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British Steel Unit TSP to be sold to French Systra

NewnewsBy admin31.08.2019Leave a comment

Sky News has learnt that Systra, which has been engaged in talks to buy TSP for three months, has clinched a deal to buy the business, along with its GBP 70 million plus pension liabilities. The agreement is expected to be announced by Systra and the Official Receiver, which has been managing British Steel since…

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ITC finds material injury in Chinese steel trailer wheel case

NewnewsBy admin30.08.2019Leave a comment

WASHINGTON — Chinese imports of steel trailer wheels, 12 to 16.5 inches in diameter, are causing material injury to U.S. steel trailer wheel makers, the U.S. International Trade Commission has determined. The ITC voted 5-0 Aug. 2 to make its final affirmative determination in the case, which began in August 2018 with petitions for relief…

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NOBLE ALLOYS MARKET REPORT 30/08: V2O5 prices rise on strengthened spot interest

NewnewsBy admin30.08.2019Leave a comment

An overview of the noble alloys markets and their latest price moves. Source of information

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thyssenkrupp could sell Elevator Division – Report

NewnewsBy admin30.08.2019Leave a comment

Reuters, citing four Source of information

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Indonesia to Lose European Commission Safeguard Exemption

NewnewsBy admin30.08.2019Leave a comment

The European Commission recently completed its review of the safeguard measures, which were introduced to prevent the redirection of material previously destined for the United States. The Commission has recommended changes, to the list of products from developing nations, that are currently excluded from the quota system. It has made the proposed amendments based on…

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Britain to fund steel in $480mln climate change package

NewnewsBy admin30.08.2019Leave a comment

The funding is part of Britain's efforts to meet its target to reach net zero greenhouse gas emissions by 2050 to help curb rising global temperatures. LONDON – Britain announced 390 million pounds ($480 million) of spending for low carbon technology on Thursday, most of which will go to the steel industry in a fund…

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IRON ORE DAILY: Seaborne prices rebound to nearly $85 per tonne

NewnewsBy admin30.08.2019Leave a comment

Physical iron ore prices rose on Friday August 30 on news that China was willing to proceed with negotiations to resolve its trade war with the United States. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.66 per tonne, up by $3.19 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $85.04 per tonne,…

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NCLT Allows IL&FS to Sell 7 Wind Assets to Orix

NewnewsBy admin30.08.2019Leave a comment

National Company Law Tribunal on August 28 cleared the sale of IL&FS’s seven wind energy assets to Japan’s Orix Corporation for INR 4,800 crore, which will partially help reduce its debt burden of over INR 99,000 crore. The tribunal comprising of VP Singh and Rajesh Sharma allowed the government-appointed board’s plea to approve sale of…

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China iron ore rebounds, but set for first monthly drop in nine

NewnewsBy admin30.08.2019Leave a comment

* Dalian, Singapore iron ore up more than 2% * Dalian iron ore slumps more than 20% in August * Coking coal prices to rebound in 2020 – Fitch Iron ore futures in China climbed on Friday, buoyed as some restocking demand for the steelmaking material emerged, but were on track for their first monthly…

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Ukraine: pipe output up in January-July 2019

Ukrainian pipesBy admin30.08.2019Leave a comment

In January-July Ukraine increased pipes output by 3.3% YoY, to 664.5 thousand tons. In July 86.6 thousand tons were produced. In particular, Ukrtruboprom association enterprises increased pipe output by 2.8%, to 487.3 thousand tons, with 62.5 thousand tons produced in July. Khartsyzsk Pipe Works is still idle. Interpipe-NTZ produced 154.9 thousand tons of pipes, down…

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Ukraine: average salary at metal companies up in July 2019

metal industryBy admin30.08.2019Leave a comment

In July enterprises of the mining and metallurgical sphere mostly increased average salary, except for pipe companies. In particular, the average salary at mining companies was 17,796.8 UAH, up by 10.6% MoM. At by-product coke plants the average wage was 19,102.9 UAH (+0.7%), ferrous metal companies – 17,807.9 UAH (+0.5%), non-ferrous metallurgy – 11,911.7 UAH…

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Russia: Udokan first stage to be built for 28 billion rubles

Udokan Mining and Metallurgical PlantBy admin30.08.2019Leave a comment

Baikal Mining Company has concluded an agreement with Renaissance Heavy Industries to build the first stage of the Udokan Mining and Metallurgical Plant with the capacity of 12 million tons of ore per year. The price of the agreement is some 28 billion rubles ($420 million). The company will have to construct a technological complex,…

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Russia: flat aluminum exports up in June 2019

aluminumBy admin30.08.2019Leave a comment

In June Russia exported 11 thousand tons of flat aluminum, up by 5.8% MoM and by 6.8% YoY. Deliveries to Poland grew by 17%, to Finland – by 20% and to Ukraine – by 16%, to 3.6, 1.2 and 1 thousand tons respectively. At the same time exports to the USA dropped by 25%, to…

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