India’s finished steel consumption edged past the 100 MT milestone mark for the
first time. Total finished steel production in 2019-20 was 102.059 MT, up by 0.8%
and consumption was at 100.067 MT, up by 1.4%. India was a net exporter of
total finished steel with exports at 8.355 MT, up by 31.4% outpacing imports 6.768
MT, down by 13.6%. India’s finished steel production in March’20 was 7.09 MT,
down by 23.7% y-on-y while steel consumption in March was 6.7 MT, down by
29.54% y-on-y. (Source - Press Reports)
SSAB Americas has decided to bring forward its planned maintenance outages for 2020. The mill in Montpelier, Iowa was going to be down for maintenance starting on June 22 and lasting three to four weeks. The plate mill in Iowa has an annual rated capacity of 1.13 million st. (Source – Platts)
German steelmaker Salzgitter is extending its production cuts and will reduce shifts from May onwards as the company sees a drop in orders. The cuts are primarily affecting the flat steel division, which is the largest business of Salzgitter and heavily affected from the recent automotive shutdowns. Salzgitter will formerly apply for the short-time working scheme, which entails financial support from the German Government for worker salaries.(Source – Platts)
British Steel said 300 workers would be returning to its Skinningrove plant from Monday after a three-week furlough period. Production was suspended at the site due to lockdown measures. British Steel also confirmed a smaller number of furloughed workers at its Lisburn service center in Northern Ireland would be coming back to work on a phased basis. (Source – Platts)
China imported 5.63 MT of coking coal in March this year, up by 8.04% y-on-y. In the January-March period China imported 20.9 MT of coking coal, up by 27.53% y-on-y. Following resumption of custom clearances in January, import volumes increases sharply. In March, China imported 4.3 MT of coking coal from Australia, up by 96.36% y-on-y. (Source – Steelorbis)
Scandinavian steelmaker Ovako and Linde Gas AB have conducted a full-scale trial using hydrogen to heat steel before rolling. The trial was performed with good results in one of the company’s pit furnaces at the Hofors rolling mill in Sweden. Ovako claims that the use of hydrogen in combustion would have a great positive effect on the environment since the only emission generated is water vapour. (Source – Steeltimesinternational)
Baoshan Iron & Steel Co Ltd., China’s top listed steelmaker, reported a 43.6% plunge in first-quarter net profit and warned of a big first-half drop citing the coronavirus pandemic. Its January-March net income fell to 1.54 billion Yuan (US$ 217 million) from 2.73 billion a year earlier. In the first quarter Baosteel produced 11.8 MT of steel. (Source - Press Reports)
SSAB Americas has decided to bring forward its planned maintenance outages for 2020. The mill in Montpelier, Iowa was going to be down for maintenance starting on June 22 and lasting three to four weeks. The plate mill in Iowa has an annual rated capacity of 1.13 million st. (Source – Platts)
German steelmaker Salzgitter is extending its production cuts and will reduce shifts from May onwards as the company sees a drop in orders. The cuts are primarily affecting the flat steel division, which is the largest business of Salzgitter and heavily affected from the recent automotive shutdowns. Salzgitter will formerly apply for the short-time working scheme, which entails financial support from the German Government for worker salaries.(Source – Platts)
British Steel said 300 workers would be returning to its Skinningrove plant from Monday after a three-week furlough period. Production was suspended at the site due to lockdown measures. British Steel also confirmed a smaller number of furloughed workers at its Lisburn service center in Northern Ireland would be coming back to work on a phased basis. (Source – Platts)
China imported 5.63 MT of coking coal in March this year, up by 8.04% y-on-y. In the January-March period China imported 20.9 MT of coking coal, up by 27.53% y-on-y. Following resumption of custom clearances in January, import volumes increases sharply. In March, China imported 4.3 MT of coking coal from Australia, up by 96.36% y-on-y. (Source – Steelorbis)
Scandinavian steelmaker Ovako and Linde Gas AB have conducted a full-scale trial using hydrogen to heat steel before rolling. The trial was performed with good results in one of the company’s pit furnaces at the Hofors rolling mill in Sweden. Ovako claims that the use of hydrogen in combustion would have a great positive effect on the environment since the only emission generated is water vapour. (Source – Steeltimesinternational)
Baoshan Iron & Steel Co Ltd., China’s top listed steelmaker, reported a 43.6% plunge in first-quarter net profit and warned of a big first-half drop citing the coronavirus pandemic. Its January-March net income fell to 1.54 billion Yuan (US$ 217 million) from 2.73 billion a year earlier. In the first quarter Baosteel produced 11.8 MT of steel. (Source - Press Reports)
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