A new report by BMO Global Commodities Research suggests that while overall Chinese trade is struggling — looking beyond headline figures, mining firms have few reasons to worry. US trade is in freefall and total Chinese imports may be down 5% compared to last year but, says BMO, imports of raw materials and ores “continue…Details
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Ahead of Fastmarkets’ Battery Materials Europe conference in Amsterdam, we hosted a free web seminar to discuss recent market moves in the battery and EV sector, and what to expect over the coming months. If you missed it, follow the link below to listen to the free recording. What is driving the battery raw materials…Details
The Hindu Business Line reported that JSW Steel has cut its capital expenditure plans in the US by 60% to USD 400 million due to weak demand and a slowing economy. Mr Seshagiri Rao, Joint Managing Director, JSW Steel, told Business Line that “The company had already invested USD 250 million in restarting production at…Details
Riyadh — Indian steel manufacturers plan to strengthen their relationship with the Middle East market, especially Saudi Arabia, according to remarks made during the second day of the First International Saudi Iron and Steel Conference on Wednesday. "India is a natural supplier for Middle East given its position on the Indian Sea," V.R. Sharma, managing…Details
Expectations of stockpiling activity ahead of the Chinese National Day holiday (October 1-7) have boosted sentiment among suppliers, leading to higher spot quotations for battery raw materials, including cobalt sulfate and tetroxide. Fastmarkets’ assessment for cobalt tetroxide 72.6% Co min, delivered China rose to 200,000-210,000 yuan ($28,140-29,547) per tonne on Wednesday September 18, up 2.5% from…Details
Energomashspetsstal has received a new order to produce rolls for two ArcelorMittal European enterprises. In particular, for ArcelorMittal Bremen (Germany) EMSS will produce 4 supporting rolls with the combined weight of 117 tons. 2 more rolls 40 tons each will be manufactured for ArcelorMittal Sagunto SL (Spain). The rolls have to be delivered in Q4…Details
Izhstal has mastered the manufacture of round rolled metal with the diameter of 200 mm at the mill-450. The maximum diameter for the mill used to be 120 mm. In 2017 the mill was modernized and the product range increased to 130-150 mm and 170-180 mm. Such rolled metal is in demand in aviation and…Details
Uralelectromed has finished assembling a machine to clean ladles of scrap in its Proizvodstvo polymetallov subsidiary. During one shift metal makers could clean 5 to 6 ladles with the machine. At present the winch is being assembled and the machine is being connected to the power grid. All the machinery will be assembled and ready…Details
Metalloinvest has opened a pre-export financing credit line with a number of Russian and international banks. The PFX-2019 amount is 300 million euro, and the maturity rate is 4.25 years. The agreement has been concluded under the strategy to manage loans. The funds will be used to improve the loan portfolio, in particular, to optimize…Details
In January-August Dneprospetsstal decreased steel output by 13.7% YoY, to 145.7 thousand tons. Rolled metal manufacture dropped by 9.9%, to 101.3 thousand tons. Output of products decreased by 13.1%, to 5.7 billion UAH. In August DSS increased steel output by 5.1% MoM, to 19.7 thousand tons, and rolled metal – by 1.6%, to 13.7 thousand…Details
The delegation of Asha Iron and Steel Works has visited Zlatoust Electrometallurgical Works. The goal of the visit was to strengthen existing cooperation. The visitors inspected the hammer shop and the rolling shop No. 1, as well as witnessed the manufacture of slabs with the height of 45 mm and width of 600 mm of…Details
The use of metal in the construction of housing is not that widespread in Russia. While in developed countries some 50-60% of blocks of flats are built using steel frame, in Russia the volume is just 13.5%. The potential for the use of steel structures is seen in the metal companies participating in national projects,…Details
Drazhnik LLC, operating at alluvial gold sites in Magadan region, has extracted 1312.2 kg of gold. As of September 12, the current season output plan has been 99% fulfilled. This year the company started operating earlier than usual – on March 25, even though usually the company starts operating in late April. The company is…Details