Germany’s Salzgitter approves largest investment in low-carbon steelmaking
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Germany’s Salzgitter approves largest investment in low-carbon steelmaking

Published: 12 Aug 2022
Germany’s Salzgitter approves largest investment in low-carbon steelmaking

German steelmaker Salzgitter posted record-high earnings over January-June amid robust steel prices despite marginally lower output over the period, the company said Aug. 11. This also enabled Salzgitter to approve the largest investment — on low CO2 steelmaking — during its time as a public company. The company’s crude steel output fell 1.1% on the

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Steelmaker Thyssenkrupp cutting 2021-2022 capex by Eur200 million

Published: 12 Aug 2022
Steelmaker Thyssenkrupp cutting 2021-2022 capex by Eur200 million

German steelmaker Thyssenkrupp said Aug. 11 that its 2021-2022 fiscal year capex, estimated at Eur1.4 billion, will be reduced by Eur200 million from the prior year’s level due to uncertainty. In light of the increased uncertainties, and depending on business performance, further investments will be approved on a restrictive basis. Focus of the investments at

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EU metal-shipping crisis worsens after Rhine River water levels plummet

Published: 12 Aug 2022
EU metal-shipping crisis worsens after Rhine River water levels plummet

An alarming drop in water levels in Germany’s Rhine River and other key waterways in Europe has led to massively strained logistics in shipping commodities across Europe, driving up costs and exacerbating material supply, sources told Fastmarkets.The Rhine is one of Europe’s largest rivers, stretching from Switzerland in the south up to the Netherlands in

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EU, Turkey agree deadline for safeguard adjustment

Published: 12 Aug 2022
EU, Turkey agree deadline for safeguard adjustment

The EU and Turkey have agreed that 16 January 2023 is the deadline for the reasonable period of time for the EU to implement the recent WTO recommendation to adjust its steel safeguard measure. In May, the WTO’s Dispute Settlement Body recommended the EU should bring its definitive safeguard measure into conformity with the Agreement

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Polish transport congestion pushes up scrap prices

Published: 12 Aug 2022
Polish transport congestion pushes up scrap prices

Polish scrap prices are increasing by as much as €60-70/tonne ($61-72/t) in an on-month comparison, both for the domestic and export markets, market participants tell Kallanish. Prices are being driven up by the latest Turkish hikes, but they are also being inflated by heavy transport disruptions. Prices for trucks, railway, and sea transports are increasing

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