Johannesburg-listed metals and mining multinational Sibanye-Stillwater recently launched a bid to acquire all shares in Australian zinc miner New Century Resources. Sibanye-Stillwater currently holds a 19.9% stake in NCR. Meanwhile, zinc price movements continue to ebb and flow between the A$4400 ($3,000) and A$5200 ($3,500) range per ton. “The proposed takeover is in line with […]
Category: Manufacturing
Turkey’s MMK Metalurji Resumes Steel Production After Earthquake
Turkey’s MMK Metalurji is resuming steel production following several major earthquakes that rocked the country’s southern and central regions. The first two earthquakes occurred on February 6th, while another smaller quake occurred on February 20th. That same day, Russian parent company Magnitogorsk Iron & Steel (MMK) declared that specialists inspected the production site and units […]
Capitiano Tailored Automation and Pomini Upgrade Ovako’s Steel Bar Mill
Steel news sources report that Italy’s Capitiano Tailored Automation (AIC) has partnered with Pomini Long Rolling Mills. Together, the companies signed an agreement with Swedish specialty steels group Ovako to modernize the company’s Hällefors bar mill. In a February 9 statement, AIC explained the details of the contract. First and foremost, it stipulates that AIC […]
Several Turkish Steel Mills Suspending Operations After Earthquake
Several steel mills in central and southern Turkey have suspended operations, declaring force majeure. The decision comes after two earthquakes struck those areas and Syria on February 6. Flats and longs producer Isdemir, in Iskenderun, Hatay Province, said in a February 13 announcement that it is currently performing assessments. “Production has been suspended until the […]
Steel Producers Avoid a Crisis During Turkish/Syrian Earthquake.
According to MetalMiner sources, the earthquakes that struck Turkey and Syria on February 6 have not damaged the area’s steel manufacturing plants. The first jolt struck at 4:17 AM local time, just west of Gaziantep. The 7.8 magnitude quake caused widespread damage and destruction across both Turkey and Syria. To make matters worse, a second […]
Is the Face of the Steel Industry Changing?
After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just […]
NLMK La Louvière Mill to Stay Shuttered Until Summer
In steel news, Belgium’s NLMK La Louvière is unlikely to resume operations at one of its two hot rolling mills before summer in Belgium. NLMK shuttered the mill after a series of fires in late 2022 knocked it out. “One of the two lines does not work at all,” a source close to the plant […]
India Aims to Increase Domestic Coking Coal Production Twofold by 2030
For now, trade relations between Australia and China are sketchy at best. Therefore, Australia has started looking for other markets to ship commodities like ore and coking coke, one such market being India. However, over the past few months, the world has learned that many Indian steel mills have replaced “costlier” Australian coking coal with […]
Liberty Steel UK Cuts its Steel Production
Liberty Steel UK (LSUK) plans to reduce steelmaking and mothball some of its UK assets as part of restructuring plans. The group instead wants to focus on high-value, alloy-steel production in order to remain competitive. “Despite the injection of £200 million ($244 million) of shareholder capital over the last two years, the production of some […]
China’s Reform Commission Threatens Crackdown on Iron Ore Hoarders
The global iron ore price may be in for a bit of a ride. Sector analysts foresee high price volatility in the first months of 2023, mainly due to the increasing number of coronavirus cases in China. Adding fuel to the fire is the fact that the government there has warned it will be “paying […]
