PAO 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
West Bengal, Odisha, Jharkhand to be major contributors in meeting 300 MT steel output target: Dharmendra Pradhan
"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…Details
Tanzania’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…Details
Reduced 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?
Reduced 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…Details
While 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,…Details
Metalloinvest, 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…Details
China’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…Details
Steel & Tube Holdings Limited made good progress on its business turnaround programme in FY19, although positive gains were offset by lower than expected gross margin performance due to market contraction in some high value categories and a highly competitive market. Revenues were $498.1 million, earnings before interest and tax was $16.8 million and net…Details
Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China.
Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China. Demand in China’s domestic market weakened last month amid bad weather – heavy rain in some regions and sweltering heat in most of…Details
Worldwide crude stainless steel production, in 2018, reached an all-time high total of more than 50.7 million tonnes. This represents an increase of 5.5 percent, compared with the year earlier figure. MEPS predicts that global output will grow by approximately 4 percent, in 2019, to achieve a new record high mark of around 52.7 million…Details
Deliveries of MMK’s rolled steel to pipe companies in the Siberian Federal region have doubled since the beginning of the year. The region accounts for about 10% of the plant’s sales of the relevant products. The Company plans to further expand its presence in the domestic market. Deputy General Director of Sales at PJSC MMK…Details
Last summer, it looked like things were finally about to change for Ashland, Ky. For two decades, the jobs that once supported this Appalachian outpost of 20,000 people on a bend in the Ohio River have been disappearing: 100 laid off from the freight-rail maintenance shop; dozens pink-slipped at the oil refinery; 1,100 axed at…Details