Vallourec’s Supervisory Board met under the chairmanship of Vivienne Cox to discuss the succession plan for the Management Board whose terms of office expire on 15 March 2020. As Philippe Crouzet did not wish to take on a new term of office, the Supervisory Board has managed an internal and external selection process. At the…Details
Seaborne iron ore prices softened further on Wednesday September 18 amid a roller-coaster ride in the futures market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $96.42 per tonne, down by $0.75 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.81 per tonne, down by $0.75 per tonne. 62% Fe low-alumina fines, cfr…Details
Financial Express reported that Bhushan Power and Steel Limited’s highest bidder JSW Steel has informed the National Company Law Appellate Tribunal that it would be impossible for it to implement the resolution plan for BPSL if it has to share profits earned by the insolvent firm during the resolution period with creditors. JSW has also…Details
Ukrainian steelmakers’ association Ukrmetprom says that payments of royalties from mining iron ore increased almost 5-fold from 2012 to 2018. At the same time, payments of royalties from minerals of state importance, including ore, increased only 1.6-fold, while those from crude oil production 1.1-fold. The Servant of the People Party parliamentary faction proposes a change…Details
Interpipe has successfully passed the Tatweer Petroleum pre-qualification and has been added to the list of trusted suppliers of linear pipes to the Bahrain market. Tatweer is developing several deposits, for which it uses large-diameter pipes. Earlier Interpipe could not supply the pipes to the state company, as it was not included in the registry.…Details
The department of the inner market protection of the Eurasian Economic Commission has reported on the results of the investigation, which began on September 4, 2018. In 2015-2017 the volume of consumption of stainless steel hot-deformed seamless pipes on the Union market increased by 62.1%, with imports from China growing 6.9-fold, and during the investigation…Details
A new shapemeter has been installed at the line of 100-meter rails non-destructive method in the Evraz ZSMK rail and beam shop.
The new equipment measures 9 elements of sections according to GOST.
The shapemeter has passed state attestation and tests. (Ukrainian metal)
Almalyk Mining and Metallurgical Complex intends to mine up to 74 million tons of copper ore per year at the Yoshlik I deposit. The development of the deposit, situated next to the Kalmakir deposit, started in 2017. Art present the company employs 1330 people and 54 quarry dump trucks there. The first copper ore will…Details
Since the start of the year and as of mid-September Magadan region extracted 30.2 tons of gold, up by 23.1% YoY. Ore gold accounted for 17.75 tons, up by 43.8%. Alluvial gold extraction reached 12.44 tons, up by 2%. This year 3.49 tons of alluvial gold more are needed to be extracted. Silver output totaled…Details
In August Korshunovsky Mining and Processing Works increased iron ore concentrate manufacture by 35% YoY, to 254 thousand tons.
The concentrate was shipped to Chelyabinsk Iron and Steel Works.
Ore mining grew by 11%.
In H1 iron ore concentrate output increased by 31% YoY. (Ukrainian metal)
In July Russia exported 15.5 thousand tons of aluminum wire, down by 20.8% MoM, but up by 45.8% YoY. Deliveries to Switzerland dropped by 39%, to Belarus by 8% and to Poland by 14%. In January-July exports totaled 95.2 thousand tons, up by 24% YoY. In monetary terms since the start of the year the…Details
In July Russia imported 2.1 thousand tons of aluminum scrap and wastes, down by 32% MoM and by 29.4% YoY. Kazakhstan, USA and Kyrgyzstan have decreased their deliveries by 33%, 31% and 40% respectively. In 7 months imports totaled 16.4 thousand tons, down by 27.8% YoY. In monetary terms since the start of the year…Details
Mining holds the largest share in the industrial production in Azerbaijan. Mining of precious metals such as gold and silver is increasing in volume. Thus, gold mining amounted to 2,405 kg in January-August, up by 7.2% YoY, the State Statistics Committee stated. In August alone 344.8 kg of gold was mined in Azerbaijan and transferred…Details
The gold-bearing deposit Polyanka, situated in the Nikolayevsk Advanced Development Territory, has been put into operation. NGK Resurs will be mining and processing some 1.5 million tons of gold-bearing ore per year. The resources of the deposit amount to 100 tons of gold. Until 2025 the investor plans to mine 7.7 tons of gold and…Details
The three-month nickel price on the London Metal Exchange was higher during morning trading on Wednesday September 18, edging back above the $17,000-per-tonne resistance level despite moderate turnover, while the rest of the complex consolidated lower. Nickel’s outright price was recently seen at $17,170 per tonne, while trading volumes over the morning were modest at…Details
In July Russia imported 79 thousand tons of chromium ore and concentrate, up by 4% MoM and by 14.3% YoY. Most of the ore was imported from Kazakhstan. But deliveries have been falling for several months: April – 82.9 thousand tons, May – 77.1 thousand tons, June – 69.8 thousand tons and July – 61.5…Details
In January-August Russia produced 34.1 million tons of pig iron, down by 1.9% YoY. In August the output dropped by 0.8% YoY, but grew by 1.3% MoM. According to the Federal Service of State Statistics, Russia produced 39.4 million tons of unalloyed steel and semi-finished products, down by 1.1% YoY. In August the manufacture decreased…Details
In January-August rolled metal consumption in Ukraine dropped by 10.99% YoY, to 2.83 million tons. Imports accounted for 953.4 thousand tons, or 33.7%, up by 3.5%. In 8 months of 2018 the domestic market consumed 3.141 million tons of rolled metal, including 948.5 thousand tons, or 30.2% of imports. The share of flat rolled metal…Details
Magnitogorsk Iron and Steel Works’ (MMK) representatives took part in the Second Congress of the Russian Steel Association on labor protection, industrial and environment safety held in Stary Oskol. MMK invests around 2.5 billion rubles in occupational safety every year. The event was held on September 10-11 on the site of the Oskol Electrometallurgical Plant…Details
In January-August Ukraine produced 12.52 million tons of rolled metal, of which 10.64 million tons, or 85%, were exported. In 8 months of 2018 the share of export was 82.1% (10.08 million tons of 12.28 million tons produced). Semi-finished products accounted for 45.78% of exports, up from 43.94% last year. The share of flat rolled…Details
Mint reported that slowdown in India’s steel sector is spreading to medium and small enterprises, with several companies cutting production in response to lower demand. Such units make up about one-half of India’s total steel production but higher iron ore prices and weak demand have forced many to trim output since August. In some cases,…Details
The downtrend experienced by export prices for Chinese wire rod persisted over the past week, with mills under pressure to secure orders from overseas buyers. Fastmarkets’ weekly price assessment for November shipments of steel wire rod (mesh quality) export, fob China main port was $470-475 per tonne fob on Tuesday September 17, widening downward by…Details
Mr Sanjeev Gupta has pledged to invest EUR 400 million over five years to build Liberty Steel’s newly acquired European steelworks into a major force in the global steel industry. Liberty has set a goal of expanding sales at the plants by 50% by 2022. Mr Gupta said “I’m proud to welcome thousands of skilled…Details
Ferrous scrap prices in Mexico were stable in Monterrey but started falling in Bajío where downward momentum in the United States scrap market has begun to have an impact. In Mexico’s central Bajío region, Fastmarkets’ weekly assessment of steel scrap No1 busheling, consumer buying price, delivered mill Bajío, fell to $4,750 pesos per tonne on Tuesday…Details