steel production

Essar Group invests $4 billion in a steel plant in Saudi Arabia

The project to be completed by the end of 2025
Global steel output in August 2022 decreased by 3% y/y

Total production in the CIS countries and Ukraine decreased by 22.4% y/y for the month

India’s Adani Group to enter the steel market through the acquisition of RINL

Indian government approved the sale of 100% state-owned RINL's shares

Italy cut steel production by 42% y/y in August 2022

In January-August 2022, steel production decreased by 10% y/y

The Indian steel minister calls for support the country’s steel industry

The Ministry of Finance is proposed to cancel import duties on various steel raw materials

The Hungarian steel mill Dunaferr was forced to stop production

The reason was the refusal of the Austrian Donau Brennstoffkontor GmbH to supply coke

Decarbonization of global iron and steel industry by 2050 will cost $1.4 trillion

The measures include the modernization of the existing steel production infrastructure and the development of new deposits with high-quality iron ore

Indian government may reduce export duty on steel and iron ore

India's imports of iron ore and steel are rising amid declining exports, requiring government action to remedy the situation
ArcelorMittal has reduced HRC prices in Europe by €40/t

In early September 2022, the company raised product prices, but the determination quickly weakened due to low demand
The Italian rolling mill Arvedi shut down three electric arc furnaces

High electricity prices and low demand for steel forced the company to shut down two furnaces in Cremona and one in Terni

US Steel has shut down a blast furnace at its Gary Works plant in Indiana

The company reduced the plant capacity due to the high level of imports and unfavorable conditions in the flat rolled market

China to increase exports of value-added steel products – CISA

The country's steelmakers are called to promote investment and development of foreign steel projects

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