India Ratings and Research has revised its outlook on the steel sector to stable-to-negative from stable for the remainder of FY20 given sluggish steel demand growth expectations owing to mix of structural and cyclical concerns in end-user sectors, primarily auto and real estate construction. Hence, Ind-Ra has revised downwards its FY20 steel demand growth expectations…
German steel giant Thyssenkrupp AG will have to leave Germany's benchmark DAX index on September 23, the Deutsche Boerse announced on Wednesday evening. Thyssenkrupp will be replaced by German aircraft engine manufacturer MTU Aero Engines AG, the Deutsche Boerse said. After its exit from the DAX, Thyssenkrupp will be included in the MDAX index, the…
Trading activity in China’s domestic rebar market picked up on Thursday September 5 due to an open arbitrage window between physical and futures prices. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($510-514) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,640-3,660 yuan per tonne, up 30-40 yuan per tonne A gap of about 200…
In January-July Ferrexpo exported 5.995 million tons of iron ore pellets. In particular, Poltava GOK exported 5.267 million tons and Yeristovo GOK – 728 thousand tons. At the same time Metinvest (Russia) exported 3.762 million tons of pellets (Mikhailovsky GOK – 3.144 million tons and Lebedinsky GOK – 618.5 million tons). Metinvest exported 2.952 million…
In August Russian Railroads transported 109 million tons of cargo (108 million tons in July), up by 0.2% YoY. In January-August throughput dropped by 1.1%, to 850.5 million tons. Iron and manganese ores accounted for 79.6 million tons, up by 2.9%. RZD also transported 50.1 million tons of ferrous metals, down by 4.6%, and 10…
Severstal-Metiz has confirmed the correspondence of its quality management system to the IATF 16949:2016 and ISO 9001:2015 standards. The IATF 16949:2016 certificate confirms that the company quality management system corresponds to the requirements of the car industry enterprises. It allows the company to continue supplying to the largest car manufacturers. The certificate is valid till…
Rusal is preparing to transfer a part of its central office employees from Moscow to Krasnoyarsk. In 2019-2020 over 300 employees will be relocated. Krasnoyarsk region hosts Rusal’s largest assets – Krasnoyarsk and Boguchanskiy Aluminum Plants, Achinsk Alumina Plant as well as plants to produce car discs. The relocation of the central office employees to…
At the Eastern Economic Forum in Vladikavkaz the autoclaves Nos. 3 and 4 of Pokrovsky Autoclave-Hydrometallurgical Plant have been put into operation. The plant has been operating in trial mode since December 2018. Since then more than 2 tons of gold have been produced of refractory ores of the Malomyr deposit. In July processing of…