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Vietnam to probe violations of industry ministry in steel firm's project

Judges delivered the verdict for the wrongdoings taking place at the long-delayed expansion project of Thái Nguyên Iron and Steel JSC project during the trial that concluded on April 20, 2021. VNA/VNS
HANOI (Vietnam News/ANN): The Hanoi People’s Court on Tuesday (April 20) recommended investigating possible violations by the Ministry of Industry and Trade (MoIT) and considering starting criminal proceedings against several officials involved in a case related to wrongdoings at Thái Nguyên Iron and Steel JSC project (TISCO) if sufficient ground is found.
The trial panel said the MoIT made a number of decisions against the law, introduced and chose incapable units to carry out section C of the engineering, procurement and construction contract No.01, which was one of the main factors leading to the consequences of the case, including lost capitals and indefinitely delayed progress in the expansion of the major steel factory. ....

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Market Trend and Demand Soaring steel prices Will Affact the Price of Nano BN powder-integra927.com | Nanomaterials, Chemical Products, Bearings Industry, Self-assembling materials, Nano-diamond Powder articles and news.

What is supporting the rise in steel prices?
1. State-owned enterprises continued their recovery growth since the second half of last year, with stable and orderly production and operation, new highs in operating efficiency, and a good start in the first quarter. Net profit hit a record high over the same period in history.
2. The market demand is large, the supply and demand are small, and the depot speed is fast. In addition, the Tangshan environmental protection production limit makes many steel mills dare not increase production too much, which indirectly leads to an increase in steel prices, which leads to greater financial pressure on traders, and many traders lower The percentage of advance payment for steel prices. ....

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Will Sweden lead the way in hydrogen-powered steelmaking? | Business| Economy and finance news from a German perspective | DW

Will Sweden lead the way in hydrogen-powered steelmaking?
Boasting a sea port, an ore mine and lots of renewable energy, northern Sweden is an ideal location for producing hydrogen-powered steel. But there s no lack of challenges to tackle.
The mining town of Kiruna in northern Sweden has big plans
Lulea in northern Sweden is only about 100 kilometers (62 miles) away from the Arctic Circle. It has some 80,000 inhabitants, almost one-third of all people living in Norrbotten province.
In winter, you need icebreakers to access the port of Lulea. It s the second-biggest port on Sweden s eastern coast after Stockholm.
The port of Lulea predominantly handles coal, steel and ore iron. It s located on one end of the Scandinavian ore railroad track, with Narvik in Norway being on the on the opposite end. In between there s Lapland with its mining town Kiruna and an eponymous mine that is considered to be the world s most productive ore mine. In Lulea, steel is produced ....

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Ukraine says ArcelorMittal to invest $1 bln to cut pollution

By Reuters Staff
2 Min Read
KYIV, April 14 (Reuters) - ArcelorMittal will invest around $1 billion in upgrading its steel facilities in Ukraine to reduce pollution, Ukrainian President Volodymyr Zelenskiy was quoted as saying on Wednesday.
“As the largest foreign investor in Ukraine . the company will launch a ‘Steel Billion’ investment programme in our country, providing for an investment of almost one billion dollars in the eco-modernisation of steel production in Kryvyi Rih,” Zelenskiy’s press service quoted him as saying.
During a meeting with ArcelorMittal boss Lakshmi Mittal in Kyiv, Zelenskiy stressed the urgent need to complete the modernisation of sinter, blast furnace and coke facilities, which are the biggest polluters. ....

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Spotlight falls on two-partner firm that audited Gupta's empire

The multi-billion pound controversy overshadowing steel magnate s operations has embroiled his Wembley-based accountants
18 April 2021 • 12:35pm
The first-floor office of King & King is not far from Wembley Stadium, but enjoys better views of the block of public lavatories with which it shares a junction of the A479. The firm’s second base boasts a more salubrious address, above a make-up shop on Regent Street, yet remains a world away from the glass temples of finance occupied by accountancy’s Big Four.
Despite its modest appearances, King & King is at the centre of a multi-billion-pound controversy. As auditor to most of Sanjeev Gupta’s industrial empire, GFG Alliance in the UK, the firm signed off on balance sheets and income statements that are now being called into question by creditors following the collapse of Greensill Capital. ....

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