PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made…
DetailsDalian iron ore futures slumped to a two-month low on Monday, extending losses to an eighth session, amid worries of weak demand as China’s top steel-producing province of Hebei looks to tighten emission requirements. The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 delivery, dropped as much as 5.6% to 609.50…
DetailsTough times teach you the most, says Deep Kalra, founder and CEO of MakeMyTrip. In an interview with Malini Goyal on the ups and downs in his startup journey, he says young entrepreneurs should think like marathoners. Edited excerpts: Travel is a discretionary spend segment. What signal is it sending on the state of the…
DetailsChina’s finished steel exports decreased on a yearly basis in July 2019, as did exports in the January-July period. The country shipped 5.57 million tonnes of finished steel abroad in July, down 5.43% from 5.89 million tonnes a year earlier, according to preliminary Chinese customs data released on Thursday August 8. Last month’s exports were…
DetailsMechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or…
DetailsImports of Iron & Steel in the United Kingdom increased to 446.95 GBP Million in October from 406.23 GBP Million in September of 2017. Imports of Iron & Steel in the United Kingdom averaged 337.83 GBP Million from 2000 until 2017, reaching an all time high of 631.75 GBP Million in March of 2011 and…
DetailsMontenegro’s transport firm Montecargo has struck a deal with HBIS Group Serbia the owner of the Smederevo steel mill that will see it ship 30,000 tonne of iron ore for the Chinese-owned company. Montecargo CEO Muradif Grbovic has said that “Transport of 120,000 t of ore for the company, which is backed by Chinese capital,…
DetailsMajor Chinese steelmakers’ daily crude steel output rates were largely flat in mid-July compared with the previous period. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.02 million tpd during the second 10 days of July, up a mere 0.2 %… (Ukrainian metal)
DetailsPAO Severstal (the “Company”) one of the world’s leading vertically integrated steel and steel-related mining companies, announces that it has entered into a definitive agreement with Abinsk Electric Steel Works LTD for the sale of Mini-Mill Balakovo. The consideration of the transaction will be $215 million. The transaction is expected to complete in first half…
Details"The eastern region of the country holds immense potential and a large part of steel production target as envisioned in National Steel Policy (NSP) 2017 will come from states like Jharkhand, Odisha, West Bengal," a statement issued by Steel Authority of India Ltd (SAIL) quoted the steel minister as saying. Jharkhand, Odisha and West Bengal…
DetailsTanzania’s steel and plastics firm Lodhia Group is putting up the country’s first billets plant. According to Lodhia Group managing director Mr Sailesh Pandit, the plant will help meet the high demand for billets in Tanzania and neighbouring countries besides helping fight off under valued, under declared and substandard steel imports from South Africa that…
DetailsReduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets? According to China’s General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished…
DetailsWhile US steel selling values continue to be amongst the highest in the world, domestic steelmakers have lost a large part of the pricing gains they secured in late 2017/early 2018. It is widely accepted that US steel producers capitalised initially, on the speculation, and then the implementation of strong import protection measures, in March,…
DetailsMetalloinvest, a leading global producer and supplier of HBI and iron ore products, and one of the regional producers of high-quality steel, has updated its Development Strategy. The Strategy aims to allow the Company to maintain the leading position in the metals and mining industry and continuously enhance the Company’s efficiency. In 2015, Metalloinvest announced…
DetailsChina’s monthly crude steel output fell for a second straight month in July, official data showed on Wednesday, as steel mills trimmed output amid heightened environmental measures and record raw material prices. The world’s top steelmaker produced 85.22 million tonnes of crude steel last month, data from the National Bureau of Statistics (NBS) showed, down…
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