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A Total Investment of 20 Billion.Another steel project will be put into production
On June 8, Fujian Longgang held General Assembly May 2024 to ensure that the production deployment. On the meeting, general manager Wu Yuntian asked all staff to fight 38 days to ensure that the project is put into operation, ensure the safety and environmental protection ,accurately matching talent and position to ensure that the recruitment in place!Fujian Longgang covers an area of 5070 acres with a total investment of 20 billion yuan project planning and construction of three production lines, the first phase of the project will soon be put into operation,the end product for the hot rolled coil widely used in new energy automotive plates, wheel hubs, cold rolled substrate containers, ships, home appliances and other industries.Read more -
World Crude Steel Production 2024
On 6 June, the World Steel Association released World Steel Statistics 2024, which presents the overall development of the steel industry through key indicators such as steel production, apparent steel consumption, global steel trade, iron ore production and trade.The manual announced the top 50 global steel companies in terms of crude steel production in 2023. Among them, China Baowu Iron & Steel Group holds the top spot, ArcelorMittal is ranked second, and Anshan Iron & Steel Group is ranked third. More than half of the Chinese steel companies on the list are ranked as follows:Read more -
After Signing a Contract for 10 Billion, an 80 Million Ton Steel Plant Lands in Tangshan
On May 4th, Tangshan City Party Secretary Wu Weidong visited Qianxi County to conduct research and inspections on project construction and other work. He emphasized the need to accelerate the implementation of the signed cooperation agreement between China Oriental Group and ArcelorMittal Group, and to explore the development of a fusion development industrial park combining Jinxi Steel and ArcelorMittal Group.It is reported that on April 24th, the 70 ArcelorMittal New Energy Soft Magnetic Material Project was officially signed in Changzhou, with a project value of 10 billion yuan. As of the end of 2022, ArcelorMittal's crude steel production capacity was approximately 82.1 million tons.The new 80 million ton steel plant in Tangshan, which follows the 10 billion yuan contract, marks a significant milestone in the strategic partnership between China Oriental Group and ArcelorMittal Group. The joint venture, which will be located in Qianxi County, Tangshan, is expected to bring significaRead more -
India Tata Steel Invests up to $795 Million in Expansion of Capacity of Subsidiary NlNL
Tata Steel Limited, India's leading steel company, announced on March 29th its plans to invest approximately $795 million (equivalent to approximately 5.748 billion RMB) in its subsidiary, Neelachal Ispat Nigam Limited (NINL), for the expansion of its long steel products.NINL, acquired through the Indian government's disinvestment program in early 2022, is a producer of long steel products. Since acquiring this state-owned enterprise, Tata Steel's focus has been on revitalizing the facility and increasing its production capacity to 1.1 million tons per year. The company further stated its intentions to expand NINL's capacity by an additional 4 million tons per year in the next phase, ultimately reaching a production capacity of 5 million tons per year.Additionally, NINL boasts a 62-megawatt captive power plant and reserves of 90 million tons of iron ore. It is strategically located adjacent to another steel plant owned by Tata Steel in India, which is nearing completion of its expansioRead more -
Nucor signs agreement with Samarco for DRI pellet supply
Brazilian iron ore miner Samarco and North American steelmaker Nucor have signed a new five-year commercial agreement for the supply of iron ore direct reduction pellets.Nucor is the largest steel producer in the United States and the largest recycler of scrap in North America.According to Rodrigo Vilela, Samarco’s chief executive officer, the demand for pellets, especially direct reduction pellets, is on an upward trajectory driven by the decarbonization path as industries are increasingly turning to cleaner alternatives that emit fewer greenhouse gases during production.“The initiatives and actions taken to reduce CO2 emissions are a global reality, and Samarco has all the attributes to become a strategic supplier in terms of decarbonization and will accomplish this through joint developments with strategic customers such as Nucor. Samarco is also working to meet all such established goals until 2050.”Vilela also said that this new long-term agreement with Nucor comes in line with thRead more
