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voda 1 augustus 2022 07:45

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TYMLEZ Blockchain to Provide Origin Guarantee for Green Pig Iron

Strategic Research Institute
Published on :
1 Aug, 2.022, 6:40 am

Magnum Mining & Exploration has reported the award of a contract to TYMLEZ to produce a digital twin of the full production chain for the Nevada Iron pig iron plant, as the company progresses towards building the first fully verifiable and auditable green pig iron plant in the United States using leading edge technologies, such as the TYMLEZ blockchain platform. This digital twin will highlight our commitment to the production of true green net zero pig iron and demonstrates to existing investors, future investors and customers that Magnum is situated to lead in the production of fully transparent and auditable carbon neutral and potentially carbon negative pig iron.

The TYMLEZ platform will produce and mint investment grade Guarantee of Origin certificates for each tonne of iron ore produced. Each certificate will, importantly, contain the makeup of each tonne of Pig Iron, detailing the carbon metrics for each step of the supply chain from raw materials through to end product, all on an immutable blockchain platform. The TYMLEZ Platform will report the entire as real-time digital counterpart for pig iron production process including biomass harvesting, biochar production and transport, iron ore mining and beneficiation, and pig iron production via already proven Hlsmelt technology.

Sustainably produced, locally sourced biomass forestry & agricultural waste etc will be certified via internationally accredited carbon accounting regulations to have net-zero emissions of carbon dioxide when combusted as the biomass waste would have emitted carbon dioxide when burnt or composted. This certified biomass will be dried to remove moisture, ground and pyrolised to remove oils and gasses to produce a biochar comprising mostly solid carbon.

At the Buena Vista iron ore mine, iron ore will be delivered by a fleet of bio-diesel or battery powered mobile trucks and shovels to a Run of Mine stockpile and crushed. The crushed ore will be fed into a grinding mill and the iron will be magnetically separated to produce a concentrated iron ore. The biochar and iron pre concentrate will be delivered to the Magnum Hlsmelt pig iron plant where the iron ore will be reduced by the carbon in the biochar to produce high purity pig iron comprising 96% iron and 4% carbon. All carbon relative data along the production process will be captured by the TYMLEZ blockchain platform.

The data collected from the biochar, concentrate and pig iron production chains will be stored in a verified data repository, and along with the certified and guaranteed source of origin of the biomass, will form an immutable and auditable data trail that will be used to certify that the pig iron can been produced with net-zero carbon dioxide emissions. Each tonne of virtual pig iron will have a Guarantee of Origin Certificate that will show its carbon content from the entire production process.

Magnum Mining and Exploration Limited is listed on the Australian Securities Exchange. Magnum’s current focus is the Buena Vista Magnetite Project, located in Nevada in the United States. Magnum’s 100% owned Buena Vista Project has had in excess of AUD 34 million spent on progressing its development and approximately 3 million tonnes of DSO magnetite mined and exported historically. Magnum is now focused on updating the definitive feasibility study and looking at off-take arrangements for its product in order to unlock the significant value at Buena Vista.

Hlsmelt Corporation is a joint venture between CRA Limited & Midrex Corporation of USA to manage a Research and Development Facility at Kwinana in Australia within the boundaries of the decommissioned Australian Iron and Steel plant under lease arrangements from BHP. The proposed facility has an estimated capacity of 100,000 tonnes per annum and has been developed from the results of seven years of research at a small scale pilot plant 15,000 tonnes per annum in West Germany.

voda 1 augustus 2022 07:45

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Ilsenburger Grobblech & GRI Renewable Ink Green Steel Pact

Strategic Research Institute
Published on :
1 Aug, 2.022, 6:41 am

German steel maker Salzgitter AG’s subsidiary Ilsenburger Grobblech & GRI Renewable Industries have signed an innovative partnership agreement, expanding their long-standing cooperation to include the possible processing of low CO2 steel products in wind towers. The Salzgitter Group's partnership program offers companies the opportunity to secure a defined tonnage of green steel today as part of an economic commitment. In addition, both companies want to work together on the further development of steel grades.

GRI Renewable Industries is a leading manufacturer of wind turbines and an important customer of Ilsenburger Grobblech. Both companies strive for the highest standards of product quality and sustainable and low-CO2 production.

With the aim of massively reducing CO2 emissions in the steel industry, Salzgitter AG intends to gradually convert steel production to a hydrogen-based route as part of its SALCOS, Salzgitter Low CO2 Steelmaking program. In contrast to the previous process with blast furnaces, hydrogen and green electricity replace the carbon previously required for steel production. With this process, Salzgitter AG intends to gradually reduce CO2 emissions in steel production to less than 5% of the original emissions.

voda 1 augustus 2022 07:46

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India’s Steel Comsumption uo by 10% YoY in Apr-Jun’22 Quarter

Strategic Research Institute
Published on :
1 Aug, 2.022, 6:41 am

India’s Steel Ministry’s Joint Plant Committee’s provisional report says that India’s crude steel production in April-June 2022 was 30.980 million tonne up by 10.7% YoY, total finished steel production 28.889 million tonne up by 9.1% YoY & consumption 27.361 million tonne up by 9.5% YoY.

In total finished steel production: contribution of the non-alloy steel segment stood at 27.147 million tonne accounting for 94% share up by 9.4% YoY, while the rest was the contribution of the alloy steel segment including stainless steel.

In total finished steel production, non-flat products accounted for 54% share up by 12.3% YoY while the rest 46% was the share of flats up by 5.7% YoY.

voda 2 augustus 2022 06:41

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US Steel Production Capacity Utilization Drops in Week 30

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:33 am

American Iron & Steel Institute announced that in the week ending on 30 July 2022, US’s domestic raw steel production was 1.727 million net tons while the capability utilization rate was 78.4%. Production was 1.862 million net tons in the week ending 30 July 2021 while the capability utilization then was 84.4%. The current week production represents a 7.3% decrease from the same period in the previous year. Production for the week ending 30 July 2022 is down 1.5% from the previous week ending 23 July 2022 when production was 1.754 million net tons and the rate of capability utilization was 79.6%.

Southern: 728 KNT

Great Lakes: 562 KNT

Midwest: 207 KNT

North East: 166 KNT

Western: 64 KNT

Adjusted year-to-date production through 30 July 2022 was 52.747 million net tons, at a capability utilization rate of 80.2%. That is down 2.9% from the 54.347 million net tons during the same period last year, when the capability utilization rate was 80.1%.

voda 2 augustus 2022 06:42

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Metinvest’s Kametstal Modernizes Benzene Scrubber

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:33 am

Ukrainian steel maker Metinvest’s Kametstal has upgraded the equipment of the benzene-scrubber department of the shop for capturing coking chemical products. Kametstal said “Recovery of the equipment of the benzene-scrubber department is an important stage in the modernization program of the coke chemical division. The new equipment has a high throughput and productivity. Due to this, energy costs are significantly reduced, in particular in the consumption of electrical energy.”

All work on the dismantling of old equipment and installation of new equipment was carried out by specialists of the workshop for capturing chemical products of coking and the gas rescue service of the coke-chemical division of Kametstal. During the work, specialists replaced the nozzle in the benzene-scrubber, which performs the function of a mass-transfer process for capturing raw benzene from coke oven gas. This made it possible to significantly reduce the resistance of the main equipment to coke oven gas, improve the quality of benzene and reduce its losses.

After checking all systems and software, the workshop received the first commercial benzene. The product is used in the chemical industry for the production of paints, solutions, partly in pharmacology and also as an additive to fuel etc most of which is exported to European consumers.

voda 2 augustus 2022 06:43

0

SIJ Americas Expands with New Warehouse in Chicago

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:34 am

SIJ Slovenian Steel Group’s subsidiary SIJ Americas has acquired and established a new 35,000 square foot warehouse facility 25 miles southwest of Chicago. The warehouse is slated to be fully operational 1 August 2022 and will be stocking and supplying stainless and tool steel products for its US & Canada based distributor partners. In addition to greater material availability, SIJ Americas has also been able to expand our product range for stainless bar grades, which now include 440C, 420, and 17-4 rounds and flats.

As the North American distribution arm of the SIJ Group, SIJ Americas stocks forged plate and long products made at the SIJ Metal Ravne mill location and quarto plates made at the SIJ Acroni mill location. Products to be kept in stock at the mill depot warehouse include stainless round bars, stainless flat bars, stainless quarto plates, tool steel round bars and tool steel plates.

SIJ Americas is the North American distribution arm for SIJ Group, a leading producer of stainless and tool products. With its two mill locations in Slovenia, SIJ Metal Ravne and SIJ Acroni, delivering high quality plate and long products to its North American distributor partners. Headquartered in Red Bank in New Jersey, SIJ Americas also retains a mill depot warehouse in Romeoville, Illinois, just outside of Chicago.

SIJ Group is a leading European producer of 100% recycled stainless and tool steel products, serving a wide variety of industries including aerospace, automotive, power generation, mechanical engineering, chemical, oil & gas, and nuclear. SIJ Group consists of five divisions:

Steel Division (Includes SIJ Acroni and SIJ Metal Ravne steel mills in Slovenia)

Distribution & Processing Division (SIJ Americas, SIJ Distribution centers across the EU)

Manufacturing Division (Finished products such as industrial knives, rolls, drawn and peeled bars, tool plates, extrusion dies and additive manufactured components)

Scrap Division (Locations in Slovenia and South-Eastern Europe)

Headquarters (Based in Ljubljana, Slovenia)

voda 2 augustus 2022 06:43

0

Ship Recycling Taking Backseat as Fears Grow

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:34 am

World's leading cash buyer of ships for recycling GMS said that “Fears and concerns across the sub-continent recycling markets continue to grow as local currencies across all major ship-recycling destinations continue to worryingly depreciate by the day and some even tougher restrictions reportedly set in place on the opening of fresh Letters of Credit in Bangladesh this week, as the foreign currency crisis in the country deepens further. In fact, the currencies have been such a source of frustration for the ship recycling community that the US Dollar transactions are getting uncontrollably out of hand. The Pakistani Rupee has depreciated by a whopping 44% since the start of the year and shows few signs of stabilizing just yet. Bangladesh too has not escaped the forex collapse and remains in a perilous state. In fact, this week, the Bangladeshi government has applied to the IMF for a USD 4.5 Billion bailout, with the economic crisis continuing to eviscerate non-essential large dollar value international trade.”

GMS added “Moreover, on the Bangladeshi LC front, any LC over USD 3 million now has to be approved by the Central State Bank, this is down from the USD 5 million limit imposed just last week and illustrates just how grave the situation is locally. Inflation in Bangladesh too is the highest it has been for a decade at about 7.5% whilst the Bangladesh Taka has depreciated by about 11.5% in the year to date in further troubling signs.”

GMS also said “India, ironically, given its volatile steel plate prices, remains the strongest and most resilient economy, but it is hardly encouraging to see competing markets in such dire straits, with talks plaguing the region that a similar collapse as that seen recently in Sri Lanka could be a serious possibility for those under siege countries.”

GMS said “Finally, in Turkey, the situation is mirroring the Pakistani market, with weakening steel plate prices and a currency that seems doggedly intent on breaching TRY 18 at some point.”

GMS concluded “As such, ship recycling is taking a backseat to these far more prescient worries at the moment, with nearly no new sales at least troubling recyclers for the time being.”

GMS Price Assessment - India/Bangladesh/Pakistan – Week 30

Dry Bulk – USD 550-570 per LDT

Tankers - USD 560-580 per LDT

Containers - USD 570-590 per LDT

voda 2 augustus 2022 06:44

0

Acciaierie Bertoli Safau to Commission Grinding Balls Mill

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:35 am

Italian steel maker Acciaierie Bertoli Safau is ready to start operations at its new mill for the production of grinding balls for the mining sector. The new mill, capable of producing 150,000 tonnes per year of grinding bails, is installed at the Cargnacco plant in Udine Province of Italy. Acciaierie Bertoli Safau is conducting final tests, so the mill is expected to start commercial production and sales right after the August holidays.

Acciaierie Bertoli Safau has invested EUR 25 million in the construction of the grinding balls mill. The project is part of the EUR 400 million investment plans which is mainly focused on the reduction of C02 emissions and includes the construction of a new EAF based on the Danieli DigiMelter Al technology, which allows direct use of renewable energy in the furnace. Acciaierie Bertoli Safau also plans to invest EUR 200 million to build a new rolling mill to complement the existing 350,000 tonnes per year meltshop at the Sisak site in Croatia.

voda 2 augustus 2022 06:46

0

CSN’s NCF Acquires Hydro Power Producer CEEE-G

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:35 am

Brazilian steel maker Companhia Siderúrgica Nacional’s Companhia Florestal do Brasil is declared winner of an auction for the privatization of the energy producer & distributor of Brazils’ southern state of Rio Grande do Sul CEEE-G. The company was sold for BRL 928 million (USD 179 million), with a premium of 10.93% over the initial value stipulated in the public notice, with a fierce competition with another qualified bidder Companhia Energética de São Paulo. CSN said that “the acquisition has the objective of supporting its strategy of business expansion, via the acquisition of renewable energy, in the search of self-sufficiency in energy to strengthen its competitiveness.”

Companhia Florestal do Brasil will also pay BRL 1.943 billion, along 30 years, for the concession of the power plants owned by CEEE-G.

The privatization of the company began in January 2019, with the preparation of the necessary legislative proposals. In May of the same year, the Legislative Assembly approved the withdrawal of the mandatory plebiscite for the sale of the company and, in July, it authorized the privatization of the companies of the CEEE Group. CEEE-G has five hydroelectric plants, eight small hydroelectric plants and two hydroelectric generating plants with a granted power of 921 MW. Own generating units are grouped into two systems

Department of Installations of the Jacuí System

Department of Installations of the Salto System

The National Bank for Economic and Social Development BNDES was hired to prepare studies and model the privatization project.

CSN has entered recently in an agreement to buy the Chapeco energy company, the owner of the Quebra-Queixo hydroelectric power plant.

voda 2 augustus 2022 06:46

0

Brazilian Steel Exports to EU Surge YoY in H1 of 2022

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:36 am

Brazilian Steel Association Aço Brazil has revealed that Brazilian steel makers have increased steel exports to the EU countries to 0.909 million tonne, up by 710% YoY in January-June 2022 as compared to 0.121 million tonne in January-June 2021 as Russian invasion of Ukraine prevented both countries from supplying steel to the EU market.

Exports to Europe accounted for 13.4% of total Brazilian exports in January-June, compared to 2.2% in the same period in 2021, and mainly consisted of coated and uncoated flat steel products.

Supply restrictions caused by the Russian-Ukrainian war has also prompted Brazil to increase shipments to neighboring Latin American countries to 2.12 million tons in the second half of the year, up 66.7% from last year. This was followed by shipments to Asia of 0.175 million tonne up 3.1% YoY and shipments to Africa at 0.128 million tonnes up 594% YoY. The US remained the top consumer of Brazilian steel products, mostly slabs, at 3.24 million tonnes.

voda 2 augustus 2022 06:47

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China's Crude Stainless Steel Production Shrinks in H1 of 2022

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:36 am

China Special Steel Enterprises Association’s Stainless Steel Branch announced that China’s crude stainless steel output totaled around 16.35 million tonnes in January-June 2022, decreasing by 5.3% YoY. The apparent consumption of stainless steel during the given period was approximately 14 million tonnes, a decrease of 5.4% YoY.

During the period, China imported around 1.68 million tonnes of stainless steel, a YoY increase of 19.6%. Meanwhile, the exports of stainless steel totaled 2.42 million tonnes, up by 10.6% YoY.

voda 2 augustus 2022 06:49

0

Linde to Build ASU at Jindal Stainless Kalinganagar

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:37 am

Leading industrial gas supplier Linde India has inked a long-term agreement with Jindal Stainless to construct a 1,450 tonnes per day air separation unit to meet the latter's gas requirements at JSL’s plant at Kalinganagar in Odisha.

The new ASU will supply to JSL 1,450 tonnes per day of Oxygen, 1,800 tonnes per day of Nitrogen and 64 tonnes per day of Argon and will have additional capacity to cater to demand in the merchant market.

voda 2 augustus 2022 06:50

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Turkish Steel Scrap Imports Shrink in H1 of 2022

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:37 am

Turkish Statistical Institute TUIK data has revealed that Turkey’s steel scrap import volume decreased by 3% YoY to 12.5 million tonne in January-June 2022 while the value of these imports amounted to USD 6.4 billion up 19% YoY. EU maintained its number one position among suppliers of Turkey’s scrap imports with a 53% share, followed by the US with 19% and UK with 10% share.

January-June 2022

EU – 6.4 million tonne, down 11% YoY

US – 2.2 million tonne, up 26% YoY

UK – 1.1 million tonne, down 19% YoY

CIS – 0.8 million tonne, down 38% YoY

Others – 0.6 million tonne, up 43% YoY

voda 2 augustus 2022 06:50

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Acciaierie d’Italia to Idle One More BF at Taranto – Report

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:38 am

Media reports suggest that ArcelorMittal and state owned Invitalia’s joint venture Italian steelmaker Acciaierie d’Italia is considering idling a second blast furnace at its Taranto plant due to low cash flow, weak market demand, and high production costs. At present, Acciaierie d’Italia’s Taranto facility is working using BFs 1 and 4, one of which will be mothballed.

This comes after the steelmaker, formerly known as Ilva, already mothballed BF no 2 at the end of 2021 until the end of August amid the downturn in prices and demand in the global coil market. In October 2021, BFs no 1 and 4 were restarted. The latter was idled for about seven months and the company spent EUR 70 million on upgrade works.

In June, two galvanizing lines were also idled due to deteriorating demand for coil.

Acciaierie d'Italia recently announced that its production exceeded 4 million tonnes in 2021.

voda 2 augustus 2022 06:51

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ArcelorMittal Eisenhuttenstadt to Cut Production

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:38 am

Germany based ArcelorMittal Eisenhüttenstadt has applied for short-time work for August and September 2022 in order to adjust production to the weak demand resulting from the tense economic situation. From 1 August activities in selected areas of the steel manufacturer are to be reduced. Labor Director Mr Michael Bach said “We are currently seeing a sharp drop in demand for rolled products, which is why we can no longer fully utilize our facilities in the rolling mills and have to resort to short-time work here and in some cross-sectional areas. However, our liquid lines continue to operate normally as the demand for slabs is not restricted. We will carefully monitor further developments and react to new developments if necessary.”

ArcelorMittal Eisenhuttenstadt, formerly EKO Stahl, is a steelworks in Eisenhüttenstadt is Brandenburg in Germany. Eisenhüttenkombinat Ost was established by the East German government in the early 1950s, initially producing only pig iron. Now, in Eisenhüttenstadt, high-quality flat steel products are manufactured for customers in the automotive, household appliance and construction industries, primarily in Eastern and Central Europe, in the integrated steel works consisting of pig iron works, converter steel works, and hot and cold rolling mills. Eisenhuettenstadt plant is capable of producing 1.7 million tonnes per year of pig iron, about 3 million million tonnes per year of slabs & blooms, 2.1 million tonnes per year of HRC, 1.9 million tonnes per year of CRC and 0.940 million tonnes per year of coated products. In 2021, ArcelorMittal Eisenhüttenstadt produced 1.6 million tonnes of flat steel.

voda 2 augustus 2022 06:52

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Borusan Mannesmann’s Sales Revenues in H1 of 2022 Surges

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:39 am

Turkey’s leading steel pipe maker Borusan Mannesmann has reported that its sales was TRY 4.88 billion in April-June 2022 quarter up as compared to TRY 1.61 billion a year ago. Net income was TRY 277 million as compared to TRY 75 million a year ago. For the six months, sale was TRY 8.55 billion compared to TRY 2.89 billion a year ago. Net income was TRY 385 million compared to TRY 153 million a year ago.

In the first half this year, the company’s premium quality product sales were up by 8% YoY to 338,000 tonnes. In the same period, 66% of the company’s premium quality product sales were directed to export markets. The company's turnover from sales of high value-added pipes which includes special and spiral pipes accounted for 67% of the total premium quality product sales turnover, while its turnover from high value-added drilling pipe sales accounted for 32% of the total premium quality product sales turnover. In the given period, the company's turnover from value-added spirally-welded pipe sales amounted to 8% of the turnover from the total sales of premium quality pipes. Steel pipe sales for the automotive sector in the first half increased by 12% YoY

Borusan Mannesmann is the first industrial venture of the Borusan Group, one of Turkey's leading powers. It was founded as the company merged its activities with Salzgitter Mannesmann in 1998. With its 7 facilities in 3 continents and high sales volume, it is among the leading manufacturers in Europe and the world in the steel pipe industry.

voda 2 augustus 2022 06:58

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Sarralle Commissions 2 Ladle Refining Furnaces at Rungta Plant

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:39 am

Sarralle India has commissioned two 35 tonnes Ladle Refining Furnaces at Rungta Mines Chaliyama Plant in Jharkhand in India. The contract signed by Sarralle India with Rungta Mines encompassed the delivery of engineering, equipment manufacturing, erection on site, commissioning and start up. Sarralle India has manufactured entirely the equipment in its workshop at Uluberria, but also has conducted the erection and has executed the commissioning of them.

In 2021 alone, despite the pandemic constraints, 8 Ladle Refining Furnaces units left Sarralle India premises to support the production of Steel Legends such as Rungta Mines and Shyam Steel. The total number of Ladle Refining Furnaces a supplied by Sarralle India has climbed to 20 units, all between 20-150 tonnes.

Founded in 1965, Azpeitia Gipuzkoa headquartered Spanish technology provider Sarralle is leading provider of Design, Engineering, Manufacturing and Installation services to the Environment, Energy & Steel Works worldwide with presence in more than 9 countries.

voda 2 augustus 2022 06:58

0

CSN, Shell & Itochu Sign MoU for Decarbonization

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:40 am

Brazilian steel makers Companhia Siderúrgica Nacional, Shell & Itochu Corporation have signed a Memorandum of Understanding for cooperation on decarbonization. Within the scope of this MoU, teams have been formed. They will proceed with investigations of potential projects, partnerships, and carbon reduction initiatives, in addition to defining areas of possible strategic long-term business collaboration to contribute to achieving its climate and environmental goals. The bond between CSN, Shell and Itochu, companies recognized for their commitment to bold decarbonization goals and actions, reinforces the thesis that collaborative action with the participation of agents from different sectors is one of the most effective tools for tackling climate change. The signed MoU aims to identify and evaluate opportunities in the different phases of our Decarbonization Journey, thus focusing on winning initiatives with real chances of impact.

Each of the companies will contribute their expertise related to this cooperation process.

Shell, for example, will share its knowledge and experience in global decarbonization and low carbon energy solutions, solution development, partnership structuring, pilots, co-investment opportunities and new commercialization models.

One of ITOCHU’s key roles will be to introduce potential partners that can provide decarbonization or energy solutions to other parties.

CSN will share its knowledge and experience, providing technical know-how, key indicators, priority challenges, and operational information needed in all business segments, with an initial focus on steel and mining.

In the project’s first phase, in addition to the roadmap and portfolio of existing initiatives, CSN will share areas of interest and pain points, and opportunities for synergy between the companies will be identified for the definition of workflows. Opportunities can be pursued in 1-2 years, medium term 2-8 years or long term over eight years.

voda 2 augustus 2022 06:59

0

NMDC’s Iron Ore Output & Sales Shrinks in July

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:40 am

India's state owned iron ore producer NMDC’s iron ore production dropped by 33% YoY to 2.05 million tonnes in July 2022 and sales declined 10% YoY to 2.95 million tonnes as weak demand prompted Indian steel makers to slow production.

Iron Ore Production – July 2022

Chhattisgarh - 1.12 million tonnes, down 46% YoY

Karnataka - 0.93 million tonnes, down 5% YoY

Iron Ore Sales– July 2022

Chhattisgarh - 1.38 million tonnes, down 40% YoY

Karnataka - 1.57 million tonnes, up 60% YoY

Iron Ore Production – April-July 2022

Chhattisgarh - 7.98 million tonnes, flat YoY

Karnataka - 2.99 million tonnes, down 24% YoY

Total - 10.97 million tonnes, down 8% YoY

Iron Ore Sales– April-July 2022

Chhattisgarh - 7.58 million tonnes, down 18% YoY

Karnataka - 3.04 million tonnes, down 16% YoY

Total - 10.62 million tonnes, down 17% YoY

NMDC aims to produce 46-47 million tonnes in 2022-23 as compared to 42 million tonne in 2021-22

NMDC is India's single largest iron ore producer. NMDC is operating four Iron Ore mechanized mines Bailadila Iron Ore Mines Kirandul Complex Dep-14, 14 NMZ, 11B & 11C, Bailadila Iron Ore Mine Bacheli Complex Dep-5,10 & 11A in the Chhattisgarh State, Donimalai Iron Ore Mine and Kumaraswamy Iron Ore Mine in the Karnataka State. Other than Iron Ore, NMDC is the only organized producer of diamond in India from its Majhgawan mine at Panna in Madhya Pradesh.

voda 2 augustus 2022 07:01

0

Mr Putin Emphasizes Need for Domestic Steel Demand Growth

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:41 am

Interfax Russia reported that Russian President Mr Vladimir Putin at a meeting on the development of the metallurgical industry said that ensuring domestic demand for steel products should be in the focus of attention of both companies in the sector and the government and regional heads. He told “We're not just talking about stable supplies of these goods to our market, but also about an increase in these supplies, about growth in demand, primarily by increasing the volume of construction of housing, industrial and commercial facilities, by implementing large-scale programs to develop infrastructure: railroads, bridges and overpasses, and other capital facilities.”

Mr Putin recalled that at a meeting in April, he gave instructions to approve a strategy for the development of the domestic steel industry through 2030, in which he asked that an emphasis be placed, in particular, on the active growth of domestic steel consumption, ensuring affordable prices for these products for business, large regional and federal projects with a powerful effect on target sectors of the economy. The president also noted that the issue of taxation of the industry was raised in the spring, and the government was instructed to jointly with business to clarify the export directions of Russian steel products in order to redirect the commodity flows to dynamically growing markets.

Russia’s Deputy Prime Minister and Minister of Industry & Trade Mr Denis Manturov said “Russian metallurgists are now operating with limited access to Western markets and exports in Q2 decreased by about 20%. There is also a considerable decline in domestic consumption. As a result, the sector's capacity utilization has decreased from an average of 93% to 80%. The situation is the most challenging at Magnitogorsk at 62% and Severstal at 72%. They produce mostly sheet products, for which demand has decreased the most.”

Mr Manturov also said “It's another matter that the export margin is not the same as it was a year ago. As the global economy slows, steel prices are falling sharply. In addition, in new markets for us, metallurgists are forced to find their niche and work at a discount. External supplies are unprofitable at the current ruble exchange rate. Given these factors, some ferrous metals producers were working at a loss in June-July.”

Vertraagd	11 mrt 2025 17:35
Koers	28,710
Verschil	-0,320 (-1,10%)
Hoog	29,400
Laag	28,460
Volume	4.377.535
Volume gemiddeld	3.033.879
Volume gisteren	4.429.592

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