Australia-based Blackstone Minerals says it has signed a memorandum of understanding with Vietnam’s Son La province to work cooperatively to develop the company’s Ta Khoa nickel-copper-cobalt-platinum project, Kallanish reports. The agreement covers the upstream Ta Khoa nickel project and the planned Ta Khoa refinery, both of which are planned to be developed in the…
Worldsteel has revised down its 2022 global steel demand growth forecast to 0.4% on-year, giving 1.84 billion tonnes. This follows 2.7% growth in 2021. The correction is due to the impact on trade of the Russian invasion of Ukraine, which has created devastating effects on Ukraine, consequences for Russia and a major impact on Europe.…
Sarralle and Elogen to develop hydrogen project for steelmaking Spanish engineering supplier Sarralle Group tells Kallanish it has signed an agreement with green hydrogen technology specialist Elogen to jointly develop H2 projects and build electrolysis plants for the steel industry. The collaboration includes the engineering, manufacturing, supply and commissioning of H2 equipment based on Elogen’s…
Indian billet export offers fall on lower counter-offer The recent drop in coking coal prices, coupled with Kenyan elections has softened sentiment for billet in African nations, owing to which buyers are seen reducing their bids for Indian billet. This week’s offers for induction-furnace (IF)-grade billet have been slashed by $20/tonne on-week, whereas bids have…
Vietnam’s Formosa Ha Tinh Steel announces higher HRC prices Vietnam’s Formosa Ha Tinh Steel (FHS) has announced a 2.2% increase in its June-shipment prices of hot rolled coil, Kallanish notes. The new prices may not be widely accepted by domestic buyers. FHS raised the price for new allocations of non-skin-passed SAE 1006 HRC by $20/tonne…
Indian mills lower HRC offers to seal deal Subdued European buying sentiment and lacklustre Indian domestic demand have made Indian mills drop hot rolled coil export offers this week. Lower quotes have nevertheless enabled Indian mills to close deals in regular market the Gulf Cooperation Council, sources inform Kallanish. Initial offers for bulk quantities to…
Lion Malaysia sells hot briquetted iron plant to Esteel Malaysia’s Lion Industries says it has received payment from Esteel Enterprise and sold its entire 100% equity interest in Antara Steel Mills Sdn Bhd to Esteel. The buyer fully paid the final adjusted consideration to the seller, in accordance with the agreed formula, of approximately $165.63…
Thai billet imports fall Thailand’s imports of billet fell sharply in the first two months of the year. The reduced import volume is linked to high import prices. Thailand imported 70,421 tonnes of billet during January-February, according to the Iron & Steel Institute of Thailand. This was a drop of 60.6% compared to 178,953t of…
Turkey’s largest integrated steelmaker Isdemir’s new blast furnace is nearing completion and will have the highest output (7,900 t/d) in the country, which will be Turkey’s largest blast furnace with a capacity of 2.8 million t/y. The furnace has a volume of 3,587 cubic meters and is expected to be blown in within this year.…
The National Company Law Tribunal (NCLT) Chandigarh Judge of India’s National Company Law Tribunal has called a meeting of shareholders and creditors of JSL and JSHL to approve the merger of the two companies. New Delhi: Hon’ble National Company Law Tribunal (NCLT), Chandigarh Bench has announced the detailed order to convene a meeting of…