Russian aluminum producer RUSAL plans to accept bids for at least 10 billion rubles of 10-year exchange bonds on September 5, a banking source reported. The first coupon guidance was set at 8.50-8.65%, which corresponded to an 8.68-8.84% yield to 3-year put. RUSAL Bratsk will be the issuer. Technical placement is preliminarily scheduled for September…
Vostochniy Mining and Processing Works has ordered Epiroc Ukraine LLC the delivery of an underground dump truck for 13.15 million UAH. Until April 2020 the Smolinskaya mine in Kirovograd region must receive a new underground dump truck MT2010 developed by Atlas Copco Rock Drills AB, Sweden and assembled by Epiroc Rock Drills AB, Sweden with…
Tata Steel on Monday announced the closure of a plant in the southern Welsh city of Newport, with a potential loss of around 400 jobs at the UK site. The steel giant announced that it had clinched the sale of a Canadian and Swedish plant as part of its worldwide Cogent Electrical Steels division but,…
Stainless steel futures will begin trading on the Shanghai Futures Exchange on September 25, the China Securities Regulatory Commission said last week. “The development of stainless steel futures will provide market participants with an open, transparent and constant price indication as well as a highly effective risk-management tool […] to promote the stable and healthy…
A nationwide strike from South Africa’s truck drivers will support prices for commodities based in the country, such as 37% manganese ore or UG2 chrome ore, but it would need to continue for more than a couple of weeks, market participants said. The strike began on September 2 in protest of the employment of foreign…
British Steel’s official receiver announced that TSP Projects, a wholly owned subsidiary of British Steel, which entered compulsory liquidation May 22, has been sold to rail transport engineering and consultancy firm SYSTRA Ltd. Based in York UK TSPP provides consultancy, design, engineering and on-site project management services. The sale of TSPP’s shares to SYSTRA Ltd,…
The global market for direct-reduced (DR) iron pellets was under pressure from falling prices for both steel scrap and finished steel products in August, sources told Fastmarkets last week. Fastmarkets lowered its iron ore DR-grade pellet premium, Middle East reference, to $62 per tonne on Friday August 30, from $65 per tonne on July 31.…
CNA reported that Taiwan has extended anti-dumping tariffs on steel makers from China and South Korea for another five years after an investigation found firms from those countries have sold their products at unfairly low prices in the Taiwan market, causing material damage to their Taiwanese counterparts. In an announcement posted by the Customs Administration…