In August Zlatoust Electrometallurgical Works produced 4,791 tons of liquid steel, up by 2.5% from the target. In particular, the electric arc furnace shop yielded 4,256 tons. The rolling shop produced 2,937 tons of rolled metal, of which high-alloyed stainless steel accounted for 80%. The mill-1150 produced 3,968 tons, up by 2% from the target,…Details
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In September Ukraine is expected to produce 1.95 million tons of steel. Pig iron output is estimated at 1.85 million tons and rolled metal – 1.7 million tons. As of September 10, 18 out of 21 blast furnaces, 8 out of 9 open-hearth furnaces, 14 out of 16 converters, 5 out of 15 electric arc…Details
In August Ukraine procured 225 thousand tons of scrap, up by 17% MoM. All the scrap was delivered to the domestic metal companies, there were no exports. In 8 months out of 2.143 million tons of scrap procured (down by 13% YoY) domestic companies received 2.106 million tons (down by 3%), and 37 thousand tons…Details
In August Ukrainian metal companies decreased natural gas consumption by 32% MoM, to 150 million cubic meters. In 8 months 1.26 billion cubic meters of gas were consumed, up by 2% YoY. Consumption of electricity in August increased by 3% MoM, to 980 million kW-h, but in 8 months dropped by 2%, to 7.73 billion…Details
Deliveries of iron ore raw materials to metal companies in January-August decreased by 6% YoY, to 18.9 million tons. In August some 2.4 million tons were supplied, on par with July. There were no imports in August. Iron ore raw materials exports in August totaled 3.5 million tons. In 8 months exports grew by 12%,…Details
Bloomberg reported that Kone Oyj’s Chief Executive Officer Mr Henrik Ehrnrooth wants a full merger with Thyssenkrupp AG’s elevator unit, as the Finnish firm prepares a bid for its German rival’s crown jewel that could thwart interest from private equity. Mr Ehrnrooth would like Thyssenkrupp to be a major shareholder in the combined entity, he…Details
SHANGHAI, Sep 16 (SMM) – Production of crude steel in China expanded 9.3% from a year ago to stand at 87.25 million mt in August, after a year-over-year increase of 5% in July, the National Bureau of Statistics (NBS) said on Monday September 16. This brought production in January-August to 664.87 million mt, standing 9.1%…Details
Base metals prices on the Shanghai Futures Exchange were on divergent paths during morning trading on Monday September 16, with risk aversion among investors heightening following an attack on Saudi Arabian oil facilities over the weekend. News on Saturday of a drone attack on Saudi Arabian state-owned oil producer Saudi Aramco’s oil production facilities at…Details
Bloomberg reported that JSW Steel is looking outward as the slowest economic expansion in six years cuts demand in India and puts pressure on margins. Joint Managing Director Seshagiri Rao in an interview said that JSW Steel expects to exceed its export target of 2.2 million tonnes to 2.4 million tonnes for the fiscal year…Details
A plunge in ferrous scrap prices and a negative trend in most global steel markets resulted in falling billet prices in almost all regions during the week ended Friday September 13. Prices in the Commonwealth of Independent States fell due to lower bids in buying outlets such as Turkey, the Middle East and Egypt. In…Details
Mint reported that lenders to Bhushan Power and Steel Ltd have held talks with JSW Steel Ltd, which had won the stressed steel mill bid under the insolvency code, as the acquirer is not entirely happy with the takeover terms cleared by the bankruptcy court. Source of informationDetails
The pellet segment of the seaborne iron ore market is starting to show signs of moving from annual contracts to shorter-term ones. The recent drop in iron ore prices amid improvements in Brazilian and Australian supply and a weak global steel market have led to buyers renegotiating the premium they had agreed with Brazil’s Vale…Details
NWI Times reported that anew president has been named at Gary based Chemcoaters. It hired Mr Connor McMenamin, who most recently headed up Tata Steel’s operations in Mexico. He also worked in sales and account management for India based multinational steelmaker. A University of Illinois alumnus, McManamin is fluent in Spanish, Portuguese, Arabic and French.…Details