Category: Ferrous Metals

Liberty Steel’s $70 Million Hungarian EAF Project Raises Questions Amid Financial Strains

Liberty Steel’s $70 Million Hungarian EAF Project Raises Questions Amid Financial Strains

Steel manufacturing giant Liberty Steel recently signed a contract with Chinese engineering company CISDI, finalizing a feasibility study to build an electric arc furnace at the Dunaújváros plant in Hungary. Steel production estimates state that the facility would have an annual crude capacity of 1.5 million metric tonnes. According to a May 16 announcement by […]

India’s Steel Industry Under Stress: Chinese Imports Could Surge Amid U.S. Tariffs

India’s Steel Industry Under Stress: Chinese Imports Could Surge Amid U.S. Tariffs

India’s steel industry currently finds itself in a stressful predicament. Already reeling from cheap steel imports, the country is now even more worried about a surge of Chinese imports following the imposition of fresh tariffs on Chinese steel by U.S. President Joe Biden. Alongside the U.S., India and many other countries around the world have […]

GFG Alliance Explores Co-Investment and Divestment Options for Liberty’s Belgian, Luxembourg, and Italian Plants

GFG Alliance Explores Co-Investment and Divestment Options for Liberty’s Belgian, Luxembourg, and Italian Plants steel industry

Liberty Steel recently triggered a review of its downstream flat rolling assets in Western Europe. The firm’s parent company, GFG Alliance, said the potential steel industry shakeup stems from an expression of interest from several interested parties. “The review will evaluate Liberty’s assets in Liège (Belgium), Dudelange (Luxembourg), and Piombino (Italy) and will be facilitated […]

Liberty Steel Reviews Future of Scunthorpe Merchant Bar Plant

Liberty Steel Reviews Future of Scunthorpe Merchant Bar Plant liberty steel

Steel manufacturing giant Liberty Steel recently began consultations with unions on mothballing its merchant bar producer, Liberty Merchant Bar (LMB), in Scunthorpe. “This decision comes after a thorough review of strategic options and the challenging external conditions, especially the lack of local feedstock supply that has affected the plant’s viability,” Liberty’s parent company, GFG Alliance, […]

Automotive MMI: Will Potential Copper Shortages Impact the Automotive Market?

Automotive MMI: Will Potential Copper Shortages Impact the Automotive Market? car copper

The Automotive MMI (Monthly Metals Index) broke out of its nearly 6-month-long sideways trend amid several changes in metals prices. Month-over-month, the index rose 5.24%. Except for shredded scrap steel and palladium, most components of the index either moved up or sideways with slight upward movement. With the recent LME and CME ban on Russian […]

ThyssenKrupp and EP Corporate Group to Form Joint Steel Venture

ThyssenKrupp and EP Corporate Group to Form Joint Steel Venture Thyssenkrupp Steel Manufacturing.

ThyssenKrupp recently announced plans to create a 50/50 joint steel manufacturing venture with the Czech Republic’s EP Corporate Group and ThyssenKrupp Steel (TKS). According to the German group, talks are now ongoing between the two parties for the sale of an additional 30% stake in the steelmaker, following an April 26 announcement that EP would initially […]

Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting

Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting steel rolls, steel prices

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.86% decline from April to May. U.S. flat rolled steel prices found a bottom at the close of March and proceeded to move sideways. HRC prices saw a modest increase, but ultimately closed the month at $838 per short ton. Meanwhile, HRC Midwest […]

India’s Battle for Steel Self-Reliance Intensifies Amid Import Surge

India’s Battle for Steel Self-Reliance Intensifies Amid Import Surge India Imports

India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect steel costs and India’s push for self reliance. According to news agency Reuters, as per initial government […]

British Steel’s Ambitious Decarbonization Plan Gets the Green Light

British Steel’s Ambitious Decarbonization Plan Gets the Green Light steel industry, steel production and the steel market

In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]

A Blow to China’s Steel Dumping Tactics: Triple Tariffs

A Blow to China’s Steel Dumping Tactics: Triple Tariffs China Tariffs

New China tariffs may soon change the country’s steel market tactics. China continues to sit on a stockpile of steel, and it has no idea what to do with most of it. The exception, however, seems to be dumping it into foreign markets for cheap under the guise of “exportation.” China remains unable to use […]

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