The proposed sale of British Steel to the Turkish Armed Forces Assistance Fund, Oyak, has triggered an alarm at the UK Parliament with the Commons defence committee chief calling for the industry to remain under British control, UK’s Daily Mail newspaper reported. Oyak was chosen above several other bidders including British-based Liberty, which already owns…
NEW DELHI: Billionaire metal tycoon Anil Agarwal-promoted Twin Star Technologies is learnt to have pulled out as a bidder for telecom assets of debt-ridden Reliance Communications due to unknown reason, a source privy to the development said on Thursday. Twin Star Technologies, a holding company under Agarwal’s Volcan Investments Ltd, had earlier shown interest in…
Reuters quoted two creditor (Ukrainian metal)
ArcelorMittal Brasil has decided to continue the idling of blast furnace No2 at its Tubarão plant, in the southeastern Brazilian state of Espírito Santo, at least until the end of this year because of the tough market conditions, chief executive officer Benjamin Baptista told Fastmarkets on Wednesday August 21. Work to refurbush the unit started…
The success of price hikes, by European steel producers, is muted. Mill profit margins are unsustainably low, as a result of rising input expenditure. Iron ore costs continue to soar, and those for coking coal remain at an elevated level. Moreover, European steelmakers are battling with increased outlay associated with CO2 emissions. The imperative for…
NLMK Group, a global steel company, is migrating its online marketplace https://nlmk.shop/ and customer service to SAP C/4HANA platform (formerly known as SAP Hybris), a part of SAP Customer Experience solutions portfolio, to enable prompt delivery of a wide range of steel products and a unique customer service offer. NLMK’s e-marketplace for SME’s https://nlmk.shop/ was…
Magnitogorsk Iron and Steel Works (MMK) delivered more than 314,000 tonnes of steel products to the automotive industry in the first half of 2019, exceeding the previous year’s figure for the same period by 23%. The share of shipments to the automotive industry in the first six months of this year amounted to 7.5% of…
PAO Severstal, one of the world’s leading vertically integrated steel and mining companies, has established a new unit that will be focused on the development of digital businesses. The team will be headed by Sergey Khabarov, previously investment director at Genome Ventures, an innovative human capital development business. The new unit will be part of…