📎 Steel News

ℹ️ Latest steel industry news.

🇮🇳 National News 🌎 International News

🔁 Reset news feed

US steel associations urge Treasury to ensure energy-related steel qualify for IRA tax credits
“We believe that the agency should take appropriate action to fix…errors in the recently issued guidance,” the associations said in the letter.“It is critical to ensuring that the clear intent of Congress to incentivize the use of domestic steel and iron in clean energy projects is realized.”The letter urges the agency to ensure the guidance does not “unwittingly benefit China and other countries that have repeatedly exported dumped and subsidized steel into the US market, injuring domestic steel producers and their workers.There are no constraints on domestic supply that would justify removing them from the scope of the IRA’s domestic iron and steel requirement.In a letter to Treasury Secretary Janet Yellen, American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), American Institute of Steel Construction (AISC), Committee on Pipe and Tube Imports (CPTI) and Specialty Steel Industry of North America (SSINA), expressed concern that the current guidance allows the use of imported steel in place of available domestic steel products in three areas: monopiles for offshore wind facilities, steel components with structural functions in photovoltaic tracking systems (including torque tubes, foundations and rails) and steel fasteners.

🌎 International · 🗓️ August 01, 2023 · Steel

WhatsApp Facebook Messenger Linkedin Telegram Twitter

US tool steel exports up 1.9 percent in May
The US shipped the most tool steel to Mexico in May with 6,678 mt, compared to 6,559 mt in April and 4,561 mt in May 2022.Other top destinations included Canada, with 1,923 mt.There were no other significant destinations (1,000 mt or more) for US tool steel exports in May.

🌎 International · 🗓️ August 01, 2023 · Steel

WhatsApp Facebook Messenger Linkedin Telegram Twitter

Feralpi Group: An exceptional 2022 and major investments ahead
57 percent of the total, up from the previous year (58.The financial performance reached the greatest levels ever in the group’s history: EBITDA amounted to €0.These forecasts are based on the absence of significant changes in the crisis regarding the war in Ukraine and a scenario of ongoing consolidation.About the future, Feralpi commented that the uncertainties due to high inflation, the significant increase in interest rates and the consequences of Russia’s invasion of Ukraine are now characterizing the steel industry.“We chose the hardest route with a concrete commitment to decarbonized steel, thanks to the approval of solid investment in the diversification of energy sources with the establishment of Feralpi Power On and the electrification of our production facilities,” stated Giuseppe Pasini.

🌎 International · 🗓️ August 01, 2023 · Steel

WhatsApp Facebook Messenger Linkedin Telegram Twitter

ArcelorMittal México confirms $150 million mining expansion will operate in H2 2024
In 2021, the steel company reported the investment of $150 million to increase 1.However, at the beginning of 2023 the company reported that due to delays in the delivery of the equipment, progress of works and permits with the Mexican authorities, the project would take another year, until 2024.At that time, the steelmaker forecast that the project would be in operation in the second half of 2023.The company also reported that the project is estimated to add approximately $50 million of EBITDA per year on full completion and post ramp up.3 to 2.

🌎 International · 🗓️ August 01, 2023 · Steel

WhatsApp Facebook Messenger Linkedin Telegram Twitter

EUROFER: EU’s finished steel exports fall by 11 percent in Jan-Apr
In the January-April period, the EU’s exports of finished products to Egypt increased by 35 percent, while exports to Brazil, the US, Switzerland, the UK, Norway and China decreased by one percent, 10 percent, 18 percent, 20 percent, 26 percent and 26 percent, respectively, all year on year.According to the EUROFER report, in the first four months flat product exports accounted for 67 percent of finished product exports and long product exports accounted for the remaining 33 percent.In the given period, the region’s exports of finished products fell by 11 percent, while exports of flat and long products decreased by 14 percent and six percent, respectively, all year on year.During the first four months of 2023, EU’s total steel exports declined by nine percent year on year.In the given period, exports of finished products to Ukraine rose by 209 percent due to improved trade functioning.

🌎 International · 🗓️ August 01, 2023 · Steel

WhatsApp Facebook Messenger Linkedin Telegram Twitter

👀 Most Read

Y-38, Ground Floor, Loha Mandi, Block Y, Naraina Industrial Area Phase 1, Naraina, Delhi, 110028

+91-7217714976

info@steelonclick.in

Quick Links

Support Links

Newsletter