Tag: Steel

British Steel to Modernize Scunthorpe Site with New Electric Arc Furnace

British Steel to Modernize Scunthorpe Site with New Electric Arc Furnace steel manufacturing in electric furnaces.

British Steel recently secured permission from the local authorities to build an electric arc furnace at its Scunthorpe site in Lincolnshire. In an April 30 announcement to steel news outlets, the London-headquartered company stated that the North Lincolnshire council approved its application to build a new EAF at Scunthorpe following a consultation. Officials at British […]

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 […]

ThyssenKrupp Responds to Market Turbulence with Bold Production Cuts

ThyssenKrupp Responds to Market Turbulence with Bold Production Cuts

Germany flats producer ThyssenKrupp Steel (TKS) recently announced plans to cut its production capacity by an average of 19.5%, citing current market conditions as the main reason. Indeed, the European steel industry continues to face a wide range of challenges, including economic challenges and surging energy costs. “The aim is to make ThyssenKrupp Steel fit […]

Tata Steel Workers to Strike Against Port Talbot Blast Furnace Closures

Tata Steel Workers to Strike Against Port Talbot Blast Furnace Closures

Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata […]

Raw Steels MMI: Steel Prices Flatten, Is an Uptrend Next?

Raw Steels MMI: Steel Prices Flatten, Is an Uptrend Next? HRC, steel prices, European steel

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the […]

Liberty Steel’s Ambitious Expansion Strategy Revealed: Hiking Capacity at Rotherham Plant

Liberty Steel’s Ambitious Expansion Strategy Revealed: Hiking Capacity at Rotherham Plant

Liberty Steel recently announced a restructuring plan for its operations in the United Kingdom after signing a new framework agreement with creditors. Among other things, the ambitious plan includes hiking crude steel manufacturing capacity at its Rotherham plant. The London-based company noted that the plan would see Liberty consolidate all its operations in the UK […]

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