World steel production and capacity overview – MEPS
Europe's updated anti-dumping measures against Chinese steel, the electrification of UK steel production and data on global stainless steel...
08/05/2024Europe’s updated anti-dumping measures against Chinese steel, the electrification of UK steel production and data on global stainless steel production are all reflected in the latest MEPS Global Outlook on World Production and Capacity.
Chinese steel producers now account for almost two-thirds of the global total production, producing 36.7 million tons. The country was also the only region to record an increase in production, with year-on-year growth of 12.6%.
Plant plants in Japan, Taiwan and India combined produced 6.9 million tonnes, up 7.2 % less. Production in Europe and the US was 5.9 million and 1.8 million tonnes respectively, down 6.2% and 9.6%.
Europe
Swedish steelmaker SSAB has confirmed its intention to build a new mini-mill in Luleå, Sweden.
The company will invest 4.5 billion euros in the project, which will include two EAFs with a total annual capacity of 2.5 million tons, as well as lines hot and cold rolling.
SSAB will close the blast furnaces operating in Luleå after the completion of the new steel plant in 2028.
By implementing the changes at Luleå, the company expects to save 2 billion euros, which would otherwise be required to maintain existing plants and equipment.
SSAB is also in the process of upgrading the cold rolling mill at its Hämeenlinna plant in Finland. The company’s decision in 2023 to convert its steel plant in Oxelåsund, Sweden, to fossil fuel-free production is also progressing as planned.
British Steel
British Steel has received planning permission to build an EAF at its site in Lakenby, Teesside.
The proposal, submitted by the company, part of the Chinese Jingye Group, included a 100-tonne EAF, ladle furnace and a vacuum degasser, as well as two continuous casting machines.
Salzgitter Flachstahl has awarded a contract to the Andritz technology group for the construction of a new pickling line.
Andritz push pickling lines can process strip thicknesses from 0.8 mm to 16 mm and widths from 600 mm up to 2100 mm. The new equipment is expected to be operational in mid-2025.
ArcelorMittal has agreed to acquire a 28.4% stake in French pipe manufacturer Vallourec.
The largest steelmaker Plant Europe will acquire shares from Vallourec’s current owner, Apollo Global Management, in a deal worth €950 million. The sale is expected to close later this year.
ArcelorMittal will use the acquisition to meet growing demand for hydrogen and geothermal pipelines.
Trade protection measures
The European Commission has decided to expand anti-dumping measures applied to imports of hot-dip galvanized steel coils of Chinese origin.
Upon completion of this review, tariff rates ranging from 17.2% to 27.9% will remain in force for the next five years . The Commission’s investigation concluded that harmful dumping would resume if the measures were to cease.
Acerinox
Acerinox’s first-quarter financial results showed a 25% decline in revenue for the stainless steel division compared to the same period last year.
During the reporting period, the stainless steel manufacturer generated revenue of 1.1 billion euros and EBITDA of 80 million euros. The company’s financial report said a strike at its plant in Cadiz, Spain, and current weak market conditions were factors in the decline in productivity.
During the reporting period, the company produced 440,000 tons of stainless steel, a 15% decrease. than last year.
Earlier this month, shareholders of US nickel-cobalt alloy specialist Haynes International voted to accept Acerinox’s $970 million bid to acquire Acerinox. The deal has already received approval from US antitrust authorities and is likely to be completed in the third quarter.
ArcelorMittal Poland
ArcelorMittal Poland intends to invest 9 million euros in modernization cold rolling mill at its Krakow plant to produce zinc-aluminum-magnesium coated sheets.
Work on the new equipment is expected to be completed at the end of 2025, with production likely to begin in early 2026 .
Zinc-aluminum-magnesium coating will provide
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