Business Line reported that JSW Steel will move the National Company Law Appellate Tribunal on Friday to seek immunity from the ongoing criminal fraud cases against Bhushan Power and Steel Ltd. JSW Steel is the new owner of Bhushan Power after it emerged the top bidder through the insolvency process. JSW Steel will also appeal…Details
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Japanese trading house Mitsui & Co plans to expand its liquefied natural gas (LNG) and iron ore assets to meet growing demand in Asia despite signs of a slowing global economy amid a prolonged U.S.-China trade row, its senior executive said. “Energy and natural re Source of informationDetails
The bulk scrap price fell below $270 per tonne after a lower Kanto auction result and increased European supply to the region. Key market participants in the region expect more price falls after the lower Kanto Tetsugen auction this week, with end users shying away from purchasing large quantities. Large quantities of European scrap meant…Details
Sergey Filipiev has been appointed Interpipe Niko Tube CEO from September 11. He has been working at major metal enterprises for over 20 years. Before coming to Interpipe he has been working at Chusovoy Iron and Steel Works (Russia). Valeriy Karpyuk, who has been heading the company since 2017, has retired. (Ukrainian metal)Details
In July Russia exported 25.3 thousand tons of lead ore, down by 39.2% MoM, but up by 20% YoY. Deliveries to China dropped by 46%, to 22 thousand tons, and to Kazakhstan – from 939 tons to 345 tons. In January-July exports totaled 215.8 thousand tons, up by 27.2% YoY. In monetary terms since the…Details
In July Russia exported 33.5 thousand tons of refined copper, down by 1.2% MoM and by 42.9% YoY. Deliveries to China grew more than 2-fold, to 8.2 thousand tons, while to Germany dropped by 49%, to 3.3 thousand tons. In January-July exports totaled 373.9 thousand tons, down by 1.6% YoY. In monetary terms since the…Details
Izhstal has increased the power capacity of its foundry shop. This will increase the quality products output. The company has commissioned a new cable track for its steel-smelting furnaces. The length of the track was 1200 meters. Over 20 tons of cable have been laid. Izhstal plans to buy additional molding machines and the cold…Details
Zoloto Kamchatki has received the results of the independent estimate of the Kumroch gold deposit reserves. SRK Consulting estimated I&I reserves at 6.9 million tons of ore, containing 71.8 tons of gold and 107 tons of silver. Indicated reserves are 4.1 million tons of ore with the average gold content of 10.93 g per ton…Details
Karelsky Okatysh has resumed selling iron ore concentrate to Cherepovets Iron and Steel Works. This is one of the first projects carried under the Upstream program. With its help CherMK has considerably decreased buying the concentrate from the third parties. During the summer Karelsky Okatysh has shipped 357 thousand tons of concentrate to Cherepovets. 100…Details
The government has prolonged for 2 years the ban to export steel scrap, including pipes, rails, and elements of railroad and rolling stock. Stainless steel scrap exports are allowed provided the contracts are registered with the Ministry of Economy not later than 5 days before shipping. The ban was introduced in October 2018. (Ukrainian metal)Details
Russian businessman Maksim Vorobiev and his investment fund Amereus Group have purchased 3.00674% of shares of Kaz Minerals. The share of Vorobiev is 1.62043%, and of Amereus Group, wholly owned by Vorobiev, – 1.38631%. Vorobiev and the fund have bought the shares on the open market, so the shares of the major shareholders have remained…Details
The authorities of the Tambov region have decided to develop the Central titanium deposit themselves. The deposit is considered to be one of the largest in the world. The regional administration bought out the right to develop the deposit from VSMPO-Avisma in 2008. The license is expected to have been received by the end of…Details
In August Energomashspetsstal sold 460 tons of products to 10 Ukrainian companies. In particular, the buyers were Magma LLC, Furlender Windtechnology LLC, Mariupol Ilyich Iron and Steel Works, etc. The company is also engaged in the manufacture of spare parts for Kramatorsk wind plants. Last month EMSS shipped the 12th frame of the gondola with…Details