Thyssenkrupp is reassessing its ambitious plan to produce green steel at its Duisburg facility amid rising costs. The German government has invested billions of euros in subsidizing the project. The production of “green steel” by adapting a climate-neutral production method is being reviewed as per the internal reports. According to the reports, the company’s senior […]
Ukraine’s steel industry has witnessed a sizeable increase [1] in domestic consumption during the first two months of 2025. According to recent data, the consumption of steel products, including rolled and semi-finished goods, reached an impressive 557,000 tons in January and February combined. This marks a significant recovery for the sector, which has faced challenges […]
South Africa (SA) had secured more than $4bn (R73bn) in funding from both bilateral and multilateral sources for the reduction of carbon emissions. With this financial backing, the country now faces a responsibility to implement actionable plans that align with global climate goals. Last year, South Africa’s steel production saw traditional coal-fired blast furnaces contribute […]
The Australian Government has decided to invest $750 million in advancing new technologies in the metals manufacturing sector to maintain their position in the global competition. The funding is considered a part of the larger picture behind the $1.7 billion future made in Australia Innovation Fund, introduced in the 2024/2025 Budget, according to the government. […]
EU has announced their temporary anti-dumping duties ranging between 6.9% and 33% on hot rolled steel coil (HRC) imports from Japan, Vietnam, and Egypt, until a final decision is made by October. Previous reports also show that the imports of aluminium road wheels from Morocco were found to be unfairly subsidised, including those via China’s Belt […]
Vale and Green Energy Park (GEP) are working together on a project which has been selected by the European Commission and the 27 Member States as one of the flagship projects of the European Union’s Global Gateway Program in the Climate and Energy category. According to reports, the project is focused on enabling the construction […]
China, the world’s largest steel producer, reported a 1.5% year-on-year decline in crude steel production for the first two months of 2025. According to the National Bureau of Statistics, the country produced 166.3 million metric tons of crude steel during January and February, reflecting a slight decrease compared to the same period last year. Despite […]
In 2024, the European Union’s (EU) steel trade showcased significant growth [1] in value despite a decrease in physical quantities. Steel exports reached €32.3 billion, marking a 9.9% increase compared to €29.4 billion in 2019. On the other hand, steel imports surged by 19.7%, totaling €39.5 billion. However, the weight of exported and imported steel […]
Glencore Plc is intensifying its cost-cutting efforts at its Canadian copper and zinc plants, building on job cuts made last year as part of a broader restructuring of its global smelting operations due to a decline in processing margins. The company’s copper plants in Quebec, along with several recycling sites in the US, will be […]
The Moroccan Ministry of Industry and Trade has initiated an anti-dumping investigation into steel wire imports from Egypt and the United Arab Emirates (UAE). The Investigation, which has commenced, follows claims from Moroccan companies that suggest these steel wire imports are being sold at unfairly low prices, causing significant harm to the local steel industry. […]
Canada has initiated a formal complaint [1] with the World Trade Organization (WTO) in response to the United States’ imposition of tariffs on Canadian steel imports. The U.S. recently increased tariffs on steel to 25%, ending exemptions and duty-free quotas that were previously in place for Canadian steel products. This decision has heightened trade tensions […]
U.S. stocks rose on Wednesday, supported by inflation data that was cooler than anticipated, which helped halt a steep selloff. However, the ongoing escalation of President Donald Trump’s disruptive, multi-front tariff war limited the gains. The S&P 500 and Nasdaq both ended the day higher, with the latter receiving a strong lift from tech and […]
SMS group has completed the automation system upgrade for the hot strip no.1 at PT Krakatau Steel (Persero), Tbk. PT Krakatau Steel (PTKS) has reached a significant milestone with the successful production of its first sellable coil at its facility in Cilegon. This achievement marks PTKS’s return to the Indonesian market as a producer of […]
Boston Metal has specialised in steel decarbonization technology and has successfully launched its multi-inert anode Molten Oxide Electrolysis (MOE) industrial cell, designed for green steel production, marking a key milestone in de-risking Boston Metal’s MOE platform technology. It confirms the effectiveness of the inert anode, a critical component of MOE that enables the scalable production […]
As President Donald Trump’s latest tariffs on steel and aluminum imports came into force Wednesday, the European Union has responded [1] with officially implemented $28 billion retaliatory tariffs against the United States. This marks a significant escalation in the ongoing trade dispute with President Donald Trump’s administration. The countermeasures that came into force today are […]
Elcogen has officially announced the launch of the Horizon Europe SYRIUS project following a successful kick-off meeting hosted by project partner Acciai Speciali Terni Spa in February 2025. The SYRIUS project aims to transform the steel industry by enabling hydrogen production and circular energy use within steelmaking processes. Funded by a €10 million grant and […]
U.S. President Donald Trump has decided to abandon his proposal to double tariffs [1] on Canadian steel and aluminum imports. The initial plan, which would have raised tariffs from 25% to 50%, was announced as a response to Ontario’s decision to impose a 25% surcharge on electricity exports to the United States. The move had […]
Japanese suitors are encountering increased challenges in U.S. mergers and acquisitions, as American targets are now more likely to demand substantial termination fees to safeguard against deals collapsing due to regulatory or political hurdles. This shift follows Nippon Steel’s stalled $14.9 billion bid for U.S. Steel, which has highlighted the growing risks tied to U.S. […]
SteelAsia Manufacturing Corp., the leading steel manufacturer in the Philippines, has commissioned its inaugural solar rooftop photovoltaic (PV) system in partnership with TotalEnergies ENEOS at its Meycauayan steel plant in Bulacan. The 1.9 megawatt-peak (MWp) solar power system is seen as a significant step in the company’s ongoing efforts to decarbonize its steel production operations. […]
President Donald Trump has reignited trade tensions by imposing sweeping tariffs on key trading partners, including Canada, Mexico, and China. Beginning his second term with a bold move, Trump reinstated a 25% tariff on steel imports, escalating the situation into a full-blown trade war with immediate retaliatory measures announced by affected nations. Effective from March […]
India’s steel trade experienced a significant downturn [1] in February 2025, with imports plunging by 40% year-on-year to 0.6 million tons. This sharp decline has been attributed to concerns over potential safeguard duties, dampening traders’ buying sentiment. The Directorate General of Trade Remedies (DGTR) is currently investigating allegations of steel dumping, and the possibility of […]
Danieli signs a Memorandum of understanding defined to explore integration of Newcleo LFR technology with Green Steel technology and plants. The collaboration is set to explore the integration of newcleo’s Lead-cooled Fast Reactors (LFR) with Danieli’s steelmaking technology intended to combine the production of green steel with nuclear energy production. The companies will focus on […]
SSAB’s HYBRIT® technology, developed in partnership with the mining expert LKAB and Vattenfall, is known for its green hydrogen and fossil-free electricity in place of coking coal to produce steel, eliminating the carbon emissions. SSAB has signed an agreement with global construction equipment maker Putzmeister to provide future fossil-free steel for products like concrete pump […]
SSAB’s official statement said that they are establishing new blast furnaces in Oxelösund, Sweden, with an electric arc furnace and associated raw material handling. The aim is for the new production system to be up and running toward the end of 2026. The Oxelösund mill is said to be the first in the green transition […]
Workers suspended at Liberty Steel in 2024 will be returning to work by next week, according to Independent Steel Workers Union leader Penny Wight. Liberty Steel furloughed more than 500 employees from its Peoria-area steel mill and wire mill in December, citing economic challenges in the steel market. The company stated that the furloughs were necessary. […]
Nomura Research has highlighted the potential benefits of imposing safeguard duties [1] on Indian steel imports. According to the brokerage, such measures could significantly boost domestic steel prices and improve the margins of steel manufacturers. The domestic steel industry has been advocating for a 25% duty on imports to protect against the influx of cheap […]
ArcelorMittal Nippon Steel (AM/NS), a Luxembourg-based multinational steel manufacturing company, has announced plans to invest Rs 1.47 lakh crore [1] in a new steel plant in Andhra Pradesh. This significant investment is set to be developed in two phases, with the first phase involving an expenditure of Rs 61,780 crore to achieve a production capacity of […]
Morocco’s green hydrogen ambitions have reached a significant step forward as Prime Minister Aziz Akhannouch chaired a steering committee meeting in Rabat today, where five major investors were selected to develop six projects valued at MAD 319 billion ($31.9 billion) across the country’s three southern regions, marking a major step in Morocco’s push toward sustainable […]
Recent statements highlight the Middle East and North Africa’s (MENA) potential to take the lead in the global industry’s shift toward green iron and steel, according to the Institute for Energy Economics and Financial Analysis (IEEFA). Libya has announced plans to become a supplier of direct reduced iron (DRI) in the Mediterranean basin and beyond unveiling […]
After China announced its plans to restructure its steel industry to cut its total output, there was a surge in the share of steel stock on March 5. The latest plans by China are expected to reduce cheap steel dumping into the Indian market, acting as a major positive to the domestic steel companies. Welspun Corp’s shares […]
Iron ore futures declined on Wednesday due to the tariff war between the United States and top metals consumer China, outweighing optimism about improved demand for Chinese steel. China is the world’s largest consumer of metals, including iron ore, a key raw material for steel production. According to reports, the most-traded May iron ore contract […]
Japan trade minister Muto is to visit US for tariff exemption. Japan’s Economy, Trade, and Industry Minister Yoji Muto is set to visit the United States as early as March 10 for discussions with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, the Asahi Shimbun reported on Tuesday, citing multiple sources. Muto […]
Commodities tycoon Sanjeev Gupta’s GFG Alliance said in a statement on Monday that it remained the largest creditor in Australia’s Whyalla Steelworks at A$536 million ($333.23 million). South Australia’s state premier put Whyalla into administration for unpaid bills on February 19 and said he wants to help develop lower carbon steel production in the state. GFG said […]
Union Steel and Heavy Industries Minister H.D. Kumaraswamy has outlined the government’s strategy to protect the Indian steel industry [1] in light of the new tariffs imposed by the United States. The announcement comes after U.S. President Donald Trump imposed a 25% tariff on steel imports from Canada and Mexico, and a 10% levy on […]
In February, Ukraine-based steel mill Zaporizhstal, a subsidiary of Metinvest, reported a production of 195.7 thousand tons [1] of rolled steel. This figure represents a slight decrease of 1.4% compared to last year. Despite the minor decline in rolled steel production, Zaporizhstal’s overall performance in February remained robust. The company produced 265.4 thousand tons of […]
Recent reports showed a significant growth in the steel manufacturing sector of India, with Sajjan Jindal signing a Memorandum of Understanding (MoU) with South Korea’s POSCO Group. This partnership aims to establish an integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA). “This JV also entails collaboration for […]
Dr. Ronald J. O’Malley, the F. Kenneth Iverson Endowed Chair of Steelmaking Technologies at Missouri University of Science and Technology, has been honored with the 2025 Tadeusz Sendzimir Memorial Medal for Innovation in Steel Manufacturing Technology by the Association for Iron & Steel Technology (AIST). O’Malley earned a Ph.D. in metallurgy from Massachusetts Institute of […]
The European Commission’s decision to scale back its key sustainability reporting regulations could pose challenges for investors seeking to allocate funds toward the bloc’s climate objectives. Since the 2015 global agreement on climate action, Europe has led efforts to transition the real economy toward net-zero emissions by 2050. This includes setting standards for defining “green” […]
Australia’s ambitious plans to become a global leader in green hydrogen production are facing significant challenges [1] as the country approaches its upcoming elections. According to project ratings agency HySights Pte Ltd, the outlook for Australia’s green hydrogen sector has soured, with the ratings of six key projects dropping an average of two bands since […]
Blastr Green Steel (Blastr) has signed a memorandum of understanding (MoU) with Aurora Infrastructure for a build, own, and operate (BOO) agreement. Under this arrangement, Aurora, a Finnish electricity network partner, will be responsible for designing, constructing, operating, maintaining, and financing the electricity distribution infrastructure for Blastr’s proposed steel plant in Inkoo, Finland. Aurora Infrastructure […]
French Minister Marc Ferracci said on Thursday that Europe’s steel sector needs to be better protected from cheap imports as current measures seem insufficient. European steel producers are struggling with weak demand and a surge of low-cost imports from Asia, as China’s massive overcapacity floods global markets, prompting producers to shift excess supply to Europe. […]
Jindal Steel made an offer to the troubled Italian Steelmaker to about €4 billion ($4.2 billion), seeking to outbid rivals from Azerbaijan, people familiar with the matter acknowledged. Jindal’s latest proposal to the Italian government offers a payment of about €1 billion for the asset, along with around €3 billion to revamp the main steel […]
The FBR has issued an SRO 204(I)/2025 to introduce draft amendments in the Customs Rules, 2001, on Tuesday. A tax expert opined that by excluding iron and steel scrap from EFS. The importers of compressors and motors will now have to pay all taxes at import stage, such as customs, sales tax, and income tax. […]
Tata Steel’s managing director, TV Narendran, advocated the implementation of safeguard duties on imported steel aimed at protecting India’s steel sector from the impacts of tariff increases imposed by the US. ” It’s not that India is exporting a lot of steel to the US, but the steel which used to end up in US […]
Bolivia, a South American country, has officially inaugurated the Mutun steel plant in Puerto Suarez, near the country’s border with Brazil, in a bid to reduce its dependence on metal imports. The $546 million megaproject was largely financed by a loan from the Export-Import Bank of China, further strengthening China’s economic and political influence in […]
Al Yamamah Steel Industries Company has agreed with the South Korean branch of Hyundai Engineering & Construction to supply steel towers for a 380 kV ultra-high voltage transmission line project in Saudi Arabia’s western region. In a statement to the Saudi Stock Exchange on Tuesday, the company announced that the contract is valued at 174.91 […]
Dalian iron ore futures ended a four-day winning streak on Monday as rising levies on Chinese steel weakened demand prospects for the crucial steelmaking ingredient. However, the decline was tempered by decreasing portside inventories in China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed 0.77% lower at 832.5 yuan ($114.95) […]
BHP is ramping up its global search for copper to meet surging demand fueled by the energy transition. However, the scarcity of high-quality deposits, particularly in stable jurisdictions, poses a significant challenge for the mining giant, according to recent reports. Over the past five years, BHP has undergone a strategic shift in its investment priorities. […]
South Korean officials have requested an exemption from U.S. reciprocal tariffs on steel and aluminum during their visit to Washington this week, according to a statement from the industry ministry on Friday. Deputy Minister Park Jong-won, leading the first major South Korean government delegation to Washington since U.S. President Donald Trump announced broad tariffs, emphasized […]
Former Indian cricket team captain Sourav Ganguly said on Friday that the steel plant project he is promoting in a partnership at Garbeta, located in West Bengal’s Paschim Medinipur district, is expected to become operational within the next 18-20 months. The project is expecting an investment of Rs 2,500 crore to establish the 0.8 million […]
Prime Minister Anthony Albanese announced on Thursday that a struggling Australian metals plant will be repurposed into a production hub for “green iron and steel” as part of a government-backed billion-dollar rescue package. The initiative aims to revitalize the facility while advancing Australia’s push toward sustainable industrial practices. The company has been known to be […]
The foundation was set for one of Europe’s largest green hydrogen production plants, on Thursday, according to reports. Scheduled to begin operations in 2026, the plant will produce approximately 9,000 tons of green hydrogen annually to be used in the production of carbon-reduced steel. This initiative represents a step in the industrial application of hydrogen […]
Steelinvest and Chinese steel producer Delong Steel have established a joint venture, named Ziming SG Global, to focus on marketing mill export sales. The Joint venture, based in Dubai, is led by Fred Hayrapet of Steelinvest Group. The company will primarily target semi-finished and finished steel products across long and flat products. Hayrapet emphasized that […]
Tata Steel’s proposal to construct a £1.25 billion electric arc furnace (EAF) at its Port Talbot steelworks has been approved by the official from the Port Talbot planning committee. With construction set to commence this summer, the new facility is expected to be fully operational by early 2028. Designed to primarily process scrap steel, the […]
Japan to adopt new techniques to boost nuclear and renewables by 2040 Japan’s government adopted new decarbonisation targets aiming to reduce greenhouse gas emissions by more than 27% in the next 15 years, since 2013, approving renewable energy plan. The country targets to meet carbon neutrality by 2050. Under their plan of action, adopted by […]
BHP Foresees an economic recovery in China and central bank rate cuts to boost demand for steel and copper but asks to be vigilant about potential trade tensions posing risks to global growth, as it reported its lowest first-half profit in six years. BHP had planned a $49 billion takeover of Anglo American, aiming to […]
Emirates Steel Arkan (EMSTEEL) has unveiled its new decarbonisation strategy to reach net-zero emissions by 2050, reports say. The company has announced plans to cut absolute greenhouse gas (GHG) emissions by 40 percent in its steel business unit and by 30 percent in its cement business unit by 2030, using 2019 as the baseline year. […]
Global Leaders Debate Trump’s Steel Tariffs and the Future of Supply Chains As global trade policies and decarbonisation goals collide, the need for innovative solutions in the steel and energy sectors has never been greater. The 2nd World Green Steel, Hydrogen, and Energy Summit to be held in Brussels, Belgium, on 29-30 April 2025 brings […]
A Chinese steel industry group has cautioned that the newly imposed 25% tariff on steel imports to the United States could negatively affect the sector, a state media reported on Thursday. “The US move is essentially an act of trade protectionism,” the China Iron and Steel Association (CISA) said in a statement. “In the short […]
On February 13, Lipetsk Oblast in Russia was under a massive raid by drones, according to regional governor Igor Artamonov. Reports say that the drones allegedly targeted Novolipetsk Steel (NLMK), Russia’s largest steel mill, known to produce about 20% of the country’s steel output. The production facility, situated approximately 400 kilometers from the Russia-Ukraine border, is responsible […]
The partnership between the two companies is prioritising performance monitoring and is implementing reporting mechanisms to track environmental impact while they measure emission reductions and enhance project transparency. SEE Holding has signed a Memorandum of Understanding (MoU) with Arabian Gulf Steel Industries (AGSI), marking a step towards advancing sustainable construction practices in the region. This […]
German industrial giant Thyssenkrupp has reported an increase in earnings despite weaker sales, attributing the growth to its ongoing efficiency initiatives. Meanwhile, the company’s military-related divisions anticipate a boost in demand, driven by rising global defense spending. Thyssenkrupp gave a mixed financial update on Thursday as it highlighted unstable market conditions while highlighting some areas […]
Pakistani state media reported on Wednesday, that the Ambassador of the Russian Federation to the Islamic Republic of Pakistan, Albert P. Khorev has announced cooperation with Islamabad this year in the energy and industrial sectors, including the modernization of a state-owned steel mil. Pakistan Steel Mills (PSM) were assed by a team of technical experts […]
Heathrow Airport CEO Thomas Woldbye is set to respond today to the UK Government’s strong backing for the airport’s expansion, including plans for a third runway. Mr Woldbye is to announce the largest private investment programme in Heathrow’s history and confirm the airport is developing proposals for a third runway to share with Government by […]
Trump’s decision to bring on the 25 percent tariffs on steel and aluminium imports stepped up a long-promised trade war despite warnings from Europe and China. According to reports, Canadian Prime Minister Justin Trudeau said on Tuesday that Canada will resist any US tariffs on steel, announced by President Donald Trump, as this means to […]
US President Donald Trump signed executive orders planning to impose tariffs on steel and aluminium imports starting from March 12, ramping up a long-promised trade war, even after the warning from Europe and china. According to reports, Trump said on Monday in the Oval Office, “Today I’m simplifying our tariffs on steel and aluminum. It’s […]
Qatar Steel and Bahrain Steel have signed a $1.27 billion agreement to supply 5 million tonnes of the product over five years, aiming to enhance industrial cooperation and strengthen the sector in the region. On February 9, Qatar’s Ministry of Commerce and Industry announced the agreement, stating that it aligns with the Industrial Partnership for […]
President Donald Trump met U.S. Steel Chief Executive David Buritt at the White House on Thursday as the struggling steelmaker continued to advocate for a decision on its long-awaited takeover by Japan’s Nippon Steel. A $14.9 billion bid for U.S. Steel by Nippon Steel was blocked last month by former President Joe Biden. Trump has […]
Nissan Motor Co., Ltd. announced its new plans of expansions with the use of low-CO2-emission steel manufactured in Japan, to reduce the proportion of low-CO2-emission steel Nissan uses in Japan in fiscal year 2025, which is expected to increase by a factor of five compared to fiscal year 2023. Nissan says that they aim to […]
The agreements have been signed with Hafeet Rail Infrastructure, the region’s first cross-border rail network connecting Oman and the UAE. Emsteel, the region’s largest publicly traded steel and building materials manufacturers, has established strategic partnerships to streamline raw material sourcing from Oman and cross-border rail transport. Emsteel has formalized agreements with Hafeet Rail Infrastructure, the […]
On Thursday, the world’s second-largest steelmaker projected an improvement in steel demand for 2025 and announced that its annual investment budget would remain in line with the previous year’s. This came after its fourth-quarter earnings surpassed market expectations. By 10:42 GMT, the company’s shares had surged 6.6%, reaching their highest level since April 2024. “Expectations […]
According to Adnan Aslan, The chairman of Türkiye’s Steel Exporters’ Association, the steel industry has the potential to export up to 2 million metric tons to help Syria reconstruct its land post-civil war. With the recent updates from Syria. Aslan said in a press conference that producers in Iskenderun have already begun exporting to Syria, though […]
Thousands of steelworkers marched through the streets of Brussels on Wednesday, calling for urgent intervention from the European Union to support the struggling steel industry. The protest comes as Belgian cinemas screen a documentary highlighting the sector’s decline, underscoring growing concerns over job losses and economic challenges. “L’acier a coulé dans nos veines which means […]
The company is to set up the pellet and DRI plants India’s Larsen & Toubro (L&T) said its minerals & metals (M&M) business vertical had received an order to set up a pellet plant and a direct reduction of iron (DRI) plant in the Middle East & North Africa (MENA) region. The GCC order is a […]
The World Steel Association says that the global crude steel production in 2024 declined by about 1% year-on-year. With the data released, organizations now want to determine where steel prices might go for the rest of 2025. On January 24, the Brussels-based association reported that total volumes for the year exceeded 1.88 billion metric tons, […]
Mexican President Claudia Sheinbaum on Saturday ordered retaliatory tariffs in response to the U.S. decision to slap 25% tariffs on all goods coming from Mexico, as a trade war broke out between the two neighbors. Sheinbaum said through a lengthy post on X that her government prioritized dialogue over conflict with its primary northern trade partner but […]
U.S. companies are expected to seek alternative sources for key industrial metals in response to sweeping tariffs imposed by President Donald Trump, industry sources report. To mitigate the impact of these trade restrictions, businesses are looking to the Middle East and India for aluminium supplies, while turning to Chile and Peru for copper. Trump’s orders […]
A main contractor has been appointed to support Tata Steel’s £1.25bn green steel-making project at its Port Talbot steelworks site. UK construction and civil engineering firm Sir Robert McAlpine has been appointed to oversee the primary civil, structural, and building works for the development of a new electric arc furnace in the town. According to reports, the […]
According to commodity analysts Kpler, China, the world’s biggest buyer of iron ore, is expected to import 99.5 million metric tons of the key steel raw material in January. China’s imports of iron ore and seaborne coal are on track for a soft start to the year, with January arrivals declining to multi-month lows, says […]
Turkish steelmaker Tosyalı Holding has announced plans to invest nearly USD 1 billion to install 1.2 GW of solar power capacity for self-consumption across eight provinces. The initiative aligns with the company’s strategy to enhance renewable energy use in its operations. Tosyalı has signed agreements to develop 120 MW of peak solar capacity in Osmaniye, […]
The sale of Thyssenkrupp Electrical Steel India Private Ltd. has been completed. The transaction was officially completed today, with the buyer being a joint venture between JSW Steel Limited—India’s largest steelmaker and part of the JSW Group—and JFE Steel Corporation, which is Japan’s second-largest steel producer. The target company is based in Nashik, approximately 150 […]
Chief Financial Officer Koushik Chatterjee stated that Tata Steel’s growth strategy will prioritize financial prudence, ensuring that expansion does not come at the cost of rising debt. The company plans to balance internal accruals and deleveraging to sustain its financial health. Tata Steel has revised its breakeven timeline for UK operations, projecting a delay of six […]
Gordon Brothers, the global asset experts headquartered in Boston, US, have been appointed as the exclusive selling agent for a never-used two million tonnes-per-annum (TPA) flat and long steel production plant. The facility is owned by one of the most renowned and largest steel manufacturers in the GCC. According to Gordon Brothers, this sale presents […]
President Donald Trump’s proposal to impose tariffs on U.S. copper and aluminium imports is expected to drive up costs for local consumers due to insufficient domestic production, analysts and industry experts warned on Tuesday. In a speech on Monday, Trump announced plans to levy tariffs on aluminium and copper—both critical for U.S. military hardware—along with […]
The Czech investor Daniel Kretinsky has confirmed his interest in Thyssenkrupp Steel. Daniel Kretinsky runs and owns Energeticky, a prumyslovy holding (EPH), the biggest energy group in Central Europe. During the 2020 market crash, he took the stock market by storm, making bets on companies like Macy’s, Foot Locker, Sainsbury, and Royal Mail. Thyssenkrupp shares […]
Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the state’s role in business, according to government sources, reported Zawya. New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms as they failed to sell […]
The UK steel industry is struggling with challenges due to the soaring electricity costs, threatening its competitiveness and long-term viability. According to UK Steel, the country’s steelmakers are struggling with electricity costs that are up to 50% higher than those in Germany and France. This notable price gap, amounting to approximately £22 per megawatt-hour, is […]
Türkiye’s largest steelmaker, Tosyali Holding, has decided to invest around $1 billion in solar energy investments to support green steel production, the company’s chairman, Fuat Tosyali, said, according to Türkiye today. At the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland, Tosyali said that 70% of the world’s Steel Industry is based […]
HYBRIT (Hydrogen Breakthrough Ironmaking Technology), aims to develop the first value chain for fossil-free steel, with fossil-free electricity and hydrogen. The ambitious collaboration between SSAB, LKAB, and Vattenfall, focuses on plans to transition from its successful pilot phase towards industrial-scale production in the coming years. The initiative aims to reduce Sweden’s carbon dioxide emissions by […]
CEO Mauro Longobardo reported that ArcelorMittal Kryvyi Rih failed to reach break-even production levels in 2024. He attributed this to several factors, including electricity supply shortages, high energy prices, the need to import a significant portion of electricity, staffing, and expensive logistics with unfavorable pricing conditions in metal markets. “All of this negatively affects our […]
Hyundai Steel, an affiliate of automakers Hyundai Motor, South Korea has decided to build a steel plant in the United States. As President Donald Trump prepares to intensify protectionist measures, the company decides to make a move. On Tuesday, Trump announced plans to impose tariffs on multiple fronts, including a potential 25% tariff on Mexico […]
Starting on April 16, Helena Norrman has been appointed as EVP & Head of Group Communications, a newly created role in the company’s Group Executive Committee. Helena will oversee SSAB’s communication strategies and operations and will be responsible for communication at SSAB. SSAB developed SSAB Fossil-free™ steel with the intent to reinvent the value chain […]
Russian coal and steel producer Mechel, sanctioned by the United States a year ago, has agreed on a new debt restructuring as low coal prices and high interest rates put pressure on its payment schedule. Russian companies and lobby groups have raised concerns over soaring interest rates, which closed the year at a steep 21%. […]
Billionaire Sajjan Jindal-led JSW Group has unveiled plans to invest ₹3 trillion ($34.67 billion) in Maharashtra, strengthening its presence in electric vehicles, battery production, steel, and green energy sectors. The ports-to-cement conglomerate signed an agreement with the Maharashtra government during the World Economic Forum in Davos, Switzerland. Maharashtra, India’s financial capital, is set to benefit […]
European Union co-founded a project named TWINGHY, aiming to introduce hydrogen as a fuel to replace natural gas in reheating furnaces in the steel sector. The project aims to create a digital twin-control furnace behavior and enhance operational efficiency. The EU-funded project, launched in 2023, will continue for three years with a budget exceeding EUR […]
President Donald Trump announced an ambitious plan on Monday aimed at bolstering oil and gas production in the United States. The proposal included declaring a national ‘energy emergency‘ to accelerate permitting processes, rolling back environmental regulations, and withdrawing the U.S. from an international climate agreement. The strategy represents a stark departure from the energy policies […]
Vale, a global leader in sustainable mining, has reported to take a major step toward green steel production by signing a land reservation agreement with the Royal Commission of Jubail and Yanbu in Saudi Arabia. The agreement paves the way for the development of a Mega Hub at Ras Al-Khair Industrial City, marking a strategic […]
Brazil’s steel imports marked growth by the record of 18pc in 2024, as exports declined. Reports suggest that steel imports have risen to 5.9mn metric tonnes from 5 million tons in 2023, according to the national steel industry body Instituto Aco Brasil. December imports fell by 36pc to 324,000 tonnes from the same month in […]
UK port operator Peel Ports will implement higher steel handling and storage fees at the Port of Liverpool starting April 1, citing a 10% rise in operational costs and other contributing factors. The port has recently invested in two new indoor storage facilities dedicated to steel and metals, adding to its existing sheds nine and […]
