The gold-bearing deposit Polyanka, situated in the Nikolayevsk Advanced Development Territory, has been put into operation. NGK Resurs will be mining and processing some 1.5 million tons of gold-bearing ore per year. The resources of the deposit amount to 100 tons of gold. Until 2025 the investor plans to mine 7.7 tons of gold and…Details
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The three-month nickel price on the London Metal Exchange was higher during morning trading on Wednesday September 18, edging back above the $17,000-per-tonne resistance level despite moderate turnover, while the rest of the complex consolidated lower. Nickel’s outright price was recently seen at $17,170 per tonne, while trading volumes over the morning were modest at…Details
In July Russia imported 79 thousand tons of chromium ore and concentrate, up by 4% MoM and by 14.3% YoY. Most of the ore was imported from Kazakhstan. But deliveries have been falling for several months: April – 82.9 thousand tons, May – 77.1 thousand tons, June – 69.8 thousand tons and July – 61.5…Details
In January-August Russia produced 34.1 million tons of pig iron, down by 1.9% YoY. In August the output dropped by 0.8% YoY, but grew by 1.3% MoM. According to the Federal Service of State Statistics, Russia produced 39.4 million tons of unalloyed steel and semi-finished products, down by 1.1% YoY. In August the manufacture decreased…Details
In January-August rolled metal consumption in Ukraine dropped by 10.99% YoY, to 2.83 million tons. Imports accounted for 953.4 thousand tons, or 33.7%, up by 3.5%. In 8 months of 2018 the domestic market consumed 3.141 million tons of rolled metal, including 948.5 thousand tons, or 30.2% of imports. The share of flat rolled metal…Details
Magnitogorsk Iron and Steel Works’ (MMK) representatives took part in the Second Congress of the Russian Steel Association on labor protection, industrial and environment safety held in Stary Oskol. MMK invests around 2.5 billion rubles in occupational safety every year. The event was held on September 10-11 on the site of the Oskol Electrometallurgical Plant…Details
In January-August Ukraine produced 12.52 million tons of rolled metal, of which 10.64 million tons, or 85%, were exported. In 8 months of 2018 the share of export was 82.1% (10.08 million tons of 12.28 million tons produced). Semi-finished products accounted for 45.78% of exports, up from 43.94% last year. The share of flat rolled…Details
Mint reported that slowdown in India’s steel sector is spreading to medium and small enterprises, with several companies cutting production in response to lower demand. Such units make up about one-half of India’s total steel production but higher iron ore prices and weak demand have forced many to trim output since August. In some cases,…Details
The downtrend experienced by export prices for Chinese wire rod persisted over the past week, with mills under pressure to secure orders from overseas buyers. Fastmarkets’ weekly price assessment for November shipments of steel wire rod (mesh quality) export, fob China main port was $470-475 per tonne fob on Tuesday September 17, widening downward by…Details
Mr Sanjeev Gupta has pledged to invest EUR 400 million over five years to build Liberty Steel’s newly acquired European steelworks into a major force in the global steel industry. Liberty has set a goal of expanding sales at the plants by 50% by 2022. Mr Gupta said “I’m proud to welcome thousands of skilled…Details
Ferrous scrap prices in Mexico were stable in Monterrey but started falling in Bajío where downward momentum in the United States scrap market has begun to have an impact. In Mexico’s central Bajío region, Fastmarkets’ weekly assessment of steel scrap No1 busheling, consumer buying price, delivered mill Bajío, fell to $4,750 pesos per tonne on Tuesday…Details
A 55-ton LF and 3-strand billet caster have started at BSRM, in the new meltshop in Mirsharai, Bangladesh. The ladle furnace has two ladle cars positioned at 90° and a 10 MVA + 20% (overload) transformer. It is equipped with Bus Bar Electrode Arms and “Inert Roof” to minimize the electrode-side oxidation, the slag/steel oxidation,…Details