PAO Severstal, one of the world’s leading vertically integrated steel and mining companies, has established a new unit that will be focused on the development of digital businesses. The team will be headed by Sergey Khabarov, previously investment director at Genome Ventures, an innovative human capital development business. The new unit will be part of…
DetailsUral Mining Metallurgical Company (UMMC), one of the top Russian producers of copper, zinc and other precious metals in Russia signs a debut EUR100m syndicated loan. Mandated Lead Arrangers, Bookrunners and Lenders are Raiffeisen Bank International AG, AO Raiffeisenbank, PJSC ROSBANK and SOCIETE GENERALE. Raiffeisen Bank International AG and AO Raiffeisenbank acted as documentation agent…
DetailsDalian and Singapore iron ore futures rose on Monday, buoyed along with other Asian steel benchmarks as fresh moves by China’s central bank to prop up its slowing economy lifted the overall mood in financial markets. The most-traded iron ore contract on the Dalian Commodity Exchange, with January 2020 expiry, climbed as much as 2.2%…
DetailsBy Neeraj Kaushal If millions of Indians simply went on vacations, visiting domestic tourist destinations, would that energise India’s slowing economy? Could the economy bounce back not because people were working harder, but because they decided to take a break from work and instead went on a ‘Char-Dham Yatra’? Believe it or not, the answer…
DetailsBall Corporation announced an agreement to sell its tinplate steel aerosol packaging facilities in Garin and San Luis, Argentina, to Envases del Plata SA, an Argentinian metal packaging company. The transaction is expected to close later this year and we expect the business will continue to be operated consistent with its successful long-term performance. Post-close,…
DetailsThe 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…
DetailsHot 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…
DetailsNLMK 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…
DetailsMagnitogorsk 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,…
DetailsPJSC 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…
DetailsUC 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…
DetailsPaul 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…
DetailsNEW 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…
DetailsThe 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…
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