The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday August 28, breaching the $16,000 per tonne resistance level in a bout of short covering, while tightness in the metal’s forward curve meant that it continued to trade at record levels. Some 8,000 lots of nickel changed…
Business Line reported that Tata Steel’s subsidiary Tata Metaliks Ltd is looking to double the production of ductile iron pipe to 400,000 tonnes per annum from the current 200,000 tonnes. The company is also installing a new 15-MW power plant. The estimated investment on the project is INR 620 crore. According to Mr Koushik Chatterjee,…
An overview of the noble alloys markets and their latest price moves. Source of information
PTI reported that Steel Authority of India Ltd has extended the deadline to submit bids for stake sale in its three assets to September 10, 2019. The date for submission of expression of interests for the three SAIL assets has been extended to September 10, 2019. No reasons were given for the extension of the…
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 28. Please click… Source of information
In January Baosteel Zhanjiang a subsidiary company of the Chinese corporation Baoshan Iron and Steel Co Ltd placed an order for a continuous slab caster with Primetals Technologies. The caster, CCM 3, will be set up in the Baosteel production site in Guangdong Province in South China, where Baosteel Zhanjiang already operates two slab casters…
Rebar prices in Russia’s major steel-consuming region, the Central Federal District, went down over the week ended Tuesday August 27 because of high supply volumes combined with falling demand. Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 37,000-38,000 roubles ($557-572) per tonne on Tuesday, down from…
ArcelorMittal Long Products Canada announced today that it is acquiring the assets of Legault Métal Inc, a metals recycling company with facilities in Trécesson, Val d’Or, Rouyn-Noranda and La Sarre, in Abitibi-Témiscamingue in Quebec in Canada. These sites, which will now operate under the name Legault Métal, a division of ArcelorMittal, will continue to deliver…
