ThyssenKrupp Steel (TKS) recently announced plans to cut up to 11,000 positions. In a blow to the struggling EU steel market, the German steelmaker stated it would also reduce rolled production by an average 23%. “This is the company’s response to the further consolidation of fundamental and structural changes in the European steel market and […]
Christopher Rivituso
British Steel’s £10M Rail Facility: British Steel’s Corrosion-Protected Rails
British Steel has opened a rail stocking facility at its main works in Scunthorpe, in Lincolnshire, where the company produces rails. The £10 million ($12.6 million) facility will be able to hold up 25,000 metric tons of finished rails in 108-metre lengths, the Jingye-owned company stated on November 20. “All rails stocked will have undergone […]
Trump’s Return: Will Tariffs and Green Tech Define the Future of HRC Prices?
Big changes seem to be coming for the steel industry in Europe and the U.S. The European Commission, the executive arm of the EU, recently put forth a masterplan for a new industrial strategy in the 27-member bloc. Mainly the work of former Italian Prime Minister Mario Draghi, who now serves as special adviser to […]
British Steel Secures Resources to Keep Scunthorpe Thriving Through 2025
Steel news outlets recently discovered that longs and semis producer British Steel recently acquired natural resources to sustain production at its Scunthorpe plant through 2025. “At the same time, we remain in active discussions with the government, working together to ensure British Steel continues to play a vital role in meeting the UK’s infrastructure needs,” the […]
EU Cracks Down on Anti-Dumping: Probe Into Imports from Asia and North Africa
The European Commission (EC) has begun to register hot rolled coil imports from several countries. The EU’s executive arm said the imports are the subject of an anti-dumping investigation for April 1, 2023, to March 31. The registrations concern imports of the flat rolled product from Egypt, Vietnam, Japan and India, the EU Official Journal […]
Tata Steel’s Massive EAF Deal with Tenova Signals End of Blast Furnace Era
Indian steel industry leader Tata Steel recently announced that it had signed a contract with an Italian company to install a new electric arc furnace at its Port Talbot facility in Wales. Tata stated in an October 18 announcement that Lombardy-headquartered Tenova is to supply one EAF with an annual capacity of 3 million metric […]
Europe’s Steel Price Surge: Will Buyers Bite?
Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 ($650) EXW per metric ton, reflecting an increase from deals that were as low as €520-530 […]
Jindal Group Secures European Foothold with Acquisition of Vítkovice Steel
India’s Jindal Group has acquired Czech flats producer Vítkovice Steel. The Ostrava-based company released the information to steel news outlets on October 7, stating that Jindal will acquire a 100% stake in the company from its current owners, subject to clearance from anti-monopoly authorities. “Vítkovice Steel has been cooperating with Jindal Group for more than […]
ArcelorMittal’s New Ladle Furnace Powers Up for a 10% Carbon Cut
Steel industry leader ArcelorMittal recently commissioned a new, two-stand ladle furnace at its Fos-sur-Mer site in southern France. The Luxembourg-headquartered group stated that the furnace will cut carbon emissions from the flats producer by up to 10%. In an October 3 announcement, ArcelorMittal stated that each of the two stands on the new equipment can […]
ThyssenKrupp Steel Warns of Cuts on Poor Steel Market
German steel industry leader ThyssenKrupp Steel (TKS) recently warned that workers at the Duisburg-headquartered company face deep cuts due to a declining European steel market. On September 28, German media quoted Dennis Grimm, executive board spokesperson for TKS, as saying, “The current market situation has deteriorated again in recent months, and unfortunately, there is no […]