Cherepovets Iron and Steel Works has mastered the manufacture of several new types of galvanized metal. Now the portfolio for construction clients has been expanded with galvanized metal with high galvanizing class (Z350, Z450 and Z600). Such metal is used in the manufacture of corrugated pipes for road construction, elevators, silo towers, etc. Several products…Details
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The electric arc furnace shop of Oskol Electrometallurgical Works has produced the 80-millionth ton of steel. It took the company 35 years to reach the milestone. Last year OEMK produced 3435 thousand tons of steel. The main customers of OEMK on the Russian market are enterprises of the car, machine-building, pipe, metal wares and bearing…Details
Severstal-Metiz at its Cherepovets site has started marking rods with color. Variants of marking depend on steel grade. For each customer a separate color marking has been chosen. At present the company uses 11 base colors and 19 combinations of 2 colors. The marking simplifies and speeds up the process of identification of metal at…Details
The Commercial Court of Lugansk region has resumed the proceedings on the bankruptcy case against Alchevsk Iron and Steel Works. Earlier the court has received claims to the company amounting to 125 billion UAH. In particular, Margit Holdings Limited (connected with Russian VEB) claims 75.8 billion UAH, Indumet Limited – 28.9 billion UAH, Landmont Limited…Details
Kuzbassrazrezugol, a part of Ural Mining and Metallurgical Company (UMMC), has reduced the coal production guidance for 2019 to 47 million tons from 50 million tons, the company said citing CEO Sergei Paramonov. “The company continues to pursue an upgrade of facilities, raising investment every year. The annual coal production plan was adjusted due to…Details
The state enterprise Lvivugol has ordered OSK-Technology LLC the delivery of mining equipment valued at 30.87 million UAH. This year the Stepnaya mine will receive two 2L1000 conveyers with the length of 760 meters and the capacity of 719 tons per hour valued at 15.43 million UAH each. The company is the manufacturer of the…Details
LIVE FUTURES REPORT 29/08: LME copper above $5,700/t on 24kt cancelation; nickel-tin switch at $560/t
The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses…Details
The price of steel hollow sections in the European domestic market has been reduced, with mills looking to stimulate demand by making lower offers, sources told Fastmarkets on Wednesday August 28. Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €585-630 ($649-699) per tonne on Wednesday, widening downward by €30 per…Details
According to economists polled by Reuters, Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand. While poll median showed the economy is expected to have grown at a year on year pace of 5.7% in the June quarter, a…Details
LIVE FUTURES REPORT 28/08: LME nickel price climbs 2.5% on short covering; cash/three-month spread at $97 per tonne
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday August 28, breaching the $16,000 per tonne resistance level in a bout of short covering, while tightness in the metal’s forward curve meant that it continued to trade at record levels. Some 8,000 lots of nickel changed…Details
Business Line reported that Tata Steel’s subsidiary Tata Metaliks Ltd is looking to double the production of ductile iron pipe to 400,000 tonnes per annum from the current 200,000 tonnes. The company is also installing a new 15-MW power plant. The estimated investment on the project is INR 620 crore. According to Mr Koushik Chatterjee,…Details
An overview of the noble alloys markets and their latest price moves. Source of informationDetails
PTI reported that Steel Authority of India Ltd has extended the deadline to submit bids for stake sale in its three assets to September 10, 2019. The date for submission of expression of interests for the three SAIL assets has been extended to September 10, 2019. No reasons were given for the extension of the…Details