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steelmaker

Salzgitter says steel demand, sentiment, has improved markedly

Salzgitter says steel demand, sentiment, has improved markedly

Published 24 Feb, 2021 08:15pm
  • "Sentiment has improved considerably," Heinz Joerg Fuhrmann, who will step down at the end of June after 10 years at the helm, told journalists late on Tuesday. "Demand has stabilised significantly."
  • Salzgitter, which competes with larger peer Thyssenkrupp in Germany, recently raised its outlook for 2021 and expects pre-tax profit of 150 million to 200 million euros ($182-$243 million).
Nippon Steel to shut Kashima blast furnace, Nikkei reports

Nippon Steel to shut Kashima blast furnace, Nikkei reports

Published 18 Feb, 2021 07:07pm
  • Along with other planned shutdowns, Nippon Steel's domestic production capacity will fall by about 20% when the Kashima furnace is shut, the Nikkei said.
  • The world's third-largest steelmaker said in February last year that it would permanently shut nearly 10% of its production capacity because of falling demand at home and competition from China.
South Korea POSCO's 2020 profit falls 38pc on-year due to sluggish steel demand

South Korea POSCO's 2020 profit falls 38pc on-year due to sluggish steel demand

Published 28 Jan, 2021 06:30pm
  • The world's fifth-biggest steelmaker released its full-year 2020 numbers in a filing, without giving a breakdown of its October-December figures.
  • The steelmaker's fourth-quarter consolidated profit was 863 billion won ($969.66 trillion) versus an average estimate for an 850 billion won profit from 15 analysts
Shagang Group to consider bringing in strategic investors to Global Switch

Shagang Group to consider bringing in strategic investors to Global Switch

Published 06 Jan, 2021 05:24pm
  • Jiangsu Shagang Group, the listed arm of Shagang Group, said in an announcement via an interactive platform run by the Shenzhen Stock Exchange on Wednesday.
  • Besides being involved in the company's reorganisation, our controlling shareholder Shagang Group currently has no plans to sell (its) entire stake in Global Switch.
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