Market sources report that hot rolled coil steel prices in northern and southern Europe continued to decline in recent weeks due to slowing economies in Europe as well as overcapacity. “I’m a little scared about Germany,” one trader told MetalMiner, referring to that country’s current economic situation. Germany’s economy is the largest in the European […]
Christopher Rivituso
Guinea Approves Simandou Iron Ore Mining Project, Cementing Future Growth
The West African state of Guinea recently approved a joint development deal between the government, Rio Tinto/Simfer, and the Winning Consortium Simandou (WCS) consortia to develop the Simandou iron ore mining project. The National Transition Council (NTC), Guinea’s legislative body under the interim regime, announced the deal’s approval on February 3. “In short, this agreement […]
EU Commission Reviews Request for 25% Extension of Steel Safeguard
The European Commission, the executive body of the European Union, is due to examine a request to extend a 25% safeguard on a range of steel imports. Steel news reports that the EC received a request from 14 member states of the 27-member bloc on January 12. This request aimed to establish if an extension of […]
Metinvest Reports Drop in Steel Production Amidst Russian Invasion
Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. The company halted steel manufacturing activities at its assets in Mariupol, Avdiivka, and Zaporizhzhia two years ago. This includes the Azovstal, Ilyich Steel, Avdiivka Coke, and Zaporizhzhia […]
UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans
The United Kingdom’s Trade Remedies Authority (TRA) recently initiated a suspension review on safeguard measures against hot rolled flat and coil steels. Steel news sources report that the move also came alongside a tariff quota review. TRA reported on February 9 that both Tata Steel UK (TSUK) and steel trader Kromat Trading filed applications for […]
Steel Production Declines in December 2023: Factors Impacting the Global Steel Market
Data from the World Steel Association (Worldsteel) released on January 25 indicates that global crude steel production remained largely unchanged year on year. Indeed, steel market analysis says poured liquid steel totaled 1.88 billion metric tons last year, which is similar to the volume poured in 2022. The association also stated that crude steel production […]
Tata Steel Replacing Port Talbot Blast Furnaces with Electric Arc Furnaces
Tata Steel formally announced its plans to permanently blow down the two blast furnaces at its Port Talbot works. Tata’s plan is to replace them with an electric arc furnace. Steel manufacturing analysts say the move will cut the facility’s listed crude capacity 40%. The plant will blow down one blast furnace by mid-2024 and […]
Steel Manufacturing: Uncertainty Looms as Liberty Steel Ostrava Workers Delay Return
Workers at flats producer Liberty Steel Ostrava in the Czech Republic did not return to work on January 16, despite local media reports stating that workers agreed to resume working on this date. The Daily Denik noted that there were a couple of other “return dates” set for the steel manufacturing plant, including January 3 […]
Salzgitter’s Relined Blast Furnace Ready to Produce 2 Million Metric Tons of Pig Iron
German steelmaking group Salzgitter recently blew in Blast Furnace A at its Flachstahl works in Lower Saxony, allowing it to produce up to 2 million MT of pig iron. This came after the company completed a relining that lasted 100 days. On January 3, Saltzgitter noted that the reline included 3,000 metric tons of bricks […]
UK to Impose Carbon Tax for Steel and Aluminum Production
HM Treasury recently announced that the UK plans to enact a carbon tax on certain metals and natural resource imports into the country by 2027. The December 19 announcement said that steel, aluminum, and iron ore will be subject to the tax. This tax is currently known as the Carbon Border Adjustment Mechanism (CBAM). “Goods […]