Machine Industries

Removing steel safeguards leaves the industry at risk of collapse It is essential for the UK government to extend steel safeguards beyond their June 2021 expiry date, or we risk job losses and endangering this treasured British industry. British made steel is one of the pillars that built this great nation to what it is today, contributing £2 billion to the UK economy in 2020 alone. The British steel industry produces enough for 70% of the UK’s annual requirement of crude steel each year. With 96% of it used in construction and infrastructure recycled and used, over and over. Yet,...

New challenges in the scrap metal industry Anticipating this, Panizzolo Recycling Systems has gained concrete experience in the end-of-waste sector. It is no secret that global markets are rapidly moving towards an overwhelming demand for quality metals, in the wake of China’s National Sword policy, to treat scrap as products rather than waste. Companies already moving in this direction are benefitting from increased sales. In order not to get left behind, companies need to sharpen their weapons and target technological innovation. By updating and elevating the treatment phases, it will be possible to seize the opportunities of this change and...

This is how the steel industry is forging a path to net-zero The modern world is built from steel – 1.8 gigatons (Gt) were produced last year, 90% of all metal produced globally. From wind turbines to electric vehicles, steel will be an integral enabler of the energy transition. But steel production is a major source of greenhouse gas (GHG) emissions. Most steel is still made using coal to reduce iron ore, a process that emits roughly two metric tons of CO2 per ton of steel. The industry accounts for 7% of global GHG emissions from the energy system –...

Steel/Metal Industry: Iron Ore and Steel Prices Climb to Record Highs Iron ore prices have reached an all-time high, with China’s domestic steel product prices also soaring to record highs. Although the summer off-season is ahead, the uptrend in steel prices is likely to continue if relationship troubles between China and Australia linger and if China’s plans to cut steel production materialize. Iron ore price tops US$200/ton, a record high On May 10, China’s imported iron ore price from Australia jumped 8.7% d-d to a record-high US$228/ton (Fe61.5%, CFR). Iron ore prices have risen 44.0% this year and 33.5% this...

Steel sector to bounce back to robust growth in 2021 The construction sector, which includes both infrastructure and real estate, contributes about 62 per cent of the total steel demand. New Delhi: After a brief lull in 2020 pushed by the pandemic and the lockdown that affected all industries, the Indian steel industry is expected to bounce back to a robust growth phase in 2021. Steel is regarded as an essential commodity as it is the backbone of the manufacturing industry. Recovery in demand is already visible in the construction, automobile, and white goods segments. This is expected to continue in...