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Steel giant ArcelorMittal forced to shut down two massive German steel facilities due to energy crisis

November 02, 2022 -

The steel giant stopped operations at one of its largest steel plants in the German city of Hamburg in September before shutting down a blast furnace at its Bremen facility in October. The shutdowns sent shockwaves throughout the German steel industry.

ArcelorMittal Germany CEO Reiner Blaschek lamented that the company can no longer keep up with high energy prices, adding that "production in Germany is currently no longer competitive."

"With a tenfold ...

World’s largest steel manufacturer to shutter plants in Germany amid catastrophic energy crisis

October 27, 2022 -

Reiner Blaschek, CEO of ArcelorMittal Germany, the world's largest steel manufacturer, would know. He told the media recently that his own company is having to trim down operations due to exorbitant energy costs that show no signs of relenting.

ArcelorMittal operates plants all around the world, but in Germany its business is no longer able to compete due to the ongoing energy crisis. And many of the company's competitors are in the very same boat.

Two ...

Europe’s top steel plants CLOSE due to “exorbitant rise in energy prices”

September 07, 2022 -

In a statement, ArcelorMittal indicated that the two plants being "partially closed" are located in the German cities of Bremen and Hamburg. The one being idled is located in Asturias, Spain.

"Weak market demand and a negative economic outlook," the company says, drove the decision, as did "the exorbitant rise in energy prices" that is having a devastating impact on ArcelorMittal's "competitiveness in steel production."

The looming threat of ...

New “iron-air” battery stores electricity for days by RUSTING

July 28, 2021 -

Form Energy's battery consists of cells filled with small iron pellets. These iron pellets form into rust when exposed to air but revert back to iron when oxygen is removed. Meanwhile, the battery charges and discharges alongside the formation of iron to rust and back again. This process keeps energy stored in the battery for a longer period.

However, Form Energy notes that the batteries are too heavy for use in electric cars. The batteries can instead be used to store ...

As energy costs soar, steel production in Europe on verge of collapse which will have catastrophic ripple effects across global economy

September 28, 2022 -

In Sweden, for instance, energy costs have hit several major manufacturers, putting them on the verge of having to close down, especially the steel industry, which has been particularly hard hit by soaring natural gas expenditures, the Swedish publication Samnytt reported.

ReMix added:

Steel forging company Bharat Forge in Karlskoga has experienced a quadrupling of its electricity prices and now risks being forced to halt its operations. This is primarily due ...

Energy prices in Germany soar 1,000% as companies go bankrupt

September 18, 2022 -

Citing a "tenfold increase in gas and electricity prices," the German manufacturer says it simply does not make sense to continue producing toilet paper at these prices because it would not sell for a profit compared to cheaper toilet paper produced somewhere else where energy costs are more normal.

Shoe retailer Görtz is in the same boat, announcing closure due to low sales. Then we have automobile supplier Dr. Schneider, steel producer ArcelorMittal, and ...

FORCE MAJEURE: Massive global shutdowns are now under way for METALS SMELTING operations covering iron, copper, nickel, aluminum, zinc and STEEL

September 07, 2022 - arcelormittal-to-close-giant-ukrainian-steel-plant-as-war-worsens-NM0kDzPRORwGuerKVELG

Mar 04, 2022, Spain

MEGASA SIDERÚRGICA NARÓN

Steel Plant

Stop production

According to Europa Press, on March 4 Megasa halted production at its 700,000 mt/yrNaron steel plant near La Coruna, having already shifted much of its production to night shifts to avoid peak prices.

The company did not reply to messages seeking confirmation.

https://eurometal....

Form Energy CEO claims iron-air battery can “fully retire thermal assets like coal and natural gas”

July 27, 2021 -

Made from iron, one of the safest, cheapest and most abundant minerals on Earth, the battery can be used continuously over a multiday period and will enable a reliable, secure and fully renewable electric grid year-round.

Form Energy's battery can solve one of the most elusive problems facing renewable energy: cheaply storing large amounts of electricity to power grids when the sun isn't shining and wind isn't blowing.

"It's the kind of battery you need to fully ...

Wind power emits 75 percent less carbon than solar energy, according to new report

May 06, 2021 -

Green energy advocates have long espoused expanding the use of wind and solar to reduce carbon emissions. But though both of these renewables are green by themselves, capturing them requires machines that are carbon-intensive to make. In the case of wind, building and erecting wind turbines require a lot of materials, such as steel, concrete, fiberglass and copper, as well as exotic materials sourced from deep beneath the surface of Earth.

Producing these leaves a significant ...

Unemployment in Germany continues to increase, government data show

December 05, 2022 -

Figures from the BA showed that the number of unemployed Germans increased to 2.54 million in November after 17,000 people lost their jobs. The figures released on Nov. 30 also showed the country's unemployment rate increased to 5.6 percent – a slight increase from the 5.5 percent recorded in October. Analysts had not expected the figure to change from the previous month.

But according to the BA's Director for Regions Daniel Terzenbach, there is nothing to worry about....

Energy crisis forces Austria’s only domestic salt manufacturer to cut production by 20%

November 03, 2022 -

Salinen CEO Peter Untersperger noted that the salt mining company was already charging 12 percent more for salt before the company decided to cut production. He added that the company should have raised prices by at least 30 percent to cope with increased operating costs.

Untersperger noted that production in Salinen is already being gradually decreased, and the company will reach its goal of a 20 percent reduction in manufacturing by the end of the year.

"We ...

Europe is in a DEINDUSTRIALIZATION SPIRAL due to ongoing energy crisis

November 08, 2022 -

The energy crisis is forcing many of the continent's largest and most energy-intensive businesses to curb their energy usage. As a result of these energy caps, many corporations are shutting down factories, downsizing workplaces or relocating outside of the continent where energy is plentiful and EU regulations on energy usage can't reach them. One of the continent's biggest losses is German conglomerate BASF, the largest manufacturer of chemicals in the world. In response ...

Will the EU succeed in using hydrogen to decarbonize “heavy” industry?

February 14, 2022 -

EU companies testing hydrogen fuel

The steel, cement and petrochemical sectors have massive carbon footprints because they require extreme heat during production. Steel, for instance, contributes seven to nine percent of all direct emissions from fossil fuels while cement accounts for around eight percent.

As such, these sectors will play a big role in the EU's goal of reducing greenhouse gas emissions by 55 percent by 2030. This target, which members nations have agreed ...

Dirty bomb false flag event to IGNITE World War with Russia, but Europe and USA don’t have enough functioning INDUSTRY to win a war

October 24, 2022 -

In calls to Western leaders that included the United States, Britain, France, and Turkey, Russia’s defense minister said Ukraine is plotting a false flag “dirty bomb” attack. Russian Defense Minister Sergei Shoigu has started warning that Ukrainian forces are preparing a “provocation” with a radioactive device.

Once this radiological attack is initiated, it would of course provide a narrative to the dishonest western press to call for an escalated NATO attack on Russia....