Magnitogorsk Iron and Steel Works (MMK) delivered more than 314,000 tonnes of steel products to the automotive industry in the first half of 2019, exceeding the previous year’s figure for the same period by 23%. The share of shipments to the automotive industry in the first six months of this year amounted to 7.5% of…
PAO Severstal, one of the world’s leading vertically integrated steel and mining companies, has established a new unit that will be focused on the development of digital businesses. The team will be headed by Sergey Khabarov, previously investment director at Genome Ventures, an innovative human capital development business. The new unit will be part of…
Ural Mining Metallurgical Company (UMMC), one of the top Russian producers of copper, zinc and other precious metals in Russia signs a debut EUR100m syndicated loan. Mandated Lead Arrangers, Bookrunners and Lenders are Raiffeisen Bank International AG, AO Raiffeisenbank, PJSC ROSBANK and SOCIETE GENERALE. Raiffeisen Bank International AG and AO Raiffeisenbank acted as documentation agent…
Dalian and Singapore iron ore futures rose on Monday, buoyed along with other Asian steel benchmarks as fresh moves by China’s central bank to prop up its slowing economy lifted the overall mood in financial markets. The most-traded iron ore contract on the Dalian Commodity Exchange, with January 2020 expiry, climbed as much as 2.2%…
By Neeraj Kaushal If millions of Indians simply went on vacations, visiting domestic tourist destinations, would that energise India’s slowing economy? Could the economy bounce back not because people were working harder, but because they decided to take a break from work and instead went on a ‘Char-Dham Yatra’? Believe it or not, the answer…
Ball Corporation announced an agreement to sell its tinplate steel aerosol packaging facilities in Garin and San Luis, Argentina, to Envases del Plata SA, an Argentinian metal packaging company. The transaction is expected to close later this year and we expect the business will continue to be operated consistent with its successful long-term performance. Post-close,…
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt’s Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the…
Hot rolled coil demand, in Denmark, is better than in many other European countries, but shows little sign of improvement. Swedish business activity is quite steady, having recovered from a downturn during the spring. Cheap Russian slab supplies put downward pressure on coil values, in Finland. Demand is healthy, in the Netherlands and market participants…
