International Steel Mills
China Raising Electric Rates for Outdated Mills
Written by Sandy Williams
January 4, 2017
Outdated steel mills in China will pay about 66.7 percent more per kilowatt for electricity as of January 1 this year.
The National Development and Reform Commission raised the rate on outdated steel companies that are scheduled to be phased out as part of the effort to reduce steel capacity and encourage supply side reform.
NDRC says others producers who do not meet capacity-cut goals will receive the same penalty. Local authorities are permitted to increase the rates even further to encourage compliance.
In 2004, the NDRC has implemented a three-tier pricing system for eight energy-intensive industries. Companies within the industry are categorized as “encouraged,” “restricted,” or “outdated” with pricing varying dependent on classification.
Sandy Williams
Read more from Sandy WilliamsLatest in International Steel Mills
Algoma VP of sales Brandow to retire
Canadian steelmaker Algoma has announced the retirement of its VP of sales Rory Brandow, effective Dec. 1.
CRU: Tata Steel To Cut Jobs in the Netherlands
Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]
ArcelorMittal Q3 Earnings Drop on Weak Demand
ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.
Gerdau’s North American Ops See Lower Shipments, But Outlook Positive
Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.
CRU: Grupo Simec Shuts Two Republic Steel Mills For Good
Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.