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For the first time in over 50 years of cooperation, Primetals Technologies and Tata Steel Europe have commissioned a Level 2 system for a continuous caster completely online. In mid-July 2019, the newsystem from Primetals Technologies successfully replaced the existing automation on continuous casterCC21 of Tata Steel Europe in IJmuiden, the Netherlands. At the same…
DetailsIndian steel industry is facing some challenges amid the ongoing trade war between the US and China, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production. Pradhan was interacting with reporters on the sidelines of two-day International Galvanising Conference event here.…
DetailsCIS producers of steel billet have kept their offer prices stable despite mounting downward pressure from the poor international scrap trading environment and limited demand, market sources told Fastmarkets on Friday September 20. Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne on September 20, compared with $356 per tonne…
DetailsJSW Steel Ltd informed BSE that it has repaid debt of INR 1,148.59 crore to take a release of 5.07 crore of its pledged shares, representing about 2.09% of its share capital. The debt was repaid by three promoter entities that got their pledged shares released. These were, JSW Techno Projects Ltd. that repaid about…
DetailsVNA reported that escalating trade tensions and rising protectionism have caused a formidable pressure on Vietnamese steel sector. The Vietnam Steel Association has said local steel producers faced difficulties in the first months of 2019 when prices averaged just 650 USD per tonne, a fall of 12 percent compared to the same time last year,…
DetailsRestocking by downstream consumers in preparation for China’s National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20. All base metals inventories fell, barring zinc and nickel. Copper stocks tumbled by 7.1% or 10,809 tonnes to 141,379 tonnes…
DetailsChinese state owned Baowu Steel Group inked an agreement with Magang (Group) Holding Co Ltd to secure a 51% stake in the latter. Mr Chen Derong, chairman of Baowu said the partnership was a continuation of the long-term cooperative relationship between the two, as well as a major move in pushing for the supply-side reform…
DetailsIn January-August Ukraine increased pipe output by 0.6% YoY, to 738.5 thousand tons. In August 75.8 thousand tons of pipes were produced. Ukrtruboprom enterprises decreased output by 1.2%, to 539.2 thousand tons, with 53.7 thousand tons produced in August. Interpipe NTZ decreased pipe manufacture by 14%, to 170.6 thousand tons, and Trubostal – by 15%,…
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