Coal News & Price Data – October 17, 2024
October 17, 2024
Coal News & Price Data – October 17, 2024
Category: Steel
Ukraine’s Steel Industry at Risk as Russian Forces Threaten Critical Coking Coal Supply
October 17, 2024
Russian troops now within 12 kilometers of the Pokrovske coal mine, the loss of which could deal a severe blow to Ukraine’s steel sector…
Baosteel, Other China Mills Announce Price Hikes for Nov Sales
October 14, 2024
Baoshan Iron & Steel (Baosteel), the main listed subsidiary of China’s largest steelmaker Baowu Steel Group, has announced price increases for most flat steel products in November…
ADI to Restart Taranto Blast Furnace in Italy Amid Ongoing Restructuring Efforts
October 14, 2024
Acciaierie d’Italia (ADI) is set to restart blast furnace no.1 at its Taranto steelworks on 15 October, marking a significant step in the company’s efforts to revive production…
Rising Coal Consumption in India’s Steel and Power Sectors
October 10, 2024
India’s increasing coal consumption is driving significant activity in both the steel production and power generation sectors…
India’s Finished Steel Exports Fall 40% Amid Weak EU Demand, Becomes Net Importer in 1H24
October 3, 2024
India’s finished steel exports fell sharply by 39.6% year-on-year over April-August, driven largely by declining demand from the European Union, according to data from the Joint Plant Committee. The total exports during this period amounted to 1.92 million metric tons (MMt), with the steepest declines seen in key EU markets…
Hurricane Helene’s Impact on U.S. Steel Demand, Supply, and Prices
October 3, 2024
The U.S. steel industry is grappling with the effects of Hurricane Helene, which hit the southern states from Florida to Tennessee late last week. The
Steel Prices Bottoming Out Amid Cautious Optimism for 2025
September 27, 2024
At the Siderweb Forum’s roundtable discussion titled “Steel in Italy and the World,” steel industry leaders expressed cautious optimism for a potential recovery in 2025, suggesting that current steel prices may have bottomed out after a prolonged downturn…
Tata Steel Commissions India’s Largest Blast Furnace, Expands Kalinganagar Capacity
September 23, 2024
Tata Steel achieved a significant milestone in its expansion efforts by commissioning a new blast furnace at its Kalinganagar plant in Odisha last week, boosting the facility’s capacity from 3 million tonnes (mt) to 8 mt annually…
US Proceeds with Section 301 Tariffs on Chinese Commodities
September 19, 2024
The United States is moving forward with Section 301 tariffs on a range of Chinese commodity imports, including steel, aluminum, lithium-ion batteries, and other critical minerals, as announced by the Office of the United States Trade Representative (USTR) on September 13, 2024…
India Steel Producer RINL Faces Challenges Amid Coking Coal Shortage at Vizag Plant
September 16, 2024
State-owned steelmaker Rashtriya Ispat Nigam Ltd. (RINL) has been forced to shut down its blast furnace 3 at the Vishakhapatnam (Vizag) plant due to a coking coal shortage caused by a workers’ protest at the Gangavaram port. The shutdown, which occurred on 12 September, leaves RINL with only one operational blast furnace out of three at its 7.3 million tonne per year (t/yr) capacity plant, though no official announcement has been made by the company…
India’s DRI Production Growth Outpaces Crude Steel, But Coal Reliance Remains
September 16, 2024
India’s production of direct reduced iron (DRI), also known as sponge iron, has seen substantial growth, registering a compound annual growth rate (CAGR) of 8 percent over the last five years. DRI output rose to 51.5 metric tonnes (MT) in fiscal 2024, up from 34.7 MT in fiscal 2019, significantly outpacing the 5 percent growth in crude steel production during the same period, according to a recent report…