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The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties.

NewnewsBy admin 22.08.2019 Leave a comment

The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt’s Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the…

Northern European Business Activity Remains Lethargic, As The Summer Holiday Period Approaches

NewnewsBy admin 22.08.2019 Leave a comment

Hot rolled coil demand, in Denmark, is better than in many other European countries, but shows little sign of improvement. Swedish business activity is quite steady, having recovered from a downturn during the spring. Cheap Russian slab supplies put downward pressure on coil values, in Finland. Demand is healthy, in the Netherlands and market participants…

Vyacheslav Vorotnikov appointed Managing Director of NLMK Lipetsk

NewnewsBy admin 22.08.2019 Leave a comment

NLMK Group, a global steelmaker, is pleased to announce the appointment of Vyacheslav Vorotnikov as Managing Director of NLMK Lipetsk, effective 5 August 2019. Mr. Vorotnikov previously held the position of NLMK Lipetsk’s Director of Production Planning and Organization. Sergey Filatov, who previously headed NLMK Lipetsk, has decided to step down as Managing Director for…

MMK’s environmental and energy efficiency projects recognised by UNIDO award

NewnewsBy admin 22.08.2019 Leave a comment

Magnitogorsk Iron and Steel Works (MMK) was awarded a certificate by the United Nations Industrial Development Organisation (UNIDO) for its contribution to sustainable development and environmental initiatives in the Chelyabinsk region, as well as for the successful implementation of its ‘Energy Management of Industrial Enterprises’ programme. UNIDO is a specialised agency of the United Nations,…

TMK and NOVATEK signed a Strategic Partnership and Cooperation Agreement

NewnewsBy admin 22.08.2019 Leave a comment

PJSC TMK (TMK) and PJSC NOVATEK (NOVATEK) signed a Strategic Partnership and Cooperation Agreement at the 23rd St. Petersburg International Economic Forum. Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors, and Leonid Mikhelson, Chairman of NOVATEK’s Management Board signed the document. The agreement outlines key policies and approaches for supplying TMK’s premium casing and tubing…

RUSAL and the Ministry of Health of the Russian Federation announce completion of the vaccination against Ebola with a Russian vaccine

NewnewsBy admin 22.08.2019 Leave a comment

UC RUSAL together with the Ministry of Health of the Russian Federation, announced the completion of the vaccination against the Ebola virus in the Republic of Guinea. Two thousand people have received the GamEvac-Combi vaccines during the testing programme conducted in Guinea at the Scientific Diagnostic Centre for Epidemiology and Microbiology (SDCEM). The centre was…

Cyanide from steel plant trickled into Lake Michigan for days before public was notified

NewnewsBy admin 22.08.2019 Leave a comment

Paul Grenchick was surfing with friends along the Indiana shore of Lake Michigan on Thursday evening. Little did he know, just up the river, thousands of fish were dying, and investigators were struggling to determine exactly how much cyanide and ammonia had flowed into the lake after a spill at an industrial plant earlier in…

Govt must clear its dues to ease liquidity crisis: Raamdeo

NewnewsBy admin 22.08.2019 Leave a comment

NEW DELHI: Market veteran Raamdeo Agrawal said the biggest defaulter in India is none other than the government itself. He said half of the problems the domestic economy is facing will get resolved, once the government starts clearing dues on time. “Even if the government starts paying at least 30-day bill in 30 days, one-third…

ADNOC Awards Contracts to Procure OCTG from Tenaris, Vallourec & Marubeni

NewnewsBy admin 22.08.2019 Leave a comment

The Abu Dhabi National Oil Company announced the award of multi-billion-dollar contracts for the procurement of casing and tubing. The combined scope of the three contracts awarded is one of the world’s largest in this category. The contracts, which were awarded to Consolidated Suppliers Establishment, representing Tenaris SA; Abu Dhabi Oilfield Services Company, representing Vallourec…

Here are five Fastmarkets MB stories you might have missed on Tuesday August 20 that are worth another look.

NewnewsBy admin 22.08.2019 Leave a comment

Here are five Fastmarkets MB stories you might have missed on Tuesday August 20 that are worth another look. Cobalt prices have risen by more than 25% since Glencore announced it would close its Mutanda mine and – in doing so – brought forward expectations of a shortfall in cobalt supply. Namibia-based tin mining company…

US Steel Prices Expected to Recover in Second Half of 2019

NewnewsBy admin 22.08.2019 Leave a comment

US flat product steel prices have been in a steady state of decline since the mid-part of 2018. A gradual uptick in domestic capacity utilisation was a contributory factor to the price erosion. Imported volumes remain an influence, despite the protection of Section 232 measures. According to MEPS’ research, in July, the majority of US…

Altai-Koks embarks on equipment assembly for stamp charging

NewnewsBy admin 22.08.2019 Leave a comment

NLMK Group, a global steel company, has embarked on the assembly of main process equipment to implement the stamp charging technology at its operating coke oven battery at Altai-Koks, a leading Russian manufacturer of metallurgical coke. Instead of the conventional top charging method, stamped charging involves feeding compacted coal briquettes into the oven horizontally. Stamping…

Metalloinvest develops rolled steel production capabilities at OEMK

NewnewsBy admin 22.08.2019 Leave a comment

Metalloinvest has commissioned a new reduction and calibration section for Rolling Mill 350’s mid-size production line at Rolling Unit #2 at OEMK (part of the Metalloinvest). Investment in the project totalled more than 600 mn roubles. The modernisation will enable the Company to increase production of high-quality rolled steel by 67,000 tonnes per year. The…

RUSAL and Tiocomposite test production technique for sulphur concrete using red mud

NewnewsBy admin 22.08.2019 Leave a comment

RUSAL (stock code at the Hong Kong Stock Exchange: 486, at the Moscow Exchange: RUAL), one of the world’s largest aluminium producers, and Tiocomposite signed a memorandum of intent to set test production of sulphur polymer concrete using alumina production waste in the Republic of Tatarstan, Russia. The details of the economic and organisational conditions…

Port Kembla won’t be hit in BlueScope’s US steel upgrade, says CEO

NewnewsBy admin 22.08.2019 Leave a comment

BlueScope's plans to boost production at its United States mill shouldn't have any effect on the amount of Port Kembla-made steel exported to that country. During Monday's announcement of a $1.015 billion full-year profit, BlueScope CEO Mark Vassella announced plans to expand the capacity of its North Star steel mill in Ohio – on the…

Ukraine: SevGOK output up in January-July 2019

Severniy GOK, Severniy Mining and Processing WorksBy admin 22.08.2019 Leave a comment

In January-July Severniy Mining and Processing Works increased pellets manufacture by 1.3% YoY, to 5.251 million tons. Concentrate output grew by 7.7%, to 7.12 million tons. In July SevGOK produced 816 thousand tons of pellets and 1.042 million tons of concentrate. (Ukrainian metal)

Russia: Fitch improves Petropavlovsk rating

PetropavlovskBy admin 22.08.2019 Leave a comment

International ratings agency Fitch has improved the Petropavlovsk Plc long-term rating to B- from CCC, with positive outlook. The improvement reflects the considerable strengthening of the company liquidity due to the refinancing of convertible bonds, paying of $57 million worth of loans by IRC Limited, etc. At the same time Fitch noted that financial and…