Category: steelmakers

Chinese Steelmakers Report Crippling Losses From Weak Demand

July 10, 2022
Business & MarketsChinaChina Business & Economychina's property marketcommoditieseconomyexcavatorsInvestmentmachineryMarketssteel millssteelmakerszero-covid policy
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Chinese steelmakers have reported significant losses from weak demand and low prices. Data released on June 28 showed that only 15 percent of Chinese steel mills remain profitable, a 27 percent drop from the first quarter and a 59 percent plunge compared to the same period last year. According to China’s National Bureau of Statistics,…

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UK’s Johnson Says He Wants to Protect Steelmakers From Energy Costs

June 26, 2022
Boris JohnsonBusiness & MarketssteelmakersUKWorld
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SCHLOSS ELMAU, Germany—British Prime Minister Boris Johnson said on Sunday it was reasonable to consider ways of protecting British steelmakers against surging energy costs which are less of a problem for their competitors from other countries. “We have a system in the UK where we don’t privilege our industry in the way that some other…

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Britain’s Steelmakers Scorched by White-Hot Power Prices

April 23, 2022
Business & EconomyeconomyinflationsteelmakersUKWorld
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CHESTERFIELD, England—Steel boss James Brand raises his voice above the roar of metal being funnelled into a foundry furnace as he details how rampant costs have pushed him to raise his prices by 70 percent. Yet he says that, despite this hefty hike, his customers in sectors including oil and gas, autos, and construction are…

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