Since the beginning of this year, the iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued resolution no. 346 in April imposed, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set…
Brazilian steelmaker Gerdau has decided to postpone some of its capacity expansion investments expected for 2019 amid a weaker-than-expected local economy, while reporting year-on-year output growth for the second quarter. It has maintained, however, its 7.1 billion Reais ($1.79 billion) total capital expenditure plan through 2021. The company estimated 1.84 billion Reais of investments for…
PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made…
Dalian iron ore futures slumped to a two-month low on Monday, extending losses to an eighth session, amid worries of weak demand as China’s top steel-producing province of Hebei looks to tighten emission requirements. The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 delivery, dropped as much as 5.6% to 609.50…
Tough times teach you the most, says Deep Kalra, founder and CEO of MakeMyTrip. In an interview with Malini Goyal on the ups and downs in his startup journey, he says young entrepreneurs should think like marathoners. Edited excerpts: Travel is a discretionary spend segment. What signal is it sending on the state of the…
China’s finished steel exports decreased on a yearly basis in July 2019, as did exports in the January-July period. The country shipped 5.57 million tonnes of finished steel abroad in July, down 5.43% from 5.89 million tonnes a year earlier, according to preliminary Chinese customs data released on Thursday August 8. Last month’s exports were…
Mechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or…
Imports of Iron & Steel in the United Kingdom increased to 446.95 GBP Million in October from 406.23 GBP Million in September of 2017. Imports of Iron & Steel in the United Kingdom averaged 337.83 GBP Million from 2000 until 2017, reaching an all time high of 631.75 GBP Million in March of 2011 and…