Steel News

Italy’s Fincantieri has signed a memorandum of understanding (MoU) with Aeronautical Service, a small and medium-sized enterprise specializing in aerospace solutions, to advance the use of carbon-based composite materials in naval shipbuilding.The agreement aims to introduce composite technologies across civil and military platforms, reducing reliance on steel and extending Fincantieri’s technological perimeter into high-performance and stealth applications.The companies plan to collaborate on developing a new high-speed Fast Patrol Boat (FPB) vessel…

Seaspan Vancouver Shipyards has signed a Memorandum of Understanding with Stigterstaal Canada and Algoma Steel Inc. to explore a strategic partnership aimed at reestablishing a domestic steel supply chain focused on bolstering and expanding shipbuilding in Canada.The memorandum provides a framework for the three companies to assess the feasibility of Algoma Steel supplying Class and non-Class steel to Seaspan through Stigterstaal, who will act as a commercial and logistical subcontractor.

The Indian government has extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting July, a government order said on Monday, dealing a blow to steelmakers who oppose restrictions on overseas purchases.India, the world's second-largest crude steel producer, will set country-specific import quotas and cap purchases at 1.4 million metric tons from July 1 to December 31, the order said.Reuters in February reported that India could extend curbs on low-ash met coke imports to encourage local steel mills to use domestic suppliers.

BERG Propulsion is offering the shipping industry its first opportunity to select propeller shafts made using the climate neutral GreenForge® production process.Three Louis Dreyfus Armateurs (LDA) ro-ro vessels due in service from 2026 to carry aircraft parts across the Atlantic are already set to take advantage of sustainable wind power, courtesy of their rotor sails, while their hybrid propulsion, power management and control technology is coming from BERG.In addition, BERG will supply propeller shafts made from recycled scrap steel…

Germany-based corrosion specialist Steelpaint is calling for urgent action to address the significant environmental impact of steel corrosion, warning that inadequate corrosion protection is contributing more to global CO2 emissions than the entire aviation industry. With the maritime industries consuming an estimated 100 million tonnes of steel annually, premature corrosion and subsequent steel renewal work is increasing carbon emissions dramatically, said Steelpaint’s Managing Director Klaus Müller.Steel production remains one of the most carbon-intensive industrial processes.

Germany-based protective coatings innovator Steelpaint GmbH is urging shipowners, shipyards, and port authorities with steel assets to prioritize surface preparation, advising that skimping on this critical step in the application process is leading to premature coating failures, costly repairs, and increased safety risks.The advisory follows a recent request to apply its single-component, moisture-cure Stelcatec to a steel structure that had not been properly prepared, with high…

India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data seen by Reuters.India imported 2.69 million metric tons of steel between April and July, and exported 1.57 million tons, the data showed.India, the world's second-biggest crude steel producer, became a net importer of the alloy in the fiscal year to March 31, 2024, and the trend has continued since then…

Following recent upward moves on domestic steel plate prices at nearly every major recycling destination, it was another week of firm pricing and a sub-continent market that is still on an aggressive footing for the most part.Demand remains rampant and capacity at yards remains open for any available tonnage (market or otherwise), leading to bidding wars on any of the marginal number of choice units hitting the recycling markets.L/Cs are of continuing concern across the sub-continent destinations…

Dalian iron ore rose on Friday and advanced nearly 6% this week as traders returned from New Year holidays feeling optimistic about potential demand recovery in top steel producer China.Iron ore's most-active May contract on China's Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day, its highest since Oct. 27.On the Singapore Exchange, the steelmaking ingredient's most-traded contract expiring by end-February climbed as much as 0.7% to $128.25 a tonne…

Japan's crude steel output is expected to rise 1.9% in the January-March quarter from a year earlier, helped by a recovery in manufacturing including shipbuilding and machinery, its Ministry of Economy, Trade and Industry (METI) said last week.This would mark the fourth straight quarterly increase and bring annual output for the financial year to March 31 to 97.07 million tonnes, up 17% from a year earlier when the COVID-19 pandemic pushed production to the lowest in about 50 years.METI estimated crude steel output at 24.15 million tonnes for the three-month period…

India's steel exports more than doubled between April and July to hit their highest level in at least six years, boosted by a surge of Chinese buying in defiance of tensions between Beijing and New Delhi.Traders said reduced prices had driven the purchases as Indian sellers sought to get rid of a surplus generated by the impact of COVID-19 on domestic demand and generate much-needed income.It was unclear whether the sales broke any trade rules, but the China Iron and Steel Association…