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Liberty Steel gets EC approval for acquisition of Hungary’s Dunaferr
“We are now working at pace to complete the transaction as quickly as possible,” a Liberty Steel spokesperson commented.Liberty Steel has been working closely with Dunaferr to help restart the latter’s blast furnace No.Liberty Steel paid about HUF 20 billion (€51.65 million) to acquire Dunaferr in a liquidation procedure this summer.2, meltshop and cold rolling mill, as SteelOrbis previously reported.

🌎 International · 🗓️ October 10, 2023 · Steel

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UK steel imports resemble ‘a python swallowing a goat’
The reporting of the carbon emissions embedded in steel products entering the EU begins on October 1.The panel debate covered a wide range of topics, including the EU’s incoming Carbon Border Adjustment Mechanism (CBAM) and the need to decarbonise the UK steel industry.And Wooffindin also expressed concern about the cost of energy in the UK, compared to countries elsewhere in Europe.He said: “We do need a decarbonised steel offering in the UK.”Murphy, however, suggested that the UK government’s investment to decarbonise domestic steelmaking was “still behind the curve” compared to counterparts in the EU.

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🌎 International · 🗓️ October 10, 2023 · Steel

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India’s NMDC reports 10% rise in iron ore output in September
86 percent over the corresponding month of the previous year.88 percent over the corresponding period of the previous fiscal year.The miner reported total sales of 3.During the April-September period of the fiscal year 2023-24, NMDC achieved an aggregate iron ore output of 19.56 million mt, a rise of 20.

🇮🇳 India · 🗓️ October 10, 2023 · Steel

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India’s JSPL commences production from captive coal mine
The company said that coal production from the Gare Palma mine in the central state of Chhattisgarh would support expansion of its Raigarh steel mill, also located in the same state, to 9.“The coal production from our captive coal mine is perfectly aligned with our expansion of the steel mill using domestic coal.6 million mt per year from 3.6 million mt at present.We aim to finance this expansion predominantly through internal accruals, ensuring a healthy balance sheet,” the statement said.

🇮🇳 India · 🗓️ October 10, 2023 · Steel

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India’s APL Apollo Tubes reports 12% rise in sales volume in Q2
During the first half (April-September) of the fiscal year 2023-24, the company reported a total sales volume of 1.The sales mix should eventually move towards 70 percent of value-added products,” the statement said.The sales mix will improve further in the coming quarters with a rising contribution of innovative products.“The contribution from the value-added segment was stable at 55 percent in the current fiscal year.34 million mt, up 30 percent year on year, the statement indicated.

🇮🇳 India · 🗓️ October 10, 2023 · Steel

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