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German steel giant ThyssenKrupp to slash 11,000 jobs
ermany's largest steelmaker ThyssenKrupp has announced a plan to cut its current workforce by more than a third by the end of the decade.German industrial giant ThyssenKrupp Steel Europe on Monday announced a plan to shrink its workforce from the current 27,000 to... Read more
Iron Ore › Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Iron ore prices are forecast to maintain an average of $100/tonne in 2025 as China’s sluggish property sector continues to subdue demand, says BMI, a unit of Fitch Solutions.According to a report published Nov. 15, BMI analysts say they expect iron ore... Read more
Pig Iron,Grey Iron › US Grey Cast Iron Market Faces Sourcing Hurdles and Global Price Pressures, Leading to Market Stability
The Grey Cast Iron market in the United States is experiencing a subtle landscape of challenges and opportunities, with production levels and pricing strategies undergoing significant scrutiny. In the weeks ending November 15th and 22nd, Grey Cast Iron prices remained stable... Read more
Pig Iron › Global pig iron production increased by 8% m/m in October
Global pig iron production in October 2024 increased by 8% compared to the previous month to 118.3 million tons. Compared to October 2023, the figure increased by 2.5%. This is reported by Ukrmetalurgprom with reference to data from the WorldSteel Association.World pig... Read more
Steel,Brazil › Brazil - CBA moves to exit Alunorte with stake sale
Deal with the Glencore subsidiary includes a 3.03% minority share for R$236.8 millionCompanhia Brasileira de Alumínio (CBA) has entered into an agreement with a subsidiary of Glencore, the Swiss mining giant, to divest its stake in Alunorte, one of the... Read more
Germany,Steel › Germany increased steel production by 7.7% m/m in October
Pig iron production increased by 11.3% m/m, and rolled iron – by 7.4% m/mIn October 2024, German steelmakers increased steel production by 7.7% compared to the previous month to 3.22 million tons. Compared to October 2023, the figure increased by... Read more
Iron Ore,CSN,Itochu,Brazil › Itochu to buy 10.74% stake in Brazil's CSN's iron ore unit for $769 million
TOKYO : Japan's Itochu Corp said on Wednesday that it agreed with Brazil's steel company Companhia Siderúrgica Nacional (CSN) to buy a 10.74 per cent stake in CSN's iron ore unit CSN Mineracao (CM) from CSN for about 4.42 billion... Read more
Germany,Steel › Germany increased steel production by 3.9% m/m in September
Pig iron production fell by 7.6% m/m, and rolled iron production increased by 9.7% m/mIn September 2024, German steelmakers increased steel production by 3.9% compared to the previous month to 2.99 million tons. The figure increased by 4.3% compared to... Read more
Grey Iron,USA › USA - Grey Cast Iron Market Shows Stability in USA Amid Fluctuating Raw Material Prices in October
The Grey Cast Iron market in the United States demonstrated remarkable stability during October 2024, despite significant movements in underlying raw material prices. The market for Grey Cast Iron, a crucial material in steel mill operations and manufacturing, has been... Read more
Honda,Aluminum,Electric Vehicle › Megacasting and More: How Honda Will Reduce the Cost of Electric Vehicles
Who needs a gigapress when a megapress will do? Honda's smaller metalworking machine is at the heart of its EV plans.Gigapresses are all the rage for automakers looking to reduce cost and complexity by replacing hundreds of parts with a... Read more
