Buying activity softened further in the export markets for hot-rolled coil and cold-rolled coil (HRC, CRC) from the Commonwealth of Independent States during the week ended Monday September 16, because prices have been falling too fast. Fastmarkets’ price assessment for steel HRC, export, fob Black Sea, CIS, was $420-435 per tonne on September 16, down…
A 3 member bench of National Company Law Appellate Tribunal directed that it will hear Central Bureau of Investigation, Enforcement Directorate and Ministry of Corporate Affairs Serious Fraud Investigating Office regarding JSW Steel’s plea seeking immunity from prosecution after buyout of Bhushan Power and Steel, which is facing money-laundering allegations on 14 October. It said…
Magnitogorsk Iron and Steel Works’ (MMK) representatives took part in the Second Congress of the Russian Steel Association on labour protection, industrial and environment safety held in Stary Oskol. MMK invests around RUB 2.5 billion in occupational safety every year. The event was held on 10-11 September on the site of the Oskol Electrometallurgical Plant…
China’s domestic rebar prices held steady on Tuesday September 17 amid falling futures and an inactive market. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($526-530) per tonne, unchanged Northern China (Beijing): 3,640-3,670 yuan per tonne, unchanged Sellers kept their prices flat to wait for more changes in the futures market, sources said. Market participants did not…
Metinvest B.V. has purchased 49.37% of Dneprovsky By-Product Coke Plant shares for $11 million. The official purchase took place in August. The coke output capacity of the plant is some 700 thousand tons per year. In January Metinvest bought 23.71% of Yzhkoks for $30 million. Dneprovsky By-Product Coke Plant received 373.62 thousand UAH of net…
In January-August Ukrainian seaports exported 16.3 million tons of iron ore raw materials, up by 36.9% YoY. In particular, the port Pivdenniy increased exports by 46.3%, to 16.1 million tons, and port Chernomorsk – 10-fold, to 181.2 thousand tons. In August export prices dropped by 20-25%, to $88-93 per ton, and exports – by 20.8%…
In January-June wholesale of metal grew by 17.3% YoY, to 2.7 million tons, valued at 48.9 billion UAH, up by 10.3%. The growth is due to the changes in the trade, including exports, as the domestic market does not show such rates. Rolled metal consumption dropped by 5.17%, to 1.97 million tons. (Ukrainian metal)
Property of a major non-ferrous metals scrap processor Vtormet Industrial Company LLC has been put up for sale with the initial price of 2.5 billion rubles. All the property (11 automobiles, manufacturing machinery, secondary raw materials, scrap and wastes) are auctioned as a single lot. The debt of 387 million rubles is also included in…