More than 10,000 sanctions have been imposed against Russia, and it is already clear that steelmakers are losing sales markets, says the Russian Steel Association. “Applications from domestic consumers are also declining,” it noted after the Metallurgical Summit “Russian Steel: Growth Strategy” in Tula. “According to the speakers, under such conditions it is necessary to…
The Japan Bank for International Cooperation (JBIC) plans to strengthen cooperation with Colombia’s state oil company Ecopetrol to support development of green hydrogen, Kallanish reports. The parties signed an MOU on 8 June aimed at promoting Ecopetrol and Japanese companies’ collaborative projects in Colombia, such as the supply chain of hydrogen and ammonia. Other projects…
Iranian and Russian billet continue to weigh on the ASEAN import market, Kallanish notes. Certain traders are offering Iranian 150mm 5sp billet at $600-610/t cif Thailand. A Thai trader thinks that they are inviting bids and that these offers are not firm. “Traders are trying to match the price idea from buyers,” he says. Others…
The US Department of Energy is launching an $8 billion programme to develop clean hydrogen hubs across the United States, Kallanish reports. The money, to be provided over five years, is coming from the Bipartisan Infrastructure Law and will create a network of what the DOE is calling H2Hubs, the DOE says in releasing a…
Rio Tinto and Salzgitter Group will jointly study using the miner’s Canadian and Australian iron ore for Salzgitter’s SALCOS green steel smelting project in Germany. The two companies signed a Memorandum of Understanding (MOU) on exploring optimisation of iron ore pellets, lump and fines for use in hydrogen direct reduction steelmaking projects, Kallanish learns from…
Recently, the World Iron and Steel Association released “2020/2021 Production Ranking: Steel Production Companies of More than 3 Million Tons”, and 63 Chinese steel companies are on the list! Baowu’s 120 million tons came out on top! China Baowu topped the list with 120 million tons, ArcelorMittal ranked second with 79.26 million tons, and Ansteel…
A new steel mill project is being proposed in Vietnam, Kallanish understands. This will produce plate among other steel products. Vina Roma Quang Tri Steel Joint Stock Company has put forward a proposal to install a 4.5 million tonnes/year steel mill at Quang Tri, central Vietnam. The provincial government announced on 27 May that the…
Recently, the Ministry of Industry and Trade of Vietnam announced that the Ministry will continue to cooperate with relevant departments to implement an early warning system and related measures to prevent origin fraud. The purpose is to further strengthen the supervision and management of origin fraud, and severely crack down on origin fraud and illegal…
Danieli’s third long-rolling line for Hefa Steel is capable of rolling a 5.5mm wire rods at a steady speed of 105m/s, and the line has already produced 100,000 tonnes of wire rods. Mr. Phi Van Hiep, Manager of the Rolling Plant of Hefa Iron and Steel Company, expressed his gratitude. He described the whole process…
On June 1, 2022, according to the MEPS forecast, global crude stainless steel production will reach 58.6 million tons this year. This growth is likely to be driven by factories located in China, Indonesia, and India. Production activity in East Asia and the West is expected to remain range-bound. China’s stainless steel production rebounded strongly…