State industrial corporation Rostec plans to ask the government to work with metals companies which have increased prices by about 30% YoY, CEO Sergei Chemezov reported. “We have a really big problem with metals companies. They have lifted the prices very high, by almost 30%”, he said. “One should not raise prices this fast. I…
In October Russia imported 24.4 thousand tons of corrosion-resistant flat rolled steel, valued at $49 million, up by 8% MoM and by 38% YoY. 600+ mm wide sheet accounts for around 90% of the imports. Nickel contents in steel don’t exceed 2.5%. Some 28% of imports came from China. In October Chinese steel cost $1633…
Danieli & C. Officine Meccaniche S.p.A (Italy) and Baku Steel Company (Azerbaijan) have signed an agreement to invest 1.225 billion euro into the creation of the new iron and steel complex of 5 works. “Sumgait will see the construction of 5 works in 3 years”, the economy minister Shakhin Mustafayev said. The project will create…
Major Ukrainian ferroalloy companies (Nikopol and Zaporozhye Ferro Alloy Works), as well as Ordzhonikidze and Marganets Mining and Processing Works, all parts of the Privat Group, continue operating according to their manufacturing plans. Earlier due to the nationalization of PrivatBank the companies accounts were blocked. PrivatBank also managed Stakhanov Ferroalloys Plant, ZZF, MGOK and OGOK…
The Republic of Khakasia intends to start producing steel rope at the Abaz monocity. The project presupposes the creation of 2 lines to produce 3.5-35 mm diameter rope (GOST 2688-80, 7688-80, 3077-80). Siemens will supply the equipment. Steel rope production will start in 5 years. (Ukrainian metal)
Gomel-Raton Free Economic Zone (Gomel-Raton FEZ) hosted a new resident – KolosEuroTech, planning to manufacture high-precision metal products. KolosEuroTech is a Belarusian-Polish joint venture, intended to invest more than $1 million in high-precision metal production at Gomel-Raton FEZ. Gomel-Raton FEZ is now home to 81 resident companies. (Prime-TASS/Ukrainian metal)
In November prices of industrial manufacturers increased by 2.2% MoM. According to the State Statistics Service, in mining and quarrying price increase reached 4.4% MoM, including 10.5% in iron ore mining. Prices in processing industry went up by 1% MoM, in particular of coke – by 3.2%, in metal manufacture – by 2.2%. (Ukrainian metal)
The forecast for the Russian steel sector in 2017 is negative due to weak domestic demand, international rating agency Moody’s said in a research note. The outlook for the European steel sector is also negative due to risks of “price falls and profitability pressures on the back of competition from cheap imports”, the agency said.…