Steel coil rolling mill Salzgitter Flachstahl, part of German steel group Salzgitter, has signed a memorandum of understanding with Canada’s Baffinland Iron Mines Corporation to investigate the use of direct shipping ore mined in Nunavut, the northernmost territory of Canada, in low carbon steel production, Salzgitter said Feb. 6. Baffinland’s operation is different to many
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German steel traders and producers expected prices to trend lower over February, according to data from S&P Global Commodity Insights’ monthly steel sentiment survey. The February index for traders’ sentiment stood around 50 points compared to almost 78.50 points in January. The index for producers’ sentiment was around 58 points, compared to a January index
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The launch of the 5G network for industrial uses in France is helping ArcelorMittal carry out digitisation and robotisation at its French production sites. The company started its 5G Steel project in 2021 in France in partnership with Orange Business Services and Ericsson, and supported by the French government. 5G Steel has now become fully
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EU steel imports dropped 17% on-year in the third quarter of 2022, led by a 15% slump in flat product intake, although longs imports inched up 1%, steelmakers’ association Eurofer points out. Finished steel exports fell 9%, driven by a 15% decline in longs shipments, Kallanish notes. In the 11 months through November 2022, finished
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Russia’s military invasion of Ukraine has triggered a lot of issues globally and, particularly, effected the energy balances in several regions, given that Russia had been one of the world’s major hydrocarbon exporters. Particularly, in 2022 the energy crisis hit EU countries and their steel sectors, and affected the costs, production rates, competitiveness and margins
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