24 January 2019

Latest Steel Market News

ThyssenKrupp plans to shift to hydrogen-based steel production

(Europe): ThyssenKrupp has announced a plan to shift its steel production process from coal to hydrogen by 2050, aiming to reduce emissions. The company would invest $22.7 billion to accomplish this goal in the next 30 years. Steel production accounts for one-third of total carbon emission from the Industrial sector in Germany.

 

EU to hit imports from the US with Tariffs

(Europe): European Union reiterates that it is ready to impose tariffs on $22.7 billion US Products in response to the threat of 25% duties on the EU’s cars and spare parts.

 

Residents force the US health department to idle Clairton steel plant

(North America): US Steel’s plant in Clairton is potentially causing sulphur dioxide pollution in surrounding areas. Residents requested the local health authorities to force US Steel to idle its plant until the pollution issue is fixed. The plant has started emitting high levels of sulphur dioxide since a fire incident last December.

 

Magna International to acquire transmission maker Getrag

(North America): Magna International, a leading manufacturer of automotive parts, announced to acquire leading transmission maker Getrag for $1.9 billion.

 

Jindal Stainless plans to integrate its units

(Asia Pacific): The Indian stainless steel producer, Jindal Stainless, is planning to integrate its Orisha and Hisar units. The commencement of the consolidation is expected by March 2019.

 

Protolabs adds two more 3D printing materials to its portfolio

(North America): Protolabs, a Minnesota based digital manufacturing service provider, is expanding its 3D metal printing capacity by adding Inconel and maraging steel to its services. The company has already been using 316 stainless steel, aluminium and titanium as Direct Metal Laser Sintering (DMLS) materials.