Market downturn, Turkish billet prices fall

Market downturn, Turkish billet prices fall

LMM Global Steel Information Quick View (2021.11.29) According to understanding, Turkish billet prices continued to decline gradually on November 24, and Kardemir, a major integrated long product producer in Turkey, carried out a new round of price cuts. Yesterday, with the sharp depreciation of the Turkish currency, the overall market sentiment was still mostly negative.…

Decarbonization should be done immediately to avoid stranding of assets and employment

Decarbonization should be done immediately to avoid stranding of assets and employment It is of “paramountimportance” the steel industry invests now in low-carbon steelmakingtechnologies that are compatible with climate neutrality, to avoid exposingassets and jobs to high risks in the 2030s and beyond. So says German think tankAgora Energiewende. Around 71% of the world’s coal-basedsteel…

Vale and Posco will study emission reduction technologies

Vale and Posco will study emission reduction technologies Vale has signed a memorandum ofunderstanding (MoU) with South Korean steelmaker Posco to jointly explore anddevelop CO2 emissions reduction technologies in steelmaking. Potential solutions for reducingfossil fuel consumption include Vale’s high-grade iron ore products such aspellet, fines and briquettes. “The steel and mining industry arealready under transformation…

India's severe power shortage crisis, the northern states have power outages for 14 hours a day, and the recovery of the manufacturing industry is hindered!

India’s severe power shortage crisis, the northern states have power outages for 14 hours a day, and the recovery of the manufacturing industry is hindered!

India’s severe power shortage crisis, the northern states have power outages for 14 hours a day, and the recovery of the manufacturing industry is hindered! After India experienced the second wave of the new crown epidemic, the economy gradually recovered, and the demand for electricity has also increased substantially. The wind of the energy crisis…

Soaring energy prices have caused some European steel companies to implement peak shifts and stop production

Soaring energy prices have caused some European steel companies to implement peak shifts and stop production

Soaring energy prices have caused some European steel companies to implement peak shifts and stop production Recently, ArcelorMittal (hereinafter referred to as ArcelorMittal)’s steel branch in Europe is under pressure on energy costs. According to foreign media reports, when the electricity price reaches its peak in the day, Anmi’s electric arc furnace plant producing long…

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Myanmar will restart Pinpet factory in fiscal year 2023-2024

LMM Global Steel Information Quick View (2021.10.12) Myanmar will restart Pinpet factory in fiscal year 2023-2024 Myanmar plans to restart the Russian-backed Pinpet plantin Shan State in the financial year 2023-2024, according to the chairman of theState Administration Council (SAC) Senior General Min Aung Hlaing. The SAC chairman went to No.2 SteelMill Project (Pinpet) operated…