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The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.

NewnewsBy admin24.08.2019Leave a comment

The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019. The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced…

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Hyundai Steel Awards SMS Group Order For Revamp Of The Heavy Section Mill at Incheon

NewnewsBy admin23.08.2019Leave a comment

After successfully completing the commissioning of its new horizontal straightening machine, Hyundai Steel has awarded SMS group a follow-up order for the revamp of its Incheon heavy section mill in South Korea. With this revamp Hyundai Steel aims to expand its product range towards larger sections with webs of up to 1,100 millimeters and sheet…

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MMK launches new 30 billion ruble sinter plant

NewnewsBy admin23.08.2019Leave a comment

  Magnitogorsk Iron and Steel Works (MMK) commissioned sinter plant No. 5, the only one of its kind in Russia, in the presence of Russian President Vladimir Putin. The facility has a capacity of up to 5.5 million tonnes of sinter per year.   MMK’s new sinter plant is equipped with state-of-the-art equipment, allowing it…

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Mechel, BELAZ-24 Cinch Deal for Dump Truck Supply

NewnewsBy admin23.08.2019Leave a comment

Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports signing an agreement with CTP BELAZ-24 OOO for 15 dump trucks with a total value of approximately two billion rubles. The deal was signed on the sidelines of the international specialized mining technologies exposition “Russian Coal and Mining” held in Novokuznetsk.…

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Lancashire Steel says requires additional funding

NewnewsBy admin23.08.2019Leave a comment

KWEKWE-BASED wire-making company, Lancashire Steel says it needs an additional ZWL$19 million to ensure it smoothly emerges from the woods after closing down in 2010 due to operational constraints. The firm, which is about to resume operations recently received ZWL$2 million from Government through the Zimbabwe Asset Management Company (Zamco). In an interview, Lancashire Steel…

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No GST cut on cars even as the FM brings in measure to boost demand

NewnewsBy admin23.08.2019Leave a comment

Finance Minister Nirmala Sitharaman said that to boost demand in the automobile sector several temporary relief measures will be introduced including an increased depreciation cost for automobiles for corporates and businesses, however, she stopped short of giving a GST cut for automobiles, something the industry has been lobbying for. All BS-IV vehicles purchased upto March…

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Xining Special Steel Announced H1 Result

NewnewsBy admin23.08.2019Leave a comment

Xining Special Steel said that its revenue in the first half of the year was 4.388 billion yuan, up 29.6% from a year earlier, and net profit was 58.4685 million yuan, up 365.05% from a year earlier, according to a semi-annual report released by Xining Special Steel on the evening of Aug. 20. According to…

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Turkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16.

NewnewsBy admin23.08.2019Leave a comment

Turkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey’s largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said.  British Steel…

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Fierce Competition in Growing Southeast Asian Steel Market

NewnewsBy admin23.08.2019Leave a comment

In many parts of the world, the outlook for growth in steel demand is quite modest. However, the region that continues to buck the trend is Southeast Asia. This area is a steadily developing market. All ASEAN countries recorded positive growth in 2018 – with similar projections expected, this year. Increased activity from the construction…

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MMK’s Mill 5000 celebrates 10-year anniversary

NewnewsBy admin23.08.2019Leave a comment

24 July marked ten years since the launch of the unique Magnitogorsk Iron and Steel Works (MMK) plate Mill 5000. Over its 10-year history, the unit has produced more than 10 million tonnes of hot rolled steel. Russian President Vladimir Putin attended the ceremony celebrating the unit being commissioned. He praised the work of the…

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Terminal for transhipment Metalloinvest pellets and HBI to be built at Ust-Luga port

NewnewsBy admin23.08.2019Leave a comment

Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and a regional producer of high-quality steel, has signed a binding agreement with the company Ultramar for the construction of a specialised terminal for the transfer of iron ore pellets and HBI at the Ust-Luga port, located in the Leningrad region. The…

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Start of construction of Udokan Mining and Metallurgical Plant

NewnewsBy admin23.08.2019Leave a comment

Governor of Zabaikalye Region Natalya Zhdanova, Chairman of the Board of Directors of Baikal Mining Company Valery Kazikaev and General Director of Baikal Mining Company Yury Ryabov solemnly declared start of construction of Udokan Mining and Metallurgical Plant. A memorial stone was placed at the construction ground level, with embedded special case containing a letter…

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Southern Indiana steel company granted relief from trade restrictions

NewnewsBy admin23.08.2019Leave a comment

A Jeffersonville company has been granted relief from a Trump Administration trade policy that went into effect more than a year ago. POSCO Steel said that will allow it to increase production, which could create new jobs. The business, headquartered in South Korea, opened a location in the Port of Indiana in 2017, but policies…

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