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…
Montenegro’s transport firm Montecargo has struck a deal with HBIS Group Serbia the owner of the Smederevo steel mill that will see it ship 30,000 tonne of iron ore for the Chinese-owned company. Montecargo CEO Muradif Grbovic has said that “Transport of 120,000 t of ore for the company, which is backed by Chinese capital,…
Major Chinese steelmakers’ daily crude steel output rates were largely flat in mid-July compared with the previous period. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.02 million tpd during the second 10 days of July, up a mere 0.2 %… (Ukrainian metal)
PAO Severstal (the “Company”) one of the world’s leading vertically integrated steel and steel-related mining companies, announces that it has entered into a definitive agreement with Abinsk Electric Steel Works LTD for the sale of Mini-Mill Balakovo. The consideration of the transaction will be $215 million. The transaction is expected to complete in first half…