India’s Central Statistics Office released the gross domestic product numbers for April-June quarter, which showed that India’s GDP expanded 5% in last quarter, the slowest pace in six and half years, down from 8% in Q1 of 2018-19 and slowing from a 5.8% in the January-March quarter. India’s GDP growth averaged 7.7% from 2014 to…Details
China's moves to revive its infrastructure sector in response to slower domestic economic growth and rising trade tensions are widely expected to fuel a pick-up in steel demand from September and sustain it into 2020, but could also spur an increase in steel production that results in another winter of oversupply and short-term losses for…Details
Shanghai-bonded copper stocks fell to their lowest level since February 2016 at the end of August after a profitable import arbitrage between London and Shanghai boosted buying interest for bonded warrants last month.
Mariupol Ilyich Iron and Steel Works has finished scheduled repair of the blast furnace No. 2.
All the diagnostics and units restoration were carried out in 13 days.
The blast furnace has already been commissioned.
Metinvest provided 48 million UAH for the repair. (Ukrainian metal)
Metalloinvest is carrying out a large-scale project to modernize the Ural Steel cogeneration plant. The company plans to improve its energy efficiency by decreasing energy resources consumption, air pollution and maintenance costs. Under the project Ural Steel is constructing a complex with two boilers of medium pressure with the capacity of 220 tons of steam…Details
UGMK-OTsM has developed a new brand and registered the Kirrooff trademark for the copper roofing produced at the Kirov Non-Ferrous Metals Processing Works. As a result of modernization the company is now able to produce copper roofing corresponding to more expensive foreign analogues, but at a competitive price. Under a strategic development plan UGMK-OTsM has…Details
Energomashspetsstal has concluded a new agreement with SAIL RSP. This is the third agreement this year with Rourkela Steel Plant, a part of Steel Authority of India (SAIL). So far the company has ordered some 2 thousand tons of rolls. The new contract was signed in August. EMSS will have to produce 10 supporting rolls…Details
In June Russia exported 5.3 thousand tons of long-rolled aluminum, down by 11% MoM and by 12% YoY. Sales to Germany dropped by 35.5%, to 1.2 thousand tons, and to Belarus – by 18%, to 440 tons. At the same time exports to Kazakhstan grew 2-fold, to 641 tons. In 6 months long-rolled aluminum exports…Details
In July Kuzbass region mined 5.9 million tons of coking coal, with 2.1 million tons extracted from pits and 3.8 million tons – from mines. In January-July coking coal output grew by 7.5% YoY, to 44.2 million tons, with pit coal up by 13.2%, to 15.4 million tons, and mined coal – by 4.7%, to…Details
Under the program to develop new products manufacture Metinvest in 2019 has focused on galvanized rolled metal. “At Unisteel we have mastered the thickness of 2 mm. We have also started shipping trial batches of S350GD steel with the thickness of over 1.6 mm, including with the zinc coating of 275 g”, the group marketing…Details
Mr N Baijendra Kumar, CMD NMDC, while addressing company’s shareholders during 61st Annual General Meeting at Hyderabad said that the progress of construction of the company’s steel plant in Chhattisgarh is noticeable and various packages are at construction completion stage. This 3 million tonne capacity integrated steel plant is expected to be operational by third…Details
The Arbitrary court of Volgograd region has completely satisfied the claim of the power-selling company Leader to Krasniy Octyabr Iron and Steel Works. The plant, which has been undergoing a bankruptcy procedure since last November, has been forced to pay more than half a billion rubles of debts. The suit to the metal works was…Details
In July the First Cargo Company transported 8.8 thousand tons of non-ferrous metals, up 4-fold YoY. Most metal was transported via the Krasnoyarsk Railroad – 3.5 thousand tons, up 17-fold. Aluminum accounted for most volumes. Transportation of aluminum and copper from Tajikistan and Kazakhstan to the port of Novorossijsk has increased 6-fold, to 4.3 thousand…Details
Last week the price of one ounce of gold decreased by 27.23 manats or by 1.4%. The average price of one ounce of gold stood at 2,609.6649 manats. The price of one ounce of silver increased by 1.0647 manats or by 3.4%, to 30.6621 manats. The price of one ounce of platinum grew by 96.0785…Details
Cherepovets Iron and Steel Works has finished repairing its main machinery in the sheet-rolling shop No. 1. The repairmen were able to decrease work time by 8 hours. In particular, mills 1700 and 2800 have been repaired. The company was also able to prepare for a large-scale investment campaign of 2020. It will see modernized…Details
Kyrgyzstan has managed to increase receipts under a strategic agreement with Centerra Gold, head of Kyrgyzaltyn Almazbek Alimbekov announced at a press conference at the Government. According to him, as a result of long negotiations, the Kyrgyz Government has managed to conclude an agreement with Centerra Gold, increasing receipts to $150 million. “For example, under…Details
Government of Kyrgyzstan hopes that operation of Kumtor mine will be extended for 5-6 years. According to the head of Kyrgyzaltyn OJSC Almazbek Alimbekov, Centerra Gold has already allocated $24 million for exploration. “The work was carried out by local companies, so the money remained in the country. If the mine will operate for other…Details
In January-June DTEK decreased coal output compared to the first half of 2018.
According to the company press-service, it mined 12.6 million tons of coal, down by 2.5%.
Gas production dropped by 0.1%, to 817.4 million cubic meters. (Ukrainian metal)
The new owner of the Romanian integrated steel mill formerly known as ArcellorMittal Galati (or Sidex, before the privatisation), Liberty Steel, wants to invest EUR 200 million in its newly acquired plant, Economica.net informed quoting Bloomberg. Liberty Steel general manager Jon Bolton said that, over the next five years, the group plans to invest over…Details
Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Monday September 2, with nickel, tin and aluminum securing gains while the rest weakened marginally. The mixed moves come amid heightened risk aversion among investors due to trade uncertainty after the United States imposed a 15% tariff on $125…Details
Xinhua reported that China’s securities regulator has approved trading in stainless futures and styrene to provide enterprises with new risk management tools. The Shanghai Futures Exchange can carry out trading in stainless steel futures, and the contracts will be listed for trading on September 25. The Dalian Commodity Exchange can carry out styrene futures trading,…Details
Prices in most of the global markets for steel billet dropped sharply in the week ended Friday August 30 amid unfavorable market conditions – in particular, poor demand and falling scrap prices. China Weakening demand for billet continued to push Chinese domestic billet prices down, sources said. Re-rolling mills in Tangshan were expected to reduce…Details
Steel beam prices in the United States have fallen in tandem with recent mill cuts, while fresh offers have lowered import prices. Fastmarkets’ monthly price assessment for steel beams 8 x 8-inch, fob mill US, declined to $35.25 per hundredweight ($705 per short ton) on Thursday August 29, down 7.8% from July’s assessment of $38.25…Details
Cold-rolled coil prices in the United States were steady on Thursday August 29, while hot-dipped galvanized pricing slipped modestly. Fastmarkets’ weekly assessment for cold-rolled coil, fob US mill, was unchanged at $37.50 per hundredweight ($750 per short ton) on Thursday, while that for the hot-dipped galvanized base price slipped by 1.3% to $37.50 per cwt from $38…Details