MUMBAI: Synergy Group Corp, a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of the development. The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by…
Brazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed. The country exported 34.27 million tonnes of the steelmaking raw…
PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in…
An investment group owned by Turkey’s military pension fund is in last-minute talks about a takeover of British Steel in a deal that could save thousands of jobs. Ataer Holding, a wholly owned vehicle of Oyak, the state military retirement scheme, which is also the largest shareholder in Erdemir, the Turkish steel group, is in…
China’s Hebei Iron & Steel (HBIS) has failed to get approval from the Hebei government to purchase a majority stake in Tata Steel’s businesses in Thailand and Singapore. “HBIS have not been able to procure the requisite approvals from the Hebei government, one of the key conditions precedent for the proposed… (Ukrainian metal)
NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steelmaker, has published today its preliminary Q1 2019 operating results. Q1 2019 highlights: Steel output decreased by 4% qoq to 4.2 m t due to the overhauls at the Russian sites and seasonal factors. A 3% yoy steel output reduction is also due to the overhauls…
Since the beginning of this year, the iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued resolution no. 346 in April imposed, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set…
Brazilian steelmaker Gerdau has decided to postpone some of its capacity expansion investments expected for 2019 amid a weaker-than-expected local economy, while reporting year-on-year output growth for the second quarter. It has maintained, however, its 7.1 billion Reais ($1.79 billion) total capital expenditure plan through 2021. The company estimated 1.84 billion Reais of investments for…
