Category Archives: Newnews

Turkey’s steel end-product consumption totaled 12.3 million tonnes in January-June 2019, down by 32.3% compared with the same period 2018, according to the Turkish Steel Producers’ Association (TÇÜD).

Turkey’s steel end-product consumption totaled 12.3 million tonnes in January-June 2019, down by 32.3% compared with the same period 2018, according to the Turkish Steel Producers’ Association (TÇÜD). Turkey consumed 5.3 million tonnes of finished long steel products, down by 41.1% compared with January-June 2018. Flat steel end-product consumption was 7 million tonnes in the…

Low Seasonal Demand Impedes Steel Price Growth in Emerging Markets

The prognosis for the Brazilian steel market is unchanged. Distributors plan to persevere with conservative inventory levels, reflecting a seasonal slowdown in end-user demand. Shipments to companies in construction related activities is weak. Steel price support from export demand is limited. In Russia, steel consuming engineering and manufacturing firms are reluctant to increase production capacity…

NLMK supplies NGO steel for Rostov region’s first-ever wind farm

NLMK Lipetsk, NLMK Group’s flagship production site, has delivered electrical non-grain oriented (NGO, or dynamo) steel to Ruselprom (Russian Electrotechnical Group), a leading manufacturer and supplier of electrical machinery in Russia. NLMK’s NGO steel will be used to manufacture generators for the Azov wind farm, Rostov region’s first-ever renewable energy project. The 90 MW Azov…

MMK implements digitalisation programme in partnership with Deloitte CIS

Deloitte CIS has completed an assessment of MMK’s digital maturity and transformation potential as part of MMK’s digitalisation strategy. The joint team applied Deloitte’s global experience to analyse MMK’s current digital initiatives and future potential. Currently, as part of the Company’s Industry 4.0 initiative, MMK is implementing more than 20 projects, dozens have been completed…

NLMK Group and Fort Ross Ventures sign cooperation agreement

NLMK Group and venture capital firm Fort Ross Ventures, a partner of Sberbank, have penned an agreement to cooperate to support innovations. Under the agreement, Fort Ross Ventures will provide NLMK Group with information on projects related to the Internet of Things, artificial intelligence technologies, cyber-security, cloud technologies, etc., that will enable the company to…

RUSAL and Braidy Industries will construct a green field aluminium rolling mill in Ashland, Kentucky

RUSAL and Braidy Industries Inc., a US-based holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announced an intent to establish a joint project in Ashland, Kentucky, USA to produce flat rolled aluminium products for the US automotive industry. The design capacity…

Mining giant BHP pays record dividend, but flags global growth headwinds

BHP Group posted its largest annual profit in five years and record full-year dividends, but its share price eased as the world’s biggest miner flagged global economic headwinds that could hit demand for its key commodities, iron ore and copper. Both profit and dividends slightly undershot expectations as BHP (BHP.AX) kept cash in its coffers…

Small startups may not get promised tax holiday

NEW DELHI: Indian startups with turnover in excess of Rs 25 crore may have to pay income tax even though they may be eligible for the three-year tax holiday announced by the government. That’s because under tax laws, the threshold for exemption remains at Rs 25 crore. It has not yet been enhanced to Rs…