The economic impact of rationalization proposals implemented at Magnitogorsk Iron and Steel Works (MMK) amounted to almost RUB 380 million in H1 2019 – a 40% increase year-on-year. During this time, innovators submitted a total of 3,150 proposals, of which more than 70% (2,210) were approved for implementation. These numbers indicate an increase in the…
With gold prices up at near six-year highs, markets remain nervous on Wednesday August 28 about just how much damage the United States-China trade war is doing and whether it will be reversible before it leads to a global recession. Most base metals prices have fallen to low levels and are failing to get any…
World crude steel production for the 64 countries reporting to the World Steel Association was 156.7 million tonnes in July 2019, a 1.7% increase compared to July 2018. China’s crude steel production for July 2019 was 85.2 million tonnes, an increase of 5.0% compared to July 2018. India produced 9.2 million tonnes of crude steel…
A summary of base metals premiums from across the globe for the week to Tuesday August 27. Please click… Source of information
The Edge Markets reported that dragged by lower selling prices, Southern Steel Bhd reported a net loss of RM34.85 million for the fourth quarter ended June 30, 2019, as compared with a net profit of RM35.21 million a year ago. This is the third consecutive quarterly net loss, resulting in a full year loss of…
Aluminium premiums were mostly stable globally during the week ended Tuesday August 27, with participants shifting their focus to longer-term contract negotiations. But the recovery recently seen for Rotterdam material was spreading throughout Europe. Rotterdam uptrend pushing European premiums up Main Japanese port (MJP) premium flat; focus goes to quarterly contracts Premium in United States’…
Bloomberg reported that world’s largest vanadium producer outside China Evraz Plc said steelmakers are boosting their use of vanadium again after it slumped as much as 75% this year. Alexander Erenburg, VP of Evraz, said “The current vanadium price of USD 30 to USD 40 per kilogram makes it optimal for steel alloying both in…
The Chinese ferro-silicon price continued to trend lower over the past week amid persistently weak domestic demand, while prices in Europe and the United States were steady in inactive spot markets. China’s domestic ferro-silicon price drops on weak demand, adequate supply Export price in China steady but vulnerable EU prices steady in quiet market US…
