HIGHEST LEVEL OF ORDERS RECEIVED IN A DECADE BY GERMANY'S STEEL GROUP The equipment manufacturing company SMS group, with its headquarters in Germany, nearly doubled its order intake to reach EUR 3.507 billion (USD 3.66 billion) in the 2021 fiscal year, marking the high...
SOUTH AFRICA'S IMPORTS OF STEEL IN 2021 HIT HISTORIC LEVELS According to a recent Steel Report released by the South African Iron and Steel Institute (SAISI), South Africa imported record amounts of primary steel in 2021, amounting to close to 1.7 million tons...
AS WORRIES OF A SEVERE GLOBAL ECONOMIC SLOWDOWN SPARK SELLOFF, IRON ORE AND STEEL FUTURES DECLINE IN CHINA Despite evidence of a recovery in industrial activity in China, the world's largest consumer of metals, iron-ore and steel prices fell on Friday as worries of a decline in demand for commodities were ...
AS DEMAND INCREASES, INDIA;S REBAR PRICES INCREASED BY USD 25 PER TON The price of India domestic rebar has increased by INR 2,000 (USD 25) per ton as a result of aggressive buying and higher spot demand. However, if trade sources are to be believed, prices have remaine...
BY 2025, A SOUTH KOREAN STEEL COMPANY PLANS TO USE AI IN ITS FACTORIES According to authorities, Hyundai Steel has created a "Smart Enterprise system," a sophisticated management software that uses AI technology to control everything from manufacturing to sales and infra...
GLOBAL PRODUCTION OF STAINLESS STEEL DECREASED BY 3.8% YEAR OVER YEAR IN THE FIRST QUARTER OF 2022 The first quarter of 2022 saw a 3.8 percent YoY reduction in stainless steel melt shop output, according to the most recent numbers provided by the International Stainless Steel Forum (ISSF). However,...
STEEL PRICES ARE HIGHER, WHILE IRON ORE FUTURES ARE UP ON EXPECTATIONS FOR DEMAND Iron ore prices in Dalian and Singapore reached one-week highs on Monday, helped by expectations that Chinese steelmakers will reopen dozens of blast furnaces that had been idled because of declining ...
DESPITE A POTENTIAL INCREASE IN ELECTRICITY PRICES, MALAYSIAN STEEL COMPANIES WILL CONTINUE TO BE COMPETITIVE According to Datuk Lim Hong Thye, head of the Malaysian Iron & Steel Industry Federation, Malaysian steel mills would likely continue to be more competitive than their regional counterparts even after...
THYSSENKRUPP-TATA STEEL JV'S EU VETO IS SUPPORTED BY THE COURT After having its arguments dismissed by Europe's second-highest court, Thyssenkrupp has lost its battle against the European Union's antitrust veto of its proposed historic joint venture with Tata Ste...
CHINA'S MARKET FOR IRON ORE IS STILL FACING UNCERTAINTIES ABOUT DEMAND, DESPITE THE RECOVERY As Chinese markets were boosted by President Xi Jinping's promise to take more effective steps to accomplish the nation's economic and social development goals, Dalian iron ore recovered in afternoon ...
USA'S STEEL PRODUCER MODERNIZES LADLE FURNACE AT ARIZONA PLANT The new ladle furnace at Arizona MIDA minimill #1 has begun operating, according to CMC Steel, a manufacturer of steel in the United States. The old ladle-furnace transformer has just been replaced wi...
A JAPANESE STEEL FIRM MAINTAINED THE SAME PRICES IN JULY To guarantee that price increases introduced earlier this year would be absorbed by the market, Tokyo Steel Manufacturing Co Ltd, Japan's largest electric-arc furnace steelmaker, said it will maintain...
