The week gone by witnessed another bloodbath on Dalal Street taking along with it all the heavyweights like Reliance Industries, whose AGM effect withered away in no time. Strong bastions such as ICICI Bank, Bajaj Finance and the like also witnessed heavy selling, but by the close of the week, a smart recovery in broader…Details
Parts additively manufactured with AF-9628, an Air Force steel, are about 20% stronger than conventional AM alloys, in terms of ultimate tensile strength, according to research conducted by Capt. Erin Hager, an Air Force Research Laboratory employee and recent graduate of the Air Force Institute of Technology’s Aerospace Engineering Program. AF-9628 is a steel alloy…Details
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets.
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets. The Chinese currency passed the 7-yuan per $1 threshold earlier this month after US president Donald Trump announced plans to…Details
Stoilensky, part of NLMK Group, has produced its fifteen-millionth tonne of pellets since the launch of its pelletizing plant. Launched in November 2016, the pelletizing plant has a design capacity of 6 million tonnes of pellets per year. In 2018, the plant reached the production capacity of 6.7 million tonnes of pellets (+12% yoy). In…Details
President Trump expressed his support of fracking and tariffs and his admiration of Western Pennsylvania’s steel legacy during a visit Tuesday to the ethane-cracking facility being built in Beaver County. In an hour-long speech to more than 2,000 workers at the Royal Dutch Shell plant in Potter Township — miles away from about 200 protesters…Details
Mumbai|New Delhi: Automobile industry captains have welcomed the sops announced by finance minister Nirmala Sitharaman on Friday to revive the sector that is going through its worst sales decline in almost two decades. “The government has done the maximum it could have to revive demand,” said RC Bhargava, chairman of Maruti Suzuki, the country’s largest…Details
Magnitogorsk Iron and Steel Works was awarded a certificate by the United Nations Industrial Development Organisation 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’ program. The UN experts praised MMK’s efforts to reduce and prevent anthropogenic…Details
Domestic prices for hollow steel sections remained unchanged across Europe this week, with trading largely on hold during the traditional summer break, sources told Fastmarkets on Wednesday August 14.
Domestic prices for hollow steel sections remained unchanged across Europe this week, with trading largely on hold during the traditional summer break, sources told Fastmarkets on Wednesday August 14. Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, stayed at €615-630 ($688-705) per tonne on Wednesday. During August, many workers take holidays and mills…Details
Magnitogorsk Iron and Steel Works (MMK) has partnered with Deloitte CIS to create a digitalisation strategy for the Company. The agreement was signed during the St. Petersburg International Economic Forum. MMK has decided to update its digital portfolio as part of the Company’s overall development strategy up to 2025. To do this, Deloitte CIS will…Details
Iron ore futures opened lower Friday in daytime trading on the Dalian Commodity Exchange (DCE). The most active iron ore contract for January 2020 delivery dipped 6 yuan (about 85 U.S. cents) to open at 620 yuan per tonne. As the world's largest importer of iron ore, China opened the DCE iron ore futures to…Details
NEW DELHI: Air India owes three state-owned oil firms Rs 5,000 crore in unpaid fuel bills with payments being delayed by almost eight months, forcing retailers to snap supplies, Indian Oil Corp (IOC) said on Friday. IOC, Bharat Petroleum Corp Ltd (BPCL) & Hindustan Petroleum Corp Ltd (HPCL) on Thursday afternoon stopped jet fuel or…Details
Barrett Steel has acquired the business and assets of John Parker & Son Limited’s Shoreham site from the administrators. The move sees 50 staff move over to Barrett from their former employer and it boosts the company’s network to 27 locations across the UK. The acquired site will now operate as Barrett Steel Shoreham. Group…Details