Cherepovets Iron and Steel Works has finished repairing its main machinery in the sheet-rolling shop No. 1. The repairmen were able to decrease work time by 8 hours. In particular, mills 1700 and 2800 have been repaired. The company was also able to prepare for a large-scale investment campaign of 2020. It will see modernized…
Kyrgyzstan has managed to increase receipts under a strategic agreement with Centerra Gold, head of Kyrgyzaltyn Almazbek Alimbekov announced at a press conference at the Government. According to him, as a result of long negotiations, the Kyrgyz Government has managed to conclude an agreement with Centerra Gold, increasing receipts to $150 million. “For example, under…
Government of Kyrgyzstan hopes that operation of Kumtor mine will be extended for 5-6 years. According to the head of Kyrgyzaltyn OJSC Almazbek Alimbekov, Centerra Gold has already allocated $24 million for exploration. “The work was carried out by local companies, so the money remained in the country. If the mine will operate for other…
In January-June DTEK decreased coal output compared to the first half of 2018. According to the company press-service, it mined 12.6 million tons of coal, down by 2.5%. Gas production dropped by 0.1%, to 817.4 million cubic meters. (Ukrainian metal)
The new owner of the Romanian integrated steel mill formerly known as ArcellorMittal Galati (or Sidex, before the privatisation), Liberty Steel, wants to invest EUR 200 million in its newly acquired plant, Economica.net informed quoting Bloomberg. Liberty Steel general manager Jon Bolton said that, over the next five years, the group plans to invest over…
Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Monday September 2, with nickel, tin and aluminum securing gains while the rest weakened marginally. The mixed moves come amid heightened risk aversion among investors due to trade uncertainty after the United States imposed a 15% tariff on $125…
Xinhua reported that China’s securities regulator has approved trading in stainless futures and styrene to provide enterprises with new risk management tools. The Shanghai Futures Exchange can carry out trading in stainless steel futures, and the contracts will be listed for trading on September 25. The Dalian Commodity Exchange can carry out styrene futures trading,…
Prices in most of the global markets for steel billet dropped sharply in the week ended Friday August 30 amid unfavorable market conditions – in particular, poor demand and falling scrap prices. China Weakening demand for billet continued to push Chinese domestic billet prices down, sources said. Re-rolling mills in Tangshan were expected to reduce…