Iron ore, coking coal prices plunge

•Benchmark iron ore prices tumbled today amid renewed doubts about Chinese economic stimulus, while coking coal prices plunged on oversupply and government imposed import restrictions. •Dalian iron ore futures fell 4.6% at 638 yuan (slightly below $90/mt) and Shanghai rebar – the world's most traded steel contract – lost more than 3%. •The Australian export…

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Russia: UGK to cooperate with Rosgeologia

Rosgeologia and the Managing Company UGK LLC have signed an agreement on cooperation in subsoil use. The document presupposes creation of joint ventures to carry out investment projects on prospecting, estimating and developing deposits in Russia and abroad. Moreover, the companies plan to cooperate in further prospecting of unused deposits in order to put them…

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INTL STAINLESS STEEL CONF: Philippines less attractive for nickel ore investment than Indonesia – delegates

Chinese nickel consumers may be deterred from guaranteeing long-term ore supply by investing in Philippine ore production, delegates said during a panel discussion at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18. This is despite prevailing opinion that Philippine material is more easily refined and cost effective than…

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US Steel Lowers Third Quarter 2019 Guidance

United States Steel Corporation has provided third quarter 2019 guidance. It said “We expect third quarter 2019 adjusted EBITDA to be approximately USD 115 million, which excludes approximately USD 53 million of estimated third quarter impacts from the December 24, 2018 fire at our Clairton coke making facility and estimated restructuring charges. We expect third…

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POSCO Mass Producing S31254 Stainless Steel for Sulfur Scrubbers for Marine Vessels

POSCO announced that it will actively target the super alloy stainless steel market to make sulfur scrubbers ahead of next year, when tighter sulfur oxide emissions guidelines on ships come into effect. Through extensive research and development, POSCO has succeeded in mass-producing S31254, a high-alloy stainless steel developed for use in seawater. The steel contains…

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