NET PROFIT OF MEXICAN FIRM FALLS IN Q2 DUE TO RISING EXPENSES Due to rising sales costs and expenses, steel maker Ternium reported a 19% decline in net profit from the second quarter of the prior year. The business had a net profit of 936 million dollars. The co...
A POLISH BUSINESS WILL MODERNIZE THE EAF TRANSFORMER For its 48-t EAF in Stalowa Wola, Poland, Cognor has decided to replace the outdated transformer with Q-One technology, a Danieli Automation patent. Cognor, based in Poland, is an integrated manufact...
GERMAN STEELWORKS UPDATES CASTING TECHNOLOGY TO ENHANCE PRODUCT QUALITY At ArcelorMittal Bremen, the SST Casting AI software from Smart Steel Technologies has been successfully integrated. SST Casting AI and SST Surface AI are software programs designed to decrease surfac...
PRODUCTION AT A NEW HOT STRIP MILL IN KENTUCKY HAS BEGUN BY A US FIRM Nucor Steel Gallatin hired Danieli to modernize its hot strip factory in Ghent, Kentucky, in order to expand the selection of None [1] steel grades and boost strip production capacity. The first high...
BRAZILIAN MINER'S Q2 PROFIT DECLINES DUE TO DECLINING IRON ORE PRICES AND RISING EXPENSES Brazilian mining company Vale SA reported an 18.9 percent reduction in net income from the same period the previous year, mostly due to a significant drop in iron ore prices and rising expenses. One o...
INDONESIA PARTNERS WITH SOUTH KOREAN TO BUILD BLAST FURNACE AND COLD ROLLING MILL In order to jointly develop a blast furnace and cold rolling plant in Indonesia, state-run steelmaker Krakatau Steel and South Korean steel company Posco have signed a memorandum of agreement. Althoug...
INCHEON INTERNATIONAL AIRPORT PROJECT WILL USE STEEL FROM SOUTH KOREA'S LARGEST TRADING COMPANY According to the corporation, Posco International will provide 23,000 tons of steel for the development of Terminal 2 at Incheon International Airport. Posco intends to supply a steel wall and low-car...
US STEEL IMPORT GREW 14 PCT IN H1 2022 The American Iron and Steel Institute (AISI) announced that the U.S. imported a total of 2.8 million tons of steel in June 2022, including 2.2 million tons of None [1] completed stee l, based on prel...
EARNINGS OF AN AUSTRALIAN STEEL MANUFACTURER FELL BY 29% IN THE FIRST HALF OF 2022 Rio Tinto, a mining company, reported a 29 percent decline in first-half earnings due to lower iron ore prices brought on by a slowing in demand from main client China, greater expenses, and labor sho...
THE EARNINGS OF AN INDIAN STEEL COMPANY FELL BY 13 PERCENT FROM APRIL TO JUNE OF 2022 In the June quarter of the current fiscal year, Tata Steel recorded a consolidated profit after tax of INR 7,765 crore (USD 972.9 million), a decrease of 12.8 pct from the comparable quarter of the pr...
IRON ORE FUTURES RISE ON EXPECTATIONS OF A THIRD-QUARTER CHINESE ECONOMIC RECOVERY On Monday, iron ore futures surged, continuing a rise that had been sparked by expectations for a third-quarter economic recovery in China, the world's largest None [1] producer and user of steel , a...
DESPITE UNCLEAR PROSPECTS, A SWEDISH CORPORATION REPORTS RECORD PROFITS IN Q2 DUE TO INCREASING STEEL PRICES According to SSAB's news statement, operational earnings at the Swedish corporation surpassed SEK 10 billion for the first time in a single quarter. However, the business issued a warning that among g...
