMAIN CONSTANT FROM THE BIGGEST IRON ORE PRODUCER IN INDIA According to a filing by the firm, the price for a ton of lump ore will be INR 4,100 (US$51.5) and for a ton of fines, it would be INR 2,910 (US$36.5). Since August 11, when the mining giant raised th...
TO REDUCE DEPENDENCY ON IMPORTED NATURAL GAS, UK STEEL COMPANY MAKES INVESTMENTS IN NEW TECHNOLOGIES AT ITS PORT TALBOT FACILITY In an effort to decrease its reliance on imported natural gas, Tata Steel has spent GBP 400,000 (USD 463,596) in new technologies at its Port Talbot factory. The new machinery, according to the None [...
IN H1 2022 YOY, CRUDE STEEL PRODUCTION IN LATAM NATIONS DECREASES BY 2.3 PERCENT According to data from Alacero, the Latin American Steel Association, crude steel output in Latin America decreased by 2.3 percent in the first half of 2022 compared to the same period in 2021. Argent...
