The handover of India’s state-run steel mill NINL to Tata Steel will be completed by mid-July. NINL operates a 1.1-million-tonne-per-year steel mill in Kalinganagar, Odisha, which closed in March 2020 due to financial problems. Tata Steel Long Products (TSLP) had earlier submitted its winning bid to acquire NINL through the government’s privatisation process. After winning…
India’s National Mineral Development Corporation (NMDC) will start operating its new steel mill in Nagarnar, Chhattisgarh, in September after a delay of almost seven years. It is reported that the construction cost of the plant is 70 billion rupees ($890 million), and its annual output is expected to reach 3 million tons. The average annual…
Chinese investor Shenzhou Mining and local Philippine company Mount Zynai 0304 Mining Corp.(MZMC) are jointly developing an iron ore and steel mill project at Mount Zynai Industrial Park (MZIP) in Davao City, Zamboanga Sibugay Province. The project, which is said to cost $1 billion and includes an ore smelter and a steel mill, broke ground…
After a boost to the bearish market sentiment that has been fermenting for a week, Chinese rebar and hot rolled coil futures finally achieved a second straight day of increases on Tuesday. But the rise is still small, with limited fundamental support, Kallanish notes. On the Shanghai Futures Exchange, the most-traded October 2022 rebar contract…
On June 22, the World Steel Association (WSA) released global crude steel production data for May 2022. In May 2022, the crude steel output of the 64 countries and regions included in the statistics of the World Steel Association was 169.5 million tons, a year-on-year decrease of 3.5%. In May, the crude steel output in…
JFE Steel announced that it is actively advancing two green and low carbon steelmaking projects and looks forward to helping the company achieve carbon neutrality in its operations. It is reported that these two projects are the optimized use of carbon dioxide to synthesize methanol system researched by the company in cooperation with Japan Earth…
Vietnamese steel giant Hoa Fat has announced its latest offers for hot rolled coils for shipment from August to early September, at $695/t for SS400 and $705/t for SAE1006. More information friendship Link： LMM Totai Refractory, LMM Mill ROLLS, LMM CCM, LMM Mechanical Equipment, Intelligent industry, STEEL Metallurgy Industry
Pakistan is proposing a 10% super tax on key industries including automobiles, cigarettes, cement, steel, sugar, LNG terminals, textiles, fertilizers, banking, chemicals and beverages to boost fiscal revenue. More information friendship Link： LMM Totai Refractory, LMM Mill ROLLS, LMM CCM, LMM Mechanical Equipment, Intelligent industry, STEEL Metallurgy Industry
On June 20, JFE Steel announced that it is actively promoting two green and low-carbon steelmaking projects, and looks forward to helping the company achieve carbon neutrality in its corporate operations. It is reported that these two projects are the optimized use of carbon dioxide to synthesize methanol system researched by the company in cooperation…
Traders are taking a leading role in the falling ASEAN wire rod import market, Kallanish notes. They are driving the market lower by shorting. Mills are less active in giving offers because current prices are deemed too low. Offer prices for wire rod into the Philippines are tumbling down quickly. Certain traders are giving offers…