Category Archives: Newnews

The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.

The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand. Chinese tariffs on US-made cars and auto parts were placed on…

Producers Attempt to Reverse Price Trend but Buyers Resist

Industrial activity and steel consumption are stronger, generally, in Scandinavia, than in the rest of Europe. Regional producers attempted to reverse the negative price tendency, and improve their profitability, by introducing increased selling values, for coils, sheets and plates, in June. Buyers, however, took a different view, and small price reductions were recorded, for most…

MMK Metallurgists settle into new houses built as part of plant’s housing programme

In Magnitogorsk, an official ceremony took place for the commissioning of two four-apartment houses which were built for employees of MMK Group as part of the Group’s long-term housing programme ‘Affordable housing for the metallurgists of MMK’. These houses are part of ‘Klyuchevskaya’, a residential complex, currently under construction in the village of Soty, an…

Severstal unveils new client-centric corporate structure

PAO Severstal announces that the Company’s organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the Company’s production and “selling” divisions now fall under two streams – upstream and downstream, for which common business goals are set. Upstream…

Steel market may turn the corner soon: RINL CMD

‘Budgetary allocation will give market a boost’ Rashtriya Ispat Nigam Limited (RINL) Chairman-cum-Managing Director P.K. Rath on Thursday exuded confidence that the sluggish market being witnessed by the steel industry would be overcome this year. Mr. Rath hoisted the tricolour and inspected the guard of honour during the 73rd Independence Day celebrations organised at Ukkunagaram.…

Auto companies told to pay 28% GST on imported plastic

MUMBAI: Can separate tax rates be levied on same product imported by two different companies, based on the end use? The customs department seems to think so, going by its latest tax demand from carmakers. The customs department has started issuing notices to several automakers, asking them to cough up 28% goods and services tax…

Schoeller Werk to Use New Surface Roughness Meter

To ensure compliance with relevant standards in the food and medical technology sector, Schoeller Werk will from now on use a new surface roughness meter (profilometer). This allows stainless steel tubes to be precisely tested at each 10th or 20th standard production length. What is more, the leading manufacturer of longitudinally welded stainless steel tubes…

The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.

The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019. The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced…