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voda 19 oktober 2022 06:35

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Electra Raises Funds to Develop Low-Temperature Iron Technology

Strategic Research Institute
Published on :
19 Oct, 2022, 4:08 am

Boulder Colorado based green iron company Electra has raised USD 85 million to produce Low-Temperature Iron from commercial and low-grade ores using zero-carbon intermittent electricity. Electra’s process emits zero carbon dioxide emissions and carries zero green premium, meaning it will cost the same or less than existing production methods powered by fossil fuels.

Electra, founded by entrepreneurs with decades of experience developing complex electrochemical systems, has created a novel process to electrochemically refine iron ore into pure iron at 60 degrees Celsius using renewable electricity and then convert the iron to steel using the existing infrastructure of electricity-powered arc furnaces. By comparison, 69% of steel today is made at approximately 1,600 degrees Celsius using coal, emitting about two tons of carbon dioxide for every ton of steel produced.

Electra leverages proven electrochemical and hydrometallurgical methods to reach industrial scale with low technical and scaling risks. Electra will complete the build-out of a green-iron refining pilot plant in 2023 at its headquarters in Boulder, CO, and plans to have a commercial-scale demonstration plant qualified by the second half of this decade. The 50-person company recently opened a new office in Boston, MA to help expand its roster of engineers, scientists, and professional support staff.

voda 19 oktober 2022 06:35

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LIBERTY Steel UK Completes ecoke Trial at Rotherham

Strategic Research Institute
Published on :
19 Oct, 2022, 4:10 am

LIBERTY Steel UK has successfully completed trials of ecoke, a sustainable new raw material that can replace anthracite, the main source of charge carbon in electric steelmaking, and reduce steel’s carbon footprint by as much as 30%. The ecoke initiative is part of LIBERTY’s drive to lead transformation of steel manufacturing through its GREENSTEEL strategy. Production at LIBERTY’s electric arc furnace in Rotherham generates just 10% of the direct emissions compared with traditional coal-based blast furnaces which produce the vast majority of the UK’s steel output.

LIBERTY Steel UK’s steelmaking team at Aldwarke Cast Products in Rotherham performed a review of the processes to identify opportunities to reduce its CO2 emissions. The team identified anthracite as the main source of charge carbon in electric arc furnace production- accounting for between 86 and 97%.

A steering team was formed in Rotherham to replace anthracite with environmentally sustainable alternative. The group considered all available options and finally identified CPL Industries as local supplier of biofuel called ecoke.

Ecoke contains a minimum of 30% secondary biomass giving a CO2 reduction of 30%. The briquettes are delivered to site in similar packaging to the anthracite and ecoke is charged into the electric arc furnace in the same manner as the anthracite via the scrap basket providing an ideal solution for steelmaking operations.

The trials open up an immense opportunity both within LIBERTY’s business and potentially in other areas of the steel industry worldwide. In addition to the environmental benefits, the reduction in carbon credits would provide a substantial cost saving for the company.

voda 19 oktober 2022 06:37

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Tenova to Provide ArcelorMittal with a 2.5 MTPY DRI Plant

Strategic Research Institute
Published on :
19 Oct, 2022, 4:11 am

Tenova was recently chosen by ArcelorMittal Dofasco for the design and supply of a hydrogen-ready 2.5 million tonnes per year ENERGIRON direct reduction plant, to be located in Hamilton in Canada. The ENERGIRON technology, jointly developed by Tenova and Danieli, is the most flexible DR technology for virgin metallic unit production in terms of makeup gases utilization and is already designed to maximize the reduction of CO2 emissions.

The ArcelorMittal Dofasco plant will transition away from the blast furnace-basic oxygen furnace steelmaking production route to the Direct Reduced Iron Electric Arc Furnace production route, which carries a significantly lower carbon footprint. The investment will reduce annual CO2?emissions at Hamilton operations by approximately 3 million tonnes, which represents approximately 60% of emissions.

The new ENERGIRON plant will be able to use Natural Gas as reducing agent with the possibility to mix it with hydrogen up to 100%. The plant will have the flexibility to use different reducing gases in any combination or proportion, using the same ENERGIRON ZR scheme.

The technology has the capability to capture and use CO2, which will further reduce the overall plant CO2 emissions and provide an additional revenue stream for the plant operations. The plant will produce hot DRI pellets that will be processed via the proven HYTEMP, a pneumatic transport system, to a new EAF mill to be located next to the ENERGIRON plant.

voda 19 oktober 2022 06:38

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Government in talks with British Steel & Tata Steel to Save Jobs

Strategic Research Institute
Published on :
19 Oct, 2022, 4:13 am

Reuters reported that British Government is in talks with British Steel & Tata Steel UK to help secure the industry's long-term future. A government spokesperson said “We are working across the steel sector on achieving their sustainable and competitive long-term future. We recognise that businesses are feeling the impact of high global energy prices, particularly steel producers, which is why we announced the Energy Bill Relief Scheme to bring down costs.”

The government said British Steel has agreed to maintain current operations and job numbers while the talks were under way. Sky News reported earlier on Monday that Business Secretary Jacob Rees-Mogg had written to Jingye Group to express a willingness to negotiate over the Chinese company's request for a bailout to avoid thousands of job losses. Jingye, which bought British Steel out of insolvency in 2020, had told the government that its two blast furnaces at its Scunthorpe steelworks were unlikely to be viable without government aid

Tata Steel UK has asked for GBP 1.5 billion for the transition to green energy. It plans to replace carbon-intensive blast furnaces with electric arc furnaces over the next few years. But Tata Steel on 14 October clarified on the news report regarding talks of exit from the UK Business. In an exclusive interaction with Moneycontrol, Tata Steel's Chief Financial Officer Mr Koushik Chatterjee said that the company is still actively engaging with the UK Government regarding the subsidy issue, and any talk of exit is speculative. He added that it is not in talks with any potential buyers for the UK business. He told “Media reports stating the company’s plan to exit the UK business is completely speculative in nature.”

Both British Steel and Tata Steel UK have indicated they plan to transition at least a portion of their business to EAF steelmaking over the coming years. The former's net zero plan calculates the company will be able to achieve a 28% reduction of its emissions by 2035 through by transitioning to EAF steelmaking and other "new ways of working".

voda 19 oktober 2022 06:38

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Hyundai Steel Shuts Production at 2 CR Mills Dangjin amid Strike

Strategic Research Institute
Published on :
19 Oct, 2022, 4:15 am

Business Korea reported that South Korean steelmaker Hyundai Steel has decided to shut down its cold rolling mills at Dangjin Steel Works in South Chungcheong Province for two weeks. Hyundai Steel will shut down its Dangjin Works Cold Steel Mill 1 and 2 for two weeks from 12 -26 October. The labor union’s guerrilla-style strike has disrupted the supply of hot-rolled steel sheets required to produce cold-rolled steel sheets.

The steelmaker produces hot-rolled steel sheets, a material for cold-rolled steel sheets, but a labor strike has disrupted the operation of its hot steel mills, forcing the company to shut down its cold steel mills as well.

The company's four labor unions affiliated with the Korean Confederation of Trade Unions started a guerrilla-style strike on 24 September 24, insisting on joint negotiations for wage and collective bargaining for 2022. The unionists expanded the scope of their strike from the thick steel plate and special steel plants in Dangjin Works to the hot steel mills since the beginning of October.

Hyundai Steel's plant in Suncheon, South Jeolla Province, is not participating in the strike, but a major repair of its cold steel production line is scheduled from Octonber 16 to 24.

voda 19 oktober 2022 06:39

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Sasol & ArcelorMittal SA Join Hands for Hydrogen & Green Steel

Strategic Research Institute
Published on :
19 Oct, 2022, 4:16 am

South African-based energy & chemical company Sasol and ArcelorMittal South Africa have signed a Memorandum of Understanding to cooperate on green energy development and the decarbonization of the manufacturing industry during the African Energy Week. The MoU will enable Sasol and ArcelorMittal South Africa to also cooperate on green hydrogen knowledge sharing and on skills and workforce development.

South Africa’s Minister of Mineral Resources & Energy Gwede Mantashe said “Sasol aims to lead the energy transition in Africa and we intend to play a key role in maximizing hydrogen opportunities. We will revitalize different sectors to stimulate technology development while ensuring global competitiveness of various regions and sectors. We will work with various government entities and the private sector to ensure sustainability and the partnership with AMCO is a crucial enablement of a green hydrogen economy in South Africa. With the partnership, we will put Southern Africa ahead of the global energy transition by repurposing our business to produce hydrogen at scale.”

Mabelane added that “Sasol will partner with AMSA at Saldanha Industrial Development to repurpose the facility. With the collaboration, we will ensure South Africa regains its global competitiveness by incrementing the production of steel and green hydrogen. We will capture carbon from AMSA operations and transport it via a pipeline to power our operations and in the process decarbonize.”

voda 19 oktober 2022 06:39

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Imerys to Expands Refractory Making Capacity at Vizag in India

Strategic Research Institute
Published on :
19 Oct, 2022, 4:18 am

French industrial minerals producer Imerys is expanding its Indian manufacturing base to ramp up production of calcium aluminates, a key high temperature material in the production of refractories,. Imery will be investing an estimated USD 43 million at its existing plant at Vishakhapatnam to increase production of calcium aluminates to 50,000 tonnes per year from 30,000 tonnes per year to serve rising demand from the domestic steel and cement sectors,

Calcium aluminate is the key binder for monolithic refractories and much of the current demand in India is understood to be met through imports.

While the company remains focused on serving Indian demand, the Vizag manufacturing facility is well equipped for servicing overseas markets such as Asia Pacific and the Middle East, contributing to India's efforts to strengthen its position in the global manufacturing supply chain

As part of its strong focus on developing bespoke products for the local markets, Imerys is also in the process of setting up a regional R&D centre in Vizag. The centre will support local product development and innovation for specific customer mandates in India, and Imerys expects that it will also contribute to augmenting the company's global technical and manufacturing standards.

voda 19 oktober 2022 06:40

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Worldsteel Elects New Officers & Welcomes New Members

Strategic Research Institute
Published on :
19 Oct, 2022, 4:20 am

The Board of Members of the World Steel Association has elected the following Executive Board of Directors for the 2022/2023 period. The individuals on the Executive Board of Directors will hold office for one year:

Chairman – Mr Jeong-Woo CHOI, CEO, POSCO Holdings

Vice-Chairman – Mr Sajjan JINDAL, Chairman and Managing Director, JSW Steel Limited

Vice-Chairman – Mr Leon J TOPALIAN, President & Chief Executive Officer, Nucor Corporation

Treasurer – Mr Mark VASSELLA, Managing Director & CEO, BlueScope Steel Limited

Chairman of worldstainless – Mr Timoteo DI MAULO, CEO, Aperam

The Board of Members has also elected the 2022/2023 Executive Committee:

Salah AL-ANSARI – President, HADEED, Saudi Iron & Steel Company (a SABIC affiliate)

David B. BURRITT – President and Chief Executive Officer, United States Steel Corporation

CHEN Derong – Chairman of the Board, China Baowu Steel Group Corporation Limited

Jeong-Woo CHOI – CEO, POSCO Holdings

Ugur DALBELER – CEO, Çolakoglu Metalurji A.S.

Eiji HASHIMOTO – Representative Director and President, Nippon Steel Corporation

Sajjan JINDAL – Chairman and Managing Director, JSW Steel Limited

André Bier Gerdau JOHANNPETER – Executive Vice Chairman, Gerdau SA

Yoshihisa KITANO – President & CEO, JFE Steel Corporation

Lakshmi N. MITTAL – Executive Chairman, ArcelorMittal

Alexey A. MORDASHOV – Chairman of the Board of Directors, Severstal (PAO) (passive member)

Thachat Viswanath NARENDRAN – Chief Executive Officer & Managing Director, Tata Steel

Paolo ROCCA – President and CEO, Techint Group

Leon J. TOPALIAN – President & Chief Executive Officer, Nucor Corporation

YU Yong – Chairman, HBIS Group Co., Ltd.

Hubert ZAJICEK – Member of the Board, CEO of Steel Division, voestalpine A.G.

Edwin BASSON, Director General, World Steel Association (worldsteel), as Secretary

The Board of Members has also welcomed the following steel producers as regular members:

Baku Steel Company CJSC (Azerbaijan), represented by Kamal IBRAHIMOV

thyssenkrupp Steel Europe AG (Germany), represented by Erika MINK-ZAGHLOUL

voda 19 oktober 2022 06:43

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Burst Reality, COVID & Power Crisis Doom Chinese Steel Sector

Strategic Research Institute
Published on :
19 Oct, 2022, 4:47 am

China’s steel sector is precariously placed financially as a financial downward spiral hit the Chinese economy hard. The present crisis started about a year ago. That’s when a leading Chinese property developer, Evergrande, announced that it could no longer support some USD 300 billion in liabilities. The Chinese authorities’ reaction this time worsened the situation. A few months ago, the Chinese government announced a fresh fiscal stimulus. However, it appears that it was too little too late. The country’s industries were already reeling from a fresh COVID-19 outbreak, frequent power cuts, and the Ukraine invasion. What China is experiencing is a textbook illustration of how a financial crisis unfolds.

The Chinese steel industry now face a bleak future as they head into the last quarter of the year, as the steel manufacturing industry’s profitability has already dropped massively. In fact, less than 20% of companies announced a profit in April-June quarter as compared with the 80% who enjoyed profitability in January-March 2022 and only about five of the 25 domestically listed steel companies estimated a rise in their profits for the first half of the year.

China is not only one of the world’s biggest steel manufacturers but also its biggest steel consumer. It took the mantle of the largest steel producer back in 1996, but production reached a record 1.07 billion tons as recently as 2020. Despite these impressive numbers, domestic companies account for around 95% of Chinese steel consumption. At present, China’s steel production capacity is 1.2 billion tons a year, with annual consumption hovering around 1 billion tons. However, a lack of interest from real estate developers after the real estate crisis has caused many projects to shut down, reducing steel uptake. After all, real estate and auto manufacturing are some of the biggest steel consumers in the country. Meanwhile, around 29% of Chinese real estate companies claim to be nearing bankruptcy.

The China Iron & Steel Association recently held a video conference at which it discussed the operational situation of Chinese steelmakers in the third quarter this year and the difficulties in production and operations they will likely face in the coming period. Accordingly, the CISA said it believes that the Chinese steel industry will continue to face difficulties in the fourth quarter this year, while steelmakers should try their best to improve efficiency and to work hard. With the implementation of the national economic stability package policy, the national economy will maintain a recovery trend and so demand for steel is expected to gradually pick up in the future. CISA noted that “China’s steel industry will face a totally different market outlook instead of the situation in 2008 and 2015. There will be some steel makers who will change their way of thinking and doing business, while there will be other steelmakers who will withdraw from the steel market.”

voda 19 oktober 2022 07:22

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EU to prolong free CO2 allowances beyond 2030
155 Views

European steelmakers are on track to receive free CO2 allowances as part of the Emissions Trading System (ETS) beyond 2030, Kallanish learns from sources.

In May, the European Parliament’s committee voted in favour of accelerating the phasing out of ETS free allocations, cutting them for European steelmakers from 2030. In a recent meeting, though, the parties reached an understanding to continue them until at least 2032.

Peter Liese, lawyer and negotiator involved in reforming the ETS system, confirms in a statement that a first agreement was reached.

“The Commission proposal wanted to get rid of the respective calculation methodology which would have created an enormous challenge for the steel industries, much bigger than for other industries, after the implementation of the amended ETS,” Liese says. “We now concluded that the rules for the steel industry will remain the same. Of course, the steel industry will be challenged by the higher target and the respective changes in the linear reduction factor like all other industries.”

Eurofer has welcomed this development, but notes that free allocations will nevertheless be reduced as part of the plan to phase out allowances, and that costs are yet to be calculated for the sector.

Emanuele Norsa Italy

voda 19 oktober 2022 17:33

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Minder vraag naar staal voorzien dit jaar

Door ABM Financial News op woensdag 19 oktober 2022
Views: 781

(ABM FN-Dow Jones) De wereldwijde vraag naar staal zal dit jaar met ruim 2 procent krimpen, onder invloed van de hoge inflatie en stijgende rentes, na een groei met bijna 3 procent in 2021. Dat kondigde de World Steel Association woensdag aan.

De raming is een neerwaartse bijstelling.

Voor dit jaar wordt nu een vraag van 1.797 ton staal voorzien. Ook de economische vertraging in China en de gevolgen van de Russische invasie van Oekraïne spelen een rol.

Volgend jaar wordt weer een groei van 1,0 procent voorzien tot 1.815 miljoen ton, door een aantrekkende vraag van infrastructuurprojecten. Vooral de Europese vraag kent nog wel neerwaarts risico’s vanwege de dreigende energiecrisis komende winter.

In China is de vraag naar staal in de eerste acht maanden van het jaar met 6,6 procent gedaald en voor heel 2022 gaat de brancheorganisatie uit van 4 procent krimp. Ook hier zijn nog aanzienlijk neerwaartse risico's aanwezig, waarschuwt World Steel.

Voor de Europese Unie wordt een krimp van 3,5 procent voorzien dit jaar en eveneens krimp in 2023, zo lang de gasaanvoer niet aanzienlijk verbetert, met neerwaarts risico bij een strenge winter, waardoor de gastekorten zouden oplopen.

Voor Amerika voorziet World Steel geen krimp, evenals voor Japan, maar voor Zuid-Korea weer wel.

Bron: ABM Financial News

voda 20 oktober 2022 08:04

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Steel Dynamics Reports Strong Results for Jul-Sep’22 Quarter

Strategic Research Institute
Published on :
20 Oct, 2022, 4:55 am

Fort Wayne Indiana headquartered Steel Dynamics has reported third quarter 2022 net sales of USD 5.7 billion and net income of USD 914 million. SDI Chairman, President & Chief Executive Officer Mr Mark D. Millett said “The team delivered a strong performance during the quarter. Our third quarter 2022 consolidated operating income was USD $1.2 billion, with adjusted EBITDA of USD 1.3 billion and record cash flow from operations of USD 1.5 billion. These results continue to display the power of our highly diversified, value-added, circular manufacturing model – as the strength in our steel fabrication operations meaningfully offset lower earnings in our flat rolled steel businesses, with realized flat rolled steel selling values declining almost 15% during the quarter. We achieved record quarterly steel shipments of 3.2 million tons, as a result of steady steel demand, led by the construction industry, and complemented by the automotive, industrial, and energy sectors.”

For the nine months ended September 30, 2022, net income was USD 3.2 billion with net sales of USD 17.4 billion, as compared to net income of USD 2.1 billion with net sales of USD 13.1 billion for the same prior year period.

Operations continue to ramp up at our Sinton Flat Roll Steel Division. The product surface quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. The Sinton team has been running at a rate of 65 percent during October and achieving rates of over 80 percent for several single day periods, supporting our expectations to achieve a run rate of at least 80 percent for the full year 2023. In addition, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume® coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations.

Outlook “Despite weaker flat rolled steel pricing, our order activity and backlogs remain solid. We believe North American steel consumption will remain steady, and that demand for lower-carbon, US produced steel products coupled with lower imports will support steel pricing.”

voda 20 oktober 2022 08:05

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Maharashtra Seamless Reports 49% YoY Surge in Sales in Jul-Sep’22

Strategic Research Institute
Published on :
20 Oct, 2022, 4:57 am

India’s leading seamless pipe maker Maharashtra Seamless has reported 49% YoY growth in total sales revenues for the July-September 2022 quarter on consolidated basis at INR 1,414 crore. For the September 2022 quarter, the steel pipes and tubes vertical of the company recorded sales growth of 15% YoY at INR 1,394 crore while the power segment saw marginally lower revenues at INR 169 crore. The Rigs business saw revenues more than double to INR 1,701 crore.

Consolidated Profit after tax for September 2022 quarter was up 92%. The operating profits from the steel pipes and tubes segment increased by 72% at INR 147.45 crore. While operating profits from the power business was flat, the Rigs business dipped into operating losses in the quarter.

Net margins came in at 12.5% YoY for Q2 of FY23 as compared to 9.7% in the year ago quarter.

voda 20 oktober 2022 08:05

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MMK’s Steel Production Shrinks by 12% YoY in Jan-Sep’22

Strategic Research Institute
Published on :
20 Oct, 2022, 4:58 am

Russian steel maker Magnitogorsk Iron & Steel Works announces that its hot metal output increased by 13.1% QoQ to 2.336 million tonne in July-September 2022 quarter, reflecting a partial recovery in demand for steel products in the Russian market and the completion of repairs at the blast furnace. Steel output decreased by 3.3% QoQ to 2.796 million tonne mainly due to lower steel production at the Turkish asset and unfavorable global market conditions. Sales of metal products across MMK Group grew by 17.4% QoQ to 2.773 million tonne on the back of a recovery in business activity in the Russian market and the sale of metal stocks accumulated in the 2nd quarter.

MMK said “The decrease in pig iron smelting by 15.2% YoY to 6.649 million tonne in 9 months of 2022 is due to lengthy overhauls in blast furnace production and deteriorating market conditions. The volume of steel production decreased by 11.7% YoY to 8.859 million tonne due to a slowdown in business activity in the main sales markets and existing export restrictions. Sales of steel products across MMK Group amounted to 8.018 million tonne down 10.8% YoY due to existing export restrictions, lengthy overhauls of rolling equipment at the beginning of the year, and a significant slowdown in global business activity.

voda 20 oktober 2022 08:08

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FCI Mega Plan to Build Silos to Booost HDG Steel Demand in India

Strategic Research Institute
Published on :
20 Oct, 2022, 5:00 am

Food Corporation of India plans to construct 11.1 million tonne capacity modern steel silos at 249 locations across 12 states under the hub & spoke model in public private partnership with total investment of nearly INR 9236 crores. These silos would be constructed in three phases over the next three-four years. In the first phase of Hub & Spoke model, silos of 3.5 million tonne capacity at 80 locations would be constructed by FCI. Out of this, 1 million tonne at 14 locations would be under DBFOT mode and 2.5 million at 66 locations under DBFOO mode.

FCI said “Tender under DBFOO mode is due to be opened on 31 October 2022 whereas tender for DBFOT mode already been has opened on 10 August 2022 & one project was awarded to a developer and for other projects, process is underway. These modern Silos with bulk handling facilities is a scientific way of storage of foodgrains and ensures better preservation of foodgrains.”

The proposed model of development is DBFOT (design, build, finance, operate and transfer) and DBFOO (design, build, finance, own and operate) wherein the private entities shall be responsible for construction and operation of these modern Silos for a pre-defined period. Through this Public Private Partnership (PPP) mode of DBFOT, the land is to be provided by FCI while under the DBFOO mode, the land is to be acquired by the private entities.

voda 20 oktober 2022 08:08

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H2 Green Steel Completes EUR 260 Million Equity Financing

Strategic Research Institute
Published on :
20 Oct, 2022, 5:01 am

Swedish clean steel start up H2 Green Steel has secured EUR 260 million in series B equity funding. The final close of the private placement adds EUR 70 million in new investments from investors such as Hitachi Energy, Kobe Steel and Kinnevik. The series B equity proceeds will primarily be used to develop the company’s large scale green steel plant in northern Sweden, where H2 Green Steel will produce steel with up to 95% lower emissions than traditional steelmaking.

The private placement round that was co-led by AMF, GIC and Schaeffler, alongside existing investor Altor, reaches EUR 260 million in its final close. In addition to already communicated investments by Hitachi Energy and Kobe Steel, the close of the round adds new shareholders Swedish investment company Kinnevik, and a climate-focused institutional investment fund.

In addition to financing, H2 Green Steel has reached several milestones at high speed, including a permissibility permit for its operations in Boden in July followed by steady progress in the construction of its steel plant. The company has pre-sold about 60 percent of its initial volumes to a range of European customers in a broad range of sectors.

voda 20 oktober 2022 08:09

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JSPL Signs MoU with Greenko for Renewable Energy for Angul Plant

Strategic Research Institute
Published on :
20 Oct, 2022, 5:03 am

Jindal Steel & Power has signed a MoU with Greenko Group to facilitate 1000 MW of Carbon-free energy for its steel-making operations at Angul in Odisha. India's leading energy transition company, Greenko will assist JSPL in the design of the comprehensive energy solution including the design & development of the associated RE capacity, identification of potential strategic investors for the RE capacity and making available energy storage capacity.

The proposed 1000 MW carbon-free energy is targeted to meet the existing and incremental power demand of JSP’s Angul facility. This is amongst the largest commitment by any Indian Industrial Group, particularly steel producers in India, to use clean energy in core industrial processes. Once completed, it will ensure the reduction of approximately 7 million tonnes of C02 annually.

As part of the proposed transaction, Greenko Group shall offer energy storage capacity from its Off Stream Closed Loop Pumped Storage Project under development in Madhya Pradesh and Rajasthan.

voda 20 oktober 2022 08:09

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Thyssenkrupp to Build Reversing Stand at Bochum for Electric Steel
Strategic Research Institute
Published on :
20 Oct, 2022, 5:05 am

German steel maker Thyssenkrupp Steel has laid foundation stone for a so-called double reversing stand at the Bochum site. This unit will make it possible to produce even thinner and higher-strength steels in the future, mainly for electric mobility applications. The investment amounts to about EUR 100 euros. The unit is scheduled to be completed by summer 2023 and the plant on Essener Strasse will be expanded into a center of excellence for electric mobility.

In the field of electric mobility, the trend is also towards ever thinner and highly silicized materials, which place increased demands on the cold rolling technology. The new double reversing stand will meet these demands and significantly enhance the site’s capabilities for non-grain-oriented electrical steel. With its back and forth (reversing) action, the mill stand will be able to roll particularly thin materials with excellent flatness and tightest thickness tolerances. This is particularly important for sheets used in electric motors and generators, for example for wind turbines, because it can minimize core losses.

Moreover, the new double reversing stand will strengthen the Bochum site's capabilities for ultra high-strength products for the automotive industry. Such steels are used, for example, in chassis and crash-relevant components and provide occupant protection. This investment will thus further enhance thyssenkrupp Steel's competencies in cost-efficient lightweighting for the automotive industry.

The new double reversing stand is only one of the major investments made within the scope of the Steel Strategy 20-30. In addition to this investment, for example an annealing and isolating line will be built, to be commissioned in 2024. Through these and other optimizations in the production network, quality improvements along the entire process chain at the Bochum site will allow the company to excel in ultra high-strength multiphase steels or in the optimized electrical steel grades of the future.

voda 20 oktober 2022 08:10

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World Steel Expects Chinese Steel Demand to Shrink by 4% in 2022

Strategic Research Institute
Published on :
20 Oct, 2022, 5:15 am

The World Steel Association in its latest Short Range Outlook for 2022 and 2023 said that steel demand in China has contracted by 6.6% YoY in the first eight months of 2022/. It said “The recovery of Chinese steel demand in late 2021 reversed in the second quarter of 2022 as repeated COVID lockdowns led to a drastic cooling of the Chinese economy. The slump in the property market has deepened, with investment in real estate slowing to its worst in 30 years. All major real estate market indicators are in negative territory, with floor space under construction contracting for the first time in its modern history. Despite the government’s efforts to boost the real estate market, a major turnaround is not expected since buyers’ confidence remains weak due to strict COVID measures and developer bankruptcies. Infrastructure investment is recovering owing to government measures, and will provide some support to steel demand in late 2022 and 2023. However, as long as the real estate sector remains depressed, it will be difficult for steel demand to rebound significantly.”

Worldsteel forecast that “For the whole year, steel demand is likely to fall by 4.0% with the low base effect of the second half of 2022. In 2023, new infrastructure projects and a mild recovery in the real estate market could prevent further contraction of steel demand. Steel demand in 2023 is expected to remain flat under the assumption that small new stimulus measures are to be introduced and lockdown measures will be largely removed in the later part of 2022. Significant downside risks exist if these assumptions are not met. The slowing global economy poses further downside risk for China.”

voda 20 oktober 2022 08:10

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Typhoon Hinnamnor Hits POSCO’s Profit in Jul-Sep’22 Quarter

Strategic Research Institute
Published on :
20 Oct, 2022, 5:17 am

South Korean steel maker POSCO Holdings operating profit dropped by 71% YoY in July-September 2022 quarter to KWR 900 billion (USD 633 million) as some of its steel-processing facilities remain shuttered after a typhoon. Sales rose 2.9% YoY to KWR 21.2 trillion. In early September, POSCO was forced to halt three blast furnaces at its steel mill and steel processing facilities in Pohang, about 370 kilometers southeast of Seoul, as Typhoon Hinnamnor pounded some of its facilities. The production of cold-rolled steel sheet and stainless steel was hardest hit by the powerful typhoon that killed more than 10 people, and left severe flooding and damage in its wake. The disruption was estimated to have cut POSCO’s steel sales volume by 14% to 7.7 million tonnes from a year earlier.

POSCO said “Operating losses stemming from the suspension of production at Pohang Steel Works and rising one-time costs were estimated to have slashed the operating profit by some KWR 440 billion.”

The outlook for the company remained murky as the steel mill is expected to return to normal operations in the first quarter of next year at the earliest. A global economic downturn with growing risks of a recession is also unlikely to help steel demand rebound anytime soon.

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