IN 2023, CHINA'S DOMESTIC IRON ORE PRODUCTION WILL INCREASE BY 8 YEARS Analysts predicted that China's annual iron ore production would reach 290 million tons, an eight-year high, as new capacity came online and the nation's tough COVID restrictions on mining were lifted...
PIPES FROM CORINTH WILL BE USED IN AN UNDERSEA GAS OPERATION IN THE NORTH SEA ONE-Dyas B.V. has given Corinth Pipeworks a contract to supply High Frequency Welded (HFW) steel pipes for the North Sea-based N05-A platform. The biggest privately held exploration and production ope...
AM/NS INDIA RECEIVES FUNDING FOR AN EXPANSION INITIATIVE FROM JAPANESE INSTITUTIONS MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank, Ltd., and Mizuho Bank Europe N.V. have all entered into a USD 5 billion loan agreement (JBIC co-...
NIPPON STEEL WILL CUT ITS USIMINAS SHARE Nippon Steel of Japan announced that it would reduce its ownership of Brazilian steelmaker Usinas Siderurgicas de Minas Gerais (Usiminas) in order to grant Ternium a larger interest in the company. Ac...
NEW ELECTRONIC STEEL PRODUCT WILL BE RELEASED BY U.S. STEEL InduX, a new electrical steel product from United States Steel Corporation (U.S. Steel), will start production at the company's Big River Steel facility in the summer of 2023 following the commissioni...
CANADIAN AUTHORITIES FORBID SHIPMENTS OF RUSSIAN STEEL AND ALUMINUM In an effort to prevent Moscow from being able to finance its conflict with Ukraine, Ottawa claimed that Canada had prohibited the import of all Russian steel and metal goods. The declaration claims t...
COMPLETE PURCHASE OF CSP BY ARCELORMITTAL Following the usual governmental clearances, ArcelorMittal declared that it had successfully acquired Companhia Siderurgica do Peccm (CSP) in Brazil for an estimated USD 2.2 billion in enterprise valu...
INDIAN RAILWAYS GRANTED A DEAL TO TATA STEEL TO PRODUCE NEW TRAINS The quickest and most feature-rich train in the nation, the Vande Bharat Express, will be built in 22 trains by Tata Steel for the Indian Railways over the course of the following year. According to t...
STEEL FACTORIES INCREASE THE COST OF HR AND CR FOR MARCH SUPPLIES The standard hot rolled coils are seeing a sequential 2–5 percent price increase from Indian steel factories, with the average price for March deliveries being around INR 61,000 (USD 745) per ton. Aft...
AFTER BUYING MITTAL CORP., SHYAM METALICS PLANS TO GENERATE USD 1 BILLION IN INCOME FROM THE STAINLESS STEEL INDUSTRY After acquiring Mittal Corp through the corporate insolvency settlement procedure, Shyam Metalics and Energy expects the stainless steel company to generate revenues of USD 1 billion (CIRP). Mittal Co...
TURKEY AND THE UAE SIGN A TRADE AGREEMENT AS RELATIONS IMPROVE A deal between the UAE and Turkey was struck in Abu Dhabi with the aim of increasing bilateral commerce to $40 billion by 2028. The economic and trade cooperation between the two nations has advanced...
WELSPUN SECURES A DEAL TO SELL LSAW PIPES TO THE MIDDLE EAST Welspun Corp Ltd (WCL), an Indian pipe manufacturer, announced that it has received a contract for the sale of LSAW pipes and curves to the Middle East. "WCL is delighted to tell you that it has been ...
