Iron ore, coking coal prices plunge

•Benchmark iron ore prices tumbled today amid renewed doubts about Chinese economic stimulus, while coking coal prices plunged on oversupply and government imposed import restrictions. •Dalian iron ore futures fell 4.6% at 638 yuan (slightly below $90/mt) and Shanghai rebar – the world's most traded steel contract – lost more than 3%. •The Australian export…

Russia: TMK attracts 14-billion rubles loan

Pipe Metal Company has concluded an agreement with Gazprombank on a loan of 14.09 billion rubles. The funds will be provided until March 21, 2025. TMK daughter companies – Sinarsky Pipe Works, Seversk Pipe Works and Taganrog Iron and Steel Works – acted as guarantors. The agreement with SinTZ was signed on September 18, while…

Russia: UGK to cooperate with Rosgeologia

Rosgeologia and the Managing Company UGK LLC have signed an agreement on cooperation in subsoil use. The document presupposes creation of joint ventures to carry out investment projects on prospecting, estimating and developing deposits in Russia and abroad. Moreover, the companies plan to cooperate in further prospecting of unused deposits in order to put them…

INTL STAINLESS STEEL CONF: Philippines less attractive for nickel ore investment than Indonesia – delegates

Chinese nickel consumers may be deterred from guaranteeing long-term ore supply by investing in Philippine ore production, delegates said during a panel discussion at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18. This is despite prevailing opinion that Philippine material is more easily refined and cost effective than…