Tata Steel says the 75,000 tonnes of coking coal received from Russia in May was contracted weeks before its 20 April announcement that it was cutting business ties with Russia after its Ukraine invasion. “We confirm that the said deal was made before the announcement,” Tata Steel informs Kallanish. “Please note that Tata Steel has
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CIS crude steel production decreased in May, according to the latest worldsteel data monitored by Kallanish. Regional output amounted to an estimated 7.4 million tonnes, down by 19% year-on-year. During the first five months of 2022, crude steel production was 38.4mt, down 13.1% on January-May 2021. Russian production in May is estimated to have been
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The UK government has decided to extend safeguard quotas for a further two years to end-June 2024 on the five categories of steel products on which they are set to lapse next week, Kallanish notes. The decision has been lauded by UK Steel, whose director general, Gareth Stace, says the move “will guard against anticipated
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Italian steelmaker Acciaierie d’Italia, the joint venture between ArcelorMittal and state-owned Invitalia, has idled two galvanizing lines due to deteriorating demand for coil in Italy and Europe, sources tell Kallanish. The company declined to comment. However, deadlock and falling prices are persisting in the Italian coil market. This is forecast to continue through the summer,
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Italian equipment maker Fimi Machinery tells Kallanish it has full order books until 2025 and the current economic and geopolitical crisis is not affecting mills’ investments for the moment. This year started with significant technology supply requests from large international steel producers. The company says it is investing to gain market share in the US
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