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US stainless market resilient as EU mill profits slump
The facility is already the largest integrated stainless steel producer in the United States.6 percent, to €411 per tonne, in the second quarter of 2023.Acerinox and Outokumpu have a large presence in the US and European markets.These figures are considerably lower than the peak reached in the second quarter of 2022.The results are important because they contribute to the underlying reasons that two of those producers intend to grow their presence in the US market.

🔗MEPS International

🌎 International · 🗓️ September 06, 2023 · Steel

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Veysel Yayan: New investments in Gulf region to be a rival to Turkish steel producers
The association emphasized that preventing China from sending the surplus caused by the contraction of its construction sector to Turkey is important in order to close the current trade foreign deficit of the Turkish steel industry.In addition, according to the latest statement of the TCUD, steel imports from China, the country from which Turkey imports the most after Russia, increased by 84 percent in the first seven months this year.Stating that most of the given investments are export-oriented, the TCUD secretary general pointed out that the competitiveness of the Turkish steel industry is already low due to Turkey’s high energy prices.

🌎 International · 🗓️ September 06, 2023 · Steel

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US rebar imports down 27.6 percent in July
Other top sources of imported rebar in July include Algeria, with 22,912 mt; Mexico, with 16,839 mt; Spain, with 15,886 mt; and Malaysia, with 9,243 mt.Other top sources of imported rebar in July include Algeria, with 22,912 mt; Mexico, with 16,839 mt; Spain, with 15,886 mt; and Malaysia, with 9,243 mt.The US imported the most rebar from Egypt in July, with 52,005 mt, compared to 34,166 mt in June and zero tonnage in July 2022.The US imported the most rebar from Egypt in July, with 52,005 mt, compared to 34,166 mt in June and zero tonnage in July 2022.

🌎 International · 🗓️ September 06, 2023 · Steel

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Germany’s SHS joins ResponsibleSteel initiative
ResponsibleSteel is an initiative that aims to encourage steelmakers to produce carbon-neutral steel.SHS is already taking measures to reduce carbon emissions and plans to switch to natural gas and hydrogen as reducing agents instead of coal.Turkey-based Colakoğlu also became a member of ResponsibleSteel last year, as SteelOrbis reported previously.Its subsidiaries Dillinger and Saarstahl have a cumulative steel production of 5 million mt per year.There are over 130 members of the initiative apart from steelmakers, such as buyers, miners and non-governmental organizations.

🌎 International · 🗓️ September 06, 2023 · Steel

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New Capacity Roundup – August 2023
The addition of the furnace will facilitate greater use of scrap steel in the melting process, contributing to the company's goal of achieving a 10 percent reduction in the plant's overall emissions, by 2025.1 billion for the project, making it the largest single investment in the company’s history.The company expects that the site will have the lowest CO2 emissions of any steel producer in North America.The project involves the replacement of two blast furnaces and two basic oxygen furnaces, with a 2.The company states that the modifications will lead to a 10 percent reduction in gas consumption and a 5 percent increase in productivity.

🔗MEPS International

🌎 International · 🗓️ September 06, 2023 · Steel

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