Key data from the pricing sessions in London and Shanghai in the week ended Friday August 30. China Key drivers The Chinese export silicon price moved up for the second consecutive week in response to tight supply in domestic market due to increased buying from Chinese secondary aluminum alloy producers who are ramping up production…
India’s Central Statistics Office released the gross domestic product numbers for April-June quarter, which showed that India’s GDP expanded 5% in last quarter, the slowest pace in six and half years, down from 8% in Q1 of 2018-19 and slowing from a 5.8% in the January-March quarter. India’s GDP growth averaged 7.7% from 2014 to…
China's moves to revive its infrastructure sector in response to slower domestic economic growth and rising trade tensions are widely expected to fuel a pick-up in steel demand from September and sustain it into 2020, but could also spur an increase in steel production that results in another winter of oversupply and short-term losses for…
Shanghai-bonded copper stocks fell to their lowest level since February 2016 at the end of August after a profitable import arbitrage between London and Shanghai boosted buying interest for bonded warrants last month. … Source of information
Mariupol Ilyich Iron and Steel Works has finished scheduled repair of the blast furnace No. 2. All the diagnostics and units restoration were carried out in 13 days. The blast furnace has already been commissioned. Metinvest provided 48 million UAH for the repair. (Ukrainian metal)
Metalloinvest is carrying out a large-scale project to modernize the Ural Steel cogeneration plant. The company plans to improve its energy efficiency by decreasing energy resources consumption, air pollution and maintenance costs. Under the project Ural Steel is constructing a complex with two boilers of medium pressure with the capacity of 220 tons of steam…
UGMK-OTsM has developed a new brand and registered the Kirrooff trademark for the copper roofing produced at the Kirov Non-Ferrous Metals Processing Works. As a result of modernization the company is now able to produce copper roofing corresponding to more expensive foreign analogues, but at a competitive price. Under a strategic development plan UGMK-OTsM has…
Energomashspetsstal has concluded a new agreement with SAIL RSP. This is the third agreement this year with Rourkela Steel Plant, a part of Steel Authority of India (SAIL). So far the company has ordered some 2 thousand tons of rolls. The new contract was signed in August. EMSS will have to produce 10 supporting rolls…