NEW DELHI: Market veteran Raamdeo Agrawal said the biggest defaulter in India is none other than the government itself. He said half of the problems the domestic economy is facing will get resolved, once the government starts clearing dues on time. “Even if the government starts paying at least 30-day bill in 30 days, one-third…
The Abu Dhabi National Oil Company announced the award of multi-billion-dollar contracts for the procurement of casing and tubing. The combined scope of the three contracts awarded is one of the world’s largest in this category. The contracts, which were awarded to Consolidated Suppliers Establishment, representing Tenaris SA; Abu Dhabi Oilfield Services Company, representing Vallourec…
Here are five Fastmarkets MB stories you might have missed on Tuesday August 20 that are worth another look. Cobalt prices have risen by more than 25% since Glencore announced it would close its Mutanda mine and – in doing so – brought forward expectations of a shortfall in cobalt supply. Namibia-based tin mining company…
US flat product steel prices have been in a steady state of decline since the mid-part of 2018. A gradual uptick in domestic capacity utilisation was a contributory factor to the price erosion. Imported volumes remain an influence, despite the protection of Section 232 measures. According to MEPS’ research, in July, the majority of US…
NLMK Group, a global steel company, has embarked on the assembly of main process equipment to implement the stamp charging technology at its operating coke oven battery at Altai-Koks, a leading Russian manufacturer of metallurgical coke. Instead of the conventional top charging method, stamped charging involves feeding compacted coal briquettes into the oven horizontally. Stamping…
Metalloinvest has commissioned a new reduction and calibration section for Rolling Mill 350’s mid-size production line at Rolling Unit #2 at OEMK (part of the Metalloinvest). Investment in the project totalled more than 600 mn roubles. The modernisation will enable the Company to increase production of high-quality rolled steel by 67,000 tonnes per year. The…
RUSAL (stock code at the Hong Kong Stock Exchange: 486, at the Moscow Exchange: RUAL), one of the world’s largest aluminium producers, and Tiocomposite signed a memorandum of intent to set test production of sulphur polymer concrete using alumina production waste in the Republic of Tatarstan, Russia. The details of the economic and organisational conditions…
BlueScope's plans to boost production at its United States mill shouldn't have any effect on the amount of Port Kembla-made steel exported to that country. During Monday's announcement of a $1.015 billion full-year profit, BlueScope CEO Mark Vassella announced plans to expand the capacity of its North Star steel mill in Ohio – on the…